Hello America
I'm writing today to issue yet another "warning" to you ....................
Today's warning is regarding another breed of predator / scam artist -
The "debt consolidation" companies.............. I never cease to marvel at what new ways these bottom feeders can contrive to extract money from consumers, and do so seemingly without care, concern not conscious ..
For the record, there are LEGITIMATE debt consolidation firms that genuinely do the job they've been hired to do, and help their clients but I'm not discussing them today .. Today I'm focusing on the ones that call consumers in need, create fictitious "payment plans" and then start deducting money from the client's bank account each month alleging it's going into a "savings / escrow" account which will then be used to pay creditors ... BULL!
These companies claim to be "saving" money for you and once they get enough to offer a settlement to your creditors, will pay it off ...What they DON'T tell you is that they are deducting their fees (monthly) from this alleged "savings" account and that they are making little to no effort to establish communication with your creditors!
Pay attention now ....Let's say you owe XYZ bank $10,000.00 on a credit card and that the "debt consolidation" company is deducting $250.00 a month from your bank account to transfer to the "savings / escrow" account they (or an affiliate bank of theirs) has allegedly established for you .. To pay the $10,000.00 in full it will take over 3 full years of "saving" ...Now let's say they are planning to offer XYZ bank a 50% settlement ...at $225.00 (deducting $25.00 for their service fee) it's going to take 1.85 YEARS to "save" the $5k!! Do you honestly believe XYZ bank is just going to sit there for 2 years with no payment, and do nothing???? Of course not! Odds are very good that XYZ bank will charge off your account within 4 months, and send you to collections, and then most likely SUE you! The "Debt consolidation" company that's been taking your money can DO NOTHING to stop and / or protect you from XYZ bank, and odds are even better, XYZ bank has never even heard of or from the company you hired to help you!!
Bottom line? You're basically "screwed" and have no legal leg to stand on!! - DON'T FALL FOR THESE SCAMS and / or HIRE THESE THIEVES!
Let's now move on to the "Credit Repair" companies that operate much in the same manner as the debt consolidation companies discussed above ....
They charge you a "down payment" fee and then a recurring monthly fee until the job is done ..I've seen some of these go on over a year!! I have been helping people fix their damaged credit for YEARS and I have NEVER seen it take longer than a couple of months!
Ok..so now you've been "warned" and know what to watch out for .... Debt consolidation / Credit repair are BOTH legitimate industries when handled by honest, credentialed professionals so don't assume it's all a scam - it's not
Do your homework before hiring anyone / company ..Don't rely solely on a BBB report as it may not reflect EVERYTHING you absolutely need to know...Call your State's Attorney General, Call the Federal Trade Commission, investigate licensing, etc ..
It's your money, and future! Protect it!
Until next time....God Bless
Edward J.Benko, Owner / CEO
Genesis Credit Solutions, Inc.
License # MB100019240
303-745-7003 Office
800-364-1939 Toll Free Voice / Fax
www.GenesisCreditSolutions.net
http://www.noscamshere.com/TheFactsofLoanModification.html
Saturday, July 10, 2010
Wednesday, July 7, 2010
Foreclosure Prevention / Loan Modification Facts and Fiction
Today I'm writing on a subject I know a great deal about ... Foreclosure prevention and loan modification ..
First off, the programs created by the Government are (in my professional opinion) junk! Statistically, fed programs have a National failure rate of over 88%! It boggles my mind that our elected officials in Washington create / continue pursuing such garbage but...they do - So please don't rely solely on the Feds and / or think their programs are the only ones available
Everyone needs to understand that there are no "magic wands" when it comes to loan modification / foreclosure prevention ..It's all about business, and what makes sound financial sense for both lender and homeowner - Don't be misled by these scam artists 1 - 2% interest rates and / or claiming to be "attorney backed" ...I've been doing this along time, helped many hundreds of homeowners Nationwide and NOT ONCE have I ever had need for an attorney - So don't buy into that nonsense unless of course you have a legitimate, solid case to fight / defend against the banks .. Anything else will prove an expensive lesson in futility -
Also beware of the "snake oil" salesman ...You know the type, smooth talking with the "to good to be true" offer ... Use your heads, and trust your instincts! If it sounds to good or shady, RUN!
Foreclosure is stressful but don't ever let that stress over ride your intellect - When these people call, challenge them! Ask questions! Request documented evidence of their credentials, experience, success ratio's etc...Don't just take their word for it and certainly don't be misled into a false sense of security by a BBB (Better Business Bureau) rating! The BBB is NOT a regulatory, licensing or legal enforcement agency...
Dig deeper before shelling out your hard earned money!
I don't care what anyone says ...not just anyone can modify a loan successfully ...it's a complicated, complex procedure that requires a sound working knowledge of the mortgage banking / lending industry ...Trusting it to just anyone is just plain dumb and will most likely cost you your home ...
