Imagine landing your dream home. Your credit is a bit shaky, but you manage to get a subprime loan with an adjustable rate mortgage. A few years later the interest rates jump and you can no longer afford to pay. You see an ad for a business thats willing to helpitll pay your mortgage for a modest monthly fee while you get back on your feet. But heres the heartbreak: its a scam. The con artists just take your money and run
Its just one of the latest schemes and frauds being seen these days across the financial services industry.
These scamswhich include plenty of shenanigans with mortgages and subprime loansare costing the nation tens of billions of dollars a year.
Millions of homeowners are caught up in this subprime mess. The Federal Reserve has gotten involved in an attempt to bail out the mortgage loan companies. Criminal charges may be filed against these companies for falsifying records, loaning money to under-qualified home buyers, and not reporting the truth to investors.
These are all good reasons why the US government is squarely focused on cracking down on the largest of these financial crimes, launching proactive initiatives and...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
