How good is Consumer Legal Centers for debt settlement?
How good is Consumer Legal Centers for debt settlement?Could anyone share experience of using consumerlegalcenters.com
(Kathleen Fuchs Attorney) for debt settlement?BTW, can California attorney (as above) represent me with debts in New
York state?
Debt consolidation thru such an organation is frowned on by lenders
and has a negative effect to your credit rating. Bankruptcy is bad.
Question, do you own a home? If you do have you considered getting a
home equity loan? This would take care of you situation and hurt your
credit. When you payoff bad debts your credit score will improve.
Call me maybe I can help you. I'm a loan officer at a mortgage co.
Harry at 1-(810)239-8553 ext#216 or e-mail at hgre...@yahoo.com
I disagree as an attorney with this advise.
What happens if she cant pay her mortgage and debts after your refinancing??
She loses her home!
What happens when you refinance her while her credit is poor???
She goes from owning on a Class A home mortgage rate at 7% to
owing on home at 11% and as high as 26% mortgage rates for B and C
mortgages.
As a result she loses her home to a predatory lender who makes thousands off
her by promising her a "solution to bankruptcy" while he steals her home
with
hidden packing of the loan, prepayment penalties, flipping of her home
mortgage,
high closing costs or other fees that are hidden in the loan and other items
I wont waste
my time going into.
Please I am not calling this mortgage broker anything he may be honestly
trying to
offer help but a lot of predatory lenders also offer "help" to debtors and
end up
stealing the Debtor's home. Generally a debtor that is considering
bankruptcy needs
to talk to an attorney to see if they would lose their house in a bankrutpcy
and
seek proper financial advice not from a mortgage broker but from an attorney
or
CPA. The average Class A lender mortgage broker will make 1,000 dollars
from
refinancing your home. The Class B and C lenders will make as much as
15,000 to
20,000 from refinancing an 80,000 dollar home. More expensive homes may
have
higher costs. Refinancing a home just isnt a bargain or a proper solution
to a
debt problem. Either make more money, live on a smaller budget or file
bankruptcy.
If you want to know more about bankruptcy I have a free manual on it at
WWW.Bankruptcy-Divorce.com