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Tag Archives: loan-modification

Nine Companies in NJ Slammed for Offering Mortgage Loan Modification Help

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The Division of Consumer Affairs has mailed notices of violation to nine New Jersey-based companies that allegedly offered loan modification services to consumers without being licensed. The nine companies each were cited for violating the state’s Consumer Fraud Act for engaging in unconscionable commercial practices by allegedly offering to negotiate mortgage modifications without being licensed as a debt adjuster by ... Read More »

North Carolina Stops Foreclosure Scam by US Consumer Solutions and The Lamb Group

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A Kannapolis, North Carolina foreclosure rescue operation is barred from collecting any money from consumers for foreclosure assistance or loan modifications, Attorney General Roy Cooper announced Friday. [As you read this remember that US Consumer Solutions and The Lamb Group are tied together. Look for the bolded section below.] “Scammers entice struggling homeowners with false promises of lower mortgage payments, ... Read More »

I Was Thinking About Bankruptcy. Would This Have An Effect On My Loan Modification? – Tim

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“Dear Steve, I have worked in auto sales for the last ten years and things have really gone down hill over the last few years. I was just let go at the begging of Feb. and have been collecting unemployment. I’m two payments behind on my mortgage and have a huge amount of credit card debt and unsecured loan debt. ... Read More »

Jim, Charles and Cheryl Get Their Questions Answered on This Get Out of Debt Podcast

Here is the latest Get Out of Debt show podcast. Do You Have a Question You Want to Ask? If you have a credit or debt question you’d like to ask call 919-321-2378. Leave your first name and question and I’m happy to help you totally for free. Get Out of Debt Guy – Twitter, G+, Facebook Jim’s Caller Question ... Read More »

Bank of America is Dragging Their Feet on My Loan Modification and Citibank is Suing Me. – Angela

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“Dear Steve, I have been trying to work out a loan modification with my lender Bank of America for several months now. Bank of America granted me a 3 month forbearance to allow me to repair my home from Hurricane Ike damages. During that time, they asked me if I wanted to attempt a loan modification. I said, yes that ... Read More »

Peoples First Financial and FHA All Day in the News Again.

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Several loan modification companies made an appearance in a recent Atlanta Journal Constitution article, ‘Companies Promise Foreclosure Help, Don’t Deliver‘ about the dangers of loan modification or foreclosure rescue companies. Companies are facing both civil and criminal charges in different states for their actions which are generally considered to rip-off consumers by promising services these companies either can’t or don’t ... Read More »

Loan Modification Boiler Room and Success Rate Exposed

Responding to a just-released report that exposes the inner workings of a loan modification boiler room, California Attorney General Brown warned homeowners to avoid “shadowy and unscrupulous” loan modification consultants who use aggressive telemarketing tactics and charge thousands of dollars in upfront fees for foreclosure relief. The report, written by a court-appointed receiver, found that H.E. Servicing, Inc., a loan ... Read More »

Don’t Get Scammed By Dishonest Loan Modification Companies

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More news today about loan modification companies and the troubles people are having in paying them for help. “They convinced me they could help save my home and intervene on my behalf as a third party with my mortgage company,” said Mr. Briscoe, who bought his Tucson home in 2005. The company charged him $2,000 and told him he should ... Read More »

New York Attorney General Goes After Loan Modification and Foreclosure Rescue Companies for Screwing Consumers

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Attorney General Andrew M. Cuomo announced his office is taking legal action against a leading New York foreclosure rescue company for charging illegal up-front fees and engaging in consumer fraud. The company targets homeowners facing foreclosure by claiming that it can save their homes, but often fails to provide the services promised. The Attorney General’s Office served a notice of ... Read More »

I’m Trying to Get My Lender to Modify My Mortgage But They Don’t Seem to Want to – Debbie

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“Dear Steve, I was laid off from my job in April 2008. I have been collecting unemployment insurance and doing some contract work. I have a first and second mortgage and some credit card debt. I am not behind nor have been late on any of my obligations. I am not upside down on my mortgage in fact I have ... Read More »

Loan Modification Companies May Not Charge Up-Front Fees Says Florida Attorney General

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Attorney General Bill McCollum announced that his office has filed a lawsuit against an Orlando loan modification company alleging the company was committing foreclosure rescue fraud. Three Angels Community Action Network and company president Sherrard A. Haugabrooks are named in the lawsuit filed in Seminole County Circuit Court. The lawsuit specifically alleges violations of Florida’s Foreclosure Rescue Law, §501.1377. Members ... Read More »

California AG Takes Action Against Foreclosure Consultants & Loan Modification Companies

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Continuing his fight against scam artists who “prey on” vulnerable Californians, Attorney General Edmund G. Brown Jr. today issued a directive forcing foreclosure consultants to register with his office and post a $100,000 bond by July 1, 2009. Those who fail to do so will be in violation of state law, subject to criminal penalties of up to a year ... Read More »

Just Because Your Bank Modified Your Mortgage Doesn’t Mean It Will Stick

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A very interesting article on the Mortgage law Network appeared that you should be aware of. And banks are failing at an alarming rate. When a bank is taken over by the FDIC, the FDIC is protected by law from “side deals” made with borrowers which might tend to reduce the value of your loan to them. What does this ... Read More »

We’ve Got a Pay Option ARM Mortgage That is Killing Us. – Bill

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“Dear Steve, My wife and I where pursuaded by a friend in the mortgage business about four years back to refinance into a pay option ARM in order to help us pay off some of our other debt and now this mortgage is killing us. Our credit card debt is all but gone, however the mortgage payment has increased to ... Read More »

I Received a Mailer From Payment Reduction Service and Core Pac Solutions to Modify My Mortgage. – Charles

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Charles “Dear Steve, My mortgage is upside down, I am one month behind, I cannot qualify for a re-finance given my credit score. I contacted my lender to see if I qualified for the federal loan modification plan (countrywide/BOA) and they indicated that they will contact me if they think I qualify-no word. I got an unsolicited mailer advtertising a ... Read More »

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