Phoenix, Arizona (PRWEB) September 16, 2006
In this economy, many consumers are finding themselves falling behind on their monthly obligations – including mortgage. If a consumer is having trouble paying their mortgage, there’s a chance they will be contacted by a “lender” offering to help solve their financial challenges. This person will tell the customer that he or she can find them new financing, but that they must sign their deed over to him or her first.
“What inevitably happens,” says Hal Jolley, President of Blue Financial, “is that the new financing never comes through, and the home you’ve worked so hard for now belongs to someone else. The ‘lender’ can now sell your house, or borrow money against it, and you’ve become a tenant in your own home, paying rent instead of a mortgage.”
Jolley says, "You can protect yourself from these types of scams by taking a few simple steps.
- Don’t sign anything if you haven’t read it thoroughly.
- If you’re being asked to sign over your deed, consult an attorney, or someone else familiar with real estate practices and laws.
- Don’t let your financial situation cloud your judgment or cause you to make rash decisions. Again, seek advice from someone knowledgeable, whom you know you can trust.
- Check references. If someone promises a “too-good-to-be-true” solution, that’s probably what it is. Ask for references from previous clients and check them out, check with the Better Business Bureau, and ask other financial institutions."
Blue Financial wants you to protect your investment from scams, and we want to help you. If you have questions about lending practices, contact us, and we’ll do all we can to help.
For more information on the news that is the subject of this release or to interview Hal Jolley please call Mr. Jolley at 480-682-2583 or visit http://www.bluefinancial.net
Blue Financial was founded in 2002 to provide Arizona homeowners with less than perfect credit a place to borrow money at low rates, and to assist homeowners, through a refinancing transaction, to move toward the path of financial freedom by consolidating their debt, improving their monthly cash flow, and improving their credit history.