Site to See: Esteemed Lending Services (It's a fake)

Cow dentist prolongs bovine life

The FTC created a faux website for a fictitious lending company to warn consumers how easy it is to be fooled by scammers, especially online scams, charging up-front fees for bogus loans, including mortgages.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - The Federal Trade Commission's new loan website Esteemed Lending Services offers "A Loan for every situation. Guaranteed."

However, and pay attention now, unlike other websites offering similar come-ons, it's a fake.

The website is a convincing example of how the Obama Administration gets it when it comes to what consumers face in the financial world -- too much bull.

The FTC created the faux website for a fictitious lending company to warn consumers how easy it is to be fooled by scammers, especially online scams, charging up-front fees for bogus loans, including mortgages.

The site also explains how to spot and avoid loan scams.

The website is part of the FTC's stepped up consumer education campaign to help consumers manage their money and learn to recognize rip offs.

At Esteemed Lending Services consumers enter the fictitious world of "a guaranteed loan for every situation – regardless of your credit history," only to find a world where:

• Lenders aren't interested in your credit history and claim bad credit isn't a problem. (Honest ones are and bad credit can be a problem.)

• Fees aren't' disclosed clearly or prominently. (Honest firms disclose fees. Regulations mandate it.)

• Loans by phone are legal. (They aren't.)

• Lenders use copy-cat names that sound like well-known or respected organizations to convince you they're legitimate. (While using variant names isn't necessarily illegal, it is a scamming tactic.)

• Lenders are not registered in your state. (While state registration is not a guarantee the best loan, it does help weed out the come-ons by giving you a government agency to seek redress.)

• Lenders ask you to wire money or pay a particular person. (Don't!)

The FTC explains its ruse with links to "testimonials," "FAQs," "loan programs," "contact us," all of which point to warnings about scammers masquerading as lenders.

While Esteemed Lending Services isn't particularly loaded with a lot of new information, it is a website that reveals how easy it is to scam consumers. It's also a handy website to use as a reminder of what's out there to take you to the cleaners.

Bookmark it.

A feature of DeadlineNews.Com, "Site To See" reviews are occasional, but timely critiques of content-heavy real estate Web sites deemed unique, consumer-friendly, informative and easy to use.

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© 2010 DeadlineNews.Com

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You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

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Site to See: HouseLogic eases home ownership logistics

45-and-over sex deep sixed

This new web site is so exhaustive in its socio-political-economic coverage of homeowner issues as well as down-to-earth news, it could been used to organize and rally home owning consumers around socio-political-economic issues that affect them.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - Houselogic.com, the newest and perhaps most engaging portal for housing information is a unique compilation of interactive resources no homeowner should be without.

A National Association of Realtors' (NAR) project, HouseLogic hits the information nail on the head helping consumers plan and organize and make wise decisions about a host of homeownership issues, including home improvements, finances, taxes, insurance, even neighborhood issues, homeowner association life and green living.

The new site is so exhaustive in its socio-political-economic coverage of homeowner issues as well as down-to-earth news, it could been used to organize home owning consumers around socio-political-economic issues that affect them.

HouseLogic doesn't simply serve up information on a glossy user interface, though glossy and clean it is. Each menu offers current news and information in a way that engages the user in an interactive learning experience.

You can explore all you want without signing up, but to really dig deep and reap the site's full benefits, you'll need to sign up, sign in and get to work.

NAR promises not to use your information or share it unless you buy something from a third party, but as always, read the small print to be sure what can happen to your personal information.

Once you've signed up, begin by filling your "binder," your online workspace, with tasks and projects and all the information you can grab for later perusal and work. HouseLogic does some of the work for you, if, when signing up you let the site know of issues or concerns most important to you. You can also create you own custom tasks and projects not listed in HouseLogic's vast library.

The projects and tasks can be performed both "on paper," say, in a read-and-learn task, or in real life, say, a home improvement job.

Numerous existing projects, tasks and related information are available in different categories. Each category is under a different menu. The menus include, "Improve," "Maintain," "Engage," "Taxes & Incentives," "Finances & Insurance" and "News & Activity."

Each project typically comes with information you can read and learn, tasks to perform (real and on paper) and later a quiz to put your knowledge to work. You can also assign priorities and due dates for each project and tasks within the project.

Completed projects earn points and badges in different categories. While you can't cash them in they serve as reminders of your progress. Consider them bragging rights.

