The word is out! If you just pick up the phone and call your mortgage servicer, they will take care of you and help you out of the foreclosure process holding your hand all along the way. These mortgage servicers are on your side and want to save your home.
You can trust them, right? WRONG!
To me it seems that recently a flood of money has poured in to major network’s advertising pockets and we are being fed so-called “news” regarding how easy it is to obtain a loan modification or other home loan resolution. A great number of radio ads and ads on the internet claim that consumers can do everything on their own…easily.
I’ve read the information these “consultants” provide and have gone to their websites. They are propagating the same, re-hashed, garbage material, some of them charging money for it. Meanwhile, consumers get caught up in the fever of the hype and in the process lose their homes.
And the government seems in on it too.
Right now our government and the media is advertising that help is free for struggling homeowners. Their advice is to just call your lender or mortgage servicer without proper legal help and I think millions of homeowners continue to get screwed because of that crappy Washington and media advice.
So who can you trust?
Yes, there are A LOT of scams out there in the home saving business. But there is also great amount of legal help available for those homeowners that cannot get help from a non-profit or their mortgage servicer. FYI America: that number of people is in the millions and they are people too. They need help just like everyone else needs it too.
I have seen COUNTLESS homeowners get scammed a 2nd time by their lenders for not having the proper legal representation during the loan modification process. Just take a look at the thousands and thousands of stories of homeowners trying to get help on their own on my forum at www.LoanSafe.org and the 5 million others who couldn’t and have already lost their American dream.
Where were the mortgage servicers then? Where was the government?
Some saved their American Dream after 8 months of work and calls to only be scammed again by their mortgage servicer who charged them bogus delinquent fees in the thousands. Yes!!! Some were charged $5,000-$30,000 in fees that were placed on their mortgage principle amount due and they have no idea. Until I tell them or the attorney does.
But then it is too late becasusewhen they obtained their loan modification, the deceptive mortgage servicer threw in a release of liablity clause. Essentially wiping out the homeowners right to pursue legal recourse EVER!
Ands lets not talk about the data of loan modifications in the past year that the the Office of The Computroller had released information from all the main mortgage servicers claiming that half of all loan modifvication go back into foreclosure within 6 months.
I wasn’t surprised because who was in charge then? The mortgage servicers and non-profits, DUH!!!
Also, I know some homeowners who have 2-10 properties and may work 2 jobs. How can they do this on their own? They don’t have time to call in the day, let alone sit on the phone for two hours almost daily for 6 months to get their modifications completed.
Some people need lawyers and some don’t. I was hoping with the thousands and thousands of hours of free work we have done here, the FREE help we offer daily, the FREE help we ALWAYS refer to and this unique forum can empower the American people to get educated and make these decisions on their own.
Even the great state senator of Ohio, Mary Kaptur agrees with me when she had said this:
Kaptur led the fight in Congress against NAFTA. Now, she is recommending a radical foreclosure solution from the floor of the U.S. Congress: “So I say to the American people, you be squatters in your own homes. Don’t you leave.”
She criticizes the bailout’s failure to protect homeowners facing foreclosure. Her advice to “squat” cleverly exploits a legal technicality within the subprime-mortgage crisis. These mortgages were made, then bundled into securities and sold and resold repeatedly, by the very Wall Street banks that are now benefiting from TARP (the Troubled Asset Relief Program).
The banks foreclosing on families very often can’t locate the actual loan note that binds the homeowner to the bad loan. “Produce the note,” Kaptur recommends those facing foreclosure demands of the banks.
No one has done more to expose the truth on the internet and educate the people then my tam and myself. Just a handful of people and thousands of members have done far more to improve the modern consumers understanding of the foreclosure crisis than we have.
Personally, I see a lot of blaming and finger pointing by newbie’s who don’t know about how this business works. I also observe many homeowners who do not take the time to get educated and research companies before they hire them. One can’t possibly make an educated decision on saving their home without a basic understanding on how the legal system works, how non profits work, who can get help from them and who can not or how the loan modification process works.
Yes, it takes time and work, but it is all available on the interenet and since I do a lot of this research for you, it is available here on my blogs and forums.
Also, there are people who have been scammed on their mortgages and homes. They don’t need Hope Now, they NEED a competent lawyer andthat is hard to find in this business!!!
To refer them to the same people who scammed them (banks) or a anyone else other than an attorney is not doing them a service. It is a disservice. If anything, the non-profits should all have staff attorneys assisting each and every client that calls in with a legal situation because that is exactly what most homeowners are in.
Our team at www.LoanSafe.org and at www.LoanWorkout.org has helped thousands of people for free. We give all the free resources on this site and our other sites. But we need help and I am asking my readers and reader lawyers to assist us in doing that.
I am always searching for competent law firms that can handle the phone calls and inquiries that this blog and forum generates. If you would like to help homeowners the right way or have any ideas on how we can get homeowners free or low cost legal services then I am all ears.
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