Miguel Romero, real estate agent, insurance dealer, income tax preparer and credit repair specialist, ???; employee (or not?) of Home Building Wealth "The most important thing about HBW is the ability to help more families with the different companies we represent. Next is the ability to help new associates make more money right away (you help a family, you help yourself). Last is having the experienced Leadership helping us to achieve our goals. In this way I can help myself and my family like no other way on this earth!"
2008-06-14: Families say real estate agent led them into crisis
VISTA ---- Working as a real estate agent, insurance dealer, income tax preparer and credit repair specialist, Miguel Romero has helped Latinos buy 122 homes since 2004, becoming one of his firm's best salesmen.
But his customers have not been so fortunate ---- at least 75 of the homes Romero sold have fallen into foreclosure. The company caters almost exclusively to Spanish-speaking customers.
Romero's sales practices, and the stories of some clients, provide a window into industry excesses that analysts say contributed to the region's foreclosure crisis:
69 percent of Romero's sales and 33 percent of his agents' have resulted in foreclosure or short sale.
"That's not an accident, that's a set-up," said Yamila Ayad, a San Marcos mortgage broker and a member of several nonprofits dedicated to helping families face foreclosure.
1 comment:
I have no Sympathy for any of these people. Sounds like a bunch of cry babies that bought high cause of greed and now that Real Estate is low and their payment is too high. Now all they do is blame other people when they forget to blame themselves. Yamila said "...its a setup." Well, it is a setup that they did to themselves. Is not like Miguel put a gun on their head and a bandana over their eyes and told them to sign. Now I know why people say the Newspaper is 90% bull. Seems like everybody is losing their house not them, and is maily hispanic communities that are losing. Either we get smarter and read what we sign or we will lie to ourselves and blame others. On top of things Miguel didnt make those loan programs the bank did, so shouldnt they blame the bank?
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