Consumer advocate and foreclosure specialist, Michael R. Bang has just published his latest book, ‘Walk Away-How to Strategically Default on an Underwater Mortgage,’ which alongside his new website is aimed at helping struggling consumers understand their rights.
Many Americans are still facing difficulties due to the housing crash and economic downturn and are looking towards industry specialists for advice. The book which is published by Fastpencil, Inc. goes into a considerable amount of detail as to how the banking system works in conjunction with mortgages, and outlines the options available to consumers. These include measures to deal with loan modifications, being underwater on your mortgage, or how to simply walk away from an unaffordable home for the sake of sanity.
Michael R. Bang, consumer activist and foreclosure specialist from The Vortex Reality Vibration LLC says "Many homeowners are having their rights violated by the banking industry or their employers, it often illegal and shameful."
Bang has been a rental investor for over 15 years and a licensed real estate agent for 10 years. He became a foreclosure specialist in 1999, and launched Georgia Foreclosure, Inc. in 2000. This is a site dedicated to providing investors and potential homeowners access to distressed properties on the market. He is a well-known expert in Atlanta on standards and practices used by banks to foreclose, and in 2008 he was bewildered to see the amount of fraudulent tactics and misrepresentation asset managers were flagrantly using to foreclose. He felt that had owners been aware of exactly what was going on and if they had known how to fight back, foreclosures could have been stopped and homes saved. Since the housing crash, Bang has turned his expertise towards consumer advocacy, working with individuals who are facing foreclosure.
His website which was launched last month gives detailed information on the foreclosure processes in each state, along with sample documents and worksheets. There is also a forum where homeowners are able to share their own experiences and can hopefully learn how to avoid being victims of fraudulent foreclosures. Bang’s inspiration came partly through his own experience after a bank tried to illegally foreclose on his home.