Posts tagged as:

predatory lender

Predatory Lending by Mortgage Brokers Magnify the Foreclosure Crisis

by Moe Bedard

Many of these OC brokers operated for years in the wide open and most recently (from 2005-2007), selling nothing but negative amortization mortgages (AKA Pay Option ARM or Pick a Pay) throughout the Golden State to borrowers that should have never, ever been placed in that loan.

$20-30,000 commission checks for a loan in 2004-2005 were as common as foreclosures are today….

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Fannie Mae & Freddie Mac Failure: The Lies, the Cover Ups and the Making of a Disaster

by Moe Bedard

Wall Street Journal October 4, 2004:
Fannie Mae isn’t an ordinary company and this isn’t a run-of-the-mill accounting scandal. The U.S. government had no financial stake in the failure of Enron or WorldCom. But because of Fannie’s implicit subsidy from the federal government, taxpayers are on the hook if its capital cushion is insufficient to absorb [...]

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Bring Down the Banks with these Foreclosure Defense Tactics

by Moe Bedard

Get your gloves on and start training for the fight of your life because foreclosure defense is going to be no easy battle. Make no bones about it, you are definitely fighting against one of the toughest and most powerful opponents in the world. The banks
Let’s get one thing straight here ladies and gentleman. The [...]

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Your Loan Documents May be the Secret Key to Obtaining a Loan Modification

by Moe Bedard

Homeowners Warning: Beware of new scams using this as a tool to fight lenders by scammers and out of work mortgage brokers everywhere!!! This post is from early 2008 and the times have changed folks. Yes, it can work and help, but when used with a lawyer who can properly represent you.

I have studied and [...]

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Predatory Lending Touches Everyone

by Moe Bedard

There seems to be a misconception that predatory lending only touches the lower income and minority communities of America. I’m here to tell you that it touches everyone and anyone can become a victim. It doesn’t matter if you have a $50,000 mortgage or a $3 million dollar mortgage. You can become a victim and there [...]

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