“Dear Steve,
In November of 2011 Phillips Law Frm contacetd us offering to to get a modification on our mortgage loan with Well Fargo(Lender). Coincidentally we received a mailing just a week or so after I had submiited an application to Wells Fargo asking for the modification. This mailing gave a reference # and asked us to call a 800 number. We thought that this letter was a response to our application. When I called this 800 # the person who picked up the call and indentifeid himself and stated that they are a Law firm.. Phillips Law Center and they have the expertise to get the process stream lined and they work with major Banks and Mortgage lenders . When I said that I had already sent in an application to Wells, they warned me that the abnk will keep asking for various documents etc which will be overwhelming to most. After several back and forth communications we were convinced that it be best to to get their help. They wanted an upfront fee( $450 0.00) When I asked what we do about our iniated application they said do not worry and thet will settle this. They said not only they can get the inerest rate reduced to well below 4%( our loan had a raye of 5.875 but also cam part of the pricipal reduced.
Now it is August 20112 and nothing has happened. I finally also got in conact with the owner, an attorney, Brent Phillips. He kept assuring me that everything is fine . Finally I called theWells and they said that they had very little contact with Phillips Law
Can I get Phillips Law to ferund us all or part of the4500?\
Can I get all or a part of the fee refunded
Dudley”
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The Answer
Dear Dudley,
I would follow this guide and process.
Charging in advance for mortgage modification services is problematic when attempting to comply with the Mortgage Assistance Relief Services Rule from the Federal Trade Commission.
Let me know in the comments below how your effort to get your money back goes.
Please post your responses and follow-up messages to me on this in the comments section below.
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