How does a young Texas couple lose more than $1,500? A company bilked them. It promised to help them re-negotiate their loan. The company, Excel, claimed it could help the couple get a modified mortgage loan. The company’s experts did not negotiate with current mortgage loan holders and they took the couple’s money. This couple may have wished there was a foreclosure hotline they could call.
Companies have tricked thousands of Texas families out of their cash. There should be a foreclosure hotline for victims to call. There is no official 1-800 foreclosure hotline in Texas; Texans can call the Texas Attorney General. The attorney general has closed a number of companies for deceptive mortgage lending practices.
Scheming companies that provide “assistance” have been barred from practicing in Texas
A Florida-based company, which offered mortgage loan assistance, cannot practice in Texas. Foreclosure Assistance Solutions paid more than $390,000 in restitution to 351 Texas families. Company officials defrauded homeowners out of thousands of dollars.
There is no official foreclosure hotline for the state of Texas, but Texans can call the Attorney General or a free foreclosure prevention organization like Save My Texas Home. Are there other ways Texans can protect themselves from those who would try to profit from their crises? How do you know if you are dealing with a company that will deceive you or will help you with an underwater mortgage?
No foreclosure hotline, but here are five signs Texans are dealing with dishonest Company
How can you best protect your house from foreclosure and keep your money in your pocket? Here is what every Texan needs to know before they sign any agreement with a less than honest company.
- Check before signing anything – Before you accept help from anyone, check if it is a HUD-approved agency. Some may be out to get money. There are free resources to aid Texas families. Many companies, such as Save My Texas Home, work with government-funded agencies and help borrowers. Do you need a list of HUD-approved agencies? Call 1-800-569-4287.
- Refuse working with a pushy company – No one can make you sign an agreement. There may not be a foreclosure hotline, but you do have loan options. You can file a complaint with the Texas Attorney General and hire a lawyer. A good company will not try to profit from your mortgage loan crisis. They solely are in business to help you. They are in business to help homeowners, not hurt them. Is the company trying to push you to file for bankruptcy? In most cases there are several other options!
- No upfront fees – A company helps Texans but they do not ask for fees right away. No legitimate company asks for money orders, cash, or wire transfers as payment. They offer payment options. There are many companies; some offer free tools to help families facing foreclosure. Others make customers pay. Honest companies will help Texans find government-funded programs or other means to REDUCE their debt, not make it worse.
- No pressure – A legitimate company will not ask you to sign a contract you have not read. You should read any contract before signing it.
Do you need help to find free resources in your area to help you save your Texas home? At Save My Texas Home, we can help, as we have qualified specialists. They can offer expert advice. We can offer you all the options; we do not just offer you the best options while you are choosing to make the mortgage payments. We can help you find alternatives, so you do not make high mortgage payments each month.
Are you struggling to make high payments? We can help you save your Texas home before you are sent a foreclosure notice and an eviction notice. We work with borrowers across the state of Texas. Texas may not have a foreclosure hotline to prevent tragedy from happening, but we can work with you to see to it you stay in your home. Give us a call at 512-271-5044, to see how we can help you! Visit us at www.savemytexashome.org