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3 Tools to Avoid Being Scammed

May 1, 2010

I just had a conversation with a “loan modification company” that is telling an acquaintance that they can rescind his foreclosure in 90 days.

When I asked more about the programs; who the attorney was, what their license # was I got ” I am not authorized to disclose that information”.

To me that means they are a scammer. If they are doing licensee activity without a license something’s not right. He tried to play this off by saying they were a “non-profit” but he didn’t have their 501c3 number.

To make matters worse, this seems to be more prevalent in the minority market where just because they speak the same language the scammer is trusted.

Here are three simple things you can do to protect your pocketbook:

1) Know who you are trusting with your social security number, bank statements, pay stubs and tax returns!!?? Licenses can be checked at http://www2.dre.ca.gov/PublicASP/pplinfo.asp

2) NEVER give up front monies. NEVER!

3) Check references. It takes 5 minutes and can save you thousands of dollars and hours cleaning up the damage to your credit!!

In my 22 years of home and property sales, I have met a lot of excellent agents. I truly believe that the majority of agents are great people doing their best for their clients. Just remember, “agents” come with licenses and have years of excellent references for you to check while “Joe  the check out guy at the all night gas station” does not!!

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