Welcome to Home Mortgage
Florida Refinance Home Mortgage Article
This is a selection made from among articles on Florida Refinance Home Mortgage. For a permanent link to this article, or to bookmark it for future reading, click here.
Steven and the Credit Collection Agency Grinch
from: Wayne Patterson
Why you should beware the credit collection agency bearing gifts.
Many years ago I graduated from college with Steven. We weren’t really close but have managed to keep in touch. Steven did extremely well through the hi-flying eighties. However the nineties brought a divorce, no job, and creditors knocking at the door. He managed to avoid bankruptcy and eventually paid most of his debts. However, there were several credit cards still with balances. The companies hounded him for several months but eventually wrote off the accounts without filing suit.
Fast forward to 2003. Seven years have passed and Steven’s credit report is now clear. He has remarried and applies for a home loan. Within days he receives a letter from a collection agency requesting payment of these old debts. The letter warns Steven that these old debts could prevent him from obtaining the mortgage. They want to "help" him and promise not to sue if he agrees to a payment plan. They even offer to "forgive" all interest and late charges.
Steven, fearful of a court case that could ruin his new life, accepts their offer and starts making payments. The credit collection scumbags have won again. They won because Steven did not know his rights. If you think scumbags is too strong a word then consider the facts that they conveniently forgot to mention.
They neglected to mention that they did not represent the original creditors. The collection agency buys these old accounts for pennies on the dollar. They didn’t tell Steven that they could not take him to court and that these old accounts would have no effect on the home mortgage. They didn’t mention that the statue of limitations had expired and that Steven did not legally owe anything. With one exception! If, if they could persuade Steven to make a small payment or otherwise acknowledge the debt then the SOL would not apply.
While not strictly illegal, this scheme is a form of misrepresentation. Using harassment as a form of psychological intimidation, these scumbags make their living by terrorizing consumers into paying debts that they do not owe. In many case there is a legitimate dispute but the consumer will pay just to get rid of the insistent phone calls at home and work. Phone calls that are often in violation of Federal Law.
There is a saying that if you do not know your rights then you do not have any. If you receive a letter of telephone call from a collection agency, your first step should be to find out your rights. The American Bar Association says: "The best way for the majority of Americans to be able to assure themselves of legal assistance when they need it... is through a prepaid legal plan." To find out more about your rights visit
http://www.prepaidlegal.com/info/carolynpatterson
If you need to contact the credit reporting agencies to order your credit report or if you need to learn about the Fair Debt Collection Practices Act then visit
http://www.solidgoldhomebusiness.com/credit-report.html
Don’t be intimidated. Stand up and demand your rights. There is help.
About the Author
Wayne Patterson is the author of "Solidgoldmonthly" home business newsletter. Home business news and views that you can use. No scams allowed! Subscribe now to receive FREE book of eBay Marketing Secrets, sold on other sites for $27.00.
Florida Refinance Home Mortgage News
TexasLending.com to Discuss Changes to FHA Loans on Radio KLIF in Dallas
TexasLending.com to Discuss Changes to FHA Loans on Radio KLIF in Dallas Kevin Miller, CEO and president of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas home equity loans, and his co-hosts will discuss the upcoming changes to FHA on June 1st which will impact the ability to refinance FHA loans to more favorable terms. Listen in each ...
Read more...3 Consecutive Quarters of Mortgage Employment Growth
DALLAS, May 21, 2012 /PRNewswire/ --Â Mortgage industry staffing has expanded each of the past three quarters, according to the First-Quarter 2012 Mortgage Employment Index from Mortgage Daily.Hirings outpaced ...
Read more...Fifth Third Mortgage Company to Help Consumers through Enhanced Home Affordability Refinance Program (HARP 2.0)
Fifth Third Mortgage Company, a subsidiary of Fifth Third Bank, and the 14th largest originator in the country announces its involvement in the government’s recent enhancements to the Home Affordability Refinance Program .
Read more...Mortgage consultant Richard Faust returns ‘home’ to Wells Fargo
Mortgage consultant Richard Faust has returned to the company that he calls home. He is once again a member of the Wells Fargo team, securing financing for clients who want to obtain a mortgage and shopping for the best rates to ensure the most affordable payments.
Read more...TexasLending.com Discusses Lowest Mortgage Rates in History on Radio KLIF in Dallas
TexasLending.com Discusses Lowest Mortgage Rates in History on Radio KLIF in Dallas Kevin Miller, CEO and president of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas home equity loans, and his co-hosts discussed the lowest mortgage rates in history on The TexasLending.com Mortgage Hour. Listen in each week as the CEO of TexasLending.com ...
Read more...Refinancing Jumps Under HARP 2.0
Applications for mortgage refinancing have seen a sharp increase since new, relaxed guidelines for the Home Affordable Refinance Program (HARP) were unveiled last fall, the White House announced
Read more...