Liz Rodriguez

After all that work of trying to get a modification (which is great;don't get me wrong;we get to stay in our home), we have another dilema which is being upside down with the values of today's market. It will take us several years before we accumulate equity. Just some venting I am doing; I guess. I have had someone approach me regarding paying down our mortgage thru a company that cuts down the payoff time in half or even to 1/3. In other words, paying off your mortgage in as little as 10 yrs! Can anyone (who is actually using this system) tell me or warn me of anything regarding this program. This is also an MLM (surprise, surprise) and have been approached about by a few people. It's a wonderful program in theory but, I need to know of someone else (other than the person trying to sponsor me) tell me what horror stories or experiences they have found out about this system. Thanks, Liz

As a REALTOR starting in 2005, I got into that wave of crazy sales. But, I hated it because of the inflated prices. Don't get me wrong I enjoy my commissioin but, I thought "where and how are first time home buyers ever going to get the money to buy a home? Oh, that's right, we can always find a subprime lender for them. I purchased my home (not my first time) with subprime lending and now I'm facing foreclosure. A term that I have been familiar with since my twenties but never thought "it could happen to us." "Us" meaning me, my friends, customers, and so on.

I have personally experienced this and don't think I (nor any of my family/friends) will ever have to do so again. I hope to be able to help others with questions they may have. One thing is for sure...start by calling 1-800-HOPE-NOW and every other free agency that is out there to help you get a handle on what's going to happen with your situation. Lenders are more receptive to them than you speaking to them on your own. What ever you do, DO Something. Get tough with them, if you get the run around. They should work with you if you truly want to stay in your home. If you think they'll just go away if you DON'T answer them, they will...but with your home and probably all it's contents, too.

This is a truly horrible experience so to those who are willing to keep what you have, SPEAK UP and try to keep your home. YOU ARE NOT ALONE.

Best regards,

Liz

Ps-Thanks to all my family and friends for all your prayers and SUPPORT.