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Is Real Estate Law Center in Pasadena, CA a Scam? – Roland

“Dear Steve,

Is real estate law center in Pasadena Ca a scam? I want info on a case that they have won, but can’t give me any info. They want me to pay money up front. They do not sound like a “real” company.Do you have any info on these people if they are legit?

They said that I would be included in a lawsuit but will not give me a date. They will not deal with my lender directly to protect me, so what am I paying them for. Have they ever won a case?

Thanks

Roland”

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The Answer

Dear Roland,

Is Real Estate Law Center in Pasadena, CA a Scam?   RolandYou raise a number of good questions. The “are they a scam” question is always a tough one for me because I don’t know what your definition of a scam is.

The site has published a number of articles on Real Estate Law Center, including some consumer complaints. You can click here to see them.

This video below from the California Attorney General covers information that can help you put whatever offer the Real Estate Law Center has made to you into context with what the State of California feels is not fair.

Your comment the Real Estate Law Center won’t contact your lender directly is an odd thing for them to do. If you are paying them to represent you how can they do that if they are not representing you. Otherwise it just sounds like you are paying for form filling advice.

If you are hiring them to provide you with legal advice, make sure you speak to the attorney who is licensed in your state who will be representing you. Without an attorney assigned to you that is licensed to practice law in whatever state you live in, there can be no legal representation. You can confirm their licensing status with the State Bar in your state.

There are a number of things you can do on your own for free and information you need to be aware of before you pay any money for mortgage help. Most notably you need to become familiar with the Mortgage Assistance Relief Service Rule.

The list below provides you with important information.

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 Real Estate Law Center in Pasadena, CA a Scam?   Roland
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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.

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