Not at all is my review based on the company deactivating my account once I found out the truth about how much I should actually be getting paid and telling the CEO what I was told.
Linked-In The possibility of losing your home to foreclosure can be terrifying. The reality that scam artists are preying on desperate homeowners is equally frightening. Many companies say they can get a change to your loan that will reduce your monthly mortgage payment or take other steps to save your home.
Some claim that nearly all their customers get successful results and even offer a money-back guarantee. Others say they're affiliated with the government or your lender and still others promise the help of attorneys or real estate experts.
Unfortunately, many companies use half-truths and even outright lies to sell their services. They promise relief, but don't deliver. In fact, many of these companies leave their homeowner customers in worse financial shape. The Federal Trade Commission FTCthe nation's consumer protection agency, wants you to know that there is a Rule in place to protect homeowners.
The Mortgage Assistance Relief Services MARS Rule also known as Regulation O makes it illegal for companies to collect any fees until a homeowner has actually received an offer of relief from his or her lender and accepted it.
That means even if you agree to have a company help you, you don't have to pay until it gets you the result you want. If you're struggling to make mortgage payments or facing foreclosure, the FTC wants you to know how to recognize a mortgage assistance relief scam and exercise your rights under the Rule.
And even if the foreclosure process has already begun, the FTC and its law enforcement partners want you to know that legitimate options are available to help save your home.
How the Scams Work Fraudsters use a variety of tactics to find homeowners in distress. Some sift through public foreclosure notices in newspapers and on the internet or through public files at local government offices, and then send personalized letters to homeowners.
Others take a broader approach through ads on the internet, on television or radio, or in newspapers; posters on telephone poles, median strips, and at bus stops; or flyers, business cards, or people at your front door.
The scam artists use simple — but potentially deceptive — messages, like: We know your home is scheduled to be sold. By knowing how their scams work, the FTC says you'll be better able to defend against fraud. Phony Counseling or Phantom Help The scam artists tell you that if you pay them a fee, they'll negotiate a deal with your lender to reduce your mortgage payments or to save your home.
They may claim to be attorneys or represent a law firm.
They may tell you not to contact your lender, lawyer, or credit counselor. They promise to handle all the details once you pay them a fee. Then they stop returning your calls and take off with your money.
Sometimes, phony counselors insist you make your mortgage payments directly to them while they negotiate with the lender. They may collect a few months of payments — and then disappear.
|Information for seniors and their loved ones||Home Consumer Alert Many people who are in the foreclosure process are desperate to save their home, and with that is vulnerability from con artists intent to prey on this desperation.|
|Hi, I'm ARLO and I Love Questions!||Federal Employee Services Description:|
|Federal Trade Commission||This event marks one of the few worthwhile opportunities to interface with senior U. This highly respected program is truly the ideal forum for meeting and re-connecting with peers, and hearing important government updates.|
The "Forensic Audit" In exchange for an upfront fee, so-called forensic loan "auditors," mortgage loan "auditors," or foreclosure prevention "auditors" offer to have an attorney or other expert review your mortgage documents to determine if your lender complied with the law.
The "auditors" say you can use their report to avoid foreclosure, speed the loan modification process, reduce what you owe, or even cancel your loan.
In fact, there's no evidence that forensic loan audits will help you get a loan modification or any other mortgage relief. Rent-to-Buy Schemes Con artists who use the rent-to-buy scheme tell you to surrender the title to your house as part of a deal that allows you to stay there as a renter and buy it back later.
They say that surrendering the title will let a borrower with a better credit rating get new financing and prevent the loss of the home. But the terms of these deals usually are so expensive that buying back your home becomes impossible. You lose the house and the scam artist walks off with the money you put into it.
Worse, when the new borrower defaults on the loan, you're the one who's evicted. In a variation, the scam artist raises the rent over time so you can't afford it. After missing several rent payments, you're evicted, leaving the "rescuer" free to sell the house. In a similar equity-skimming scam, fraudsters offer to find a buyer for your home, but only if you sign over the deed and move out.
They promise to pay you a portion of the profit when the home sells. Once you transfer the deed, they simply rent out the home and pocket the proceeds while your lender goes ahead with the foreclosure.
You lose your home — and you're still responsible for the unpaid mortgage because transferring the deed does nothing to transfer what you owe on the mortgage. Bait-and-Switch In a bait-and-switch scam, con artists give you papers they claim you need to sign to get another loan to make your mortgage current.
But buried in the stack is a document that surrenders the title to your house to the scammers in exchange for a "rescue" loan.
You don't have to pay any money until the company delivers the results you want. It's illegal for a company to charge you a penny until:American Conference Institute’s 35th International Conference on the Foreign Corrupt Practices Act is widely regarded as the premier flagship anti-corruption conference.
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