The problem with this type of service is that the "rescuer" cannot guarantee that they will actually prevent your foreclosure from occurring, yet they still collect your fee up front. If you want to protect yourself as a homeowner in a bad financial situation, there are much easier ways to do it without paying exorbitant fees to "rescuers" who more than likely will not be able to help you.

- List and Sell - This is a scheme that is becoming quite popular among real estate agents and brokers looking for additional income streams. The concept is simple: The real estate agent convinces a homeowner in default to allow the agent to list the home in an attempt to sell it. The real estate agent promises that if the home is not sold within the period before the foreclosure auction, which is typically around sixty days away, he or she will purchase it.

But here is the catch: In too many cases, the real estate agent will drastically overprice the property when listing it in the MLS or Multiple Listing Service, so that nobody expresses any interest in purchasing it.

Then when it does not sell, the agent is able to purchase it for substantially less than what it was listed for.

- Hiding things in the contract - Some scammers and predatory lenders like to hide a variety of different bombshells right in the contract where they cannot be found. They wait until the absolute last minute, and then make these hidden terms known. By now, it is too late for the homeowner to renegotiate the contract, and he or she is trapped dealing with the true intentions of the contract.

Homeowners who are caught in situations like these are very rarely capable of seeking legal advice. They suddenly find out that there are costs behind their resources, but if they fight the contract at closing they could potentially lose their home in the foreclosure process.

There are a number of organizations, like ACORN or the Association of Community Organizations for Reform Now, the Consumer's Union, and the United States Office of Housing and Urban Development or HUD that offer extremely vital and valuable insight into protecting yourself from predatory lending practices and everything that is well within your power to combat these dangerous practices.

For more information, please visit us at:

www.pinnacle-investments.com, www.7dayloanmod.com

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