Free Foreclosure Ebook
Free Foreclosure Ebook
The New Foreclosure Opportunity Free Foreclosure ebook training
It's the fantasy of every homeowner: his own home free and clear. There are many legitimate ways to pay your mortgage faster, but here is the latest scam for people hoping to eliminate its entire 30-year mortgage – in less than a year.
Here's how. A "removal mortgage "the company posts ads in magazines, Internet sites, newspapers, or anywhere else you can find the victims, with the promise of that their system is legal and effective.
One of the strangest arguments, though convincing potential victims, is that lenders really do not pay money. Although it is a convoluted argument, the conclusion is that lenders borrow money from other lenders, and loan when the chain is followed all the way to its source, which happens to be the federal government to print money on ink and paper, which means that money has no real value. Because that's the case, the victim was actually generated money first. If the victim buys the argument, it means that your mortgage note makes no sense and no money actually owed.
Conspiracy enthusiasts love that kind of conversation, especially if backed by evidence that agencies like the FBI does not want to know about the process Loan truth because they fear that when the American public finds out, the banking sector will no longer be able to fool innocent buyers than they earned cash.
The next step is for the owner to send a check for several thousand dollars in the mortgage eliminator promise to guide you through the process and to represent them in court if necessary. After that, one of two things will happen. Some mortgage eliminators will simply disappear, and the victim never hear of them again. Others really offer a program, which will inevitably lead to loss of the home owner through foreclosure.
Here is how the second option. Mortgage Eliminator tells the homeowner to go to the county clerk's office and file a form discharge of debt, indicating that the mortgage is paid in full. That's not the case, of course, but the clerk how it looks as if ownership of the property free and clear. Then comes the part where the scammers really clean. With the seemingly free and clear property, the homeowner can now apply more loans, and profits are then split, with the elimination of the mortgage usually get the biggest portion. Everything seems fine – until the county clerk and the original creditor to discover the fraud and to meet homeowners, soon caught in a huge financial and legal dilemma, as well as facing a possible fraud and conspiracy charges and jail time.
The saddest part of this scam is that the most vulnerable are those already facing bankruptcy and foreclosure. All dreams of owning your home free and clear – but when it comes to paying your mortgage, remember the old adage: if it looks good to be true, it probably is.
Copyright © 2006 Jeanette J. Fisher
Related posts: