What Not to Do

Beware of Predators

As in nature, predators abound, and like lions or wolves, most predators seek out the weak or injured.



Act Quickly - But Not So Fast, Buddy!

Yes, the clock is ticking. But, this does not mean that you should blindly rush into anything. The unscrupulous investor will turn your sense of urgency against you. He may promise to solve all of your problems. But, you have to sign Now!

Guess what? All of your problems may not get solved. That's the way it is. But, you may be able to solve the big ones.

Don't Sign Anything You Don't Understand

It's what's in writing that counts - not what is said to you. Getting ripped-off at a car dealership is nothing compared to what can happen to you now. There are those who would have no problem stealing your home, ruining your credit or sinking you deeper in debt.

Bad Idea Loans

It may very well be that is was a Bad Idea Loan that got you into trouble to begin with. Any loan that pushes you to your financial limit is a Bad Idea. DON'T DO IT AGAIN!

Beware of advertisers that say Bad Credit OK. Bad credit is not OK!  That's why it's called bad.

Beware of lenders that offer loans that only get you into deeper trouble (including lenders that advertise on TV). There's one lender advertising to get you out of the Bad Idea Loan that they were pushing last year!   What nerve.

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Don't Sign Your Deed Over To Anyone!

You may think that the worst that can happen is to lose your home -- Wrong!   The worst that can happen is to lose your home and still owe the money!

There are many evil deeds in this world - this is one of them:

The predator says he will make your mortgage payments for you if you sign your deed over to him. Then he will rent your home back to you. Later... you can get your home back.

But, the reality is:

You have signed over your rights in the property but, YOU HAVE NOT BEEN RELEASED FROM THE DEBT. This, so-called, "investor" stops making your mortgage payments and the lender forecloses. The "investor" holds the deed and you are out of house and home.

There are times to sign over your deed:

1) In a ligitimate sale using a real estate agent and title company.

2) In a ligitimate sale by owner using a lawyer and title company.

3) In a Deed in Lieu of Foreclosure arrangement WITH YOUR LENDER ( a near last resort effort ).

"I Buy Homes for Cash"

Why would someone offer to buy your home and warn you not to use a real estate agent or a lawyer?

Because he's an equity thief.

This type of "investor" won't offer to buy if you have little or no equity in your home because there is nothing to steal. He runs if the lender has already started the foreclosure process because he knows that ( even if you have a lawyer ) nearly every lender REQUIRES that your home be listed BY A REAL ESTATE AGENT IN THE MLS before they will consider taking a loss. Yet, he is asking YOU to sell at a loss.

Nearly all ligitimate investors work with your lender and real estate agent.

Remember... the Bad Guy always tells you not to call for help.


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Equal Housing

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ORLANDO REAL ESTATE  ·  FLORIDA REAL ESTATE
DISCLOSURE INFORMATION

Barbara Pepitone is a
Florida Real Estate Broker Associate
REMAX Properties SW II
2075 Town Center Boulevard
Orlando, Florida 32837.

Florida Mortgage Broker
Clifton Financial Services
Winter Park, Florida

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Orlando, Florida