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 All Emil's posts and comments (240)

Comment on: Examples of Scams and Fraudulent Loan Offers and Lenders

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment 30 hours ago... modified 30 hours ago

Classic scam!!!
=============

Dear Customer,

Our Head Office is now interested in your loan transfer.I want to let you know some thing about myself,i am a man of  God(Reverend) and i do not partake in any illegal transactions, because it is against my religion.

I am out for the truth.I have made sure that your loan has been approved by the Board of Trustee from our Head Office in The united Kingdom.Below is the account where you are to transfer the fee into:

Gideon Mbanu
Lioyds Tsb Bank
Account Number: [removed]
Sort code: 777216
Swift code: loydgb21e95
Iban: gb79loyd77721681670760
Address: 27 west gate, peterborough.pe1 1yh, UK
 

As soon as you are done with the payment and i have receive a confirmation from our head office in United Kingdom i will not hesistate to transfer your loan.Hope to hear from you,so that we can come to the end of this transaction soonest.

God Bless You

Rev Dan Brown
General Consultant
Classic Trust Loan Firm

Comment on: Examples of Scams and Fraudulent Loan Offers and Lenders

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment 43 hours ago... modified 30 hours ago

Latest Scam Loan Offer:
================

Congratulations on your Pre-Approval!     

Give me a call my name is Carol Blair at [removed]

We are pleased to inform you that your recent request for a loan has been Pre-Approved! At [removed] we ensure full satisfaction and comfort to our clients. From low interest rates to small monthly payments, we achieve high recognition from out neighboring competitors.

You can visit us at our website [removed] to learn more information about our services. Please contact us by Phone [removed] or fax [removed]. Do not hesitate to also correspond with me through email address [removed].

Thank You,

Financial Advisor

Carol Blair

Comment on: How Does Aidpage Work

Posted in Emil on May 9, 2008... modified on May 9, 2008

 in response to River311...   

Hi River311, 

There are 3 sections in "My messages".

When you browse Aidpage, there is a counter in your header showing a number of unread messages. This counter shows the number of messages that are directed to you and need your attention and reply. These messages are displayed in the first section on the "My message" page. They can be:

  • a private one-to-one message to you
  • a comment on a page that you created
  • a direct reply to a comment you left on any other page.

About each of these messages (in the first section), you are getting an email alert with a subject line similar to this one: You have a new message on Aidpage from John!

Now, you are also getting periodic email notifications (about once a day) with a subject line like this: 3 items since May 1, 2008 in "My messages" on Aidpage! These emails are like a digest telling you about all the messages and posts for the period - including those that are displayed in the second and third sections of "My messages"... So, the number you see in the subject line of this email digest reflects the total of posts (from all the three sections).

The posts listed in the second and the third sections are not necessarily messages directed to you - they are shown there so that you stay informed about the activity on pages under your control (second section) and on pages that may be of interest to you (third section).

We are alawys looking for ways to make things easier and I'm sure that we'll make My messages easier to use. It is only a question of time.

Comment on: Instructions: How to Use Aidpage

Posted in Aidpage User Support Group on May 8, 2008... modified on May 8, 2008

 in response to stardust7...   

Hi Stardust, 

I apologize for the delayed answer. 

There are 3 sections in "My messages".

When you browse Aidpage, there is a counter in your header showing a number of unread messages. This counter shows the number of messages that are directed to you and need your attention and reply. These messages are displayed in the first section on the "My message" page. They can be:

  • a private one-to-one message to you (like this one now)
  • a comment on a page that you created
  • a direct reply to a comment you left on any other page.

About each of these messages (in the first section), you are getting an email alert with a subject line similar to this one: You have a new message on Aidpage from John!

Now, you are also getting periodic email notifications (about once a day) with a subject line like this: 3 items since May 1, 2008 in "My messages" on Aidpage! These emails are like a digest telling you about all the messages and posts for the period - including those that are displayed in the second and third sections of "My messages"... So, the number you see in the subject line of this email digest reflects the total of posts (from all the three sections).

The posts listed in the second and the third sections are not necessarily messages directed to you - they are shown there so that you stay informed about the activity on pages under your control (second section) and on pages that may be of interest to you (third section).

We are alawys looking for ways to make things easier and I'm sure that we'll make "My messages" easier to use. It is only a question of time.

