Monday, February 25, 2008

Mortgage Debt Elimination Schemes

Be aware of emails or web-based advertisements that promote the elimination of mortgage loans, credit card, and other debts while requesting an up-front fee to prepare documents to satisfy the debt. The documents are typically entitled "Declaration of Voidance", "Bond for Discharge of Debt", "Bill of Exchange", "Due Bill", "Redemption Certificate", or other similar variations. These documents DO NOT achieve what they purport.

There is NO magic cure-all to relieve you of your debts you incurred.

Borrowers may end up paying thousands of dollars in fees without elimination or reduction of any debt.

Check the licenses of the professional with State, County or City regulatory agencies.

1 comment:

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