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Foreclosure Rescue and Mortgage Modification Help Just Bad Actors in New Clothes

The New York Times has a great article out about the transformation of subprime mortgage brokers into new entities that promise to sell help for people to get mortgage help.

Late last year, he and his team — ensconced in the same office where they used to broker mortgages — began working for a loan modification company. For fees reaching $3,495, with most of the money collected upfront, they promised to negotiate with lenders to lower payments on the now-delinquent mortgages they and their counterparts had sprinkled liberally across Southern California.

Read the full article here.

Foreclosure Rescue and Mortgage Modification Help Just Bad Actors in New Clothes
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Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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