mortgage

In memory of Wayne Strang

I found out through a list message this evening that Wayne Strang passed away today. 

Mortgage Victims Assistance: "Serious about cashing in on the Mortgage Modification Market?"

Lately I've seen many articles about mortgage modification scams.   Since my spam is filtered before I ever get to see it, I thought the mail below was "real", especially since it looks like a response to an email. 

To my surprise, it encourages me to CASH IN on the mortgage modification market:

FNMA screws delinquent home owners AGAIN through hardship modifications

I've been around the block a couple times, so I didn't actually have to read the FNMA news release about hardship modifications to know that it will PRIMARILY benefit Fannie Mae.

But when I ran across the December 18, 2008 FNMA news release, I decided to read it and it was exactly what I expected:

770 credit score required for auto loans? Mortgage rates at 37-year low

Monday I heard an interview on NPR with a guy who claimed that new guidelines for auto loans require 770 credit scores. I don't think there will be many people with 770+ scores who WANT to finance another crappy new car.

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