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Are there any precautions I can take?
- Here are several precautions that should help you avoid being “taken” by a scam artist:
- Don’t sign any papers you don't fully understand.
- Make sure you get all “promise” in writing.
- Beware of any contract of sale or loan assumptions where you are not formally released from liability for your mortgage debt.
- Check with a lawyer or your mortgage company before entering any deals involving your home.
- If you’re selling the house yourself to avoid foreclosure, check to see if there are any complaints against the prospective buyer. You can contact the court for this type of information.