There are some legitimate real estate companies who assist borrowers who are nearing foreclosure. However, I would still be wary of signing over your title to anyone when the loan is still in your name. If you have already missed so many payments due to financial difficulty that your loan is near foreclosure, you definately do want to try to sell it first before the foreclosure goes through.
Why doesn't the realtor at this company simply offer to list the property for sale for you and advise when he has a potential buyer? When this occurs, he/she could assist you in discussing the sale with the lender to attempt to stop the foreclosure process.
In this market, I wouldn't trust anyone to take over my monthly mortgage payments and I definately wouldn't sign over the title to them whilst the loan is in my name.
Is there any way that you can keep your home? You may want to call 888-995-HOPE to talk to a housing counselor (free service) who can assess your entire situation and discuss any options that you may have.
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Submitted 577 days ago...
Loan payment- transfer of title
We are attempting to avoid foreclosure and have been approached by a company(paramount real estate services) they want us to transfer the title and they will make the payments until sold. They are extemely interested by our low fixed rate 5.5 however they do not want to assume the loan just the title. I feel this is a potential scam am I correct or is this something people do successfully?
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