Re: Foreclosure Bailout Loan Guidelines

Posted by Steele in Minnesota on August 03, 2005 at 12:33:02:

In Reply to: Re: Foreclosure Bailout Loan Guidelines posted by Linda on August 02, 2005 at 23:13:20:

: We were warned about you and your BailOut Loan! People will lose their homes for sure with that kind of deal. Don't take advantage of people who are already in trouble and will try anything they can to save their homes!
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Actually we haven't had any facts with regards to this program and it being a bad one. It is true that there are alot of scams out there. I was the one that originally posted the report done by the National Consumer Law Center.

This program does not fit the typical scam of this type. It does appear to have several "safety" features for the consumer that are just not there with the scam artists. The typical scam usually has terms so horrendous that the former owner can never redeem. This one seems pretty straight forward.

One thing we have to careful about here is that while there are scams and one needs to be careful there are legitimate programs out there. As always check out the program and do your homework. Many of these con artists are posted on various consumer websites and with the State Attorney General office. And the Better Business Bureau for that matter. Check them out. Also, if no one has ever heard of them then I would pass.

To think that all investors or various programs are bad because of some bad ones is similar to using stereotypes. Don't typecast the group based on the bad apples. Instead use common sense.

As a foreclosure specialist working with a number of the banks doing foreclosures I can say from experience that this fear is hurting homeowners as much as helping. People who may have worked out alternatives are so fearful, that they simply lose the house rather than checking things out that may have hurt them. They do nothing until it is too late.

Being careful is different than being paranoid.

Just my opinion.

Oh, and I am not associated with any of these programs.

Steele V. Propp
Foreclosure Specialist
Minneapolis, Mn

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Comments:
: : We were warned about you and your BailOut Loan! People will lose their homes for sure with that kind of deal. Don't take advantage of people who are already in trouble and will try anything they can to save their homes!
: **************************

: Actually we haven't had any facts with regards to this program and it being a bad one.  It is true that there are alot of scams out there.  I was the one that originally posted the report done by the National Consumer Law Center.

: This program does not fit the typical scam of this type.  It does appear to have several "safety" features for the consumer that are just not there with the scam artists.  The typical scam usually has terms so horrendous that the former owner can never redeem.  This one seems pretty straight forward.  

: One thing we have to careful about here is that while there are scams and one needs to be careful there are legitimate programs out there.  As always check out the program and do your homework.  Many of these con artists are posted on various consumer websites and with the State Attorney General office.  And the Better Business Bureau for that matter.  Check them out.  Also, if no one has ever heard of them then I would pass.

: To think that all investors or various programs are bad because of some bad ones is similar to using stereotypes.  Don't typecast the group based on the bad apples.  Instead use common sense.

: As a foreclosure specialist working with a number of the banks doing foreclosures I can say from experience that this fear is hurting homeowners as much as helping.  People who may have worked out alternatives are so fearful, that they simply lose the house rather than checking things out that may have hurt them.  They do nothing until it is too late.

: Being careful is different than being paranoid.

: Just my opinion.

: Oh, and I am not associated with any of these programs.

: Steele V. Propp
: Foreclosure Specialist
: Minneapolis, Mn


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