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scams: Repost: How can we make sure this never happens again? - 11/17/08 05:29 PM
One thing I have picked up on the Zillow discussion boards is that there is a huge amount of resentment towards consumers who bought into the frenzied 'must act now! prices are skyrocketing, don't get left behind!' marketing ploys. Some of that anger is not misplaced- after all, without the all-too-willing consumer, we would not be in the pickle we are in!
I met people along my winding road in the business who absolutely, positively were abusing the privilege of owning a home. People cashed-out their equity once a year to 'consolidate' their debt. From 2002 to 2005, people refinanced as … (6 comments)
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scams: The New Breed of Scam Artists - 10/30/08 11:15 AM
Originally published on Mortgages Unzipped http://www.zillow.com/blog/mortgage/author/jennifermonastero/
With the current economic conditions, it’s no wonder we have seen an increase in many types of scams and ‘too good to be true’ offers. Unfortunately, we live in a world where sociopathic behavior is fairly commonplace, and even rewarded! For some strange reason, tough economic times brings out the worst in some people. Today brings a new breed of scammers to the forefront, and this is a group of people that will be growing in numbers for many weeks and months to come. I speak of “Mortgage Modification Experts”, or whatever fancy term … (2 comments)
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scams: You owe me $3500... Pay up. - 05/23/08 01:26 PM
So, again, someone is TRYING to pick a fight about whether or not 'Mortgage Accelerator' programs are worth a penny, let alone $3500. I just wish that people would get off of the 'well, they make it sound so complicated- I must NEED the software' track and take a step back and THINK about what the whole concept is based on- ADDING MONEY TO YOUR MORTGAGE PAYMENTS!
This is what I wrote in response to this particular character, and I am re-posting so this topic gets more attention.
Let's see here....
$118,000 30 year fixed at 6%= 707/month.
Let's … (54 comments)
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scams: Mortgage Accelerator Scams - 05/08/08 09:05 AM
So, these have been popping up ALL OVER. People are trying to recruit real estate agents, mortgage brokers and even Bingo Ball cleaners to sell a software program that can 'help' people pay off their mortgages in record time.
This is my take:
If someone were to take every ounce of their paycheck, after taxes and basic expenses, and put it towards their mortgage- they would pay their mortgage off FAST. In fact, I would guess that they would pay it off just as fast as they would if they used this stupid program. Think about it though- instead of having ANY leverage … (12 comments)
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Jennifer Monastero
Danbury,
CT
More about me…
Polaris Funding Group
Cell Phone: (917) 340-9113
Email Me
Whatever I think about, I write about. Sometimes, it even makes sense!
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