Love this story of this family fighting the foreclosure. The mortgage companies smoke and mirrors are exposed. So far this family is winning, but we will see in the long run.
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Fighting Foreclosure: One Family’s Story
How fighting back enabled a family to keep its home
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Although Smith and her husband were “viable citizens with good credit,” they were quickly steered into an expensive subprime loan with ballooning payments and hidden fees that they couldn’t keep up with. Their home’s builder was indicted and the mortgage broker was quickly revealed to be collaborating with the builder to, as Smith put it, “unload crappy homes for pretty quick money.” |
The bundling and reselling of mortgage loans as securitized investments on Wall Street was one of the principal factors in the housing crisis, which bled over into a full-scale economic meltdown. |
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Here is a great resource to help A Foreclosure Survival Guide
www.stopbankforeclosurestips.com/website/sales.html
Just copy and paste in your browser.
Tags: Law & Ethics
