Is Using a ‘Foreclosure Prevention’ Company Advisable?

No doubt you have either heard radio advertisements or seen TV commercials that promote using some ‘Foreclosure Prevention’ company so that you do not lose your home. Phrases such as “We have the information about the foreclosure process that lenders or mortgage companies don’t want you to know” are common. However, is using one of these companies advisable? Clark & Washington advises that you be extremely careful when dealing with these types of companies. Despite the fact that several of these companies are legitimate, many are pushing the legal limits by operating on the outer boundaries of foreclosure law. If you have been considering contacting one of these companies rather than dealing with an experienced attorney, here are a few suggestions to follow: Check the company out very thoroughly – you can contact either the Better Business Bureau or speak with the state Office of Consumer Affairs by going through the Governor’s office. If you see that there have been numerous complaints lodged against a company, that should be a “red flag” where dealing with them is concerned. Use Google or Yahoo to research the company – first and foremost, check to see if this company has a website. Your next step is to read consumer opinions and reviews about any experiences they have had with this company in the past. Check to make sure that they have a physical address – if there is a PO Box listed as the address or if there is no phone number to contact them by, then we advise you continue searching for another foreclosure prevention company. What other company provisions are there? In other words, if the proposed deal or modification that was made to stop the foreclosure process doesn’t go through, is a “drop dead” date provided wherein that company will then advise you to seek the services of an experienced Chapter 13 attorney? Clark & Washington is well aware that it becomes increasingly more difficult to stop the foreclosure proceedings the further you proceed in the Florida foreclosure process. The lender or mortgage company is extremely reluctant to stop the process, especially if you fail to maintain communication with them. This is especially the case when you do not have a lot of funds to offer the lender or mortgage company so that they will stop the foreclosure process. Should you need further assistance or have any questions regarding how Clark & Washington can help you, please feel free to contact us for help.