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We defaulted on our mortage and the house was scheduled for public sale in October of this year. After receiving 1 of several advertisements in the mail from companies/attornies that claim they can stop the sale and offer other alternatives to foreclosure, we contacted a company. After meeting with them they basically offered to file an emergency bankruptcy (for a $260 fee) to stop the foreclosure. They say they have a client that would purchase the house through a short sale but until the short sale is approved we could rent the house from them. We signed a 36 month lease which began in November. After paying the "1st" month rent period we are now leary that this may not be a ligitimate deal. Can you offer any suggestion on if this a legitimate procedure and if not how can we get out of it. If we're going to lose the house anyway, we do not want to be paying rent for a scam.
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Sounds pretty fishy to me. Unfortunately, even despite the efforts that have been taken to irradicate foreclosure scam artists, they're still out there. I can't say for sure on these facts, but I've seen schemes like this before that were scams. I'd make an appointment with a local foreclosure defense or bankruptcy attorney as soon as possible to figure out what's been done and what's going on. The fee for the bankruptcy seems pretty low which makes me think it may be a non-attorney. And the rental scheme just doesn't seem to quite fit. Act quickly - if its not a scam, at least you'll be able to know why and what's going on and if it is, you may be able to stop the bleeding and take steps to correct the ship.
Answered on Dec 04th, 2013 at 3:58 PM