For example "Invest a Tax Refund in Your Home: $1,000 Projects" suggests ways you can invest a tax refund to save on energy costs, pay off your mortgage sooner, or add a community improvement. A short test grants you a few points and you're off.

The information, test and a report form (to report how much you saved if you actually made the investment) comes with more and less expensive tax refund investment ideas, a host of other related money saving and budgeting projects, a discussion area and other useful tools and gadgets.

Other projects with similar flourishes include creating an emergency kit, helping to expand waste recycling programs, adding electrical service to your studio or workshop, seasonal maintenance chores and tracking capital investments, to name just a few.

In addition to project-related information, also use your binder to store news stories, add checklists, leave yourself notes and dated reminders, reach out to your Facebook account and otherwise just get your house in order.

Unless you make it your life to work the site, you'll never run out of projects.

If you do, there's always the HouseLogic newsletter to help you get the most value out of your home, news alerts about national housing issues, news alerts targeting your local market and still more newsy podcasts.

A HouseLogic segment is also planned for Real Estate Today radio.

"We as Realtors are proud to offer this resource to consumers, because it's backed by industry insights of Realtors and it has information for consumers at different stages of the homeownership lifecycle," said Karl Lee, president of the Santa Clara County Association of Realtors."

"HouseLogic is unique in that it helps consumers view their home through a financial lens and make smart, informed home improvement decisions," he added.

HouseLogic is unique. It would be illogical not to bookmark it.

A feature of DeadlineNews.Com, "Site To See" reviews are occasional, but timely critiques of content-heavy real estate Web sites deemed unique, consumer-friendly, informative and easy to use.


• Click on the keywords below for more stories on this subject.

© 2010 DeadlineNews.Com

Advertise on DeadlineNews.Com | Shop DeadlineNews.Com

Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

DeadlineNews.Com's Editorial Content Is Intellectual Property • Unauthorized Use Is A Federal Crime

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Site to See: PreventLoanScams.com targets mortgage modification fraud

The Loan Modification Scam Prevention Network, led by Fannie Mae, Freddie Mac, the Lawyers' Committee for Civil Rights Under Law, NeighborWorks America and a host of other agencies, recently announced a national campaign to prevent loan modification rip-offs and other scams.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - Days after a federal economic stability agency said the Obama administration's mortgage assistance program was vulnerable to fraud, a coalition of federal, state and community organizations launched a new campaign to fight that fraud.

The Loan Modification Scam Prevention Network, led by Fannie Mae, Freddie Mac, the Lawyers' Committee for Civil Rights Under Law, NeighborWorks America and a host of other agencies, recently announced a national campaign to prevent loan modification rip-offs and other scams.

The group plans public education, complaint reporting services and coordination with local, state, and federal enforcement agencies to thwart scammers and come-ons that prey on homeowners struggling with mortgages.

Recent changes in the Obama Administration's mortgage assistance program may make it more vulnerable to fraud, according to the special inspector general for the Troubled Asset Relief Program (TARP).

The changes to the Making Home Affordable initiative, announced in March, are intended to make it easier for struggling homeowners to avoid foreclosure. But the administration hasn't done enough to warn the public about fraud, says Neil Barofsky, inspector general of TARP.

TARP, is a federal government program created to purchase assets and equity from financial institutions to strengthen the nation's financial sector, especially area's crushed by the subprime mortgage crisis.

"Criminals feed on borrower confusion, and frequent changes to the programs provide opportunities for experienced criminal elements to prey on desperate homeowners," Barofsky wrote in a quarterly report.

The administration's existing program has already spawned fraudulent schemes, the report said, such as one in which borrowers are tricked by "thieves" into paying upfront for modifications that never materialize.

Under the changes announced in March, the Treasury isn't requiring appraisals to determine a home's value in cases where mortgage principle is reduced to complete a mortgage modification, the report said.

That could make it easier for mortgage lenders to fraudulently qualify for incentive payments.

A mortgage modification, used to make mortgage payments more affordable for struggling homeowners, typically occurs when the lender reworks the terms of an existing home loan by lowering the interest rate and exchanging an adjustable rate for a fixed rate, or extending the term of the loan, or both. Recent changes also include the lender reducing the principal to get the payment down.

The TARP report said the U.S. Treasury should follow the Federal Housing Administration's (FHA) guidelines, which require the use of an FHA-approved appraiser.

