March 17, 2009

Beware of Scammers

Posted to Brad Sears

The government is warning homeowners to be aware of scammers making money from President Obama’s foreclosure prevention plan. Apparently, many homeowners in need of help from this plan have filed complaints that they were contacted by firms promising to quickly and efficiently negotiate with banks on their behalf to avoid foreclosure. They asked for upfront fees of $1000 or more and didn’t deliver.

There are non-profit agencies partnering with the Federal Government offering free counseling for families needing to take advantage of the foreclosure prevention plan. You can find them here.

Source: http://www.realtor.org/rmodaily.nsf/pages/News2009031601.

Today’s interest rates:

Conforming Fixed 30 year rate: 5.25%
Conforming Fixed 15 year rate: 4.75%
Conforming 5 year ARM: 4.875%
FHA Fixed 30 year rate: 5%
FHA Fixed 15 year rate: 4.75%
FHA 5 year ARM: 5.625%

Posted By: Brad Sears


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