Aug. thirty – Consumer advocates and authorised experts have been advising homeowners to watch out for scams as foreclosure rates fire by the roof. One renouned fraud is the suggest to assistance a uneasy homeowner get a brand new mortgage, and at a closing, pretence the homeowner in to pointer divided the help to the property. Conway G. Gittens reports from New York
Kick ass accurate.
Sunntzu, I hear what you are saying and people do need to make wise choices. However, there are also cases of people being lured and lied to about low interest rates that conceal the fact that this is an ARM Loan that could increase within the traditional 24 month period. People do need to be responsible but predatory lending is also to blame. But, I do hear what you are saying and you have a strong point.
Oh, and, please no one run up talking about “I had a good paying job before I lost it”. Well, if you do not have at least 10,000 in the back, or enough to pay your mortgage for 90-120 days, then, guess what, you were not prepared to buy a house. Some people get lucky and live check to check and never have a problem, but that is a VERY THIN line to walk on…
I love how people are crying about how the brokers and lenders got them into this “mess”. WtF is wrong with some people. Is there no account for our actions anymore? Let me ask this, who’s name is on the line? Yours or the lenders/brokers? I would suspect, YOURS!!! So, you had a right not to sign for the house unless you are a rampant retard!
Quit putting your name on shit which you can not afford, problem solved.
I know this is old, but you’re wrong. Yes, you do pay taxes for property, but since when do you pay taxes for a vehicle that’s over 15 years old? I have about 16 vehicles, which I pay NO tax for. As far as land and houses go, yes you have to pay taxes, but some people DO NOT pay shit, if you’re over 65 and dont file. Land taxes you pay, but some go 1yr without paying any taxes on home or land. Try doing that with an active mortgage? That shit will be taken in 90 days.
We all need to just walk away from our homes that are all upside down. That would teach the real estate market a thing or two. Especially the brokers that got us into this shit.
California’s Mortgage Foreclosure Consultant Act at Civil Code 2945.4(a): “It shall be a violation for a foreclosure consultant to:
(a) Claim, demand, charge, collect, or receive any compensation until after the foreclosure consultant has fully performed each and every service the foreclosure consultant contracted to perform or represented that he or she would perform.”
3 people were busted in the state of Nevada for doing bogus loan modifications. They were taking money from the homeowner and not providing any service. 2 have been arrested and one fled to the Philippines. This is why you never pay anyone up front fees for loan modifications.
I am going to foreclosure and don’t care. My house is upside down and it was a starter house anyway. I’ve sunk $40k of my own money into this house and have nothing but negative equity. They can take this house. I’d be glad to rent an apartment and not have to pay for repairs or waste tons of money on property taxes. I’m so happy the real estate market crashed. Now I can move and rent something affordable in town.
People can actually save their homes though.
There is only 1 company I know of that actually helps people either save their homes or helps them with short-sale.
Check out “L&E Consulting Group”
Especially with the economy crashing like it is, People need this help.
No I am not in foreclousure thank goodness but the law proctects the borrower too much and no leeway for the lender, just like all the global firms now they have no authority, it is the poor consumer that is going to suffer not to mention the worker on minimum wage, hope you are not in foreclosure not a nice place for anyone to be!!!
Yes that would be good advice if there was not a nationwide law that prevents the lender from negotiating with you. You are obviously not in foreclosure! By law if you are 30 to 45 days behind you must have 3rd party representation. This is the only way to get back on track.
Again, be in charge yourself, if you are in trouble, don’t rely on anyone who says they can help for a fee – waste of money that you need – go direct to your lender and sort it out, if in doubt get someone from legal aid to go over documents before you sign, it is that simple!! BE EMPOWERED
Let me try to figure out you faggot that what are you doing the AMERICAN website, commenting on something related to American. You shitty (is that how you like it??) people needs to take your fuking shit back whatever shit hole you came out with. By the way I own my home and car free and clear so as other millions of us. So stop feeding on out shit you fuking pig. By the way PAYED was classic and I will use it to show people how stupid UNAMRICANS are your douchebag mother fucker asshole.
Thanks for correcting me on my spelling of PAID. But while you’re making a spelling correction why don’t you make sure all your words are spelled properly you stupid motherfucker. Like SHITTY, or COUNTRY, you dumb sack of shit. Or maybe you should have stated, “I don’t know what” instead of “I don’t what,” you incoherent son of a bitch. I stated my opinion up here only. I didn’t insult anyone. Fuck you very much for correcting my one grammar error. Now go work on the three that you made faggot.
As a REALTOR who helps people that are in a foreclosure situation, the first advice I always give is for them to talk to their bank, next, for them to talk to a bankruptcy attorney. Based on the recommedation of the attorney and the loan situation (number of loans, PMI, etc) then, and only then, we can pursue a short sale with the home.
There actually are good foreclosure help companies out there but they often actually charge less than the scammer types.
Also, there is one bad piece of advice in this video. Mortgage companies will always, ALWAYS, say not to work with a 3rd party even though the mortgage company doesn’t come up with a solution themselves. The Better Business Bureau website is the best way to check up on these foreclosure help companies. Have they been in business a couple yrs with a flawless record? My 2cents..
You should take your 19th century mentality and grow up. I don’t what shity country you live in that has no taxes. No one likes paying taxes but its necessary to run the contry efficiently. By the way its not PAYED, its PAID. buttface.
guitarbandit7498 I WOULD LIKE TO AGREE WITH YOU WE DONT OWN SHIT U HAVE A CAR YOU STILL HAVE TO PAY INSURANCE IT MY CAR SO IF I DONT HAVE IT HERE IN MICHIGAN WE HAVE NO FAULT
You people think you own your home? People of America don’t own shit. Disagree with me? Got any land? How about a car? Maybe even a house… Gotta house you’ve owned for 40 years, free and clear, no mortgage? Sounds great! No house payment, car payed for. what a life. Now don’t pay your property taxes and see how much longer you have them. Fucking government owns EVERYTHING and LEASES out to us poor saps, period. If it were yours you wouldn’t still be paying taxes on it. Just my opinion.
great post the real estate call center
joe garcia of Caballero & Associates Realty
The banks and credit unions are corrupt. These people will put a family of 5 out on the streets and go out to a $1,000 dinner that same night with their collegues to celebrate.
BEWARE!
ALSO BEWARE OF SHORT SALES AND “MORTGAGE BROKERS” CLAIMING THEY’LL SIGN YOU OFF THE TITLE.
I know an outta work X-subprime mortgage worker who does this now. He signed some people off the title to help them avoid foreclosure USING HIS MOM’S CREDIT (cause his was shitty). Then he shorted the house’s equity to pay the mortgage until the homeowners could pay him a rent fee and save money for a buyback. They ended up defaulting on him and he plans to get the bank to evict them.
This whole foreclosure crisis is based on the ignorance of the people. I know people who’ve educated themselves enough in law to save their homes just by knowing how to address and attack the process used against them in court. It’s almost “easy.” There was a group on the west coast doing it a ton a year ago, and now there are groups on the east coast doing it…very successfully. No one has to lose their home, EVER…it’s a disgusting shame. But this is what happens in an ignorant country.
In debt? Suffering a foreclosure? Work too hard not making ends meet and still wondering why? Discover the secrets why the rich get richer but the rest of us work like slaves. See google video “Money as Debt”.