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Another Mortgage Scam Alert… Beware!
Posted: 12 August 2007 03:08 AM   [ Ignore ]
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There is a Mortgage Scam that is trying to sweep the nation.  Check out the information on this Below.  There are been two articles in the Washington Post regarding this “Ponzi” Scheme.  Everyone should be aware of this so they don’t fall prey.

1st Article in the Post
http://www.washingtonpost.com/wp-dyn/content/article/2007/08/04/AR2007080400109.html

Follow up article
http://www.washingtonpost.com/wp-dyn/content/article/2007/08/11/AR2007081100105.html

Discussion on Scam.com forum website
http://www.scam.com/showthread.php?t=27360

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Posted: 12 August 2007 04:15 AM   [ Ignore ]   [ # 1 ]
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Pyramid-scam?

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Posted: 12 August 2007 10:33 PM   [ Ignore ]   [ # 2 ]
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Yes, another one!

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Posted: 12 August 2007 10:39 PM   [ Ignore ]   [ # 3 ]
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I guess there will always be people looking for fast, or “free” money. Just like there will always be people who have the guile and charm to talk them into thinking they can provide it.

It really does end up being a great deal for the first people into the system, those afterwards… well…

After reading both articles, the biggest surprise is that the mortgages and loans are approved. Of course the banks always have the homeowners to go after, and nobody ever accused a bank of being a “moral corporate citizen”.

Thanks for the warning though, hopefully you’ll help someone who would have otherwise fallen into the trap.

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Today is the day you worried about yesterday, and all is well…Except that the well is dry, the toilet is overflowing and a flock of meese just pooped in your back yard…

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