Global Equity Solutions, a Florida mortgage modification company was recently shutdown by the State of Florida for performing illegal advanced fee loan modifications services. The problem is the company simply picked up stakes and took its tent across state lines to Kingland, Georgia and setup shop again. This time calling itself Peachtree Consultants Incorporated.
Probably most disturbing is the statement Peachtree makes on its site:
Outstanding Industry Reputation
We have helped thousands of hard working families such as yourself realize their dreams of home ownership at an affordable cost, securing them with a fair and affordable loan they can now afford. – Source
Peachtree Consultants Incorporated was registered to do business in Georgia on 9-27-2010 and the registered agent for the company is:
Brian Roy Lozito
612 North Lee Street
Kingsland GA 31548
By chance, she met an employee of a Middleburg-based loan modification company, Global Equity Solutions, who convinced her he could renegotiate the loans, which had originally totaled $146,000. Early on, she said, Global Equity representatives convinced her to stop making mortgage payments, because claiming a hardship would help her qualify for a loan modification.
Another client, Sandra Reed of Houston, said that Global Equity Solutions accepted her $1,900 upfront payment in February — after the new regulations took effect.
She called her mortgage company recently and found that her mortgage was still salvageable, despite the fact that she had stopped making payments on advice from Global Equity Solutions. She is now getting help and advice from a nonprofit foundation, she said, and her mortgage company has agreed to work with her.
“I feel totally violated,” she said after being told that Global Equity Solutions never contacted her mortgage company.
Global Equity Solutions President and CEO Brian Lozito could not be reached for comment despite repeated attempts.
The Office of Financial Regulation noted in a filing that investigators interviewed three Florida residents who had signed Global Equity Solutions agreements and had paid $1,895 in advance for loan modifications. The filing noted that, as in Reed’s case, the mortgage holders for the three had received no loan modification documents from Global Equity Solutions.- Source
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