Upside Down Mortgage

Posts Tagged ‘reference’

National Mortgage Help Center Scam

Question: National Mortgage Help Center Commercial Legitimate?

Anyone know if this company is legitimate or not?
We have seen their commercial and our mortgage company will not help us, do you think they can or is it a scam?

http://www.nmhcenter.org/

Answer: If they want you to pay an up front fee, run for the hills!!!!

DONT BE A VICTIM OF MCCAINS VOTE MACHINE FRAUD-CONFIRM VOTE

Government Mortgage Help First Time Buyers

Question: Discuss why the government is likely to be concerned about the difficulties for some housebuyers.?

its an AS past exam question on housing . am i supposed to talk about first time buyers, Public sector housing ,Subsidising mortgages.
it would be great if someone could tell me what i have to talk about.

Answer: I don't know what you have been taught, so I'm speaking from outside knowledge and personal opinion - I don't know if it is one of those things you are supposed include what the teacher has told you but...

when people are spread to thin - house poor - they risk, obviously losing their house, but when people are unable to spend money they are unable to put money into the economy and therefore the entire ecomony slows, which then means people losing jobs because businesses are suffering - if people lose jobs, more people are unable to pay their mortgages and therefore the cycle continues - this will eventually cause a recession - the more people who lose their jobs, the more houses that will be forclosed on - which means where do those people now live? it can begin an entire cycle of poverty for families and when children are raised in poverty they tend to do worse in school - there even if they economy has improved they are less qualified for good jobs and remain poor and often in low-income public housing... The government should be concerned because as as a result of people losing their homes the economy weakens and if the cycle lasts too long or deepens far enough they will not have a prosperous country - which limits tourism - who wants to go visit poor countries? Lower tourism again ads to less money going into the economy.

Of course you could also, should you be anti-war - discuss how the government spending billions of dollars on a war - is billions that is not being spend to help Americans dig out of this hole...

As for first time buyers or investors with the money to buy - recession can be a good thing - housing prices drop, and since the first time buyer doesn't have to worry about selling their current home they are able to get lower prices (because of the weakening seller) - this is the position I am in right now - we figure within the next year year and a half we will be able to buy a home because we currently don't own one and the prices will be lower because people will want or need out of their current homes for financial reasons.

Sorry I am figuring you are American - and all my babble really applies to the state of American economy (although it could happen anywhere, really - but alot of other countries have more socialized programs already in place that can assist people more) - I'm in Canada, Toronto to be exact and right now we are still experiencing the opposite - houses are going into bidding wars and are selling for far more than they should - the house I live in two years ago would have sold for about 250K - the house right next door built same time period, same size (our houses are war houses and the street really has two different floor plans) and right now they are asking 400K for it...

You could also look at what other western governments offer in terms of assistance and public housing in comparision to where you live... I have said this before I have been in Detriot, Boston, Buffalo, Flint, Dallas and what exists there as slums, housing projects and the like is nothing like the ones here in Toronto - I'm not a tough girl, I'm regular old middle class wasp and have walked through regent park at mid-night - in Boston a police officer told me not to even think of getting out of my car in one neighbourhood.

First Time Home Buyer Program, $8000 Tax Credit, Buy Foreclosures Cheap with FHA Mortgage

Mortgage Fraud Complaint

Question: Mortgage Co. employee released Personal Information to third parties-is there any legal action we can take?

An employee, since fired, sold personal information-name, address, soc number, loan numbers, etc.. to a third party. The mortgage co. did give us 4 steps to take—-call nationwide credit bureaus and be listed on the fraud alert, file police report, close accounts that have been tampered, file complaint with the Federal Trade Commission. Anything Else. My husband has very poor credit and was going to file bankruptcy; could a debt collector have paid off a mortgage co. employee for information? Is there any legal action we can take.

Answer: Companies sell accounts to debt collectors all the time. Therefore, there is nothing illegal about that. It is a common thing for a company who is not getting paid to sell the account to a debt company for a certain percentage. Is your husband not making payment on the mortgage? If so, then, more than likely, the account was sold.

Quicken Loans Complaints, Rip-Off Loan Scam and Fraud Accusations Explained

Home Mortgage Help Center

Question: can my wife go to court and get her name added to the deed of our home?

i want a divorce and my wife is trying to trap me in the marriage by making it impossible for me to leave. one of the ways this stupid womens’ center advised her to do this is by going to court and getting her name put on the deed. her name IS NOT on the mortgage note, but she does not want me to be able to sell the home.

Answer: If the house belongs to you both then it sounds like community property, no matter whose name is on the deed.
You can still get a divorce, but you will have to split your property and debt fairly and legally.

Mortgage Solutions, Mortgage Help Center, Mortgage Resource Library, Mortgage Pre-Qualification

Mortgage Fraud Database

It seems you’ll be hard pressed to sit through the evening news without a story about the nation’s mortgage crisis. You’ll hear blame towards the lenders, the borrowers and the government. Looming behind crisis in the mortgage industry is the risk of an increased amount of homeowners filing for bankruptcy.

It is expected that obtaining a mortgage is going to be more difficult as the credit markets tighten. Should the supply of money tighten up companies will want to person additional layers of due diligence when reviewing new loan applicants.

For companies looking to mitigate fraud risk, below is a list of actions they can take among different parties.

- Property Brokers: Be cautious if a property broker insists a buyer uses a specific lender exclusively.

- Maintain Records: Ensure you receive copies and appropriately file and archive all copies of signed documents.

- Appraisers: Hire third-party appraisers.

- Referrals and References: Request referrals and verify references of real estate professionals that have an established record.

- Document Signatures: Never sign documents with incomplete information.

- Professional Service Reports: Research and leverage professional services that report on mortgage fraud as a collaboration with the federal government.

Bankruptcy Records:
Did you know bankruptcy records are public records? Bankruptcy records, along with other liens and judgments are part of the research process of due diligence. Professional organizations are making it easier for a person to research the credit history, from a bankruptcy prospective, of persons and organizations they are conducting business with

ID Verification Services:
Is your loan applicant really who he or she claims to be? How do you know? Have you confirmed the applicant’s identity? Is there a chance he or she is looking to commit a fraud and misrepresent their identity to obtain a loan? Fortunately id authentication services exist that can help provide a series of verifications against a person’s ID including:

- The ZIP Code matches the state.

- The last name matches the address.

- The Social Security number matches the first and last name.

- The Social Security number issue date is within a valid date range.

- The Social Security number is not listed as deceased.

- The Social Security number exists.

- The subject meets your age requirement.

ID’s issued by state government’s have become more tamper-resistant within the last decade. Many states have implemented advanced security features. At the same time many would-be thieves and criminals have also tried to keep pace and are constantly seeking methods to stay ahead. As a means of providing due diligence you may want to consider running a verification against a person’s ID to ensure you know the identity of the person you are working with.

The state of the economy is of great concern to many in America . It can speculated that companies will have an increased interest in researching the organizations and persons they are conducting business with. Remember when conducting due diligence, leverage the available professional services available that can help you collect public records information. By referring to national databases and public records services you are helping your organization mitigate the risk of a potential fraud.

About the Author:

Michelle Thiel is an advocate for the information industry with an interest mitigating loan fraud. She also authors information about obtaining customer identification and bankruptcy public records.

Article Source: ArticlesBase.com – Obtaining Bankruptcy Records to Mitigate Mortgage Fraud Risk