Freddie Mac Reaches Out
December 14th, 2007 Categories: Mortgages & Loans, Real Estate News, Sellers
It’s still too early to tell if the president’s compromise for the sub-prime mortgage “crisis” will have an impact on the recent increase of short sale properties. But I’m glad to see that Freddie Mac is starting to get the word out about mortgage fraud.
Thanks to Teresa Boardman and her great St. Paul Real Estate Blog for getting the word out. I’m adding it here as a public service announcement. I hope my other real estate blog buddies will add it to their sites to spread the word.
Before you sign anything– take the paperwork to a lawyer for review. Don’t be in a rush to sign anything. Don’t feel pressured into signing ANYTHING. Bring the paperwork to a lawyer. Maybe you think you can’t afford a lawyer– if you are in such a position, please contact a legal aid society. They may be able to help.
When we are in crisis and feel overwhelmed looking at foreclosure- we reach out to anyone who says they can help. Don’t be afraid to talk to your lender. Remember– they don’t want to own your home.
But, if you are behind on your mortgage and don’t know where to turn, call the National Foreclosure Hotline’s toll free number for help:
1–888–995–HOPE
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You might want to HIGHLIGHT the 888 number, its not 800. Poor company that has that number has been blasted with calls on that number.
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Thanks Mary- great info once again from our favorite northern Virgina real estate age. I’ll post it this am… Terry McDonald
[…] this important video from the folks at Freddie Mac. Special thanks to Mary from Beltway Ramblings for […]
Great info from Freddie Mac. Thanks for getting the word out about mortgage fraud and the legal aid so many people need right now!
Mary,
Thanks for the very informative post packed with outstanding links for us to help broadcast the help that is available to the people who need help with their mortgages right now. I am on the road traveling, but will be back in next week and I will help getting this legal aid information out through my blog as well.
Chad
Thanks Mary- you are an invaluable resource for north Virginia homeowners.
Thanks for the update - as fast as things keep happening there can be a lot of home mortgage misinformation. I’ve seen so many people who “couldn’t afford a lawyer” pay dearly after the fact when they HAVE to pay them big bucks to try and clean up a real estate transaction mess. - Cyndee Haydon
Virginia homeowners can depend on you as their well informed Realtor during a difficult time for many Americans.
Mary - I also posted this video as a follow up to a previous post. It is important people who are behind on their mortgage payments know where they can go for help. We can’t post it too many places!
re: Foreclosure Fraud, FREDDIE MAC, Well Fargo, Court Corruption
Representation to Investors by FREDDIE MAC or by WELLS FARGO that its $$$ billion dollar losses due to people defaulting on mortgages should be weighed against the fact that Freddie Mac and Wells Fargo needlessly pay DEBT COLLECTION firms outrageous legal fees for corporate lawyers to outmaneuver –and even persecute people who file court proceedings in opposition to fraudulent foreclosures. Thus, representations about $$$ billion dollar losses due to people defaulting on mortgages should be weighed against the fact that companies such as Freddie Mac needlessly pays DEBT COLLECTION firms outrageous legal fees for corporate lawyers to outmaneuver –and even persecute people who file court proceedings in opposition to fraudulent foreclosures.
FORECLOSURE FRAUD enables MORTGAGE LENDERS to ILLEGALLY FLIP properties. It is HIGHLY COMMON for a DEBT COLLECTOR attorney to file a foreclosure: (i) in the name of a DEFUNCT mortgage company;(ii) in the name of a mortgage company which is NO LONGER holder of the security interest (the promissory note); or (iii) file a foreclosure and AFFIX a “ransom” amount (the collector’s fee) far exceeding what the promissory note “Acceleration Clause” authorizes. In Louisiana, Wells Fargo and FREDDIE MAC greatly benefit from fraudulent foreclosures. Irrefutable PROOF of White Collar real estate and mortgage fraud is posted on my www.lawgrace.org website.
Despite a property owner’s entitlement to Challenge CONTRARY-TO-LAW loss of his / her home, most property owners LACK legal knowledge; the Court System is REFRACTORY; and there are limited attorneys with Consumer Law acumen. Also, when borrowers sue for “Unfair Debt Collection Practices,” damages, the collector gets to make more $$ through prolonged litigation, as co-conspirators enjoy the foreclosure fraud pie, Investors get zero.
-Barbara Ann Jackson
www.lawgrace.org
Barbara-
Thanks for giving another viewpoint on this complicated issue. Everyone gets hurt in the process. Not only people who are facing foreclosure- but we are starting to see a tightening of the belt from the mortgage companies to people who are trying to buy in this market. Not impossible for people to get a mortgage- but the credit history threshold is rising for the average person.
As someone who is showing bank properties- I can tell you that the banks are not trying too hard to make their properties marketable to people who might want to buy them. It’s clear that they are not in the real estate business and are making it harder to sell their own properties.
Thanks Mary for providing a video that a lot of people such as myself probably would have never found.
Barbara also enjoyed reading your nuggets of advice that you added.
Look forward to reading more of your informative blogs.