This all being said, let me also state that "expensive" doesn't always define better ... it does not cost thousands of dollars for professional modification help ..I've been doing it successfully for years and have never charged over $800.00 ...Granted, the service we provide is valuable, and we are skilled, degreed, credentialed professionals but that doesn't give us a license to steal ...
It all breaks down to knowing what you're doing, and getting the job done correctly, and as quickly as humanly possible ...
Don't fall for the fairy tales ... If you need professional help, hire a REAL professional ..very simple
Feel free to contact me should you have any questions ..I'm always happy to help
Thanks for listening
Edward J.Benko, Owner / CEO
Genesis Credit Solutions, Inc.
CO. License # MB100019240
303-745-7003 Office
720-334-2994 Cell
800-364-1939 Toll Free Voice / Fax
http://www.genesiscreditsolutions.net/
www.noscamshere.com/TheFactsofLoanModification.html
First off, the programs created by the Government are (in my professional opinion) junk! Statistically, fed programs have a National failure rate of over 88%! It boggles my mind that our elected officials in Washington create / continue pursuing such garbage but...they do - So please don't rely solely on the Feds and / or think their programs are the only ones available
Everyone needs to understand that there are no "magic wands" when it comes to loan modification / foreclosure prevention ..It's all about business, and what makes sound financial sense for both lender and homeowner - Don't be misled by these scam artists 1 - 2% interest rates and / or claiming to be "attorney backed" ...I've been doing this along time, helped many hundreds of homeowners Nationwide and NOT ONCE have I ever had need for an attorney - So don't buy into that nonsense unless of course you have a legitimate, solid case to fight / defend against the banks .. Anything else will prove an expensive lesson in futility -
Also beware of the "snake oil" salesman ...You know the type, smooth talking with the "to good to be true" offer ... Use your heads, and trust your instincts! If it sounds to good or shady, RUN!
Foreclosure is stressful but don't ever let that stress over ride your intellect - When these people call, challenge them! Ask questions! Request documented evidence of their credentials, experience, success ratio's etc...Don't just take their word for it and certainly don't be misled into a false sense of security by a BBB (Better Business Bureau) rating! The BBB is NOT a regulatory, licensing or legal enforcement agency...
Dig deeper before shelling out your hard earned money!
I don't care what anyone says ...not just anyone can modify a loan successfully ...it's a complicated, complex procedure that requires a sound working knowledge of the mortgage banking / lending industry ...Trusting it to just anyone is just plain dumb and will most likely cost you your home ...
This all being said, let me also state that "expensive" doesn't always define better ... it does not cost thousands of dollars for professional modification help ..I've been doing it successfully for years and have never charged over $800.00 ...Granted, the service we provide is valuable, and we are skilled, degreed, credentialed professionals but that doesn't give us a license to steal ...
It all breaks down to knowing what you're doing, and getting the job done correctly, and as quickly as humanly possible ...
Don't fall for the fairy tales ... If you need professional help, hire a REAL professional ..very simple
Feel free to contact me should you have any questions ..I'm always happy to help
Thanks for listening
Edward J.Benko, Owner / CEO
Genesis Credit Solutions, Inc.
CO. License # MB100019240
303-745-7003 Office
720-334-2994 Cell
800-364-1939 Toll Free Voice / Fax
http://www.genesiscreditsolutions.net/
www.noscamshere.com/TheFactsofLoanModification.html
Sunday, July 4, 2010
Happy 4th of July
When, in the course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the laws of nature and of nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness.
That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness. Prudence, indeed, will dictate that governments long established should not be changed for light and transient causes; and accordingly all experience hath shown that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same object evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security. --Such has been the patient sufferance of these colonies; and such is now the necessity which constrains them to alter their former systems of government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute tyranny over these states.
To prove this, let facts be submitted to a candid world.
He has refused his assent to laws, the most wholesome and necessary for the public good.
He has forbidden his governors to pass laws of immediate and pressing importance, unless suspended in their operation till his assent should be obtained; and when so suspended, he has utterly neglected to attend to them.
He has refused to pass other laws for the accommodation of large districts of people, unless those people would relinquish the right of representation in the legislature, a right inestimable to them and formidable to tyrants only.
He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their public records, for the sole purpose of fatiguing them into compliance with his measures.
He has dissolved representative houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.
He has refused for a long time, after such dissolutions, to cause others to be elected; whereby the legislative powers, incapable of annihilation, have returned to the people at large for their exercise; the state remaining in the meantime exposed to all the dangers of invasion from without, and convulsions within.
He has endeavored to prevent the population of these states; for that purpose obstructing the laws for naturalization of foreigners; refusing to pass others to encourage their migration hither, and raising the conditions of new appropriations of lands.