Thank you for being an Aidmate!

Emil

Comment on: Examples of Fraudulent Get-Rich-Quick Schemes

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment on May 6, 2008

Today's fraud example:
=====================

"Lets Work Together

Jack Travel and Tours Limited, An Asian Based Multinational
 Company seeking the service of a liaison officer who would act as a medium of
 reaching our customers abroad. Your Job is to receive check payment on
 our behalf and settle our clients with the payment.
 If you choose to work with us, you do not need to quit your present
 job, or have problems with your employers as this is on a part time
basis. An agent commission would be paid to you on a weekly basis.

WHENEVER YOU RECEIVE PAYMENT YOU WILL GET 10% ON EACH. IF YOU GET PAYMENT OF $3500 YOU WILL GET $350 FROM THAT AND GET THE 90% TO THE COMPANY.

 Kindly reply so that i can provide you with more details.

KINDLY INDICATE YOUR ACCEPTANCE BY FILLING THE BELOW FORM SO THAT WE CAN SEND YOU THE CHECK FOR IMMEDIATE PROGRESS. KINDLY SEND US:
 ============================== ===========================
 1. YOUR NAME:
 2. YOUR FULL ADDRESS (WHERE TO SEND THE CHECK TO)
 3. TELEPHONE NUMBER
 4. PRESENT OCCUPATION
 5. POSITION HELD
 ============================== ===========================
GOD BLESS YOU/Jack Owen

Name: Jack Owen
Position: Payment Officer
Email: [removed]

Time 24Hrs Daily"

Comment on: I keep getting error messages

Posted in Aidpage User Support Group on Apr 26, 2008

How do you go to this page... is it on Aidpage? Can you post here a link to the page (if it is not private page, of course)?

Comment on: DENTAL HELP IN NORTH CAROLINA

Posted in soulight on Apr 25, 2008... modified on Apr 25, 2008

 in response to hurting mouth...   

Here is the correct web address (click on the link below):

Safety Net Dental Clinics in North Carolina

And here is a bit more info:

Help with Paying for Dental Care

Finding dental care can be very difficult for many low income people. NC Medicaid and NC Health Choice for Children are programs that can help to cover dental expenses for people who qualify. To find out if you or your children qualify for one of these programs, contact your County Department of Social Services. You also may visit the NC Division of Medical Assistance web site or contact the DHHS Care-Line at 1-800-662-7030. Staff at this hotline also can help you find a dentist who accepts patients covered by Medicaid or Health Choice.

Comment on: Dodgy Donator

Posted in aussiesummers on Apr 24, 2008

 in response to aussiesummers...   

Aha... I thought it was a fraudster on Aidpage... :)

Comment on: Dodgy Donator

Posted in aussiesummers on Apr 23, 2008

What is the Aidpage nickname of this person?

How did she contact you - through private messages here on Aidpage... or through email... or how?

The latest upgrades of Aidpage...

Posted in Aidpage User Support Group on Apr 23, 2008

Today, we (the Aidpage Team) introduced some pretty significant upgrades in the Aidpage navigation and interface.

Please, if you feel like spending a moment to share your sheer joy or deep frustration with the way Aidpage works - here is the place (see the comments box below)... and now is the time (now is whenever you read this message)... :)

The Aidpage Team

Comment on: Does God give us more than we can handle?

Posted in W H O ~ K N E W on Apr 22, 2008

Lisa... now is the moment to stop smoking.

I stopped when I was seven... really... :)

I friend of mine and I started "smoking" (not really inhaling) at about 5 or 6 years of age. Somebody saw us... parents and teachers were all over us. We, totally on our own, drew some blood from our fingers and wrote on a piece of paper: "I will never smoke again." End of story - I never smoked again in my life... except, later in high school, just to teach some of my classmates... :)

Comment on: Does God give us more than we can handle?

Posted in W H O ~ K N E W on Apr 21, 2008

Lisa... don't go fast with the conclusions (or fears) of what this spot might be... There is no good in fearing something before it really happens. Let's hope that the thing will not be something bad.

You should probably spend time on the Internet learning as much as you can about whatever you hear from your doctor - so that you can be an "educated" patient. You know how to use the Internet. That's important.

Emil

Comment on: Grants for Business Startup/Personal loans

Posted in wsw1 on Apr 21, 2008

 in response to wsw1...   

