Protecting Your Home
by: Wyoming Legal Services - Lander Office
Dealing with Contractors & Lenders
When you own a home, salespeople or contractors (a person you can pay to build or repair your home) may offer to help you get repairs done. (They may contact you by phone, by mail, through ads, or by knocking on your door).
They may try to get you to take out a loan to pay for repairs.
If you use your house to secure the loan, the people giving you the loan can take your house if you don't make payments.
Use these tips to protect your home
Be Cautious About Who You Work With...........
- Do not get talked into buying things you don't want or need! Some of these people will try to make money off you, even if you lose your home because of it!!
- Because these people can take your house if you don't pay, you bear most of the risk!
- If you do not make your loan payments on time, you will likely lose your house.
- It does not matter why you are unable to make loan payments. Even if you lose your job or get sick, you must pay.
Before Hiring Someone.....
- Get at least two estimates for repairs you wish to have done. Get them in writing!
- A good estimate tells you the repairs that will be made, how much they will cost. It tells you who will do clean up. It also tells you how much you will pay per hour for extra work.
- Make sure that any person you hire to do work on your house is licensed.
- Get the phone numbers of people the contractor has worked for in the past. If you can, take a look at work the contractor did for other people and see if they are happy.
- Read or have a lawyer read the papers before you sign them. If you don't understand the papers don't sign them! Keep a copy of all papers.
Inspect all work while it is being done. Do not be afraid to remind your contractor how you want things done.
Don't say "Yes" when you mean "No"
If you don't want the service being offered say, "No!"
Don't let yourself get talked into it, even if you think saying "yes" will get that person to leave you alone.
If the contractor or seller tries to get you to sign on the spot by saying it's a one-time offer, say, "No."
You may not be sure if you need the repairs. You may also wonder if they cost too much. In this case, get a second opinion and estimate.
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