For the past five years foreclosures in Houston have been at a record high. You’ve obviously gotten wind of this information considering it has been the topic of conversation in town for a while now. Sadly, as other people are looking for ways to deal with this painful process, some individuals are taking advantage of the situation. To them, it’s an opportunity to come out and prey upon Houston property owners who don’t know any better.
We’re talking about foreclosure scams in Houston, and how they’ve increased in the recent years.
We have been working with home owners about to go through foreclosure for so many years. In fact, we’re currently working with some of them right now and we’re sure we will be helping out several more folks in many years to come. Scam artists in Houston usually disguise themselves as reputable property investors. You need to be careful when dealing with players in this business because you can end up losing a fortune.
“We Buy Houses” companies aren’t similar
If you drive around town you’ll come across billboards with the phrase, “We Buy Houses in Houston” written on them. These billboards advertise companies that buy Houston homes fast for cash. We are an example of these firms that buy homes as-is. Today’s we’ll show you how you can distinguish a potential scam from a reputable cash investor.
We do have genuine real estate investment firms out there that buy Houston homes from sellers who are ready to sell fast. A scam investor will approach you with a similar pitch, but as you continue to work with them, you’ll notices things that don’t add up. For instance:
They Might Charge You an Upfront Fee
They will try to convince you to pay them so that they can help you negotiate with your lender. This is a definite red flag because why would anyone ask you to pay for help that you never asked for in the first place? By the way, isn’t help supposed to be free? You can simply call your bank representatives and talk about what options are available to you or reach out to a real estate firm that will offer loan counseling for free.
Try To Convince You to Signing Over the Deed
This doesn’t even make sense at all. An unsavory firm might try to convince you to give up the ownership to save your Houston house. What you need to be asking yourself is, once you’ve given up the ownership status, what will you be saving? The only people you should sign you’re deed over to are the mortgage company and only if they decide to forgive your debt. In any case, you should always have your legal counsel around.
You’ll be vulnerable when going through foreclosure. Try not to be duped by these scamming companies. You need to carry out a background check on every company before settling on the firm you want to work with when selling a Houston house in Texas. We are a reputable company with a string of trustworthy investors. We can help you sell your Houston home fast in foreclosure. Send us a message or call us today!