Tips on how to stay away from illicit mortgage relief firms

• During recession you will come across companies proclaiming themselves as mortgage consultants or foreclosure services with the promise of saving your credit or pay up your closing costs. Just stay away from them!!
• Mails from your lender should not be ignored and please, please stay in touch with him or her even after foreclosure notice has been filed.
• In case you are facing problems then a better option would be to negotiate a new loan arrangement with your lender before seeking the help of experts.
• In whatever situation don’t transfer your property deed or title to a rescue firm.
• Never get into the trap which promises loan modification approval within a matter of week or two since as per the norm a minimum of thirty days are required for consideration of loan modification application.

Just keep these tips in mind and you would be safe!!

We can only hire immediate families of our employees at the moment!!

With recession at an all time high, the coffers of most of the blue chips companies is empty and what all they can do is hire their immediate families of their employees as they wont cost a bomb. The irony is that the foolish top management had a good time at the cost of the company hence leading to one of the worst financial crisis of the globe which has lead to suffering of hundreds and thousands of families around the world!!

source

A 100% Ban on UK Mortgages?

Recession is slowly and steadily pouncing on each and every nation around the globe and with no sign of economy picking UK is likely to impose a blanket ban on mortgages in the country

This seems very likely as the PM intends to save the banking system of the country which is already bleeding under the effect of recession, thanks to some senseless steps taken by them to up the business. (Greed has got no dimensions I must say)

Also the country is expected to announce a 500 billion pound bailout package soon which would surely cause a pinch to the taxpayers in these harsh times so a ban on mortgage makes sense at the moment. Dear Prime Minister in these bad times don’t expect people to even cast a look at mortgages as you wont find any takers for it J

My take:

In the good times we tend to forget that it never lasts forever and we only tend to realize when the ship leaves the port. So true when we talk about human nature!!