Obviously, per the article title, debt relief programs are not as benign as they’d like for you to think. It works like so: You sign up with a debt settlement company. They negotiate with your creditors to allow you to pay a lump sum that is less than the full amount that you owe.
What is chunking in mortgage?
Chunking occurs when a third party convinces an uninformed borrower to invest in a property (or properties), with no money down and with the third party acting as the borrower’s agent. The third party retains the loan proceeds, leaving the borrower with multiple loans that cannot be repaid.
Can I get my money back from National Debt Relief?
We offer a Money Back Guarantee because we want Satisfied Customers! Our Guarantee: By joining our program, you will be on your way to reducing your debts. We are so confident in our professionalism, level of service and ability to get results, that we do not charge a single penny in fees until your debt is settled.
How does chunking work?
Chunking refers to the process of taking individual pieces of information and grouping them into larger units. By grouping each data point into a larger whole, you can improve the amount of information you can remember. For example, a phone number sequence of 4-7-1-1-3-2-4 would be chunked into 471-1324.
What is property skimming?
Equity skimming is a type of real estate fraud scheme that became popular in the early 2000s following the mortgage crisis. It basically involves a person or investor gaining title to another person’s home, then refinancing the home and taking out all the equity in the property.
Is there such a thing as a loan modification?
The loan modification offer is one of the offers that scammers notoriously use to prey on unsuspecting homeowners. Falling for one of these scam artists can make their financial situations even worse, potentially leading to the need for credit repair by a company like Lexington Law.
Is the national debt relief program a legitimate company?
Is the National Debt Relief Program legitimate? National Debt Relief is a legitimate, reputable company dedicated to helping clients address overwhelming debt. We’re A+ rated by the BBB, and our team of debt arbitrators is certified through the IAPDA (International Association of Professional Debt Arbitrators).
Can you get a loan modification from Lexington Law?
Falling for one of these scam artists can make their financial situations even worse, potentially leading to the need for credit repair by a company like Lexington Law. Legitimate loan modifications can happen for eligible homeowners, but they often come with wording like this:
Where can I get free loan modification counseling?
This, in itself, is ridiculous, because homeowners can receive such counseling for free by simply contacting the U.S. Department of Housing and Urban Development. So, homeowners who encounter people who say they can help them, as long as they pay, should run for the hills.
