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

By Steve Rhode
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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.

@GetOutOfDebtGuy

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

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Tags: debt barter, federal loan modification law center, fedmod, foreclosure rescue, mortgage modification, mortgage-broker, subprime mortgage