Commentary with Winston Barnes: Harder Times?
DAVIE – Homeowners who currently find themselves in trouble, maybe a short distance from foreclosure should become even more wary. While some people are hanging on every word from the president about bail outs and stimuli, some people have made up their minds they are going to exploit the situation no matter what.
For example, folk who were squeezed out of the market because of the collapse of the real estate and mortgage entities are changing or trying to change their spots and come back as loan modification specialists.
Attorneys who specialized in completely different areas of practice have almost over night becomes, you guessed it, modification specialists.
If at any time, caveat emptor meant anything it is now, for buyers to be aware. Reports are that so called modification specialists are playing the same old commission game again. This time around documents are being prepared, sometimes for amounts equal to a month’s mortgage only for the bank to turn down the request for modification.
In other words there are so called specialists willing and ready to take money from people on the verge of losing their homes with no relief in sight. Only more grief and less money in their pocket.
Winston Barnes
Host – “Open Mic” WAVS 1170AM
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