Virginia Beach and Virginia Home Foreclosure Help On the Way
Posted by Dennis Blackmore in Foreclosures, Main category, tags: Foreclosures, Real Estate, Virginia BeachI am thrilled to now say that Delegate Sal R. Iaquinto, R-Virginia Beach is taking the Virginia Beach, Chesapeake, and Virginia home and condo predatory real estate foreclosure matter seriously.
As announced in today’s Virginian Pilot Newspaper, Delegate Iaquinto has now introduced a home foreclosure consumer protection bill. Details include:
- Those entities offering assistance to real estate owners potentially facing home foreclosure must
disclose what they do and services provided.
- A three day cooling off period where the home owner facing foreclosure has the right to cancel or rescind the contract.
The article went on to say that these “assistance companies” (translation: predators) sometimes take
advantage of home owners in trouble financially or facing home or condo foreclosure under
the mantra of “we are here to help you”.
Whenever you hear that term you should run.
Clearly this will not stop the current method in which these
home foreclosure helpers operate, but at least now the homeowner might get a little
more educated before giving away the farm.
I consistently repeat that these companies are in business
to make money, even bigger money if they can take advantage of someone.
Let’s look at a better way for the homeowner/consumer:
- Contact your mortgage company ASAP if you may be facing home
mortgage financial trouble.
- Contact your REALTOR® for consultation. We
may be able to offer alternatives or suggestions. That is our job - people and real estate. Trouble with escalating mortgages, bills, etc., is not new to us. Do not be afraid
to call for advice.
- Consult a Real Estate Attorney at Law to review any documents provided. Ask your REALTOR® for attorney references if necessary.
If you will just consider these steps above you may save yourself a lot of heartache and more importantly your home.
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to suit your lifestyle and needs.
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