https://4closurefraud.org/2014/09/03/heloc-resets-payment-shock-coming-to-a-home-near-you/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Wed, 03 Sep 2014 17:55:53 +0000 hourly 1 https://wordpress.org/?v=7.0.2 https://4closurefraud.org/2014/09/03/heloc-resets-payment-shock-coming-to-a-home-near-you/#comment-455625 Wed, 03 Sep 2014 17:55:53 +0000 https://4closurefraud.org/?p=61509#comment-455625 What about the ‘payment shock’ that is going to take place in 2015 with all of those modifications that were done in 2010 that has a reset of interest rate after 5 years? Anybody out there that did these modifications read the fine print……again? That 1, 2 or 3% interest rate is not a forever rate people. What happens when those get reset? Another flux of foreclosures? Oh no, we know that the lenders wouldn’t do anything like that, right?! Only difference being that these borrowers have signed the modifications with an ‘acknowledgment’ that the statements herein are tried and true….can’t use the fraud to fight on the 2nd round of foreclosures! Maybe they will be able to refinance; that is if the property values have gone up about 30% to cover the delinquent payments that were added to the back end of the mortgage principal balance..We are in for another tide of foreclosures all over again….

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