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Tag Archives: mortgage modification

Sameer Lakhany & Precision Law Center Halted by FTC

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At the request of the Federal Trade Commission, a U.S. district court has halted an operation that took in more than $1 million by allegedly selling homeowners bogus mortgage relief and foreclosure rescue products, including a scam that falsely promised to get help for homeowners who joined others to file so-called “mass joinder” lawsuits against their lenders. This is the ... Read More »

We Can’t Afford Our House. Should We Hire Someone? – Bianca

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“Dear Steve, We are in foreclosure,My husband lost his job and my hours at work were reduced , so last year we started to negotiate with our bank to get into a loan modification, so far without success.Last year we did not qualified for any program because we were not behind in our payment and when we started missing our ... Read More »

Mortgage Problems? Facing Foreclosure? Prepare to be Scammed.

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The millions of desperate homeowners who have found themselves upside down and at risk of losing their homes have created a fertile environment for scamsters. The scams on homeowners are varied and include audits and NPV tests, modification services, foreclosure rescue services, sell and lease-back schemes, and my personal favorite, mass joinder suits. Let’s start with NPV tests and mortgage ... Read More »

Deceitful Debt Relief And Mortgage Operation Shut Down

A United State district court has shut down two related operations who apparently failed to provide promised debt relief services and jeopardized clients’ privacy by at the Federal Trade Commission (FTC)’s request. Apparently one firm charged consumers a $1,495 up front fee for a mortgage relief assistance program that was never given as well as tossing personal information into unsecured ... Read More »

I Have Stress and Cancer. I’m Also Struggling to Get Out From My Wells Fargo Mortgage. – Tarah

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“Dear Andy, I bought my house 4 years ago. My value has dropped over 100K. I live Maryland. My mortgage is Non-Conforming. I have attempted to refinances 2 and denied because of my appraisal. I also attempted to get a modification 2 times and the investor denied it both times. I am current on my payment, but starting to wonder ... Read More »

Mortgage Industry Hates Borrowers. Not Worth Helping.

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by Lois Beckett, ProPublica, Outgoing Federal Deposit Insurance Corporation Chairwoman Sheila C. Bair’s revealing exit interview by the New York Times’ Joe Nocera has generated plenty of buzz. But while the interview provided a comprehensive look at Bair’s role from 2006 to 2011, what caught our attention was her characterization of the foreclosure crisis. Bair said that the mortgage’s industry’s ... Read More »

I’m 70 Retired, With Some Health Issues and Trying to Get Chase Bank to Modify My Mortgage. – Lyn

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“Dear Andy, I’m 70, retired with some health issues. Have quite a lot of debt besides my condo on which I owe $29900, and its only worth about $49000 at the moment. When I purchased it in 2000 it was $118000. In 2003 I refinanced to bring the interest rate down to 5.75 and switched to a 15 yr. fixed ... Read More »

Modified Mortgages Still Not Honored By Lenders

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by Paul Kiel ProPublica Chanel Rosario was supposed to be one of the lucky ones. After years of sending and re-sending documents, waiting on hold and attending court hearings to avoid foreclosure on her Staten Island home, she’d finally received a much-needed reduction on her mortgage. Eagerly, she and her husband signed it and mailed it in last September. “We ... Read More »

I’m Trying to Get Mortgage Modification But Considering Credit Counseling or Debt Settlement As Well. – Sandy

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“Dear Damon, My credit is already ruined because I ‘m trying to get a modification on my mtg and haven’t paid my mtg since 11/2010. Want to get out of the 30k credit card debt too. Should I wait until the modification is over or do everything at once. Also should a use a consolidation company or use a debt ... Read More »

Should I Hire All State Law Group to Modify My Bank of America Mortgage? – Charles

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“Dear Andy, Tried twice to to get a modification with BOA with no success,have ask a law firm to help, but cant find any info on the firm Should I retain this law firm from calif. THEY WHAT THREE PAYMENTS ONE TO START, THEN ONE IN THE MIDDLE AND THE REST AT THE END. 1500-1000-500. Sr. Underwriter Toll Free: 866-887-4691 ... Read More »

Loan Litigation Mass Joinder Program Sales Scripts Revealed

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A tipster (send in your tips here) sent me the live answer and answering machine sales scripts that were suggested for people to use when selling mortgage modification, loan litigation, mass joinder products to consumers. – Source Below you will find some of the scripts that were recommended to be used to sell consumers on mass joinder cases. Some of ... Read More »

Mortgage Modification Re-Default Rates Are Horrible

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Based on new data out it looks as if the people who were actually able to obtain a mortgage modification are still in serious financial trouble. Moody’s released new data that showed the modified loans have not resulted in default avoidance. “We have found that a loan that is modified and [then] reported as current is three times as likely ... Read More »

FTC Announces New Advanced Fee Ban for Mortgage Assistance Relief Services

Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable. “At a time when many Americans are struggling to pay their mortgages, peddlers of so-called mortgage relief services have ... Read More »

Loan Modification Help Hotline – Debt Relief Television Commercial

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Commercial Name: Loan Modification Help Hotline Record Date: Retro TV Network/Channel: 11-8-2010 Description: Commercial is for mortgage modification help. 1-800-943-1416. Claims to be able to cut your mortgage payment in half and reduce interest to 1%. Picture of people at end makes it look as if it is a law firm but the small print says “Loan Modification Help Hotline ... Read More »

Bank of America and My Mortgage Modification. – Maria

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I like everyone else was laid off Jan 2009. Have been jumping through hoops to try and get a modification, in the mean time BOA put me on a partial payment plan that has put me 5 mos behind on my mortgage. I stopped that and went back to full paments Jan of 2010. My loan Sept 22 was placed ... Read More »

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