Maybe she meant PO-Noosed.............
Posted on 08/27/2007 5:08:43 AM PDT by Calpernia
The volatile sub-prime mortgage market has resulted in thousands of people being scammed by fake mortgage foreclosure rescue companies that promise big results, but end up draining the wallets of those who are about to end up on the street.
Homeowners say they were either contacted directly by a mortgage foreclosure rescue company or came across a web site while searching for help to stop foreclosure on their home. The companies claimed they would re-negotiate the terms of their mortgages and stop foreclosure actions.
Many paid as much as 13-hundred dollars with nothing to show for it. Melissa Companick of New Jersey's Better Business Bureau says to always check with www.bbb.org to make sure the company is legitimate. She also advises people to never sign a contract under pressure...and to talk to your lender first.
victims of their own stupidity perhaps. read the contract before you sign next time.
>>>Since he never got the money from the first mortgage pay-off, I think my friend is in the clear from the IRS.
Might be a good idea for him to look into that though.
Now of the information on the BBB site indicates they signed a contract.
I think you took it wrong though. This isn’t talking about bringing any industries to its knees. This is a heads up on a scam.
Now = none
I hate it when I get ponuced on!..........
He has competent legal representation, at this point. It is a shame he did not before all this happened, of course.
From what I understand, Wells Fargo gave up on the transaction between the Re-Fi company and themselves. That is the loss they took. From a legal point of view, Wells Fargo never held a mortgage on my friend’s house.
We discuss the matter from time to time (needless to say, he talks about it, a lot!). I will pass along your good advice.
Yeah, I had to look at that word several times too.
If that was me, I would be talking about it alot too. Probably incorporated with several colorful metaphores.
Maybe she meant PO-Noosed.............
This is a call to scare American into demanding these so-called bad guys {Republicans who lend money] are taken care of.
Liebrals know how to get sheeple to read between the lines!
they signed a mortgage contract didn’t they? the headline says “Foreclosure Victims”. I would agree they are “scam” victims.
Racquel doesn’t post her news releases to the web. A guy named Jose Valentin does (not the baseball player). Many times with typos.
>>>That’s not the point, as you are well aware.
Actually, I’m not.
>>>Liebrals know how to get sheeple to read between the lines!
The rescue company scams are a backdoor scam to have the government intervene on the foreclosure industry?
I don’t believe the rescue agreements had/has contracts.
I’m not talking about the rescue agreement. The headline says “Foreclosure Victims”. Foreclosure happens when the borrower can’t meet the obligations of their mortgage. No one gets a mortgage without signing a contract. If a borrower can’t meet these obligations and foreclosure results, they’re not a “victim” of forclosure. That’s not to say some responsible borrowers are not “victims” of some unfortunate event - illness, injury, unemployment or whatever - that leads to their default. But many people get in way over their heads because they take on payments they can’t handle, live way beyond their means or simply don’t read the agreement they enter in to. These people are not “Foreclosure Victims”. They’re victims of their own irresponsibility and/or stupidity.
Since that can been seen as redundant by some, I don’t understand why you are so hung up about the title.
Yeah if I bought a stock at $50 and the next day it goes down to $45 I’m a victim too. What’s always interesting to me is that the same people who are so eager to proclaim victim status when something goes down are only to happy to laugh all the way to the bank when something goes up. You’d think they’d be sorry for the poor bloke that sold them the underpriced asset and wanting to cut them in for a share of the profits. But you almost never see this happen.
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