Monday, February 14, 2005

 

Scammers are Everywhere

America is a great country. But there do seem to be an extraordinary number of scammers about. Take this example.

We recently purchased a house and took out a mortgage. The other day we received a letter apparently from our mortgage company inviting us to save about eight years of payments merely by switching to a weekly rather than monthly payment schedule.

The amount of our mortgage was repeated several times and the mortgage company's name appeared in a few places as well.

But call me cynical, I just immediately thought, if you can save eight years payments that easily, why isn't everybody doing it?

Boosting my microscope to subatomic level revealed some print which admitted that this was not a communication from our mortgage company at all, but from some out of state company which had obtained our mortgage information from the public record.

The way it works is they are some sort of 'administration company' and you are supposed to send the payments to them. Even if this isn't an out and out fraud, where they take a few months payments before disappearing, if it's possible to benefit by switching to a weekly payment schedule, then I could arrange that directly with my mortgage company!

All in all it smelled very fishy.
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