Why would they want you to pay $3,300 upfront... Doesn't make sense to me. Check carefully who these guys are!

Comment on: profile pic

Posted in Aidpage User Support Group on Apr 18, 2008

It seems that you are trying to post pictures from your AOL account. 

Try with pictures from your computer. Do exactly as you did when you uploaded your current picture.

Comment on: education grants for seniors

Posted in Judith on Apr 7, 2008

 in response to QUEENC...   

Click on the link below and then scroll down the page to see the links by state:

Micro-Loans - US Government - Small Business Administration (SBA)

Comment on: Examples of Scams and Fraudulent Loan Offers and Lenders

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment on Mar 29, 2008

Here is one more fraudulent lender:

"UNIVERSAL GLOBAL FUNDING WORLD WIDE LENDER APPLY NOW
UNIVERSAL GLOBAL FUNDING. (WORLDWIDE PRIVATE LENDER)
Mr.pollhook. Loan Broker, UNIVERSAL GLOBAL FUNDING.

I am Mr pollhook,I am a private Loan lender,i offer Loans to
individuals, Firms and corperate bodies at 2.5% interest rate, loan
terms determinant.
Loan for developing businesses a competitive edge.
I offer the following kinds of loans
* Personal Loans (Secure and Unsecured)
* Business Loans (Secure and Unsecured)
* Undergraduate Loans
* Graduate Loans
* MBA Education Loans
* Medical Education Loans
* Legal Education Loans
* Study Abroad Loans
* Consolidation Loan
* Combination Loan
Collateral And Non- Collateral Loans
Loans For Your Business Startup: Loans for Everyone, I offer loans
between an amount ranging from £1, 000 to £100,000, 000"

Comment on: Examples of Scams and Fraudulent Loan Offers and Lenders

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment on Mar 23, 2008

Today's loan fraudster (from Italy)... the same one under 4 different false names:

Cheap and Easy Loans

Hello,
Accept a low rate (3.%) personal loan for your new car, Debt Consolidation, Home improvements, family holiday, marraige purposes you name it and its yours. I offer a quick and free loan information service to fasten the application process.
E-mail me for more informations.

Yours Truly,

====================

We begamina loan company firms is currently offering out loan to customers at a low interest rate of 2%.Per Annum interest rate.
This is an opportunity you can't afford to miss it. we have good reputation in this country here in Italy,   we willing to offer you this loan.
We are one of the best loan company here in Italy,That funding can happen sooner than the expected time depending on the response speed of the clients and provision of the necessary requirements
To contact us :...

====================

This is a great opportunity for people that need loan.
This is a Loan Offer for serious business men and women who seek large or small finance to either establish to expand their business.
 
My name is Mr luciano corroller from Italy, am a private lenders here in Italy. and i offer my clients 3% my per Annum interest rate
clients.   want to assure you that i am a certified and Registered Money lender in Italy,   i am willing to offer you this loan.

Note: That funding can happen sooner than the expected time depending on the response speed of the clients and provision of the necessary requirements.
contact:...

====================

This is a Loan Offer for serious business men and women who seek large or small finance to either establish to expand their business.
 
My name is Mr steven from steven am a private lenders here in Italy. I want to assure you that i am a certified and Registered Money lender.I have a good reputation in this country here in Italy,   i am willing to offer you this loan.

The APR (Annual Percentage Rate) for the loan is an affordable 3% Per Annum interest rate.

Note: That funding can happen sooner than the expected time depending on the response speed of the clients and provision of the necessary requirements. contact:...

Comment on: Learning (or Teaching) English

Posted in W H O ~ K N E W on Mar 19, 2008... modified on Mar 19, 2008

Who doesn't need this... :)

Starting with our current President... :)

Comment on: Examples of Scams and Fraudulent Loan Offers and Lenders

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment on Mar 17, 2008

Today's bunch of fraudsters:
(thanks to W H O ~ K N E W for discovering a few of them)

==============================

"Attention:

We the management of Mr Peter White. A private Loan lender and a corporate financier for real estate and any kinds of
business financing.We offer Loans to individuals,Firms and other cooperate bodies who are in need of financial help or
assistant at a reduced interest rate.Loan terms determinant,and Capital is based between the range of $1,000 and
above,Loan for developing business a competitive edge/business expansion.
We offer the following loans category:
* Auto Loans
* Payday Loan
* Student Loan
* Mortgage Loan
* Personal Loan
* Business Loan
* Bad credit Loan
* Home equity Loan
* Debt Consolidation Loan"


==============================


"ABOUT US

Live- Media-Finance is a christian leaders financial services which was established in order to help the aim of person's who believe in jesus Christ.
In the 6-2-1989 my firm decided to setup a branch in three countries include Poland, Nigeria and Belgium, in order to help the finacial aid of people.
The year 4-2-1999 and 9-10-2003 my firm was awarded the best lending institution in England.


