Statistics have indicated that foreclosure in Houston has drastically increased over the past few years. Clearly, many homeowners in this part of the country are going through a rough patch. People are losing homes and this has given unscrupulous individuals an opportunity to prey upon those who don’t know any better. I’m talking about foreclosure scammers in Houston, Texas.
Houston foreclosure scammers are at a record high. I’ve been having conversations with different people who fear banks are about to foreclose their homes and I must admit at some point they gave me stories that were a tad bit disturbing. As if worrying about losing a house is not enough, you also have to worry about scammers looking to make quick money from your predicaments. I call them the “real estate vultures” because they masquerade as real estate cash investors in Houston, Texas.
‘We Buy Houses’ companies are not similar
Yes, we do have companies that buy Houston homes at a fair price and they are reputable. We are the best example of once such company. If I’m selling my Houston home in Texas I’d want to get in touch with them because they usually buy Houston properties as-is and for cash. They don’t depend on financing so closing the deal in less than a week is very much possible. Plus, you don’t have to accept the offer they make you if you don’t like what they are offering.
If you do your due diligence you can easily spot the difference between an investment scammer and a reputable real estate investor in Texas. I’d love to think this piece will act as a consumer awareness guide to all those people looking to buy and sell real estate in Houston. Let it help you avoid foreclosure scammers and pinpoint trustworthy ‘We Buy Houses’ companies in Texas.
Signs That You Are About To Encounter Houston Foreclosure Scammers
Charges fees upfront
Help should be free, right? So if someone is asking to help you with something and in return they want ‘something small’ in the form of cash, be cautious moving forward. We do have companies out here who charge clients for mediating with the lender. Don’t fall for it! Banks are always happy and willing to help you figure out what options are available for you on the table for free. If you think you need to get some mortgage assistance, simply walk through their doors and ask to talk to one of the customer relation managers.
Trying to compel you to quickly sign over the deed
If you have to sign the deed go ahead and sign it at the title company and not on the kitchen counter. They’ll try to convince you that the only way you can save your Houston home but we all know that once the title on the deed changes you no longer own the property. The question you should be asking them is, “How am I going to save my Houston home if I’ve already lost its ownership title?”
This is the case where you are convinced the remaining monthly payments should be directed to the scammer instead of the bank. They’ll tell you they have the ability to handle the bank payments on their own. This is yet another red flag you should take note of.
To learn more about foreclosure scammers in Houston, call us today!