I love Freddy Mac's slogan "We make home possible", it should be changed to "We crank up home prices and lock you into debt slavery".

Notice the first point is to call your lender? The whole PR campaign right now is to get homeowners to call their lender to get a workout if your underwater.

Salvery never died, it just morphed to debt servatude. If you are underwater on your home, hand in the keys to the bank and make it their problem.

Yeah! Only the banks should be allowed to screw you over and make you their bitch!! If anyone else did that....well....it would just be plain unfair!

i was looking for a new way to make a quick buck, thanks freddie mac (for the tip!)

To their credit, you may be a Freddy Mac Bitch for calling your lender, but at least your a Freddy Mac Bitch with a home. Read the article, and see what these scammers are doing. You are Quit Claim deeding your home to them - which means you no longer own it. And you're still toting the original note that you still are obligated to pay, while you get kicked to the streets.

It's better to work with the lender. You are more likely to be able to save your home, since they'd rather get payments than a deed to a home they maybe be unable to unload. If all else fails, give the bank the keys and walk - and you'll still be better off than if you had gotten scammed.

Unless of course your lender is Wells Fargo, in which case they'll just foreclose on your house before they even bother to sign the ownership paperwork.