Predatory / Subprime Advertisement #2

Here is another submission for the series on “Predatory / Subprime Advertisement.”

The advertisement has been modified so that it won’t show names or phone numbers.

This advertisement has a much common message found in the Spanish magazines. It states “Are you late with your payments? A lot of debt? Credit Problems? Call us and we will help you! We Can Stop Foreclosure!” really?….they can stop foreclosure? I imagine they must be a Fortune 500 company by now if they can stop foreclosure.

The truth of the matter is that the only way you can stop foreclosure is either by paying off your mortgage (ie: selling your home) or by getting caught up with your mortgage payments.

The advertisement continues by stating “We can help you with your mortgage even if you have NO credit, No ID, NO savings” wow…..that is great offer!

With the credit crunch we are in right now, lenders are stricter with their underwriting guidelines and there are no lenders willing to invest in someone that has no credit, no ID and no savings.

If you have any other ads, submit them and I will post them here on the “Predatory / Subprime Advertisement” category.

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April 15th, 2008 · Filed Under Predatory - Subprime Advertisement

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