Beware of the famous GUARANTEE! Here is a group in the news for making false statements to homeowners in foreclosure. According to the FTC they were advertising, “We have all the funds available to pay your bills and save your home from foreclosure. GUARANTEED!” The Federal Trade Commission is charging these companies for violating the Home Ownership and Equity Protection Act (HOEPA), the FTC Act, and the Truth in Lending Act (TILA) by extending credit based on the value of consumers’ collateral without regard to their repayment ability, grossly understating the annual percent rate (APR) and finance charges, and failing to make timely written disclosures and by failing to disclose accurately the amount being financed, the finance charge, the annual percentage rate, the payment schedule, the total payment amount, and the fact that the creditor has or will acquire a security interest in the consumer’s home.

BOTTOM LINE: If you're a homeowner, seek legal counsel before making agreements dealing with your home. If you're a business, BE HONEST for crying aloud!!