Pre-Foreclosure scams are on the rise! Be very careful of the “Bail Out” offers if you are having difficulty making your mortgage payments. Please speak with your Real Estate Broker, Financial Advisors and or your attorney before you sign anything. Don’t let the stress entice you to make a decision that could financially ruin you. You most likely have options that could better suit your needs.
I took a call today from a client that heard about a list of distressed properties they could purchase. The client was almost lured into buying the list with stories of pre-foreclosure homes in the Ocean Beach area. The story was about a person who could not make the payment on the $39,000 mortgage of a three bedroom single family home. The client was told if they took over payments they would receive all the equity. With Ocean Beach having a median single family home price in January of $865,000 (according to DQnews.com) this story smells more than a bit funny. Distressed properties are HIGH RISK. Do your homework and consult the professionals. Please speak to your broker FIRST!
Brian L Beebe, GRI
President/Managing Broker
New Home Executives Confidence Realty
Brian@ChooseConfidence.com