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Posted by Steele in Minnesota on September 10, 2005 at 18:12:34:
In Reply to: 3 months late posted by amana on September 09, 2005 at 19:52:11:
: Hello:
: I am three months late on my mortgage,and the bank is threatening foreclosure. I ran across this a program that offers to give me my back notes, and three months ahead notes, plus lower my payment by 200 bucks. I have to sign over the house for 12 months and them refinance with their mortgage company, there is an upfront fee. Is this legal, and what is the fine print, can they take my house?
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Hard to say with so little information. Yes, there are some companies that are less than legit out there. And this is a program type they use. At the same time there are some legit ones that use the 12 month program as well.
Why don't you share the name of the company here. If anyone has information on it I'm sure they won't be shy.
In the meantime, you need to do some homework on it. Better Business Bureau and State Attorney General Office are good places to start. And go to the "Foreclosure Scams" information on this site. Lots of good stuff there.
Steele V. Propp
Foreclosure Specialist
Minneapolis, MN
steelep@aol.com
