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Is Results For Homeowners a Legit Company or a Scam? – Jim

“Dear Steve,

Retired on pension of 48K/yr. , mortgage held by B ob A, from Countrywide..Loan is 30 fixed 1st 10 interest only, will roll over in 2 yrs. and payments PITI will be ~ 2800/mo. no way I can pay that, as I’m too young to open SS, and will not till 66. I am current on everything, have no impound account and pay all taxes and ins. Have been turned down by B of A, three times since I’m current. Bank told me to “pay it down”. That’s not possible.

Learned of a service that an old high school buddy and his wife have signed up with. Organization, out of Newport Beach, Ca. is called Results For Home Owners.com. I’ve tried finding them through the City of Newport Beach, and they’ve no business license on file for these folks, hence no mailing address on file. Who are these people? Chase Bank has told my friends that these folks are legit. but I’m unable to discern that. What can you tell me about this organization?

Jim”

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The Answer

Dear Jim,

First off we need to get clear on the fact that there is no requirement for any mortgage company to modify any mortgage for any reason.

It sounds like your mortgage product stinks and the ten year deal was always going to potentially explode a decade in the future.

Wouldn’t it make sense, as low as rates are, to refinance your mortgage into a fixed rate product? There are great deals out there now. Rates are historically low.

Alternatively, maybe the reality is you just can’t afford the home. It could be time to sell and rent something more affordable on your reduced income. Renting is much cheaper than owning when you factor in the benefit of flexibility and the reduction in ownership expenses.

I took a look at the Results for Homeowners site at resultsforhomeowners.com and there are some red flags that worry me. As you observed, they don’t list where they are located. That’s a huge red flag. Why would any legitimate company hide that? – Source

Is Results For Homeowners a Legit Company or a Scam?   Jim

Even their domain ownership records are hidden and it looks like the domain name resultsforhomeowners.com was only registered on February 4, 2012. That’s not much of a track record to bank on.

Even their “about us” page doesn’t say anything about them. – Source

They don’t even say what the company name is. And if we go on the fact they may be located in California, the State of California has no registered company under that name that is authorized to do business.

Frankly from what I’ve seen I would be VERY reluctant to send anyone to this company. The red flags keep piling up and it doesn’t look good that this site and company is either experienced, is not operating transparently, and seems to be primarily selling services rather than being open about who they are. in fact I’d call your good buddy and make sure he did NOT pay any money in advance to this company without checking them out.

I applaud your research you did on this company and think you are being a smart shopper.

I welcome any comment they may want to add to this story to help shed some awareness about their legitimacy, experience, where the company is located and who the owners are. Until then, my advice is to run away.

Below you will find some free resources you can use to explore mortgage help with without having to spend one penny.

Mortgage Help

Be sure to first read How Not to Get Scammed by a Mortgage Loan Modification Company.

Debt-to-Income Calculator

First you’ll need to determine your current debt-to-income ratio. The target debt-to-income ratio under the Home Affordable Modification program is 31%. Use this free online DTI calculator.

Mortgage Modification Calculator

The mortgage modification eligibility calculator will ask you several questions and then show you which programs you may be eligible for.

The free mortgage modification calculator can be found here.

Free Mortgage Modification Help and Counseling

If you have questions about the process or eligibility you can call 888-995-4673 and get connected with an mortgage modification adviser for free. This help is provided by government subsidized HUD Housing Counselors and they can be a big help in navigating the modification process.

In order to assist you, the housing expert will need to gather some information from you. Have the following documents handy:

  • Information about your first mortgage, such as your monthly mortgage statement.
  • Information about any second mortgage or home equity line of credit on the house.
  • Information about the monthly gross (before tax) income of all household members contributing to pay the mortgage, including recent pay stubs if you receive them or documentation of income you receive from other sources.
  • Information about your savings and other assets.
  • Account balances and minimum monthly payments due on all of your credit cards.
  • Account balances and monthly payments on all your other debts such as student loans and car loans.
  • Your most recent income tax return.
  • It may also be helpful to have: A letter describing any circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.), if applicable.

