Is Running Ads to a Preforeclosure list Illegal?

[Oladimeji Sonibare]

Hey, All!

I’m starting a FB Ad Campaign to help distressed homeowners in preforeclosure and could use some unofficial advice on the law.

For context, I’ll be providing actual support (showing them how to request payment plans, forbearance, etc) and making an offer to them ONLY if we’ve exhausted all options and they’re:

1. Unable to negotiate with the bank.

2. Uninterested in keeping the home.

3. Not qualified for any public/non-profit assistance.

Am I able to run traffic to this offer legally? People typically run traffic to “We’ll Buy Your House” ads and I don’t want to enter any murky legal territory with mine. Just want to lead with value.

What do you think?

 

[Chris Seveney]

@Oladimeji Sonibare

I would be very careful offering support as you typically need to be considered a credit counselor in order to do what you’re doing. While you may be trying to do the right thing, if you buy the house from them below market and they find out later on chances of you getting sued by a pro bono attorney is very high.

I do not know why people claim to try and help a homeowner when they are really trying to help themselves. Just be honest and try and buy the house.