He has obstructed the administration of justice, by refusing his assent to laws for establishing judiciary powers.
He has made judges dependent on his will alone, for the tenure of their offices, and the amount and payment of their salaries.
He has erected a multitude of new offices, and sent hither swarms of officers to harass our people, and eat out their substance.
He has kept among us, in times of peace, standing armies without the consent of our legislature.
He has affected to render the military independent of and superior to civil power.
He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his assent to their acts of pretended legislation:
For quartering large bodies of armed troops among us:
For protecting them, by mock trial, from punishment for any murders which they should commit on the inhabitants of these states:
For cutting off our trade with all parts of the world:
For imposing taxes on us without our consent:
For depriving us in many cases, of the benefits of trial by jury:
For transporting us beyond seas to be tried for pretended offenses:
For abolishing the free system of English laws in a neighboring province, establishing therein an arbitrary government, and enlarging its boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule in these colonies:
For taking away our charters, abolishing our most valuable laws, and altering fundamentally the forms of our governments:
For suspending our own legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.
He has abdicated government here, by declaring us out of his protection and waging war against us.
He has plundered our seas, ravaged our coasts, burned our towns, and destroyed the lives of our people.
He is at this time transporting large armies of foreign mercenaries to complete the works of death, desolation and tyranny, already begun with circumstances of cruelty and perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the head of a civilized nation.
He has constrained our fellow citizens taken captive on the high seas to bear arms against their country, to become the executioners of their friends and brethren, or to fall themselves by their hands.
He has excited domestic insurrections amongst us, and has endeavored to bring on the inhabitants of our frontiers, the merciless Indian savages, whose known rule of warfare, is undistinguished destruction of all ages, sexes and conditions.
In every stage of these oppressions we have petitioned for redress in the most humble terms: our repeated petitions have been answered only by repeated injury. A prince, whose character is thus marked by every act which may define a tyrant, is unfit to be the ruler of a free people.
Nor have we been wanting in attention to our British brethren.
We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which, would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our separation, and hold them, as we hold the rest of mankind, enemies in war, in peace friends.
We, therefore, the representatives of the United States of America, in General Congress, assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the name, and by the authority of the good people of these colonies, solemnly publish and declare, that these united colonies are, and of right ought to be free and independent states; that they are absolved from all allegiance to the British Crown, and that all political connection between them and the state of Great Britain, is and ought to be totally dissolved; and that as free and independent states, they have full power to levy war, conclude peace, contract alliances, establish commerce, and to do all other acts and things which independent states may of right do. And for the support of this declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.
New Hampshire: Josiah Bartlett, William Whipple, Matthew Thornton
Massachusetts: John Hancock, Samual Adams, John Adams, Robert Treat Paine, Elbridge Gerry
Rhode Island: Stephen Hopkins, William Ellery
Connecticut: Roger Sherman, Samuel Huntington, William Williams, Oliver Wolcott
New York: William Floyd, Philip Livingston, Francis Lewis, Lewis Morris
New Jersey: Richard Stockton, John Witherspoon, Francis Hopkinson, John Hart, Abraham Clark
Pennsylvania: Robert Morris, Benjamin Rush, Benjamin Franklin, John Morton, George Clymer, James Smith, George Taylor, James Wilson, George Ross
Delaware: Caesar Rodney, George Read, Thomas McKean
Maryland: Samuel Chase, William Paca, Thomas Stone, Charles Carroll of Carrollton
Virginia: George Wythe, Richard Henry Lee, Thomas Jefferson, Benjamin Harrison, Thomas Nelson, Jr., Francis Lightfoot Lee, Carter Braxton
North Carolina: William Hooper, Joseph Hewes, John Penn
South Carolina: Edward Rutledge, Thomas Heyward, Jr., Thomas Lynch, Jr., Arthur Middleton
Georgia: Button Gwinnett, Lyman Hall, George Walton
Source: The Pennsylvania Packet, July 8, 1776
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness.
That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness. Prudence, indeed, will dictate that governments long established should not be changed for light and transient causes; and accordingly all experience hath shown that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same object evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security. --Such has been the patient sufferance of these colonies; and such is now the necessity which constrains them to alter their former systems of government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute tyranny over these states.
To prove this, let facts be submitted to a candid world.
He has refused his assent to laws, the most wholesome and necessary for the public good.
He has forbidden his governors to pass laws of immediate and pressing importance, unless suspended in their operation till his assent should be obtained; and when so suspended, he has utterly neglected to attend to them.
He has refused to pass other laws for the accommodation of large districts of people, unless those people would relinquish the right of representation in the legislature, a right inestimable to them and formidable to tyrants only.
He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their public records, for the sole purpose of fatiguing them into compliance with his measures.
