I am currently working with Preferred Law, in Sandy, Utah. I noticed many negative remarks concerning their business practices. They are supposed to be helping me with issues regarding my Loan Modification from Aurora Bank that was totally approved. A few weeks after the approval and continued making payments, Aurora sold the account to NationStar Mortgage which NationStar would not accept the approved Loan Mod Contract.
I went on the web to seek help and was contacted by Preferred Law.. They assured me that they could help resolve the issue for a fee of $4400.00 and that my Aurora Loan Mod would be accepted by NationStar.
I was hoping to be able to speak with you as to what to do to get some honest help.
Preferred Law does not send any kind of correspondence or contract or do they call and notify me of what current process is happening.
I am on limited income, $1700.00 per month, and had to stop mortgage payments to pay their fee.
Phil Hanley, of Preferred Law, says that I should not worry, that NationStar is behind processing all the Aurora contracts they sold to NationStar. and that they sent my Loan Mod Contract to an outside Attorney to change the info to NationStar from Aurora Bank. Was also told that there was no current contract until the attorney completed the change of the names. So there was no way to know how much the payments would be. Also assured me that NationStar would roll the behind payments to the end of the loan.
I have not had any contact with either NationStar or Preferred Law except my contacting Phil Hanley a couple of times. I have just faxed concerns that I have with this situation. I asked for a complete accounting of my account and any correspondence from NationStar.
I would appreciate any and all help you might be able to impart to me.
I can appreciate your concern here. I’d be concerned as well after having invested so much money.
I’m a little perplexed why you would be charged so much additional money though. If the loan modification was approved by Aurora Bank prior to the sale of the portfolio then NationStar would have purchased the loan subject to the modification.
It also sounds like the other issue here is one of absent customer service. It seems you’ve been left out of a tight channel of communications and that leaves you worried and concerned.
In situations like this in the past when people speak up, some companies have bailed on them and said something like “Well if you can’t trust us then we don’t want you as a client anymore.” Of course that’s just an escape position and not reality.
Since Preferred Law is unwilling or unable to put communications in writing, that concerns me as well. I’m left wondering why not.
But as a consumer who has paid good money for a service, you should be entitled to a complete accounting of the status of your account. In fact you should ask for a copy of the document Aurora Bank signed where they accepted the loan modification and then contact NationStar and show them the letter.
I would urge you to contact Preferred Law and ask for some straight answers and to provide you with proof of the date that Aurora Bank accepted the loan modification. If they are unable to provide you with satisfactory information, come on back and update me in the comments below.
Please post your responses and follow-up messages to me on this in the comments section below.