Archive for the ‘Scams’ Category

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The Million Dollar Question: Loan Modifications Changing Rules

April 1, 2014

Anyone going through a loan modification knows it’s not a simple and easy process. There have been many discrepancies with the banks especially when it comes to loan modifications. The million dollar question is why are loan modifications changing the rules? My thoughts are some of the rules need to be changed to regulate the banks. Most loan modifications  I have investigated don’t benefit the consumer very much. The purpose of a loan modification in the Bank’s eyes is to extend the time of the loan in which the borrower can catch up on what they are behind. The truth is some modifications can hurt the consumer even more. Many loan modifications give the bank the right to add on extra fees and interest that normally wouldn’t be added on. This in turn hurts the consumer in that it puts them even further behind on their mortgage. Where loan modifications can help many consumers, they usually are only a temporary solution. This is because while during your trial payment period you may have lower payments, most of the banks doing the modifications will find a way to add extra interest and fees and therefore may result in a higher mortgage payment. Sometimes the best way to get out of your situation is to sell your home.

Most consumers do not know that if they sell their home they may be able to get money from their mortgage company as a relocation fee in order to avoid foreclosure. Anyone needing information about this should contact an expert. A mortgage broker that works with mortgage attorneys can often help. Stay far away from anyone that wants to charge you high fees to help you with a loan modification. Attorneys you hire that help you can often times charge their fees to either the mortgage company or mortgage broker.

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Google Penguin The Latest Algorithm Launch

June 6, 2013

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The latest algorithm launch is Google Penguin. This was created by Google as a way to decrease search engine results for those websites that violate Google’s webmaster guidelines. The main goal of Google Penguin works to add websites that are reported as spam to a black list known as spamdexing or Black-Hat SEO. It’s a way of poisoning the search engine results to prevent these hacker websites from getting through to the user. The term Black-Hat refers to a hacker that violates computer security for malicious reasons and or financial gain. I have seen all to often when someone clicks on an article or an ad, and unknowingly malware files download to their computer and start altering their registry files like a virus. Once downloaded these files are often hidden and hard to remove. Yeah for Google! For creating the new Google Penguin that will help increase internet security for everyone.

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Beware of Sweepstakes Asking for Money

May 29, 2013

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I despise companies that take advantage of people asking them for money in order to receive a prize. There are also companies or individuals posing as legitimate companies to collect personal bank account information. There are all types. This is a scam I received in the mail today.

Award Assessment Division
PO Box 2905
Kansas City, KS 66110-2905
United States of America

This company claims that I have won $3,000,000.00 and that I am scheduled to receive 30 payments of $100,000.00 over a 30 year distribution. They are requesting that I send a check back to them in the amount of $11.89 in order to secure premium offer acquisition fee in order to secure delivery. They state that payment is required in order to reserve delivery. After doing some research the company NextGen, Inc. is responsible for sending out these mailings. There have been many complaints logged against them at the Better Business Bureau. http://www.bbb.org/kansas-city/business-reviews/prize-promotions/next-gen-inc-in-overland-park-ks-89110035/

As a general rule never send a company money as a condition in order to win something. Some companies will offer legitimate products or a service that is never a condition for winning sweepstakes. Always check out the company you are dealing with before you do business with them.