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Tag Archives: loan-modification

Hope Now Financial, Hope Now Modifications, Salvatore Puglia and Nicholas Puglia Agree to $5 Million Dollar Settlement With New Jersey Over Loan Modification Fraud

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New jersey Attorney General Paula T. Dow announced today that a New Jersey loan modification company and its owners have agreed to a judgment of $5,051,253 to settle civil charges they defrauded homeowners who sought help in avoiding mortgage foreclosure. In addition to civil penalties of $5 million, corporate defendants Hope Now Financial Services Corp. and Hope Now Modifications LLC, ... Read More »

FTC Hits Mortgage Relief and Foreclosure Rescue Scams Hard

As part of the agency’s continuing crackdown on scams that prey on financially distressed homeowners, the Federal Trade Commission announced legal actions against more than a dozen marketers accused of pitching bogus mortgage modification or foreclosure relief services. FTC settlement orders ban 16 marketers from the mortgage modification or foreclosure relief business. The promoter of a similar scam has been ... Read More »

Report on Different Types of Foreclosure Rescue and Loan Modification Scams

Mortgage Loan Fraud

Here is the latest report out from the Financial Crimes Enforcement Network regarding loan modification and foreclosure rescue scams. – Source Early reports of loan modification/foreclosure rescue scams identified subjects purporting to be loan modification or foreclosure rescue specialists. These subjects targeted financially troubled homeowners with promises of assistance. These scams involved the homeowners signing quit claim deeds, and resulted ... Read More »

Worst Banks for Loan Modifications

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Here is a list of the banks with the worst record for canceling loan modification requests. PNC Mortgage – 47.2% Aurora Loan Service – 46.8% CitiMortgage – 42.1% Saxon Mortgage Services – 40.8% Select Portfolio Servicing – 38.6% Wells Fargo Bank – 35.1% Worst banks for expired trial loan modifications without an answer. JPMorgan Chase – 45.3% Bank of America ... Read More »

We Tried Dealing With MyDebtHelpline and National Debt Advisors to Save The House. – Jessica

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“Dear Steve, I really hope that you can help me out. My brother has been falling behind on his rental property and tried to do a shortsale for the past several months. They had a buyer for the house at 285,000 but CitiMortgage’s appraisalwas for 345,000. Citi did not accept the offer and my brother just received the summons for ... Read More »

California Loan Modification and Foreclosure Scam Results in Four Arrested and Five Wanted

California Foreclosure Relief

California Attorney General Edmund G. Brown Jr. today announced that nine men engaged in a Southern California boiler room, tricked out in high-roller style with a roulette wheel and other casino equipment, have been charged with 97 criminal counts for stealing at least $2.3 million from more than 1,500 desperate homeowners who were promised loan modifications but received no relief. ... Read More »

We Are Out of Cash And Behind on the Mortgage. – Mike

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“Dear Steve, I am delaying the inevitable but soon must address my circumstances head on. My cash reserve has emptied and now must face what I’ve delayed for peace of mind the last year or so. I am slightly negative on 1st mortgage. I am extremely negative on equity line of credit and see no way to continue payments indefinitely. ... Read More »

Homeowners File Class Action Suit Against Bank of America for Not Helping Them With Mortgage Problems

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In a potentially wide-ranging lawsuit, two Seattle-area homeowners have filed a class-action suit against Bank of America claiming the bank has failed to work with owners facing foreclosure. Filed Tuesday, the potentially wide-ranging lawsuit alleges Bank of America failed to keep up its end of the deal cut with the federal government in early 2009 when it took $25 billion ... Read More »

Loan Modification is Broken

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This post is reprinted from the experiences of someone living through a current loan modification. I thought the first hand account was great to help others seem the frustration experienced by many. Get Out of Debt Guy – Twitter, G+, Facebook Illustration Credit: Steve Rhode First of all, I’d like to state how entirely demoralizing it is to seek financial ... Read More »

Foreclosure and Loan Modification Consultants Get Jail Time

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In a clear “warning shot” to unscrupulous loan-modification consultants, California Attorney General Edmund G. Brown Jr. today announced that two women have each been sentenced to one year in jail and ordered to repay dozens of homeowners who were charged thousands of dollars in up-front fees for non-existent foreclosure-relief services. Marianne Curtis, 69, of Costa Mesa and Mary Alice Yraceburu, ... Read More »

Loan Modification Scams, “There should be a special place in hell for people who prey on people who are down to their last dollar”

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The Providence Journal had a great article on mortgage loan modification scams. Here is an excerpt. “Richard Godfrey, executive director of Rhode Island Housing, said that Rhode Island, which has been experiencing “800 foreclosures a month, virtually for two years, unabated,” has been fertile ground for loan-modification scam operators. Typically, scam artists charge up-front fees, make promises that are too ... Read More »

My Mortgage Lender Said They Won’t Modify My Loan But Will Agree to a Short Sale – Lindsey

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Lindsey “Dear Steve, WE are in a house that has no equity. We owe 40,000 more than our house is worth. We are making our payments every month. We barley make it every month. My husband would like to go back to school but not possible because we dont have the money. My husbands boss said he is going to ... Read More »

Our Attorney is Advising Us to File Bankruptcy But I Don’t Know. – Andy

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Andy “Dear Steve, About four years ago, my wife lost her job. She was having difficulty getting a job and used credit cards hoping she could get a job soon and we could repay them. Unfortunately, when she finally did get a job about six months ago (earning about 40% of her previous income), we are buried in about 120K ... Read More »

ASB Capital Group and Allen Brodetsky Stand Up and Address a Readers Concerns

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I received the following email from Brad who wanted to share his story with you about his experience with ASB Capital Group in Tarzana, California. If you have a tip you’d like to share, email it to [email protected] In researching the company briefly online I found the following video which includes Allen Brodetsky in it. ASB Capital Group gives an ... Read More »

U.S Foreclosure Relief Banned From Foreclosure Relief Business

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Missouri Attorney General Chris Koster today announced that the operators of a foreclosure-relief business will no longer be allowed to do business in Missouri or other states, thanks to a court settlement with Missouri, California and the Federal Trade Commission (FTC). US Foreclosure Relief Corp., George Escalante, Cesar Lopez and Adrian Pomery are permanently banned from selling mortgage loan modification ... Read More »

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