March 29, 2007
Mortgage elimination' scam leaves many without a roof over their
NEWBEDFORD — On the face of it, there was nothing too unusual about theforeclosure auction conducted on a dismal morning last week in front of159 North St. in a neighborhood a little down on its luck.
Withwell-dressed people reading proclamations aloud and waiting for biddersto declare themselves, the scene mirrored countless others across thecountry. Borrowers in a once-booming housing market suddenly find itimpossible to keep up with the payments. Financing deals that onceseemed sweet become sour when interest increass on adjustable mortgagesdrive payments through the roof.
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'Mortgage elimination' scam leaves many without a roof over their … - SouthCoastToday.com
| 'Mortgage elimination' scam leaves many without a roof over their … SouthCoastToday.com, MA - It's also a cautionary tale of what can happen when one who is swimming in debt goes looking for a way out of it and instead gets snared in the tentacles of … |
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