Agent

Too-good-to-be-true mortgage offers

Debt elimination shouldn't come with upfront fees
Published on Sep 30, 2010

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

There's a new buyer-beware issue in the mortgage banking game that smells a lot like what was cooking in the "mortgage elimination" kitchen a few years ago.

Internet marketers have been sending messages to borrowers indicating that they can get their "mortgage canceled or principal reduced" by signing up for a $320 mortgage matrix that could magically eliminate debt with their lender. One offering purported to have saved a client $61,000 in late fees while reducing the principal portion of the loan by $50,000.

Comments