Monday, March 2, 2009

Foreclosed get scammed

From the Daily News:

Homeowners desperately trying to keep their houses have a new scam to worry about: unscrupulous "foreclosure consultants."

Blossom and Francis Joseph of the Bronx say they're victims of one.

When Blossom lost her job and the couple fell behind on their mortgage, she saw a TV ad for a "foreclosure consultant" promising to lower their monthly payments.

She called the American Modification Agency of Long Island and paid them $3,190. American Modification then did nothing, they say, and the couple wound up in foreclosure anyway.

9 comments:

Anonymous said...

How stupid. I get calls ever day from services wanting to reduce my credit card or mortgage payments.

So easy to see its a scam.

Maspethian said...

So now we bail out those in foreclosure who were scammed by those who promised to rescue them from foreclosure. And on and on... But America now has this obsession to keep people in homes they have no equity in. When will we see the bailout of Madoff investors?

Anonymous said...

should have spent the $3K on the mortgage instead

Anonymous said...

I see these loan modification commercials on Fox New, Cnn etc, in which these very commercials were produced to blend in as if they were breaking news that the government is sponoring this service as a government program. This type commercial preys on what folks for the most part can do themselfs. This commercials should be banned as they leech on those whom are desperate - there should be very verbal and written disclaimers as to what they represent and provide(Not the government surely) and what they will be charging for it versus it's worth.

Anonymous said...

Like too good to be true mortgage deals, these scams have been around forever. Most people sign away the deeds to their homes without even realizing it, when they are promised that their mortgage payments will be made. They then become renters in their own homes and are evicted when they fail to pay the rent that they now owe to the rescuer/owner.

As for madoff's investors, many of them will be getting some, if not all, of their money back.

The real question is why is he not in jail awaiting trial - he has ruined so many lives and is no better than a hood who murders on the street. House arrest in a multimillion dollar penthouse is not the same as being in jail.

Anonymous said...

If you're that stupid, you shouldn't be allowed to own a house.

Anonymous said...

Start putting people in the poky. Since when have the con men got our permission to rob?

loan modification said...

this is so unfair. someone should take a look on this one and investigate.

Anonymous said...

I, too, have seen thoseloan modification commercials, and I agree--this afternoon on NY1! I called and complained and wrote and complained. This is shameful. They are predators, and NY1 is in cahoots. SHAME on you, Time Warner, shame on you NY1. Dominic Carter, please talk to these money hungry (m)admen who sign on these commercials. The company is called TMU.