Letter: Beware Mortgage Lenders

Dear Editor,

Mortgage Lenders can be as bad as Ice Meth Dealers.
There is an epidemic sweeping this country and depriving people of their homes, their life savings and their personhood. No it is not crystal methampetamine (bad as that is), but the greed of bank corporations and wall street gangsters “hereinafter called BANKSTERS”.
Their latest scam is “force placed insurance policies.”  Most often, mortgage escrow accounts are inflated with unneeded insurance policies demanded by your mortgage company, sold to you by an complicit  insurance company, who inflates the cost of their policies and sells them to your mortgage company. The policy I was forced to buy cost 7 times what we could get on our own.
We have been victimized, until we fought back in court. Hundreds of other homeowners across the nation are also successfully fighting back.
This is a practice done on Hawaii Island and throughout the state. We know some have already lost their homes because they could not afford proper legal representation, or did not know how to fight off this malevolent, greedy bankster action.
There is free legal advice and good attorneys who know how to foil this greed.
Nelson Ho

1 reply
  1. joy cash
    joy cash says:

    Having worked as a realtor years ago, I attempted to steer my clients to most honest & reliable lenders & insurance brokers. There are so many that are greedy & dishonest. With government de-regulations these companies have lost all sense of ethics.
    Shop around for best mortgage rates/fees & insurance companies, ask reliable realtors for suggestions, ask real estate law attorney for advice as well.

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