Beware of anyone who asks you to pay a upfront fee in exchange for a counseling service or modification of a delinquent loan.

Scam artists often target homeowners who are struggling to meet their mortgage commitment or anxious to sell their homes. Recognize and avoid common scams.

You can get assistance from a HUD approved housing counselor absolutely FREE.

Beware of people who pressure you to sign papers immediately, or who try to convince you that they can “save” your home if you sign or transfer over the deed to your house.

Do not sign over the deed to your property to any organization or individual unless you are working directly with your lender/servicer to forgive your debt.

Never make a mortgage payment to anyone other than your lender/servicer without their approval.

The US Economy: Latest News


Renters becoming latest victims as foreclosure crisis widens
November 23, 2009. NEW YORK -- A new wave of foreclosures stands to hurt people who may have never taken out a mortgage: renters. In cities such as New York, Chicago and Los Angeles, where many investors are carrying upside-down mortgages on large rental buildings, some tenants are watching their homes fall apart along with the financing.


Wave of Debt Payments Facing U.S. Government
November 22, 2009. WASHINGTON -- The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true.“What a good country or a good squirrel should be doing is stashing away nuts for the winter. The United States is not only not saving nuts, it’s eating the ones left over from the last winter.” WILLIAM H. GROSS.


Expect tightening from the FHA
November 21, 2009. For the past several years, the Federal Housing Administration has been the go-to financing resource for cash-strapped home buyers who can't come up with a big down payment. It has zoomed from barely a 3 percent market share to nearly 30 percent of home-purchase loans. But now, wildly popular FHA-insured mortgages could be on the verge of becoming more expensive and tougher to obtain.


The Federal Reserve is a Private Bank
November 20, 2009. The Federal Reserve is a private bank. While this is not new - it has been this way since 1913 - it is certainly news to most people. The Fed is owned 100% by shareholders, who are all private banks. It controls the creation of money, and then uses that to buy US Treasuries. In other words, it lends the money it has just created to the US Government, and secures a revenue stream in the form of interest payments from that. It pays a guaranteed 6% return to bank shareholders, who also get to borrow money more cheaply than anyone else, and create their own money through leverage. The express purpose of the Federal Reserve Act was and is to protect private banks, not the government. That is why great figures such as Jefferson and Lincoln bitterly opposed the bankers and their financing systems, fearing them more than standing armies.


Want to avoid foreclosure? Go see a counselor
November 18, 2009. NEW YORK (CNNMoney.com) -- Housing counselors, who've received more than $400 million in federal funds to help mitigate the mortgage crisis, are helping troubled homeowners avoid foreclosure and lower their monthly payments, a study released Wednesday has found.


Real US Unemployment is Already Over 20%
It feels as if the world has been on tenderhooks waiting to hear when US unemployment will cross the 10% mark. After all, consumers account for 70% of the US economy, and with all economies built around either exporting to the US, or exporting to countries that export to the US, they are the demand engine that powers the whole world economy.

TheBankOffice.com is a back office solution provider serving some of the leading names in Banking, Legal, Realty and Mortgage domains. We have the ability to geo-target and supplement any large scale modification effort by finding cost-effective alternatives to foreclosure and can provide mortgage lenders and servicers with access to our highly trained personnel for assisting them through the entire process from homeowner contacting & counseling to processing. Our clients enjoy the cost benefits associated with economies of scale, enhanced flexibility and often an improved skill set within customer facing roles. We also offer result oriented loan modification processing services directly to homeowners but scope of our service is only limited to initial consultation/review, document preparation and follow-ups. Note: We are not a law firm and we do not act as attorneys for our clients nor offer any legal advice and highly recommend you consult a lawyer if you want professional assurance about any information cited on our website and its appropriateness to your particular situation.

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