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Foreclosure Deals Sound Too Good to Be True? They Probably Are
 

Foreclosure Deals Sound Too Good to Be True? They Probably Are
Date Posted: 2009-06-25

Foreclosure Deals Sound Too Good to Be True? They Probably Are!

 

Homeowners Should See Red Flags When Businesses Demand Upfront Fees

 

As in every calamity, there are people taking advantage of people in distress, the housing market is no different. According to Ned Randolph of the San Diego Business Journal, thousands of San Diego homeowners facing foreclosure are easy prey for unscrupulous “foreclosure consultants” offering to get their home loans lowered by lenders.

 

Decreasing home values left San Diego borrowers with mortgages exceeding the value of their homes. Someone offering to help them lower their mortgage and avoid foreclosure is welcome news. Many of these “foreclosure consultants” are sending out mass mailers to homeowners who have received notices of default.  Homeowners are being promised that they can negotiate with their lender and get the bank to lower their loan or rewrite the note in return for a fee and many are willing to accept these “consultant’s” offers. Read the full story by clicking on the following link.

 

http://www.sdbj.com/article.asp?aID=128623&link=perm

 

 

 

Posted by Nick Alameddin at 17:19:37
 
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