I have been in contact with a company called Foreclosure Alternatives. Paid $850 fee to them, they are supposed to arrange repayment plan with lender. I made 1st payment (original mortgage payment + 20%) into savings acct. as told, plus forwarded W-2’s, pay stubs, financial info, etc….
Now have received Notice of Sheriff’s Sale. Is this company legit, or have I been scammed? I was behind due to being on medical LOA from work, but will be returning to work this week full-time. Sheriff’s sale is scheduled for December 8th. Should I stay with this company, or contact another attorney? Do I have enough time to stop the Sheriff’s sale?
Lisa,
Have you tried contacting Foreclosure Alternatives. If so what are they telling you, If they can’t stand up to what they promised you, then I would talk to your attorney, however he might no be able to stop foreclosure. Is there enough equity so that you can refinance or open a line of equity? You might be able to use your equity to get yourself current.
I hope this helps,
Let me know if you need additional information.
Raquel
Lisa, this is most likely a scam, the question now is, are they scamming you for $850, or are they trying to seal your home? Most states have laws that limit up front fees for these types of companies ($50 in my state).
Call my office on Monday and I can check into refinancing for you. We specialize in foreclosure lending.
Mike
Lisa,
You need to talk to your lender and see if they will allow you to do a forbearance agreement. Meaning you need to work out a deal with the lender. This doesn’t cost you anything. Tell them of your situation and that you are returning to work and will be able to make payments. Ask them if they will add the amount you are delinquent to the back of the loan and you will continue making regular payments. Try to work out something with them – they do not want to send this home to foreclosure any more than you do.
Also, you may want to see about getting your money back from this company. It appears they may not be helping you like you thought, therefore, they are taking your money. Usually there are laws against this like Mike said. You shouldn’t pay a company upfront for work they don’t do. Get your money back. You need it more than they do right now.