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It is a sad thing but there are people out there that will take advantage of you during this time. They will fill you full of promises they never intend to deliver. The old adage; "If it sounds to good to be true it probably is", holds true more than ever. Here are a few things to be on the look out for: The old sign your house over to me, pay me X amount in rent and in two years I will sell it back to you. The ever clever, I can help you but to do so you need to sign your deed over to me so I can act on your behalf. The popular, I need you to sign a power of attorney in order to be of assistance. The very fraudulent, creating issues with the property. Flooding, destroying the property. The "I know you are upside down and have missed three payments, but I can refinance you!" The "I can give you cash at closing" ploy.
If anyone ever suggests these to you, RUN do not walk! |
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