|
There is an old saying that warns, "If an offer looks too good to be
true, it probably is." In matters of real estate, remember this saying,
"If you didn't initiate the contact, be cautious of the deal being
offered." Because of the current downturn in the economy, there are
individuals who are taking advantage of what they see as a golden
opportunity to help themselves - not you, the consumer. The content
below is for informational purposes only and is not a substitute for
legal advice. Do your research and protect yourself. Stop and look both
ways before being "hit" by these real estate scams:
Reducing Property Tax Assessments for a Fee
Homeowners are being solicited by companies, claiming they can reduce
their property tax assessments for a fee. While they have "official"
sounding names, property tax reassessment is a free service provided by
county tax assessors.
If homeowners believe their property value has declined and they
believe that they are paying too much in property taxes because of the
depreciation, they should contact their county tax assessor to review
the property value. The California Board of Equalization has prepared
an informational guide to assist residential property owners with
completing property assessment appeals. This form, Residential Property
Assessment Appeals (Publication 30), may be found on their website at www.boe.ca.gov . Orange County residents, who wish to appeal their assessments, should visit:
assessmentappeals.ocgov.com/aa/ for more information.
If you believe you have been a victim of this type of scam, please
contact the California Attorney General's office by either calling
1-800-952-5225 or by writing to P.O. Box 944255, Sacramento, CA 94244.
Advanced Fees for Loan Modification
Homeowners who are behind in their mortgage payments may be contacted
by individuals or companies offering to modify their loan terms to
avoid foreclosure. Be wary of anyone requesting an advanced fee to
negotiate a modification of terms with your lender.
There are a variety of non-profit agencies able to assist you with
loan modification, who will not charge a fee. For more information
about such agencies located in Orange County visit: www.OCAR.org/ForeclosurePrevention.asp
for a partial list. Additionally, you may want to visit the U.S.
Department of Housing and Urban Development's website, which boasts a
comprehensive list of such agencies: www.hud.gov/local/ca/homeownership/foreclosure.cfm .
If you are seeking more information on "advanced fees" and who is able
to collect them, please visit the California Department of Real
Estate's website: www.dre.ca.gov/mlb_adv_fees.html
There are a multitude of resources and agencies that are constantly
updating their information to guide and protect consumers from
deceitful business practices and predatory lending. Arm yourself with
this information to protect not only your financial health, but also
one of your most important investments - your home.
The Orange County Association of REALTORS® is the Association of
choice for over 10,000 Orange County real estate professionals from San
Clemente to Huntington Beach. REALTORS® do more than sell homes.they
protect consumers.
|
