October 25, 2010

How to Prevent a Foreclosure here in Walworth County

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I was just talking to a couple yesterday that was trying to prevent their home from going into Foreclosure here in Walworth County. I wanted to give them some direction, so I recommended the 888-995-HOPE line with them and talked to a nice lady that was full of information. The one thing I want you to realize is that the rules do CHANGE!

For this couple, the husband has been out of work for 12 months and the woman was laid off from work until next spring here in Walworth County. With both of them being on unemployment, I wanted to help them find out their options. As of August 1, 2010 a new program for someone that has lost their job and is looking to prevent foreclosure while collecting unemployment was rolled out. This new program is called the “Unemployment Program”.  Before August 1, 2010, being on unemployment, you might not have qualified for any of the Making Homes Affordable Program.

We are just in the beginning stages of this program, but I will keep you updated with their progress.  With my research on Foreclosure, I found 5 Tips for Avoiding Foreclosure Scams that I want to pass on:

1. Work only with a nonprofit, HUD approved counselor.

2.. Don’t pay an arm and a leg.

3. Be wary of “guarantees”.

4. Know what you are signing–and be sure you sign it.

5. If it sounds too good to be true, it probably is.

Number 5 is my favorite!! I found this sound advice to help anyone in Walworth County (okay the whole United States) to help you avoid foreclosure scams.

If you would like any information on Short Sales or Foreclosures, please let me know, I can be reached at 262-745-1885 or .

Posted by:  Shirley Coulman

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