{"product_id":"2940014132237","title":"Avoid Foreclosure Hell","description":"Chapter Two - Foreclosure Scams -\u003cbr\u003eThere are predators out there who look at homeowners in poor financial\u003cbr\u003esituations as easy prey, devising a number of scams and fraud attempts\u003cbr\u003eto take advantage of people who are already on a heck of a financial\u003cbr\u003erollercoaster. It is important that you protect yourself by staying current\u003cbr\u003eon the foreclosure fraud and scams that are circulating, so that you do not\u003cbr\u003eget taken by one of these fraudsters. Here are some of the more\u003cbr\u003eprevalent scams that people are trying to pull over on homeowners and\u003cbr\u003efamilies buying homes or facing foreclosure.\u003cbr\u003e- Sales Leaseback - People often tout this as an easy deal, requiring that\u003cbr\u003ethe homeowner hand his or her deed over to an \"investor\" for little or no\u003cbr\u003emoney, on the basis that the homeowner can continue to live in the home,\u003cbr\u003eleasing it back with the option of repurchasing within a year. This may\u003cbr\u003esound like an excellent concept, but there is a serious catch involved.\u003cbr\u003eEven if you sign the deed over to someone else, you are still legally\u003cbr\u003eresponsible for the mortgage, meaning that you would be paying both the\u003cbr\u003eoriginal mortgage and the lease amount to the investor. Paying twice what\u003cbr\u003eyou were already having difficulty paying will be close to impossible and\u003cbr\u003eone missed or late payment will have you evicted from the home, and the\u003cbr\u003ehome sold out from under you.\u003cbr\u003e- Predatory Lending - Unfortunately, there are a large number of\u003cbr\u003elenders out there who offer loans with the specific intention of taking\u003cbr\u003eadvantage of borrowers who cannot afford to make the payments. If there\u003cbr\u003eis any equity in the home at all, these lenders will attempt to take it all in\u003cbr\u003ethe form of incredible fees, exorbitant interest rates, and nightmare\u003cbr\u003eprepayment penalties. While new laws are being passed that prohibit\u003cbr\u003e8\u003cbr\u003emany of these predatory practices from occurring, it is still quite easy for\u003cbr\u003elenders to take advantage of homeowners in bad financial situations.\u003cbr\u003eHere are some of the predatory lending practices that you need to steer\u003cbr\u003eclear of:\u003cbr\u003e- Frequent Refinancing - The frequent refinancing of loans without\u003cbr\u003eoffering any real benefits to the homeowner or borrower, or frequent\u003cbr\u003erefinancing of loans simply so that the lender may generate additional\u003cbr\u003efees for him or herself.\u003cbr\u003e- Equity Switching - Equity stripping, by persuading an owner in dire\u003cbr\u003efinancial straights to take out a loan far beyond his or her ability to repay\u003cbr\u003eit.\u003cbr\u003e- Bait and Switch - Attempts at bait and switch, where lenders advertise\u003cbr\u003ea specific set of 'teaser' fees and interest rates, then the rates and fees\u003cbr\u003eskyrocket suddenly at the point of closing, reaching points that are\u003cbr\u003ebeyond the homeowner's means.\u003cbr\u003e- Appraisal Inflation - Inflating appraisals up front, forcing the\u003cbr\u003ehomeowner to take on much larger loans with much higher interest rates.\u003cbr\u003eHomeowners lose the opportunity to refinance the amount of the loan at a\u003cbr\u003elater time, because the value of the home is no longer enough to cover\u003cbr\u003ethe full amount of the loan.\u003cbr\u003e- Loss Mitigation - This practice is regularly referred to as \"I can prevent\u003cbr\u003eyour foreclosure, but only if you pay a fee\". People who try to force this\u003cbr\u003etype of a process on unsuspecting people tout it as the ability to stop or\u003cbr\u003eprevent foreclosure, but only for a fee paid up front. The problem with this\u003cbr\u003e9\u003cbr\u003etype of service is that the \"rescuer\" cannot guarantee that they will\u003cbr\u003eactually prevent your foreclosure from occurring, yet they still collect your\u003cbr\u003efee up front. If you want to protect yourself as a homeowner in a bad\u003cbr\u003efinancial situation, there are much easier ways to do it without paying\u003cbr\u003eexorbitant fees to \"rescuers\" who more than likely will not be able to help\u003cbr\u003eyou.\u003cbr\u003e- List and Sell - This is a scheme that is becoming quite popular among\u003cbr\u003ereal estate agents and brokers looking for additional income streams. The\u003cbr\u003econcept is simple: The real estate agent convinces a homeowner in default\u003cbr\u003eto allow the agent to list the home in an attempt to sell it. The real estate\u003cbr\u003eagent promises that if the home is not sold within the period before the\u003cbr\u003eforeclosure auction, which is typically around sixty days away, he or she\u003cbr\u003ewill purchase it.\u003cbr\u003eBut here is the catch: In too many cases, the real estate agent will\u003cbr\u003edrastically overprice the property when listing it in the MLS or Multiple\u003cbr\u003eListing Service, so that nobody expresses any interest in purchasing it.\u003cbr\u003eThen when it does not sell, the agent is able to purchase it for\u003cbr\u003esubstantially less than what it was listed for.\u003cbr\u003e- Hiding things in the contract - Some scammers and predatory\u003cbr\u003elenders like to hide a variety of different bombshells right in the contract\u003cbr\u003ewhere they cannot be found. They wait until the absolute last minute, and\u003cbr\u003ethen make these hidden terms known. By now, it is too late for the\u003cbr\u003ehomeowner to renegoti","brand":"99 \u0026cent; eStore, save a lot more","offers":[{"title":"Default Title","offer_id":47083496308976,"sku":"2940014132237","price":0.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/2940014132237_p0.jpg?v=1763601223","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/2940014132237","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}