Comments on: Freddie Mac, Mortgage Fraud, and “Foreclosure Help” http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/ An insiders look at Charlotte Homes for Sale, Charlotte NC Real Estate and communities. Mon, 1 Dec 2008 19:19:46 +0000 http://wordpress.org/?v=2.3 By: Bob Hundenwriter http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-1452 Bob Hundenwriter Thu, 17 Jul 2008 13:12:34 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-1452 Freddie Mac and Fannie Mac just got some assistance from the federal government. While there was concern for a day or two it looks like things will be alright with banks still borrowing (at higher than expected rates) from the two financial giants. Freddie Mac and Fannie Mac just got some assistance from the federal government. While there was concern for a day or two it looks like things will be alright with banks still borrowing (at higher than expected rates) from the two financial giants.

]]> By: Nick http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-489 Nick Sat, 19 Jan 2008 01:51:21 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-489 Good advice, and great video. A guy in Michigan was doing this exact same scam about 4-5 years ago, and was sent to jail for it. However, even after all that, and it being shown on TV stations and everything, he's out of jail now and still at it! Just a few months ago I heard from a client who was taken in by the scam. And it's exactly as described in the video: show up with a bunch of innocuous documents, slip a quitclaim deed into the pile, and have the homeowners sign it anyway. Another one of his scams would be to offer to buy homes with a lot of equity, show the homeowners decent terms and moderate closing costs, then show up at the closing with the title company with entirely different documents with enormous fees. The foreclosure victims were basically told to take it or leave it, and they'd be out of a deal if they didn't go through with it. Obviously, the same scams are being committed against the same classes of homeowners now as in the past: those with a lot of equity, and those who do not know any better. It's too bad, but the lack of financial education in this country is simply enormous. Good advice, and great video.

A guy in Michigan was doing this exact same scam about 4-5 years ago, and was sent to jail for it. However, even after all that, and it being shown on TV stations and everything, he’s out of jail now and still at it! Just a few months ago I heard from a client who was taken in by the scam.

And it’s exactly as described in the video: show up with a bunch of innocuous documents, slip a quitclaim deed into the pile, and have the homeowners sign it anyway.

Another one of his scams would be to offer to buy homes with a lot of equity, show the homeowners decent terms and moderate closing costs, then show up at the closing with the title company with entirely different documents with enormous fees. The foreclosure victims were basically told to take it or leave it, and they’d be out of a deal if they didn’t go through with it.

Obviously, the same scams are being committed against the same classes of homeowners now as in the past: those with a lot of equity, and those who do not know any better. It’s too bad, but the lack of financial education in this country is simply enormous.

]]> By: Sandi Bauman http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-250 Sandi Bauman Wed, 19 Dec 2007 17:44:24 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-250 Critical information for Charlotte NC homeowners facing foreclosure. Critical information for Charlotte NC homeowners facing foreclosure.

]]> By: Karl Burger http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-238 Karl Burger Mon, 17 Dec 2007 04:07:55 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-238 Thanks for this post Terry. People in trouble need to know where to look for help. Let's hope that people facing foreclosure in the Charlotte real estate market find your post and get help from an experienced Charlotte real estate agent, and don't get sucked in by the low life scammers. Taking advantage of people in trouble is something I just can't understand. Let the law of karma take care of the scum who take advantage of Charlotte home owners in trouble. Thanks for this post Terry. People in trouble need to know where to look for help. Let’s hope that people facing foreclosure in the Charlotte real estate market find your post and get help from an experienced Charlotte real estate agent, and don’t get sucked in by the low life scammers. Taking advantage of people in trouble is something I just can’t understand. Let the law of karma take care of the scum who take advantage of Charlotte home owners in trouble.

]]> By: Your Foreclosure . Info » Freddie Mac, Mortgage Fraud, and “Foreclosure Help” http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-233 Your Foreclosure . Info » Freddie Mac, Mortgage Fraud, and “Foreclosure Help” Sun, 16 Dec 2007 17:52:49 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-233 [...] Moe wrote an interesting post today onHere’s a quick excerptRemember, if you are already in trouble, and facing foreclosure, TALK TO YOUR LENDER.Now how do you know if you qualify, or don’t qualify for help under the plan released by the President last week? Here is an outline from a blogging … [...] […] Moe wrote an interesting post today onHere’s a quick excerptRemember, if you are already in trouble, and facing foreclosure, TALK TO YOUR LENDER.Now how do you know if you qualify, or don’t qualify for help under the plan released by the President last week? Here is an outline from a blogging … […]

]]> By: MP3 Download Music http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-231 MP3 Download Music Sun, 16 Dec 2007 16:44:45 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-231 [...] advertolog wrote an interesting post today onHere’s a quick excerptWho have already refinanced their homes. Who are more than than 60 days delinquent on more than one payment in the past year. Who have high FICO scores (above 660, it appears). Who have prime adjustable rate loans. … [...] […] advertolog wrote an interesting post today onHere’s a quick excerptWho have already refinanced their homes. Who are more than than 60 days delinquent on more than one payment in the past year. Who have high FICO scores (above 660, it appears). Who have prime adjustable rate loans. … […]

]]> By: Freddie Mac, Mortgage Fraud, and “Foreclosure Help” | Foreclosures http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-230 Freddie Mac, Mortgage Fraud, and “Foreclosure Help” | Foreclosures Sun, 16 Dec 2007 16:43:21 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-230 [...] clara_alfanet brought to you using rss feeds. Valuable information for anyone looking into home and real estate foreclosures.Here’s a brief portion of the articleRemember, if you are already in trouble, and facing foreclosure, TALK TO YOUR LENDER.Now how do you know if you qualify, or don’t qualify for help under the plan released by the President last week? Here is an outline from a blogging … [...] […] clara_alfanet brought to you using rss feeds. Valuable information for anyone looking into home and real estate foreclosures.Here’s a brief portion of the articleRemember, if you are already in trouble, and facing foreclosure, TALK TO YOUR LENDER.Now how do you know if you qualify, or don’t qualify for help under the plan released by the President last week? Here is an outline from a blogging … […]

]]> By: Sandi Bauman http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-226 Sandi Bauman Sat, 15 Dec 2007 18:32:09 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-226 Excellent information for Charlotte homeowners on foreclosures... very timely, I might add! You are an excellent resource, Terry for buyers/sellers in the Charlotte area. Excellent information for Charlotte homeowners on foreclosures… very timely, I might add! You are an excellent resource, Terry for buyers/sellers in the Charlotte area.

]]> By: Paula Henry http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-221 Paula Henry Fri, 14 Dec 2007 18:32:16 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-221 Terry - A timely post for homeowners in Charlotte who may be wondering if they qualify for the new rate freeze. -Paula Terry - A timely post for homeowners in Charlotte who may be wondering if they qualify for the new rate freeze. -Paula

]]> By: Mary De Luca http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-220 Mary De Luca Fri, 14 Dec 2007 18:25:18 +0000 http://www.charlottecommunitiesonline.com/2007/12/14/freddie-mac-mortgage-fraud-and-foreclosure-help/#comment-220 Great post Terry. I feel for people in these situations. Great post Terry. I feel for people in these situations.

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