This is a timely article. The article was recently published in our local paper by Carolyn Nelson with Synterra Property Group in Cedar Park, Texas.

As you may have heard, mortgage foreclosures are escalating to historic proportions. Realytrac is on the record stating that the number of foreclosures is up as much as 25% in the first quarter this year alone as opposed the 4th quarter last year.

As with any crisis, there are factors you should consider before you take steps to avoid foreclosure, and before you sign paperwork with a company promising to bail you out of a foreclosure situation. Banks are being overrun with foreclosures and being they are not in the landlord business banks are willing to work with Realtors to help you avoid foreclosure and in a way that is all above board and is Win-Win-Win for all the parties involved. A win for you, the bank and for the Realtor who knows the ropes and has the ear of the banks holding your loan.

If you are facing in a foreclosure situation, then make sure you read this article in its entirety before you make any decisions to go with a foreclosure rescue program.

We hope you enjoy this article. Please feel free to contact Carolyn Nelson at 512-258-4111. We handle the credit repair and she handles the real estate end of things. She is a problem solver and she will fight for you!.

Also, please comment on this blog post and let us and our other readers know of any experiences you may have had positive or negative with foreclosure rescue programs. All the best, keep your eyes peeled. Carolyn is finishing up another article on this subject that we can’t wait to read.

Until then,

Viable Credit Repair
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The full story:

Owners can lose their homes and still be stuck paying the mortgages!
When facing foreclosure, desperate homeowners can make some bad decisions, especially when approached by someone offering to “rescue” them.

A Boston-based National consumer Law Center released a report on “the rampant theft of Americans’ homes and equity” by con artists who promise to save houses from foreclosure. The report offers advice on how to avoid getting snared.

Prevention is the best medicine, it says. That is because if a homeowner does fall into a scamster’s clutches, it will take considerable money and time, a good lawyer and sometimes help from state regulators or prosecutors to undo the damage.

Although fraud and forgery may be involved and other unfair trade or deceptive practices laws may have violated, state enforcement agencies often do not have the resources to help “or don’t think they have the authority” the report says. And, in most states, they don’t have the ability to save the house even if you prosecute. That’s a civil issue.

Texas Attorney General Greg Abbot issued a consumer alert about bogus foreclosures rescue scams and said:

“If you are facing possible foreclosure on your home, be cautious of anyone who offers to ‘rescue’ your home. Do not sign a contract you do not fully understand.”

This is a very long report. There are different types of scams, ways to protect yourself, untangling the mess and people that “prey on homeowners in trouble”.

There are things to consider when facing foreclosure. One thing is that the lender may consider letting you sell your home in a “short sale” rather than going to foreclosure. A foreclosure costs a lender on the average of about $58,000, (legal fees, etc.), so a lender would much rather give the homeowner permission to sell the property by a Realtor through a short sale procedure.

If you have questions about your home, are behind in your mortgage payments, need to sell but don’t know what to do, are upside down on your home (owe more than the value of your home), would like a complimentary Comparative Market Analysis on your home, or would just like to talk to a local Realtor, please call me at my office, which is at 600 S. Bell Blvd., Ste. 9, Cedar Park, Texas. My phone is 512-258-4111. Please call me and let’s talk! Maybe I can save you from foreclosure!

Also, if you would like the complete report on FORECLOSURE “RESCUE” SCAMS, please call me and I will send it to you at no charge. Thanks for reading my column, and if you are in trouble or just need to talk, please call me. I am always available to you

Anyone with less than stellar credit can use credit repair. Services offered by credit repair companies vary from firm to firm.

The following are a few of the most common requests handled by credit repair services agents.

1. Remove Negative Items from My Credit Report: Negative items can be anything from unpaid collection accounts, medical bills, bankruptcies, judgments, foreclosures, tax liens, student loans, excessive inquiries,, and perhaps the most common – credit card debt.

Please note: Child Support can not be removed from a credit report.

2. Remove Inaccurate Info from My Credit Report: Some industry stats estimate that up to 80% of credit reports contain inaccurate information. It can be as innocent as an address that you never lived at, or as harmful as the debt of someone else (eg, in cases of identity theft).

It can be practically impossible to get the credit bureaus to remove information. They have no incentive whatsoever to do so – unless they are forced. It usually takes a trained professional to know how to deal with the credit bureaus to get them to remove inaccurate information.

There are many more credit repair services that a trained professional can provide. The two listed here are only the tip of the iceberg.