Posted by Ed Garcia on October 02, 2003 at 10:26:30:
Fred,
You have brought this mortgage elimination program to my attention via your post. I have never heard of it before so I went to the website that you have given and read the information.
I feel that it?s as you say, a SCAM.
Fred I?m sorry to say that I have pretty hectic schedule today or I would give you more time with my answer. But here are my thoughts for now.
First, before getting involved with this type of situation or group, I would run it by my attorney. Don?t be surprised if your attorney thinks that it?s ludicrous.
The first thing they say that doesn?t make sense is, that the bank does NOT disclose to you that your promissory note is actually an asset to the bank - that they deposit.
What are they talking about ? It?s an asset only for the usage of securing the debt that they have acquired in lending the borrower the money.
They’re trying to create doubt for those who look for a free ride and the people who get involved will find themselves to be victumized. They are praying on greed.
Like I said Fred maybe we can go over this another time, but I agree with you, it?s a SCAM.
Ed Garcia