For Profit Companies Making Money on the Mortgage Crisis

Earlier this year when the stock market was tanking, the recession was “officially” declared to be real, and foreclosures continued to make head lines, I knew, without a doubt, that someone  would find a way to make money in a time when others were losing everything they had.  They always do.

 

And sure enough, in this morning’s Washington Post, an article by staff writer Renae Merle,  highlighted an industry that is making money on the mortgage crisis.

What are they doing?  It’s very simple,  for profit “loan modification” companies are charging anywhere from $500 to $2500 to help distressed homeowners negotiate better loan terms – a service available for free from many non-profits.

Click here to read about what happened to one Alexandria woman.

Michael