More home owners in Los Angeles who are desperate to avoid foreclosure are finding themselves victims to loan-modification scams that are all over.
In the latest to headlines, attorneys in California, where these scams are particularly rampant, filed the state’s first class-action lawsuit against an alleged loan modification scam, part of http://www.rewiremyloan.com/. In the lawsuit, prosecutors charge that the company collected nearly $5,000 each from at least 90 victims, promising to do loan modifications and offering a 100 percent money-back guarantee. The victims say the company never did the loan modification or refunded their payments.
The majority of the victims in the lawsuit are Spanish-speaking, and while the advertising and discussions they had with the company were in Spanish, they say the contracts they signed were in English. The home owners say they were also told to not contact their bank directly or their contracts would be voided. (Read: How to Spot Foreclosure-Prevention Scams)
Scam Prevention Network
The Lawyers' Committee for Civil Rights, government housing agencies, and other nonprofits have created the Loan Modification Scam Prevention Network to compile complaints about such fraud. From February 2010 to June 1, the network gathered nearly 15,000 complaints involving $37 million in lost money. California accounted for the majority of the losses, with 3,105 complaints filed and $11 million in losses from these scams.
For home owners who believe they were a victim of a loan-modification scam, the Loan Modification Scam Prevention Network encourages them to visit www.preventloanscams.org to file a complaint. I have always understood that people need to be surrounded by a team of financial expert, that can guide them so they can potentially reduce dramatically the risk of financial setback, but if for any reason financial setback occur due to unforseen circumstances, they can at least get reliable advice for experts.
Andre Plessis, REALTOR & Financial Educator.
Call - 1-877 APPLYFREE NOW!!!
Wednesday, July 6, 2011
Friday, June 10, 2011
How Much Will It Cost To Raise A Child In 2011?
The cost of raising a child continues to climb and parents starting a family this year should be prepared to shell out hundreds of thousands of dollars before their kid even turns 18.
According to the U.S. Department of Agriculture, children who were born in 2010 will cost a middle-income family nearly $227,000. The kicker , that number does not include college tuition.
According to the study, the highest price hikes were in child care, education, health care and transportation.
In 1960, when the first report was issued, it cost slightly more than $25,000 to raise a child to the age of 18.
According to the U.S. Department of Agriculture, children who were born in 2010 will cost a middle-income family nearly $227,000. The kicker , that number does not include college tuition.
According to the study, the highest price hikes were in child care, education, health care and transportation.
In 1960, when the first report was issued, it cost slightly more than $25,000 to raise a child to the age of 18.
Falling Home Prices Dwindling Home Equity
On average, home owners now hold about 38 percent equity in their homes, down from 61% a decade ago, the Federal Reserve says in citing data from the first quarter of this year.
Despite outstanding balances on loans getting smaller, home owners are losing equity due to drastically falling home prices, which have inched down in many markets since prices peaked in 2006, the Fed reports.
Home equity is an important indicator to the overall health of the economy because the more home equity people have, the more wealthy they tend to feel. Plus, home equity also tends to serve as collateral for other loans.
Despite outstanding balances on loans getting smaller, home owners are losing equity due to drastically falling home prices, which have inched down in many markets since prices peaked in 2006, the Fed reports.
Home equity is an important indicator to the overall health of the economy because the more home equity people have, the more wealthy they tend to feel. Plus, home equity also tends to serve as collateral for other loans.
Monday, June 6, 2011
How To Find Crimes in an Area?
If you want to move to an area, it may be a good idea to see how crime rate is inthat particular area. There are 4 websites you can visit and will give you the latest update on how to spot crimes in an area you live in or you want to move in.
Visit:
http://www.crimereports.com/
http://www.everyblock.com/
http://www.spotcrime.com/
http://www.trulia.com/voices/q_Crime+Rate+By+Zip+Code/
http://www.trulia.com/crime/#
Visit:
http://www.crimereports.com/
http://www.everyblock.com/
http://www.spotcrime.com/
http://www.trulia.com/voices/q_Crime+Rate+By+Zip+Code/
http://www.trulia.com/crime/#
Saturday, June 4, 2011
Monday, May 30, 2011
How To Find The Best & Most Reliable Charities
Charity Navigator, America's premier independent charity evaluator, works to advance a more efficient and responsive philanthropic marketplace by evaluating the financial health of over 5,500 of America's largest charities.
Are You Being Owed Money By The State of California?
Are you being owed money by the state of California? You may be one of millions of Californians owed money by the State!The State of California is currently in possession of more than $5.7 billion in Unclaimed Property belonging to approximately 11.6 million individuals and organizations.
The State acquires unclaimed property through California's Unclaimed Property Law, which requires "holders" such as corporations, business associations, financial institutions, and insurance companies to annually report and deliver property to the Controller's Office after there has been no customer contact for three years. Often the owner forgets that the account exists, or moves and does not leave a forwarding address or the forwarding order expires. In some cases, the owner dies and the heirs have no knowledge of the property.
The most common types of Unclaimed Property are:
The State acquires unclaimed property through California's Unclaimed Property Law, which requires "holders" such as corporations, business associations, financial institutions, and insurance companies to annually report and deliver property to the Controller's Office after there has been no customer contact for three years. Often the owner forgets that the account exists, or moves and does not leave a forwarding address or the forwarding order expires. In some cases, the owner dies and the heirs have no knowledge of the property.
The most common types of Unclaimed Property are:
- Bank accounts and safe deposit box contents
- Stocks, mutual funds, bonds, and dividends
- Uncashed cashier's checks or money orders
- Certificates of deposit
- Matured or terminated insurance policies
- Estates
- Mineral interests and royalty payments, trust funds, and escrow accounts.
The Unclaimed Property law was enacted to prevent holders of Unclaimed Property from using your money and taking it into their business income. This law gives the State an opportunity to return your money and provides California citizens with a single source, the State Controller's Office, to check for Unclaimed Property that may be reported by holders from around the nation. To find out if any of this money belongs to you, visit http://scoweb.sco.ca.gov/UCP/.
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