                         THE LOAN
Live-Media-Finance offers a loan ranging from the minimum amount of England pounds .£4,000 to the maximum of £ 8,000 )pounds.
American dollars $2,000 to the maximum amount of $8,000 000.00 .
Japanese yen(  ¥ 8,000 to the maximum of 10,000.000.00
Indian rupee(??. 10,000 to the maximum of 40,000 000.00
 
The interest rate is fixed at 3%.
 
                       OFFICE DAYS
 
Opening time mondays to fridays.( 9:00 am to 5:00 pm)
 Saturday( 9:00 am to 4:00 pm)"
 

 

================================
 

"CATHOLIC FINANCIAL INSTITUTE 
                                                       The  soluction gate.......
 
 
catholic lending institute is a group of christian organisation who decided to assist humanity in the area of loan syndications,  We offer a comprehensive assortment of loan programs to meet the various needs of our customers. Let us find the loan that's right for you!
catholic lending institute was established in August 1992by a team of catholic loan   professionals, who came together under the vision of providing more than just loan consultation to their clients, offer our clients the reassurance and support needed throughout the entire loan process, by maintaining a consistent dialog with each client. We pride ourselves on our professionalism, knowledge, dedication and ethical conduct other companies strive to obtain.
As a mortgage broker, we offer the experience and know how necessary to present complete loan applications to various lenders. We have access to a wide variety of loan programs that guarantees the most competitive rates and financing options in order to get approved with the best possible rates.
Our product line includes, but is not limited to, start up Business,construction loan,debt consolidation loan,first time homebuyer programs, home equity lines of credit, adjustable rate mortgages, fixed rate loans, bond programs, jumbo loans, and sub-prime loans.
We are committed to helping our clients at every stage of the loan process and are highly dedicated to promoting homeownership in all communities.
if you are interested in our services do contact us now.
 
God bless you all....
 
Rev fr louis carter
(MD) cathoilc Financial Incorporated (CFI)"

Comment on: Examples of Scams and Fraudulent Loan Offers

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment on Jan 2, 2008... modified on Mar 15, 2008

Here are a few more examples of fraudulent loan offers:

"Good day my Dear brothers and sisters in Christ, I am Mr Mike James, a Reputable, Legitimate & an accredited money Lender. I loan money out to individuals in need of financial assistance. Do you have a bad credit or you are in need of money to pay bills? i want to use this medium to inform you that i render reliable beneficiary assistance as I'll be glad to offer you a loan. Services Rendered include; *Refinance *Home Improvement *Auto Loans *Debt Consolidation *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans. Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. Sincerely, Mike James Managing Director, Zenith Lenders"

============================= 

"Good day my Dear brothers and sisters in Christ,
I am Mr Mike James, a Reputable, Legitimate & an accredited money Lender.
I loan money out to individuals in need of financial assistance.
Do you have a bad credit or you are in need of money to pay bills?
i want to use this medium to inform you that i render reliable beneficiary assistance as I'll be glad to offer you a loan.
Services Rendered include;
*Refinance
*Home Improvement
*Auto Loans
*Debt Consolidation
*Line of Credit
*Second Mortgage
*Business Loans
*Personal Loans
*International Loans.
Please write back if interested.
Upon Response, you'll be mailed a Loan application form to fill.
(No social security and no credit check, 100% Guaranteed!)
I Look forward permitting me to be of service to you.
Sincerely,
Mike James
Managing Director,
Zenith Lenders
"

