Yet another rip off

This morning I received a call from a company called Expert Financial Services, Inc. It was a robocall asking me if I would like to reduce my mortgage payments. I decided to see what they were talking about, so I pushed the 1 button and was connected to a man who only identified his name as Al. Al told me that the government stimulus program would allow me to renegotiate my mortgage and he asked me what my current mortgage payment was. I gave him the figure (which by the way includes the escrowed real estate taxes). Al immediately told me that I could save 800 dollars per month by having them renegotiate my mortgage. That reduction would take the payment below the amount of my real estate taxes, but I did not tell Al. Instead, Al asked if I was behind in my mortgage payments and I told him that I was not. He then asked if the mortgage was more than the value of the house and I told him that it was not. Finally, I asked him if I was still able to take part in this program. He said that I certainly could. Then came the clincher. Al told me that the banks were supposed to be doing this program by themselves, but that they were not cooperating with the government. As a result, Al's company had a crack team of lawyers (his phrase) who could step in an hadle the renegotiations for me so as to get the bank moving. The fee is $2000. According to Al, I could make that up in no time.

I then told Al that I felt uncomfortable giving him any information over the phone, and he responded with a sales pitch. Finally, he gave me the company web site and his phone number so that I could call back.

So here we are. Hardly anyone who needs help with his or her mortgage has seen their debts renegotiated. Instead, we have predators making cold calls to people who do not qualify for the help and offering relief that cannot be granted for the "low low" fee of only $2000. I wonder if I had actually given my information whether or not my identity would have been stolen. Even if the company involved is legitimate (and I do not know either way), I wonder how many people pay the $2000 fee only to find out later that they do not qualify.

This is a lame program for help that the Obamacrats put together. It sound more like a poor excuse for a scam.