Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

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Knoxville Short Sales: How To Spot A Short Sale Scam

guy_watching_with_binoculars_id425852_size155For Knoxville homeowners facing foreclosure, there is a lot help out there to help you avoid foreclosure. Unfortunately, there are also a lot of scams out there. If you're thinking about doing a short sale on your Knoxville home to avoid foreclosure, here is how to spot a short sale scam. Short sales scams can come in a variety of different shapes and sizes. Many Knoxville homeowners facing foreclosure have tried many different solutions to avoid foreclosure and can be willing to try almost anything get get out of there current situation, which can sometimes make them more vulnerable to short sale scams. Here are a few common red flags for short sale scams:
  • The scammer will want a fee upfront. They may be promising to help you refinance, get your loan modification approved or help stop foreclosure. Any party that asks for a fee upfront is likely up to no good. You will never pay a fee up front to a short sale Realtor or to participate in a federal program, like the Fannie Mae Modification Program or the HARP Refinance Program.
  • The scammer guarantees 100% that they will be able to preform a specific task, like getting your short sale approved or stopping foreclosure. Even the best short sale agent will not make a promise like that. There are not guarantee with stopping foreclosure or getting a short sale approved.
  • The scammer advises you to stop paying your mortgage and make payments to them.
  • The scammer pressures you to signs paperwork without giving you time to review it.
  • The scammer pressures you to signing over you home to them.
  • -A third party asks you to reveal personal information about your home and loan over the phone. (You can clearly tell they don't work for your mortgage company.)
Knoxville short sale scams promise things that are too good to be true. As a Knoxville homeowner facing foreclosure, be sure to do you research before coming involved with any party that promises things that are too good to be true. If you feel you've been approached by a scammer, be sure to report it to the Tennessee Attorney General, the Department of Housing and Urban Development, or your local FBI branch. If you're facing foreclosure, please let me know if there is anyway that my team and I can assist you. You can give us a call at 865-696-9002 or send an email to [email protected]. Also, be sure to check out our Knoxville Short Sale and Foreclosure Solutions Page.

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