Comments on: Hillary Clinton Releases Mortgage & Housing Proposals http://www.fhaloanpros.com/2007/10/hillary-clinton-releases-mortgage-housing-proposals/ The Unofficial Guide to FHA Loans & Mortgages Sat, 21 Nov 2009 10:03:24 +0000 http://wordpress.org/?v=2.6 By: Peter G. Miller http://www.fhaloanpros.com/2007/10/hillary-clinton-releases-mortgage-housing-proposals/#comment-348 Peter G. Miller Tue, 09 Oct 2007 00:24:56 +0000 http://www.fhaloanpros.com/2007/10/hillary-clinton-releases-mortgage-housing-proposals/#comment-348 Walt -- Thanks for your note. Unfortunately, not everyone is able to defend their interests. For instance, a real estate broker in one of my classes described how a "foreclosure rescue specialist" was able to buy a home for little more than the mortgage balance. The sellers? One was 79, His mother, the other seller, was 103. Foreclosure rescue specialists tell property owners that they can "save" their home from lenders when in fact the foreclosure rescue specialist is simply a buyer. In Maryland we have requirements for foreclosure rescue specialists and jails for those who fail to meet the such standards. Other states, as well, are adopting similar laws. Walt –

Thanks for your note.

Unfortunately, not everyone is able to defend their interests. For instance, a real estate broker in one of my classes described how a “foreclosure rescue specialist” was able to buy a home for little more than the mortgage balance. The sellers? One was 79, His mother, the other seller, was 103.

Foreclosure rescue specialists tell property owners that they can “save” their home from lenders when in fact the foreclosure rescue specialist is simply a buyer. In Maryland we have requirements for foreclosure rescue specialists and jails for those who fail to meet the such standards. Other states, as well, are adopting similar laws.

]]> By: Walt Cleaver http://www.fhaloanpros.com/2007/10/hillary-clinton-releases-mortgage-housing-proposals/#comment-343 Walt Cleaver Mon, 08 Oct 2007 23:37:04 +0000 http://www.fhaloanpros.com/2007/10/hillary-clinton-releases-mortgage-housing-proposals/#comment-343 Reading the last point, 'The Foreclosure Rescue Fraud Act', I can't ignore this sentence, "While some of these consultants are legitimate professionals, others are con-artists taking advantage of distressed homeowners. The fraudulent consultants take money from homeowners without providing any actual service, manipulate homeowners into transferring their property deeds to them, or strip the equity from people’s houses." Let's look beyond the subprime issue and forget it even happened until I'm done making my point. If these people are that naive or shall I be nice and say, 'completely stupid' to let some stranger finagle their home from under them or strip away their equity, I say this. Thank god and their future they are losing their home. It's clear these ignorants should never have experienced the 'great american dream' in the first place. They need to keep their 'great american rental dream' alive instead. Reading the last point, ‘The Foreclosure Rescue Fraud Act’, I can’t ignore this sentence, “While some of these consultants are legitimate professionals, others are con-artists taking advantage of distressed homeowners. The fraudulent consultants take money from homeowners without providing any actual service, manipulate homeowners into transferring their property deeds to them, or strip the equity from people’s houses.”

Let’s look beyond the subprime issue and forget it even happened until I’m done making my point.

If these people are that naive or shall I be nice and say, ‘completely stupid’ to let some stranger finagle their home from under them or strip away their equity, I say this. Thank god and their future they are losing their home. It’s clear these ignorants should never have experienced the ‘great american dream’ in the first place. They need to keep their ‘great american rental dream’ alive instead.

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