Learn more about the free services offered with our Foreclosure Prevention Program!
Click here for tips on how to avoid home foreclosure!
If you are a resident of Cambridge, Somerville, Arlington, Watertown, or Belmont and are . . .
1. Having trouble paying your mortgage or are behind in payments,
To schedule an appointment with a foreclosure prevention counselor or to learn more about out program, call Beya at (617) 868-4858 x200.
Click here to read testimonials of past Foreclosure Prevention clients!
Read our latest Foreclosure Prevention Newsletter here!
Predatory Lending is . . .
…dishonest lending. Predatory loans harm borrowers by making it difficult or impossible for them to keep up with payments. Borrowers may pay unnecessary fees and excessive interest charges. If they miss their payments, they risk losing their home. Borrowers who do not meet minimum credit standards usually do pay higher interest rates, but no one should be a victim of price gouging and outrageous fees.
…a type of lending that falls between appropriate risk-based pricing and blatant fraud and combines certain products, terms, prices, and practices. In the strictest and legal sense, predatory lending refers to secured loans such as home or car loans that are made by the lender with the intention that the borrower will not repay the loan, allowing the lender to seize the car or home and sell it for a profit. Informally the term has been expanded to refer to the practice of convincing borrowers to agree to unfair and abusive loan terms.... few lenders also abuse the system. Predatory lenders prey on people who are unfamiliar with bank loans. They trick people into paying unnecessary fees and high interest rates. Victims of predatory lending are usually low to middle income families who face the loss of their home through foreclosure.
…a type of lending that relies on risk-based pricing to serve borrowers who cannot obtain credit in the prime market, where higher degrees of risk for borrowers carry higher costs for loans. Subprime loans are often called “A through D” credits
Beware Loan Modification Scams!
Loan modifications scams are changing every day. Read descriptions or watch a video of some of the most common scams to avoid. We offer free legitimate loan modifications. Call our office at (617) 868-4858 if you have trouble paying your mortgage, need assistance with a loan modification or have received a scam modification letter.