There are Those Who Would Profit from your Misery

Posted on August 6, 2011

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Sign of a mortgage centre in East London

Image via Wikipedia

When so many people are barely subsisting, banks foreclosing on homes and the economy in shambles, I have a difficult time understanding that there are those who would profit from the misery. The official-looking letter that came in the mail today dangled an interest reduction option “based on city and county records…estimated to decrease my scheduled mortgage interest by $34,876…This reduction option is currently available in the Lynn area and is part of a nationwide program to help stabilize the housing market…” I’ve got to admit, that hooked me. I wanted to believe.

I googled the phone number referenced in the letter and learned that the sender, a company that only calls itself ACT, is accused of running a scam for a product that actually works but is unnecessary as any homeowner can achieve the same results for free by paying extra on their monthly payments.

My home phone has been ringing off the hook recently, yet no one leaves a message. One time I picked up and spoke with a woman who refused to tell me where she was calling from, yet offered to reduce my mortgage and kept on asking me for information about it. She did everything to keep me on the line, but I finally hung up. She called back. “But you’ve already spent time on the phone with me, you wouldn’t want to have wasted your time…”

“Oh yes. I would.”

I just hope that no one else is fooled by this letter or doesn’t hang up immediately on these jackals. They pick on the most vulnerable. While I knew the offer was too good to be true, a part of me wanted to believe. How much more would I have wanted to believe if I was desperate enough. I imagine there are many desperate people in Lynn.

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