What Do You Think About FinancialHotline.Org and StayInYourHome.Org? – Marilyn

“Dear Steve,

I am on permanent disability, in an upside down mortgage, purchased house in 1978, combined 1st/2nd mortgage 1992, divorced, refi 125% mortgage 2005, house overappraised 2005, unfairly fired from job in 2008 ending 36 year career as xray tech, $45,000 in unsecured debt which will most likely resolve by Chap7 BK Jan 2012. Income total $2175/mo, mortgage payment $1496, in 2nd month of mort. mod/forbearance program (temporary-the only kind HSBC does). Unable to refi or get FHA loan (too little income).

After awarded disability in Jan 2011, paid HSBC $15,000 to get current on mortgage, but in April 2011 HSBC raised mortgage payment from $1401 to $1684 because they said ins and taxes went up. Taxes same from 2009 to 2010, ins went up $168/YR.

In current mod rat dropped 6.5% to 5.25% and payment dropped from $1684 to $1496, not enough to help.

They refused to lengthen loan or reduce principle even though house value is (my guess) only $100,000. I know I will not live long enough to pay mortgage (I am currently 59), so what I need is a way to lower my payments. I cannot leave for rental because I cannot take my three rescue dogs into any rental property I have so far inquired about (dogs over 50lbs), and if I surrender dogs they are unadoptable and they would die, and they are very important to me, they are my children (no human ones). No family or friends who can help me. I asked previous question several months ago but never received notification it was answered.

I was contacted by phone by a company identifying itself as Mortgage Services. I talked to the company, who has two different phone numbers and two different websites 1) stayinyourhome.org phone# 877-312-1214, 2) financialhotline.org Phone# 877-621-9079.

I spoke to Luis Garcia, the “compliance director”, and he made several statements and promises which made me wary, so I did not proceed. 1) company’s program with an upfront cost of $595 and $199/month until my loan was modified usually within 4months, at a permanent monthly payment of $695 2)he promised me that he got excellent results because he knew the President of HSBC 3)I had to make my decision within 24hours 4)his company’s program offered CREDIT REPAIR and debt settlement guaranteed at 20% 5)an ownership express program, or short sale buyback, where a “private investor” purchased the mortgage and I rented from that investor until I could purchase the prope rty at a “fair market value” 6)if the company could not get my loan modified (he knew I was currently in a modification program) they offered “steep discounts” to allow me to sue the lender.

I have read about “deal for lease” and “deed in lieu of foreclosure” options, and recently came upon a new term “retention options” with the mortgage company. I am currently trying to find a local real estate lawyer who is experiences in foreclosure and loan modifications, but paying for help beyond a free consultation on my limited income is problematic.

I wanted to get your thoughts on this company and if it could possible be real and not too good to be true. I have no idea how to check out such online companies other than BBB reviews, and I am checking the only address I could find on the two websites. Sorry for the length, thank you for taking time to read it.

You do great work and provide an invaluable service to your readers.


Dear Marilyn,

As I write this I know nothing about the websites you mentioned. But what I do know is that the benefits they were selling you on raise my concerns tremendously. You know what they say about something that sounds too good to be true.

The lease back solutions have also been the subject of regulator warnings so I’m cautious about those claims as well.

Deals that let you stay in your home – Some foreclosure rescuers will offer to bring your mortgage up to date and let you stay in your home until you can pay them back. The scammer “bails you out” by helping get rid of your house. The way the scammers get rid of your house varies, but each method ends with you surrendering the title to the house on the promise that you can stay on as a renter and buy the house back once things have been “fixed.” The scammer usually sets the rental price at a level that you cannot afford, and then they evict you for failure to pay the rent. In the end, of course, you can’t buy the house back and the scammers get most, if not all, of your equity.

Bait and switch/fraud – Some foreclosure rescuers will simply lie about what they will do for you. The scammers will tell you that you are signing documents for a new loan that will solve your problems. In reality, you are signing forged documents that will give the scammers ownership of your home. To make matters worse, you will still owe for the mortgage but will no longer have the home.

I took a look at the websites you gave me and have worries. The StayInYourHome.org site does not list any information I could find to invade where this company is located.

I did however find an address attributed to them on another site, my membership.org.
41856 Ivy Street
Suite 103
Murrieta, CA 92562

It looks like the sales pitch here is a membership program.

FinancialHotline.org certainly appears to be similar to the other site in design. This site at least lists their contact information.

They say they are located at:

12345 A Street
Erehwon, CA 92562

A search of Google Maps could not locate that address.

The zip code listed is actually for Murrieta, California and StayInYourHome.Org knew enough to list it correctly for their zip, but not on their site.

I do see that I did write about FinancialHotline.org before in this article.

All I can say for certain is that a bunch of stuff I feel should add up, doesn’t. I’d strongly suggest another opinion from another provider before you do anything.

And I checked with the BBB site and there was no company listed for either domain name.

Please post your responses and follow-up messages to me on this in the comments section below.


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Steve Rhode

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