Has anybody ever heard about this?
Helllo Everybody... I have a question for ya'll.
I am a house owner and i recently friend of friend of a friend of mine told me about this new thing. There is this guy and he started a program where he does something with goverment money and he makes your house free and clear. I am not sure how it works but its strictly confidential. The fee for this service is 1995$ and its a 3 months process ,where you get your house free and clear and then its up to you if you want to refinance it. I dont know what they do but they are saying that they are using goverment bonds to pay your house off. So far 800 people are involved and I was wondering if I should join. I mean i would love to get 100,000 check on my house and probably get bigger one. Anyways What do you guys think? :P
Re: Has anybody ever heard about this?
If this is legit, it HAS to be some sort of government grant filing which applies to minority housing in certain areas. Take it if you can get it!
Re: Has anybody ever heard about this?
Melonie, supposedly this is legit and it has something to do with the laws of 1935 ,i beleive when bankruptcy in us occured. Thats what I ve been told at least. I am ust waiting on at least one success story so i can do it.
Re: Has anybody ever heard about this?
something about goverment money that hasnt been used. ayways whatever it is , i guess not a lot of people heard about it but they have conference calls and etc.
Re: Has anybody ever heard about this?
Quote:
Helllo Everybody... I have a question for ya'll. ...
I am not sure how it works but its strictly confidential. The fee for this service is 1995$ and its a 3 months process ,where you get your house free and clear ...
If something sounds too good to be true, it usually is. Think about it. Why would the government pay off your home mortgage? The federal government is running a $455 Billion!!! deficit for FY 2003 and FY 2004 looks just as bad or worse. Some of the states are in the same mess. Your house is already heavily tax advantaged. If even a small portion of the homeowners took advantage of this program, it would bankrupt the federal treasury. This smells like a scam. Keep your money.
Re: Has anybody ever heard about this?
I agree with Zofia, sounds like a scam. Negating the logistics of paying your house of by use of govt. bonds…why would they charge an upfront fee vs taking a percentage after the deal is done? A lawyer would certainly be a good idea.
Re: Has anybody ever heard about this?
Sounds like this friend of a friend of a friend is running a pyramid scheme. Has to be total BS. If you owe $90,000 on your mortgage and your house is worth $100,000 you won't receive a check for $100,000 the bank will want it's balance of $90,000. So it seems to me you would either be getting essentially a home equity loan which basically means you have no equity in your current house or this friend of a friend of a friend will get the check which means he is a thief. Keep your money and keep your house, if you still think it is a good deal go see a lawyer who has NO RELATIONSHIP with either of the three friends.
My call is BS.
Take this from someone who has been ripped off by friends before.
Re: Has anybody ever heard about this?
Well it could be some obscure grant program that was initiated ages ago, forgotten about, and some dude stumbled upon it and decided he could make some money with it. I wouldn't trust it though, sounds kind of fishy. Also if it IS legit, you could handle it yourself if you are willing to do the research, and skip the $2000 fee.
Re: Has anybody ever heard about this?
In my LE career I investigated a similar scheme, they had home owners sign papers which effectively was a an equity loan on the house and screwed with the money. He left 5 home owners with loans they didn't even know about till they got the forecloser notices. My advice is to run away from this deal sexy!
Re: Has anybody ever heard about this?
YES GUYS, oh i forgot about this topic, but no I didnt join them. I kept calling and listening to the conference calls but i have never heard anybody telling me at least ONE success story. You guys are right, some guy started this program and he has a great beleif, but oh well he is still running it and taking 2000 $ from people. The funny thing is that they told me that somebody tried it before and they asked homeowner to STOP paying their mortgage and thats why homeowners got burned. I am still watching these people but wont put my foot in there unless i see something.It sounds tooo good. My house was 130, and i put down payment of 18,000 and pluss the people said they would take 15 000 from you if the deal goes trough, i mean the deal is guarnteed just the timing that is not guaranteed. I apologize for writing in this way i am still not good with english yet.
PEACE
Re: Has anybody ever heard about this?
i mean i speak and write clear lol i just cant put COMAS someties lol:)
Re: Has anybody ever heard about this?
I'm gald you didn't take the deal. BTW, with a "booty" like that, you "don't need no stinking commas" LMAO
Re: Has anybody ever heard about this?
:)
When something sounds too good to be true it is...
In California one man was brought up on over 600 charges of bank fraud and racketeering for a similar "get rich quick" scheme.
People paid a paperwork/administration fee to have a company pay their mortgage in full while guaranteeing an equity check with no strings attached to the owner.
6 months later, the banks began foreclosure proceedings on these victims who had not made payments to their deed holders as the "fake company" stated they were. These companies also had their names added to the titles and divested the equity in the homes they pillaged for themselves.
Biggest victims of these scams are foreigners, single women and people in dire need of financial assistance with a home.
BEWARE!!!!
Re: Has anybody ever heard about this?
As far as grants go, I did buy one of those, "complete grant lists" and sure, it lists all kinds of places, but not specific on details. Next thing I know I get calls from people telling me they will write a grant request for me for a fee. I did learn one thing, the goverment only gives grants to situations where it will benifit in the end. Your house is the most important financial purchase you can make, it is a tool to your financial future, and there are a lot of unethical people out there that will do anything to get whatever they can from unsuspecting people, and trust me, they will not lose any sleep over it. I wouldn't touch this program with a twenty foot cattle prod...