The reputations of many ethical, hard working Mortgage Brokers, Realtors®, Appraisers, Title Companies and others have been tarnished as a result of the actions of an unscrupulous few over the last 5 years. It's guilt by association. Are we about to experience deja vu all over again?
The other night I was working late at the office and one of our secondary phone lines rang. Odd, but I picked up the phone anyway and started to answer. A recording kicked in and I am surprised not surprised at what I heard.
The voice, in an official government sort of tone, informed me that the Emergency Economic Stabilization Act mandated, yes mandated, that every homeowner had the right to negotiate with their lender to lower their monthly mortgage payments. Huh??? I guess I missed that part.
The message continued for about a minute urging me to act now because time's running out. It did not tell me who took such a personal interest in my situation. At the end I was offered a choice to press 1 for more information or press 2 to be removed from the call list.
How about press 3 to whack you upside the head a few dozen times?!?! Show some professionalism and tell me who you are and what you really do? And while you're at it, find a new business model that doesn't rely on deception, misinformation and unfulfilled promises!
Why bait me and not tell me who you are? Why fish for leads through an automatic telemarketing scheme. I'd be surprised if this isn't a foreclosure counseling scam. Brought to you by the same people who contributed in part to the mess we're in now. Ironic.
There are legitimate financial counseling firmsto help people in need. They're in the phone book. You're minister probably knows one or two; so does your lawyer and accountant. Talk with a realtor®. Check with a local loan officer. Check on line here: http://activerain.com/. Honest and trustworthy help is available.
During the last 18 months, many engaged in the predatory lending gig left the business. Are they finding their way back? The number of desperate prospects is at an all time high.
JB note: re-posted this w/changes 10/18.
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