Welcome to Co3M- The Community Coalition for the Co-Mitigating Mortgage and Sustainable Economics. We are a grassroots consumer organization that specializes in the education and protection of American homeowners against predatory mortgage lending.
In the last few years we have been hearing more and more about the "exotic mortgages", meaning adjustable rate, option ARMs, pick-a-payment loans, etc. Many homeowners have been lured from their safer, fixed rate loans to these exotic loans with the promise of cash in hand and much lower payments. Unfortunately, research shows that the average homeowner is not well educated about the pitfalls of these types of loans, and the lenders are in no hurry to educate us, as they make billions of dollars from the increased interest rates and high hidden fees.
More and more we are even seeing "formulated foreclosures", where homeowners are forced into foreclosure by the illegal and unethical practices of lenders and mortgage servicing companies. It has been noted that Mortgage Fraud is the biggest financial scandal in this country, bigger even than the famous Savings and Loan scandal.
We at Co3M are committed to fighting this trend, one homeowner at a time. We strive to educate homeowners about their options and their rights, and we take on the banks legally when necessary.
If you have a mortgage, know someone who has a mortgage or plan to get a mortgage, the information we can provide you could be worth tens or even hundreds of thousands of dollars. So please, take a moment to look around, and if you have any questions don't hesitate to contact us!
Prosperous Regards,
Erin Leebolt
Co3M Mortgage Remediator Consultant