He has dissolved representative houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.
He has refused for a long time, after such dissolutions, to cause others to be elected; whereby the legislative powers, incapable of annihilation, have returned to the people at large for their exercise; the state remaining in the meantime exposed to all the dangers of invasion from without, and convulsions within.
He has endeavored to prevent the population of these states; for that purpose obstructing the laws for naturalization of foreigners; refusing to pass others to encourage their migration hither, and raising the conditions of new appropriations of lands.
He has obstructed the administration of justice, by refusing his assent to laws for establishing judiciary powers.
He has made judges dependent on his will alone, for the tenure of their offices, and the amount and payment of their salaries.
He has erected a multitude of new offices, and sent hither swarms of officers to harass our people, and eat out their substance.
He has kept among us, in times of peace, standing armies without the consent of our legislature.
He has affected to render the military independent of and superior to civil power.
He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his assent to their acts of pretended legislation:
For quartering large bodies of armed troops among us:
For protecting them, by mock trial, from punishment for any murders which they should commit on the inhabitants of these states:
For cutting off our trade with all parts of the world:
For imposing taxes on us without our consent:
For depriving us in many cases, of the benefits of trial by jury:
For transporting us beyond seas to be tried for pretended offenses:
For abolishing the free system of English laws in a neighboring province, establishing therein an arbitrary government, and enlarging its boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule in these colonies:
For taking away our charters, abolishing our most valuable laws, and altering fundamentally the forms of our governments:
For suspending our own legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.
He has abdicated government here, by declaring us out of his protection and waging war against us.
He has plundered our seas, ravaged our coasts, burned our towns, and destroyed the lives of our people.
He is at this time transporting large armies of foreign mercenaries to complete the works of death, desolation and tyranny, already begun with circumstances of cruelty and perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the head of a civilized nation.
He has constrained our fellow citizens taken captive on the high seas to bear arms against their country, to become the executioners of their friends and brethren, or to fall themselves by their hands.
He has excited domestic insurrections amongst us, and has endeavored to bring on the inhabitants of our frontiers, the merciless Indian savages, whose known rule of warfare, is undistinguished destruction of all ages, sexes and conditions.
In every stage of these oppressions we have petitioned for redress in the most humble terms: our repeated petitions have been answered only by repeated injury. A prince, whose character is thus marked by every act which may define a tyrant, is unfit to be the ruler of a free people.
Nor have we been wanting in attention to our British brethren.
We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which, would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our separation, and hold them, as we hold the rest of mankind, enemies in war, in peace friends.
We, therefore, the representatives of the United States of America, in General Congress, assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the name, and by the authority of the good people of these colonies, solemnly publish and declare, that these united colonies are, and of right ought to be free and independent states; that they are absolved from all allegiance to the British Crown, and that all political connection between them and the state of Great Britain, is and ought to be totally dissolved; and that as free and independent states, they have full power to levy war, conclude peace, contract alliances, establish commerce, and to do all other acts and things which independent states may of right do. And for the support of this declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.
New Hampshire: Josiah Bartlett, William Whipple, Matthew Thornton
Massachusetts: John Hancock, Samual Adams, John Adams, Robert Treat Paine, Elbridge Gerry
Rhode Island: Stephen Hopkins, William Ellery
Connecticut: Roger Sherman, Samuel Huntington, William Williams, Oliver Wolcott
New York: William Floyd, Philip Livingston, Francis Lewis, Lewis Morris
New Jersey: Richard Stockton, John Witherspoon, Francis Hopkinson, John Hart, Abraham Clark
Pennsylvania: Robert Morris, Benjamin Rush, Benjamin Franklin, John Morton, George Clymer, James Smith, George Taylor, James Wilson, George Ross
Delaware: Caesar Rodney, George Read, Thomas McKean
Maryland: Samuel Chase, William Paca, Thomas Stone, Charles Carroll of Carrollton
Virginia: George Wythe, Richard Henry Lee, Thomas Jefferson, Benjamin Harrison, Thomas Nelson, Jr., Francis Lightfoot Lee, Carter Braxton
North Carolina: William Hooper, Joseph Hewes, John Penn
South Carolina: Edward Rutledge, Thomas Heyward, Jr., Thomas Lynch, Jr., Arthur Middleton
Georgia: Button Gwinnett, Lyman Hall, George Walton
Source: The Pennsylvania Packet, July 8, 1776
No "Spam" here
Recently, my blog was "flagged" by Google as alleged "spam" ....Not sure how that happened but I think it may be due to my posting information from my website(s)
Please accept my sincerest apologies ...I never intended to and am not a "spammer"
Have a safe 4th of July
Ed
Please accept my sincerest apologies ...I never intended to and am not a "spammer"
Have a safe 4th of July
Ed
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