You can also get free help and housing counseling from a local HUD approved counselor. You can find your local free housing counselor, here.

Contact Your Mortgage Company

Not sure if your mortgage company offers modification programs? Not all do. You can contact your mortgage company to ask them about mortgage modification programs you might be eligible for. Click here to find your mortgage company.

NPV Calculator

Want to know the net present value (NPV) of your home for the mortgage modification process? No problem, use the free NPV calculator to find out. The NPV calculator is right here.

The calculator can be used by homeowners who have been denied a HAMP modification because of their NPV result or can also be used by homeowners prior to applying for a HAMP modification to help them better understand the NPV evaluation.

No Advance Fees

The Federal Trade Commission has a Mortgage Assistance Relief Services Rule which prohibits advance fees for mortgage rescue services or mortgage modification help.

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

Is Results For Homeowners a Legit Company or a Scam?   Jim
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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Ellittle60

    After reading the comments I’m certain they are preying on those already in financial stress.  My friend provided them with a SSN but nothing more.  She did not solicit or contact them.  They told her that her bank provided her name and information.

    What shoiuld she do to protect herself?

  • Jim

    I got a call last week from someone name Deborah in the company. She told me my payment would be $505 a month and she would get back to me. She didn’t call me back so after day 3 I called her at her direct number and got voice mail for a George. 2 weeks later I got a call from her again reassuring me of the payment and telling me I qualify for a new program. Then came the catch. They want $1600 fee up front before they will send you any paperwork to fill out and sign before they will start the process and they don’t take credit cards for payment either. They emailed me some 11 page for to e-sign and mail back. Here is what I don’t like, besides this so called fee. They want your full name, birthdate, SS number,bank account number and the routing number. They want copies of your bank statements, etc. That ain’t gonna happen. She only told me they are in New Port Beach. I can’t find out anything about this so called company do a quick search, except this site. If this doesn’t sound like a scam then I don’t no what is. I feel 100% positive that this is nothing but a con to get money out of home owners that are already in deep and being for closed on. I RECOMMEND YOU DO NOT SIGN ANYTHING FROM THEM OR GIVE THEM ANY PERSONAL DOCUMENTS OR MONEY! I could be mistaken but I think companies are not allowed to charge you an up front fee to do a modification. Any fee would just be added into all the paper work for a modification loan. Again, this is my opinion and you take it for it’s worth.
    Jim

  • Robertsmith0530

    This place called me today to offer us help.  They did not tell me where they were from only that they were in Calif.  They want $3995 to start process and do some kind of government test before they submit to the bank for them to review.  They want the money in 1 month time and then still say they have a 99.9% success rate.  I’m glad I googled and seen this because I’ve been scammed before and this just seemed all too familiar. I’m not moving forward with them, seems a little shady to me especially since Keep you Home Calif. denied us help and they are a reputable com.  Thanks for posting, it really helped me.

  • @rmjphillip

    I am not saying that I will use this firm, but I questioned
    one of their case managers for information about their registration, etc. She
    (Lauren Kelly), gave me a license/entity number: 201133310166 and directed me to this website http://kepler.sos.ca.gov/cbs.aspx,
    where you get the following information:

     

    Entity Name:1ST CHOICE DOCUMENT PREPARATION, LLC.

    Entity Number:201133310166 Date Filed:11/08/2011

    Status:ACTIVE

    Jurisdiction:DELAWARE

    Entity Address:220
    NEWPORT CENTER DR STE 604

    Entity City, State, Zip:NEWPORT BEACH CA 92660

    Agent for Service of Process:GEORGE PARKER

    Agent Address:220
    NEWPORT CENTER DR STE 604

    Agent City, State, Zip:NEWPORT BEACH CA 92660

     

    I then asked for a listing of clients that they have helped.
    She sent me a ZIP file with 5 cases I it. Client names were blotted out, but
    institution names are present. Is it valid? Who knows.
     

