With 55% of Plainfield's 2005 home sales closed with subprime mortgages -- many of which are due to reset this year -- a new danger has surfaced.
Unscrupulous firms offering to help those in trouble with their mortgages with promises of cash upfront or free monthly 'rent' while being able to stay in their homes front for third parties who strip the homes of their equity and leave the homeowners facing sure foreclosure and eviction.
The technique is detailed by the NY Times. Read more...
NY Times: "New Scheme Preys on Desperate Homeowners"
-- Dan Damon
View today's CLIPS here. Not getting your own CLIPS email daily? Click here to subscribe.
ARCHIVED POSTS OF PLAINFIELD TODAY FROM 11/03/2005 THROUGH 12/31/2006 ARE AT
http://plainfieldtoday.blogspot.com/
http://plainfieldtoday.blogspot.com/
0 comments:
Post a Comment