Firstly, let us assure you we are not here to sell you anything or recommend anyones services. This site is designed to arm you with information to help you get out of this terrible situation that you are in. With the current economic situation being the worst since records began there are billions of people throughout the world who are suffering like never before.
Financial con artists have always targeted people like yourselves (it’s not just restricted to low-income earners as many professionals are now struggling and on the brink of losing their houses or consumed by credit card debt). However, the current frightening situation of targeted and predatory mortgage lending and “foreclosure prevention” consolidation loans is so common and profitable to those organisations that operate them that it has become a global scandal and shaken the global economy as a whole.
Amongst the housing scams are lenders taking advantage of low-income peoples situations by offering you bad credit mortgages on your homes based on their equity (but not your ability to pay). These loans don’t last long because once the inevitable happens and you struggle to pay your mortgage they rush in and repossess your property with no remorse. Other crooks, offering “foreclosure rescue” are stealing homeowners’ deeds and equity.
In addition to predatory lending, people the world over are victims to a host of other consumer frauds such as payday loans, hidden credit card charges, promises to rid your credit file of negative information, high-fee unqualified “debt busters”, false promises of training and jobs by bogus trade schools, scamming franchise deals, and illegal debt consolidation practices.
Even legitimate mortgage loan documents are “mind-bogglingly complex,” the New York Times reports, with “nine out of 10 borrowers unable to specify upfront fees or the exact amount of their mortgage loans.” There are scam artists out there that can locate you through monitoring when your lender files a foreclosure notice with the public trustee or by going through the newspaper ads for foreclosure listings. These scam artists trawl through public notices of impending foreclosures and go door-to-door in disadvantaged communities, offering their own lawyers to help debtors deal with the paperwork. The unfortunate homeowners later find out that this paperwork has actually turned their deeds over to those supposed saviours, who then release equity from the property and move to evict their victims. As there is no licensing or regulation of these scam “consultants” anyone can operate as one and claim to be a foreclosure professional.
The success of these fraudulent schemes is dependent upon the lenders/scammers ability to isolate their victims from honest, independent professional advice. It is only with the aid of honest professional legal advice that those suffering can claw their way out of their unfortunate situations. Those that want to take things into their own hands or are untrusting of others should utilise the best researching tool around – the internet. With loads of discussion boards, blogs (you’re on a great one at the moment!), review sites and forums you can get advice from people in the same boat. It is also worth contacting the many debt advisory centre that have dedicated debt helpline manned by qualified debt advisers. They deal with hundreds of people daily in the same situation as you so would be well placed to give you debts advice. For those with businesses that they are struggling to keep afloat there are also many business debt advice sites.
We aim to update this site on a daily basis with help and advice to help you get the weight off your shoulders and to start reliving your life so please keep coming back.