The new PreventLoanScams.org is designed to support national, state and local law enforcement efforts as a nationwide clearinghouse for loan modification scam information on complaints filed, laws and regulations, and enforcement actions.

Loan modification scams are schemes in which people take advantage of vulnerable homeowners. Scammers prey on homeowners in distress by guaranteeing to help the homeowner obtain a modification of their mortgage to save their home. Frequently, the borrowers pay money up front but receive no help at all and their home is lost to foreclosure.

The new PreventLoanScams.org website includes:

• An electronic complaint form that can be filled out easily by an individual who has been scammed or by counselors or friends helping a victim of fraud .

• Names of individuals and organizations who have been identified by enforcement agencies to have allegedly committed a loan modification scam.

• Information on how to avoid a loan modification scam.

• State-by-state information about rules, regulations and resources available to struggling homeowners.

• News and information on enforcement efforts.

Homeowners who believe they may have been a victim of a loan modification scam, can also call the Homeowners Hope Hotline at 1-888-995-HOPE to log a complaint and to receive free foreclosure prevention counseling.

"We've joined forces with government agencies and other industry leaders to help fight loan scams across the country," said Jeff Hayward, Senior Vice President, Fannie Mae.

"This effort links homeowners to free, legitimate counseling and helps to put scammers out of business. The goal of this campaign is to educate homeowners and empower those who have fallen victim to scammers to report and prevent future fraud," Hayward added.

A feature of DeadlineNews.Com, "Site To See" reviews are occasional, but timely critiques of content-heavy real estate Web sites deemed unique, consumer-friendly, informative and easy to use.

• Click on the keywords below for more stories on this subject.

© 2010 DeadlineNews.Com

Advertise on DeadlineNews.Com | Shop DeadlineNews.Com

Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

DeadlineNews.Com's Editorial Content Is Intellectual Property • Unauthorized Use Is A Federal Crime

Read more!

'Site to See': FTC's Money Matters

"Site to See" reviews are occasional, but timely critiques of content-heavy real estate Web sites deemed unique, consumer-friendly, informative and easy to use.

by Broderick Perkins
© 2008 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - If you are struggling with your mortgage, chances are you also aren't do so well with other credit payments, your savings are being depleted, money management is mangled and all that financial turmoil makes you vulnerable to a host of scams.

Chances are, you got into this pickle because, when it comes to home economics, you just don't know what you are doing.

Surf the Web on over to the Federal Trade Commissions' new Money Matters Web site and bone up on they fundamentals.

They still apply.

Another informational Web site from the Feds similar to the more exhaustive MyMoney.gov, but less overwhelming, Money Matters can help get you back on the right track.

Easily digestible content gets you started on everything from credit cards and debt to mortgage problems and job loss.

The site offers short, practical tips, videos, and links to reliable resources for more information on a host of topics, all from the FTC, a watchdog for consumers, working to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them.

Scam Watch: Information on scams related to mortgage and foreclosure rescues; work-at-home deals; secured credit cards; federal grants; economic stimulus; bank failures, mergers and takeovers; credit repair; advance-fee loans.

Credit Cards: Wisely choosing and using credit cards; disclosures; disputes, errors, refunds and payments; prescreened offers of credit and insurance; gold and platinum cards; rights and responsibilities; avoiding fraud; lost credit, ATM and debit cards; credit and debit card blocking; a credit card calculator that tells you how long it will take to pay off your balance making the minimum payment.

Money Management: Budget creating; saving and saving tips; spending; shopping around; coupon use; tracking spending; financial literacy.



Coping With Debt: Debt collection; debt relief services; credit repair; advance fee loans; vehicle repossession.

Your Home: Mortgage payments; repayment plans; forbearance (short sales); loan modifications; home selling; foreclosure rescue scams; bankruptcy; reverse mortgages; mortgage servicing; what to do when you can't make your mortgage payment.

Jobs: Job loss; business opportunities; work-at-home; wealth building; job-hunting/job scams; seminar pitch red flags.

See more "Sites to See"

© 2008 DeadlineNews.Com

Need a break from doom and gloom in the housing market? Get off the beaten news track and stop by the DeadlineNews Group's Offbeat News Examiner outlet for a few laughs.

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Get news that really hits home for your Web site or blog from DeadlineNews.Com.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop. Perkins is also a National Real Estate Examiner. All the news that really hits home from three locations -- that's location, location, location!

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