Just before logging out tonight and heading to bed I noticed a headline that made me pause and reminded me to write to you. It was an article on the dramatic rise in foreclosures in the U.S.

Now anyone reading my blog is certainly aware that this is the case, and I could have logged off and headed to bed if that were all. My thoughts drifted to all of my friends, and visitors to www.givemegreatcredit.com in the past few months, who have asked questions about the stopping of their own foreclosures that I am writing to now.

There is a parasitic element to any business, bottom feeders that prey on the decent people who need good advice. They have attacked my bulk email box like locusts on a corn field, and I am assuming yours too. Their scam is far worse than the Nigerian Letter scam, or the Pay Pal, 419, or any of the other scams you can list. It is past time I addressed this and answered your questions. 

If someone is offering to stop your foreclosure for a fee, run do not walk away. Ask them to never contact you again even if they offer a money back guarantee. They are worthless, every single one of them, and their success rate is less than 10%. Even then, the successes have little to do with the work they do, but more with the amount of equity found in the home in question. Only those that have equity left will be able to get relief in the form of refinance. 

If the REO specialist calls to offer you a settlement on moving out of your home, negotiate with them and move forward. It will save you time and loads of money, and in the end you will be able to use the money offered to secure a roof over your head. If you charge the fees on your credit cards these leeches are charging for nothing, you have just dug your hole that much deeper. Who needs that right now?