Article Launched: 06/08/2008 01:35:10 AM PDT
Picture this: You're eager to take advantage of today's troubled real estate market and buy a foreclosed house at a fire-sale price.
The problem is you don't have much money for a down payment. And your credit files are scuffed up with late payments.
What you need is a service that can help put it all together for you - linking you into lists of available foreclosures, credit repair, and even low-down-payment mortgage financing.
Companies that promise to do at least some of these things - especially to fix your credit - ply their wares aggressively on the Internet. But can they really do what they claim to? Based on a recent settlement by the Federal Trade Commission, the only conclusion is: If the deal involves paying money upfront, don't do it. ...
The problem is you don't have much money for a down payment. And your credit files are scuffed up with late payments.
What you need is a service that can help put it all together for you - linking you into lists of available foreclosures, credit repair, and even low-down-payment mortgage financing.
Companies that promise to do at least some of these things - especially to fix your credit - ply their wares aggressively on the Internet. But can they really do what they claim to? Based on a recent settlement by the Federal Trade Commission, the only conclusion is: If the deal involves paying money upfront, don't do it. ...
