Cool Site of the Week: QuestionsProtect.org
Ask an economist what a recession is, and you’ll be told that it’s a period of contraction during a given business cycle, often signaled by a slow down in economic activity. Now, ask the same question of members of your family, your neighbors or friends. Chances are, you’ll find there’s at least someone you know who’ll say a recession was responsible for their being laid off, the loss of their retirement funds or even their homes. As if the these fiscal hard times the world is going through weren’t already rough enough, unscrupulous bankers, mortgage brokers and other financial vultures have been licking their chops in anticipation over the possibility of getting their rat claws on our hard-earned assets at the first sign of our weakness or despair. While it’s not capable of outright saving your home, the National Fair Housing Alliance’s QuestionsProtect.org arms consumers with the tools they need to defend it.
QuestionsProtect.org provides consumers with the knowledge and understanding required to avoid the financial pitfalls that could deprive them of one of their most valuable assets: Their homes.

In an effort to educate the site’s visitors on important topics like predatory lending, mortgage fraud and foreclosure scams, the National Fair Housing Alliance provides a wide range of resources in both in English and Spanish to aid consumers looking to purchase their first home, as well as those looking to keep the one they’ve lived in for years. If that’s not cool, we don’t know what is.
Be sure to check in every Friday for another edition of Maximum PC’s Cool Site of the Week.
Comments
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titan8813
October 02, 2011 at 9:58pm
If you don't pay your mortgage payment, then the contract you signed with the mortgage holder gives them the right to take the asset as a their payment due that you failed to make. If holding someone accountable to an agreement they made under their own free will is predatory or unscrupulous, then we're in a much bigger mess than has to do with money. Nobody has to get a loan to buy a house. They still take cash--seriously! Will it take a lot longer to save up to pay cash for a house? Of course! But buying a home with the bank's money and then not paying your bill does NOT make you a victim, and it's certainly not a RIGHT! Your job wasn't guaranteed to you when you signed the mortgage, and it's not the bank's fault if you lose it. They're not the bad guy if they execute on the deal you made with them. I'm tired of this crap. Are there "bad guys" out there? Sure. They're the ones who have all the means necessary to make their house payment but they see everyone else defaulting on their loans so they decide to live "rent free" for a year or more while they take advantage of the people who allowed them to get a home in the first place!
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jnwoll
October 03, 2011 at 7:04am
well put... I expound on that I'd like to mention a great phrase: Live within your means. In 2006 I got approved for my mortgage. Okay fine. But, what suprised me was the banker/lender came back to me wondering why I only wanted 250K as I've been approved for 900k. Then he went into all the ways I could easily afford 800-900k and all these ways on how to obtain it. It was crazy. All I wanted was a 30 year mortgage and that was the last thing he wanted to hear. Now, I'm not cutting them slack, you're the sucker to signed it. Can't pay, lose house. It's that simple. I don't agree with so much regulation, but banks also need to be told... "You gave a man a $350,000 loan when he makes $10 an hour, lives in a single income family and tries to feed 6? You deserve to not get paid."
If it sounds too good to be true, it was and still always is.
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titan8813
October 03, 2011 at 11:35am
I'm a real property appraiser and I see stupid stuff like this all the time, it's really old. I've been pressured to "make the value" on a property that is being financed at 100% with a 60-inch flat screen in the living room and a brand new car in the driveway. Give me a break. I was talking to a gentleman in his late-60s a few weeks ago and he said that even though he and his wife wanted only a 10-year note, the banker was pressuring them to get a 30-year loan. I'm sorry, what part of late-60s plus 30 years was a good idea to you? Thankfully the guy stuck to his guns, but how many Octogenarians out there are getting approved for these loans?! Unbelievable.
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holye
September 30, 2011 at 2:13pm
These are type of people along with ACORN that got us into the current economic mess that we are now in, forcing banks to make risky loans to people that can afford them. where you see compassion i see a predator.
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