Consumption and Real Estate
Has anyone heard of a company named Federal Mortgage Solutions? They’re offering me a mortgage deal 2 good 2 b?
Question : Has anyone heard of a company named Federal Mortgage Solutions? They’re offering me a mortgage deal 2 good 2 b?
This company has offered to buy out my current mortgage, cut it in half, reduce my 6.25% interest rate to 4.0%, and cut my monthly payments in half. To me, this just sounds way to good to be true, so I’m trying to find out if anyone else has been contacted by this company.
mortgage company names
Best answer:
Answer by wizjp
Spend some smart money and have a lawyer review the docs. One who works for you.
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#3 written by Paul in San Diego 1 year ago
This has “scam” written all over it.
It took a bit of doing, but I was able to find their website: http://www.federalmortgagesolutions.com/
The site has one page with two clickable links: Contact Us, which returns a contact form (no e-mail address) and a link to download the forms. On these forms, they ask for all of your credit card information in order to pay an upfront fee. They also ask for a lot of personal information. I guess you’re supposed to call them to get specific terms to put onto the form. They don’t give any indication what their rates are, yet there’s fields in the form for how much your credit card is to be charged.
The only other references I found to Federal Mortgage Solutions (other than listings in various yellow pages type sites) were ads on Craigslist and other local LA publications offering jobs for people to be mortgage consultants for the company. And, they’re offering $ 500 a pop for each “client” a consultant lands.
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#4 written by rvhomeofthefuture? 1 year ago
It sounds like a scam. If it sounds too good to be true, its not true. No bank is able to do what you are saying this at this point. The loan modifications backed by the government are helping out sub prime mortgage home owners. There isn’t any legitimate company that can offer what you are saying. Don’t waste your money. Grill them and ask how can they do something no bank can. Report them to HUD or proper authorities.
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#5 written by Anxiously awaiting a miracle 1 year ago
There’s an old saying– if it sounds too good to be true, it probably is. They’re not going to just let you walk away with only 1/2 your debt. When companies do stuff like that, they usually stretch your payment timeframe out twice as long (so if you have 15 more years until your house is paid off, it will really take you 30 more years). When it’s all said and done, you’ll end up paying about twice what your debt actually was b/c of interest. That’s the ONLY way they can do this without putting themselves into debt.
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Are they offering this to you because you are behind on your payments? Some of the lenders are now offering this to their home owners because they need a loan modification. You may want to check it with your lender. If this is the case you will receive a notice from your lender with paper work that needs to be filled out and returned to them in order to get the loan modification. If this is just an offer I would check around I have not heard of any rates being that low.