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Health & Fitness

"Scammer Got These Folks for $3,500"

 Jose and Kelly have been in and out of foreclosure and loan modification attempts for the last 6 years. They owe more than their home is worth. They have an 8.25% interest rate on their loan, have gotten behind 3 different times and each time, the servicer modified the loan and added their arrearage to the end of the loan.

They started out with a $200,000 loan amount, now after back payments, late charges and attorney fees, they owe $240,000. They told me that the value is under $200,000, but to them they will do everything humanly possible to continue owning their home, even though it is worth much less. Their debt and their mortgage payment is $2,230 per month. Their income is $45,000 per year. The math just doesn’t work.

A person contacted them saying he could get their loan modified to a 4% rate and the fee to get this done is $3,500. They paid the money and missed two months of mortgage payments to put the fee together.That was 6 months ago and after many calls and empty promises, they finally figured out, they were scammed. There are crooks that prey on folks like Jose and Kelly all the time.

I believe in Karma, nothing good will happen to crooks like this, that take advantage of other human beings. They didn’t like what I had to say. They should not be in this home, they just don’t make enough income for the amount of debt, but they will continue to fight to keep fighting this uphill battle. When I hear these stories, it breaks my heart.

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