==============================

"Goodday, We Offer Private, business Loans with very Minimal annual Interest Rates as Low as 7.5% within a 1 year to 5 years repayment duration period to any part of the world. We give out loans within the range of $1,000 to $1,000,000 USD. Have you been worried about getting a loan that cares about you, Come lets DISCUSS it for its our business to discuss about how you feel financially. Call on Mrs. Hern and Associates now, low or bad credit history, no problem. * Are you financially Squeezed? * Do you seek funds to pay off credits and debts? * Do you seek finance to set up your own business? * Do you seek loans to carry out large projects? * Do you seek funding for various other processes? If you have any of the above problems, I can be of assistance to you but I want you to understand that I give out my loans at an interest rate of 7.5%. * Borrow anything up to $ 1,000,000 USD. * Choose between 1 to 5 years to repay. * Choose between Monthly and Annual repayments Plan. * Flexible Loan Terms. Interested Persons should get back to me via email. I await your response. Regards Mrs. Marlyn Hern (Director)"

Comment on: Examples of Scams and Fraudulent Loan Offers

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment on Mar 14, 2008

Classic Nigerian scam:

"I am barrister Yusuf Azazi, Managing director(MD) netglobe financial istitution of Nigeria(NFIN)
which was established 2/5/89 in order to assist humanity in financial matters.
We give out loan to serious and minded individuals & coperate bodies who are in need of financial assistance.
Our interest rate is base on 3%
We transfer Money world wide with clear and understandable term.
If  interested, do contact us.

Thanks and God bless you.
Regards
Mr Yusuf Azazi
MD NETGLOBE FINANCIAL INSTITUTION OF NIGERIA
St herbert street Abuja, Nigeria"

Comment on: Examples of Scams and Fraudulent Loan Offers

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment on Mar 11, 2008

Yet another scammer from today... or may be the same:

"Dear Prospective Client,
Maxleonard Financial Institute Inc. is a registered loan firm. Which have been authorised  by the Lenders Council to give out loans to individuals and co-operate bodies .
Our loans are charged at 5% (five percent) interest rate for a period of one (1) year.Our loan have been repositioned to meet our clients's day to day demands. We have been able, through our funding financed small and large scale projects all over Europe and America.
At Maxleonard, we do not worry about your Triple 'A' before granting the loan. We only try as much as we can to make sure that you achieve your financial freedom.
We do not care if you have been turned down by your bank. We only care about you and that's why we are here to give you your financial freedom. Do get back to us for your legitimate loan now.
Do get back to us as soon as possible with your decision so that we can proceed towards funding your loan. We hope you find our services attractive and flexible as we only care about your financial freedom and status.
Send your questions and concerns to us via reply. We will be waiting to hear from you soonest.
Regards,
Maxwell Leonard
Maxleonard Financial Institute Inc.
If  you are interested in sercuring a loan from our company, you will be required to fill the following details below which will enable us  prepare the loan rate and repayment schedule.
And our Attorney to prepare the Deed of Agreement that will bind this transaction between you the borrower and our company.
Title:
First Name:
Last Name:
Surname:
House Number:
Street Name:
City:
State:
Country:
Gender:
Telephone Number:
Social Security Number:
Occupation:
Date of  Birth (DD/MM/YY):
Loan Amount:
Loan Duration:
Purpose of Loan:
Maxleonard Financial Institute Inc."
Comment on: Examples of Scams and Fraudulent Loan Offers

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment on Mar 11, 2008

Here is one more scammer from today:

"HELLO CUSTOMERS,
    Here is an opportunity for you to secure a loan for your business and pay off your bill,we are the best in the world,will give all our customers the best offer you can’t get elsewere.You can secure your loan just in 3days fast,reliable and safe.
Trust is our guarantee,just take a walk or email LUCK AND SON LOAN FINANCE for your guarantee loan offer,at 3% rate with a maximum of TEN YEARS,a minimum amount of $2000USD/POUNDS to maximum amount of $1.5millionUSD/POUNDS come for your loan now.Email:...
        CUSTOMER  PROFILE
NAME
YOUR CREDIT WORTH
AGE
GHELLO CUSTOMERS,
    Here is an opportunity for you to secure a loan for your business and pay off your bill,we are the best in the world,will give all our customers the best offer you can’t get elsewere.You can secure your loan just in 3days fast,reliable and safe.
Trust is our guarantee,just take a walk or email LUCK AND SON LOAN FINANCE for your guarantee loan offer,at 3% rate with a maximum of TEN YEARS,a minimum amount of $2000USD/POUNDS to maximum amount of $1.5millionUSD/POUNDS come for your loan now.Email:...
        CUSTOMER  PROFILE
NAME
YOUR CREDIT WORTH
AGE
GENDER
LOAN AMOUNT
LOAN DURATION
ZIP CODE
CITY
HOME ADDRESS
COUNTRY
PHONE NO
Best regards
LUCK ASLEY
      MD/CEO
SECRETARY
MR SAMSON
ENDER
LOAN AMOUNT
LOAN DURATION
ZIP CODE
CITY
HOME ADDRESS
COUNTRY
PHONE NO
Best regards
LUCK ASLEY
      MD/CEO
SECRETARY
MR SAMSON"

