Mortgages & Creative Financing

U.S. Senate Plans to Consider "Foreclosure Rescue Scam" Legislation. Its Time to Speak Up, Investors!

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23 Articles Written
Time to Speak UP! The following information is about what the U.S. Senate is up to. If any of this becomes law, it will have a direct and severe impact on my business. There are very good and honest investors out there and BiggerPockets has been a great place for new & seasoned investors to [...] View the full article: U.S. Senate Plans to Consider "Foreclosure Rescue Scam" Legislation. Its Time to Speak Up, Investors! on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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    Jeff Brown
    Replied over 11 years ago
    Kidding on the square — where’s NAR in all this? Aren’t they my Knight in shining armor? You’re right about this proposed legislation. It’s typical of the politically pandering congress, which if passed will be immediately followed by nasty and unintended consequences. Thanks for being on this stuff.
    Ben DeBell
    Replied over 11 years ago
    The problem is that people hear the word “scam” and they lose some common sense. The truth is, any scammer can take legitimate business practices and use them to defraud people. A legitimate investor can use the same techniques for legitimate deals.
    Lake Michigan Beach Builders
    Replied over 11 years ago
    sheesh! why dont they give it a rest!
    Mark Jones
    Replied over 11 years ago
    Most of the foreclosures are due to adjustable rate mortgages(ARMs). Many homeowners who got adjustable rate mortgages (ARMs) on their properties when rates were at an all-time low. Now those adjustable rates have increased and many homeowners find themselves making payments on homes that have no equity or even have negative equity. There is still hope for homeowners in foreclosure.