Mortgage servicing fraud companies target the sub-prime borrowers. They are most likely to fall behind in paying and these companies take advantage of this situation.
Their customers are not the borrowers but the lenders. They know your financial status and bank upon it. Your fear of losing the home opens up all information to them. They fabricate the default and that is the first step to your losing your property. _________________ Regards,
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.