What Should I Know Before Accepting an Offer to Stop Foreclosure?

Before signing anything, understand exactly what you're agreeing to give up (equity, ownership, future claims), whether the offer is from your actual lender/servicer or a third party, what happens to any remaining deficiency, and whether the terms are actually in writing versus a verbal promise.

Red Flags to Watch For

Be especially cautious of offers that require you to sign over your deed "temporarily," stop paying your mortgage entirely, or pay someone else's fees before anything is finalized.

A legitimate offer to resolve your situation can withstand a second opinion — if someone is pushing you to sign today without letting you review it, that pressure itself is a warning sign.