Monday, December 29, 2008

FBI expects mortgage scams to continue to rise

Two months ago, Holt resident Kenneth Evans feared he was about to lose his home to foreclosure.

Now, Evans and his wife, Gloria, say their home is safe. They secured a fixed-rate FHA loan to replace an adjustable-rate mortgage that had become too expensive. The couple told their story to the Lansing State Journal in November. Kenneth Evans contacted one of the bankers quoted in the story, who was able to get them into a standard FHA loan.

I'm so relieved, said Evans, who had recently fallen behind on his ARM. I just feel like it's a ton lifted off of me.

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