Tim Bernsen signed us up in January for what he claimed to be a refinancing process for our home, through his supposed employer, National Standard Financial. This was to to take 30-90 days and would involve an initial stress test (we had to give him all our financials), approval for the process, up front payment of $3500. His "lawyers" were then to approach our current home loan bank and negotiate a buy the loan out from them. The federal government, under the TARP program would then absorb the difference between the value of our home today vs what we paid for it two years ago. We would then be given a new loan with a new bank at an improved interest rate and a much lower mortgage (the difference having been assumed by TARP).
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