Mortgage Foreclosure Rescue Scams - Documentary Video

We Stop Foreclosure Rescue Scams (2008) by Kyra Olds

This is a documentary about mortgage foreclosure rescue scams that are occurring across the country in light of the growing foreclosures. The movie describes common scam tactics and how distressed homeowners fall for these scams. The movie concludes with what lawyers can do to challenge these scams in court and the Washington State Legislature’s response to try to to stop these scams by passing House Bill 2791 and Senate Bill 6381. It is intended to educate advocates so they can better assist homeowners facing foreclosure.

Director: Kyra Olds
Producer: Northwest Justice Project
Sponsor: Eric Dunn
Keywords: foreclosure rescue scam; washington; mortgage; foreclosure; 2791; northwest justice project; njp
Contact Information: Northwest Justice Project 401 2nd Ave S Seattle, WA 98104 www.nwjustice.org

Creative Commons license: Attribution-Noncommercial-Share Alike 3.0 United States

Credits:
We Stop Foreclosure Rescue Scams
by Northwest Justice Project;

Featuring:
Eva, Client of NJP; Eric Dunn, Attorney at NJP; Melissa Huelsman, Private; Attorney in Seattle; Judy Poston, Housing Counselor at Solid Ground; Julia Kellison, Attorney at NJPl; Fred Corbit, Attorney at NJP

Produced by: Kyra Olds, Intern at NJP

Foreclosures are increasing nationwide, and so are scams that promise to rescue homeowners from foreclosure. What these scams do is take your money, ruin your credit record, and wipe out any equity you have in your home. Foreclosure con artists take advantage of people who have fallen behind on their mortgages and face foreclosure. Con artists know that people in these situations are vulnerable and likely to be desperate. Potential victims are easy to find: mortgage lenders publish notices before foreclosing on homes. After reading such notices, con artists approach their targets in person, by mail, over the telephone, or by e-mail. They advertise their services on Web sites or publications. They often refer to themselves with titles that sound official, such as foreclosure consultant or mortgage consultant, and market themselves as a foreclosure service or foreclosure rescue agency. Your mortgage lender or any legitimate financial counselor can help you find real options to avoid foreclosure. If someone offers to negotiate with your lender and offers to arrange to stop or delay foreclosure for a fee, carefully check his or her credentials, reputation, and experience. To protect yourself, follow the recommendations contained in this Consumer Advisory.

Duration : 1:34:41

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This video is from the show Open House on CNN. Homeowners in trouble facing short sale or foreclosure should be careful when answering to unsolicited mail, phone calls or emails. A HUD representative and a legal services representatives explain what homeowners should watch out for and what to do.

More info at:

http://sccrealestateuncensored.com/2007/foreclosure-scam/

http://micasamidinero.com/2007/foreclosure-fraude/

Duration : 0:4:51

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This is a video about the fastest way to save your home!

Duration : 0:2:12

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http://loanmodificationhelp.blogspot.com
A “loan modification” or “mortgage modification” is when the lender modifies your current mortgage in order to work with you because of a hardship. The purpose of a loan modification is to help make your mortgage loan payment more affordable. New law senate bill 1137 makes your lender workout a loan modification with you. Does your lender always have your best interest? Research shows loan modifications fail most of the time. An attorney can help with a much more favorable outcome for you because of experience and attorney power.

http://loanmodificationhelp.blogspot.com/2008/08/do-i-need-loan-modification-attorney.html

http://loanmodificationapproved.blogspot.com/2008/09/coakley-to-report-to-congress-on-loan.html

You might want to get a Free loan modification help and strategy Ebook to help you through the process.

http://loanmodificationhelp.blogspot.com/2008/08/do-loan-modification-companies-work.html

“loan modification”
[loan modification]
{loan modification}
(loan modification)

Usually it is in the form of a rate reduction, principle reduction and/or a fixing of the rate for a certain amount of time. In the past, this was only used when a borrower was delinquent and suffered a hardship such as a job loss, divorce, illness etc.

Loan Modification help is a great solution for a borrower who wants to stay in their property, but can’t afford the payment to adjust upward, or can’t quite afford the current mortgage payment. In that situation, a mortgage pay rate reduction is an ideal solution because it will lower the monthly mortgage payment to a manageable amount.

Loan Modification is also a solution when the payment has not been made for a while, but the borrower can now afford to start making payments again.

The type of Loan Modification that is most beneficial for a borrower behind on mortgage payments is called a “recapitalization agreement.”

A Recapitalization agreement takes all the arrears, interest, fees, and accumulated payments and adds it to the principal of the mortgage loan. The result of this negotiation is a slightly larger principal loan amount, but a status of “current” on the mortgage loan payments going forward.
Our Blog goes over most of the following topics to help homeowners with questions.

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http://loanmodificationhelp.blogspot.com/

http://loanmodificationhelp.blogspot.com/2008/08/do-loan-modification-companies-work.html

http://loanmodificationhelp.blogspot.com/2008/08/loan-modification-help-questions-and.html

A Loan Modification will change your existing mortgage loan and give you a fresh new start in managing your home. Your account will be brought up to date immediately.

http://www.hud.gov/homes/index.cfm

http://info.sen.ca.gov/pub/07-08/bill/sen/sb_1101-1150/sb_1137_cfa_20080326_113641_sen_comm.html

http://info.sen.ca.gov/pub/07-08/bill/sen/sb_1101-1150/sb_1137_bill_20080409_amended_sen_v96.pdf

http://www.fdic.gov/consumers/loans/modification/indymac.html

http://www.federalreserve.gov/newsevents/press/bcreg/20080303a.htm

http://www.usatoday.com/money/economy/housing/2007-12-02-subprime_N.htm

http://www.mortgagenewsdaily.com/342008_Loan_Modification_and_Workouts.asp

Duration : 0:4:45

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http://www.bruceoliver.com,mortgage advice,online mortgage advice,free financial help,how to stop foreclosure,how to stop foreclosure,refinance to stop foreclosure,bill consolidation loan mortgage second

Duration : 0:1:3

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How to Stop Foreclosure

Duration : 0:2:17

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How to beat foreclosure and save your financial health
www.stopnotknowing.com

Duration : 0:5:24

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