Comment on: Examples of Scams and Fraudulent Loan Offers

Posted in Report Spam, Scam, Fraud, Obscenity, Harassment on Mar 11, 2008

Here is another loan scammer:

"Hello I am Mark Clinton by name, the M D of Mark loans Venture , i am a Reputable, Legitimate & an accredited money Lender.I give out loans to individuals and companies in need of financial assistance.Do you have a bad credit or are you in need of money to pay bills? You can use this medium to solve all your problems as i render reliable beneficiary assistance and will be glad to offer you a loan at 2% interest rate. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *House Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You reach us via e-mail:..."

Our Angels

Posted in Emil on Mar 3, 2008

Yes, we do have angels on Aidpage. That's how we call the people who do the helping on Aidpage. I think Elaine of TSA came up with the term "angels" (please, correct me if I am wrong).
 
Anyway, we observe roughly two levels of "angel" presence on Aidpage:

  1. Spontaneous one-time posting by "passers by" - done by the kind of good willing people who would personally help a stranger without much ado and then would simply go their way without ever returning.
  2. Regular posting on multiple pages and topics for many months or even years - now, we are talking super angels here.

The first thing a needy person needs is personal attention - as simple as that. And still, it is the hardest thing to get from an institution or even a busy social worker.
 
So, dear reader of this post - you can be an angel too. Browse Aidpage and read a few posts. Then reply (in a helpful way!) to one or two of them - and voilà, you've become a small "angel" in someone's life. Welcome to Aidpage!

Comment on: HUD Reverse Mortgage. Tax-free Income. 62 and Older

Posted in Reverse Mortgage on Mar 1, 2008... modified on Mar 1, 2008

Read this article in The New York Times about reverse mortgages. Here is some of it:

"A reverse mortgage, the saleswoman explained, would give Ms. Baker instant access to hundreds of thousands of dollars tied up in the value of her home. Such a loan, typically available only to homeowners in their 60s and older, would not have to be repaid until Ms. Baker moved out, the saleswoman said.

And if she never moved, the loan would be settled by selling her house after she died. “Your Home Pays You Cash!” read a brochure the saleswoman left behind.

Ms. Baker, who lives just outside San Diego, jumped at the offer, borrowing a little more than $200,000 through a company called Senior American Funding.

Then the problems began..."

Read the full article...

Foreclosure... Or Not: A New Way of Looking at Your Home and Your Mortgage

Posted in Housing Grants on Feb 28, 2008

Interesting article in the New York Times:

"When Raymond Zulueta went into default on his mortgage last year, he did what a lot of people do. He worried.

In a declining housing market, he owed more than the house was worth, and his mortgage payments, even on an interest-only loan, had shot up to $2,600, more than he could afford. "I was terrified," said Mr. Zulueta, who services automated teller machines for an armored car company in the San Francisco area.

Then in January he learned about a new company in San Diego called You Walk Away that does just what its name says. For $995, it helps people walk away from their homes, ceding them to the banks in foreclosure.

Last week he moved into a three-bedroom rental home for $1,200 a month, less than half the cost of his mortgage. The old house is now the lender's problem. "They took the negativity out of my life," Mr. Zulueta said of You Walk Away. "I was stressing over nothing."

You Walk Away is a small sign of broad changes in the way many Americans look at housing. In an era in which new types of loans allowed many home buyers to move in with little or no down payment, and to cash out any equity by refinancing, the meaning of homeownership and foreclosure have changed, economists and housing experts say..."

Full article: Facing Default, Some Walk Out on New Homes

See also: http://www.youwalkaway.com/

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