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Home builders ramped up production, expecting buyers to take advantage of lower prices and jump into the market. But not this time.These days, homeowners who got fixed-rate prime mortgages because they had good credit can’t make their payments because they’re out of work.
But EVERY MORTGAGE IS A REVERSE MORTGAGE if you understand that its not the words in the mortgage that matters. It’s the security, not the words in it. When we hand the bank attorney the mortgage, he and the bank become the trustee ON THE TRUST CREATED BY THE TRANSFER OF THE SECURITY.
The Home Equity Theft reporter: foreclosing bankster Agrees To Wipe Out South Florida Homeowner’s Mortgage After Document Review Reveals Scott Anderson-Robosigned Paperwork You can’t buy homes and take out the equity to pay past investors just to strip the equity out of another home. All the while, defrauding the lender you are borrowing.
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· The bureau has rooted out foreclosure rescue schemes in which homeowners are tricked into signing over the deeds to their homes to operators who buried the properties even deeper in debt. Agents have disrupted cases of identity theft in which criminals open — and exhaust — home equity lines of credit and leave homeowners stuck with the bill.
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