Beware of Foreclosure "Saviors"
blackenterprise.com
Thanks to Patric Dublin for this blog entry!
By Monica Hatcher, The Miami Herald
Jul. 5--Sherry Miller said she signed the foreclosure assistance agreement blindly, page after page, desperately believing it was the only way to stop the sale of her home on the courthouse steps the next morning.
No sooner had she put the pen down than she was told that her Doral home would be listed for sale anyway, Miller claims. Among the flurry of pages she had signed: a deed to her home.
"It's the most horrible feeling you can imagine," Miller, 60, said about realizing she had signed her home away. "It's like somebody telling you they're going to cut both your legs off."
As rising interest rates, high energy costs and skyrocketing insurance premiums put more homeowners in danger of falling behind on their mortgages, a new crop of investors -- drawn to South Florida by soaring real estate values -- is looking to capitalize on their hard luck. As a result, consumer advocates have seen a spike in the number of homeowners losing their homes in so-called foreclosure rescue schemes.
Thanks to Patric Dublin for this blog entry!
By Monica Hatcher, The Miami Herald
Jul. 5--Sherry Miller said she signed the foreclosure assistance agreement blindly, page after page, desperately believing it was the only way to stop the sale of her home on the courthouse steps the next morning.
No sooner had she put the pen down than she was told that her Doral home would be listed for sale anyway, Miller claims. Among the flurry of pages she had signed: a deed to her home.
"It's the most horrible feeling you can imagine," Miller, 60, said about realizing she had signed her home away. "It's like somebody telling you they're going to cut both your legs off."
As rising interest rates, high energy costs and skyrocketing insurance premiums put more homeowners in danger of falling behind on their mortgages, a new crop of investors -- drawn to South Florida by soaring real estate values -- is looking to capitalize on their hard luck. As a result, consumer advocates have seen a spike in the number of homeowners losing their homes in so-called foreclosure rescue schemes.
posted by Greg L at
11:31 PM
1 Comments:
I trotted over to Ralphs, got the paper and a muffin and took up my position as first in line.
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