    • http://GetOutOfDebt.org Steve Rhode

      So the company is really:

      1ST CHOICE DOCUMENT PREPARATION, LLC
      220 NEWPORT CENTER DR STE 604
      NEWPORT BEACH CA 92660

      Odd.

  • Eileen

    About
     “Results for Homeowners” / “First Choice Document Preparation”  I got a license #201133310166 from my customer service rep Kaleigh D. 
    Steve I am still not sure if I should do any business with this company

    • http://GetOutOfDebt.org Steve Rhode

      What kind of number is that for? The number alone doesn’t mean anything. What kind of license is that for?

      • skg

        The is a limited liaiblity company entity number issued by the California Secretary of State to 1st Choice Document Preparation LLC.

  • CJ

    Hi Steve, I’m tagging onto this question because it has to do with the company Results for Homeowners. This past week, my 75 yr old mother, who is losing her home, talked to Lindsey at Results for Homeowners. I asked my mom to wait for me to do some research, but she didn’t and today Results for Homeowners took $825.00 out of her bank account and they will not give her the money back. She told them that she changed her mind and they said that she forfeits the money.  We live in Illinois and I’m not sure who to contact to get her money back. Do you have any suggestions for her?

    • http://GetOutOfDebt.org Steve Rhode

      If you look on the right side of the website you’ll see a link to an important article about how to request a refund from a debt relief company.
      Steve

  • Psyoper

    I received a flyer in my Califormia Unemployment Check envelope.  I thought that if the EDD is vouching for them – they have to be legit.  They want $2495 to prepare the loan modification docs.  I’m told the legal name of the firm is “First Choice Document Preparation”   and am looking into it since the website does not indicate that or where they are located.  Stay tuned….

  • Lilbjug354

    I got this address from the b b b website? I would  like to find out more also before I send them money 2522 w 41st st Sioux falls SD 57105

    • http://GetOutOfDebt.org Steve Rhode

      If that’s their address then you’ve uncovered a huge problem. There is no company registered to do business in South Dakota under the name Results for Homeowners or Results for Home Owners according to the South Dakota Secretary of State Website. Also, the address you gave me is a mail drop. I’ve attached picture of what Google Maps shows as street view.

    • Mercury419

      I’m checking out Results for Homeowners too, and I talk to Lindsay. She seems very nice and knowledgable to me too, but that doesn’t mean a thing. I have an address she sent me so I could send my paper work: 220 Newport Center Drive, Suite 604, Newport Beach, CA 92660.

      • Steve Rhode

        There is no company registered to do business in California under the name ResultsForHomeowners or Results for Homeowners. You should find out what their registered corporate name is then.

  • AdrienneB58

    I personally have a friend that has gone thru results for homeowners to obtain a modification, which in fact he did. I wanted to proceed with results for homeowners, but i wanted to wait and see what happened with him. He received his modification and at that point i knew it was my time to move forward. I am now working with Lindsay and she is very knowledgable and honest when it comes to modifications. I have full faith in her and this company, because i have seen the results with my own eyes. 

    • http://GetOutOfDebt.org Steve Rhode

      Maybe you can share with us where the company is actually located. What’s their physical business address. That’s the first thing to confirm before working with any company.

  • Deborah8711

    Steve, My husband found this Results for Homeowners in the AARP magazine he receives. We thought they must be legit or AARP would not let them advertise in their magazine. My husband has allowed them to draw out money on the 19th of this month and I have not been able to verify that they are legit. What do i do to stop this payment.

    • http://GetOutOfDebt.org Steve Rhode

      Call your bank and ask for advice.

    • MM

      DO NOT USE “Results for Homeowners” , it’s a scam. They don’t even have a physical office in Newport Beach.

  • Loscar41

    You are 100% correct Banks are not forced to modify loans. The fact is they accepted fed money for that purpose, but they do as they please and noone is holding them accountable. From the research I’ve done they seem to make more more money from service fees and foreclosousres, so why modify loans?  L.Oscar

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