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Mortgage Mailer is a Sales Job to Sell You a Lie

“Dear Steve,

Received this mailer offering to reduce my principal by $75k and get me a 2% interest rate. Has NO name, address, fax, or website. Phone # 877-264-8115. When I Googled that #, your site came up as evidently someone in the Comments section mentioned a solicitation with that #.

It’s disturbing that an attorney’s office can violate so many laws without being held accountable. Not to mention if they are stealing people’s money they should serve time. I didn’t call, so all I can do is allege. I have no idea who they are.

Thank you for your service.


Dear Kayla,

Thank you so much for sending in the mailer you received.

Let’s take a closer look at the self mailer you received from Santa Ana postal permit 775. The mailer makes it look as if this is an official government mailer. It is clearly indented to deceive consumers into thinking this is about a government program.

The mailer uses the HUD logo and something that appears to be an official seal of the U.S. It also mentions President Obama and the Homeowner Affordability and Stability Plan.

The mailer then contradicts itself by mentioning both the Homeowner Affordability and Stability Plan and an unrelated settlement.

Screen Shot 2013-03-17 at 3.02.19 PM

Fooled consumers will open the mailer and read a sales message to get them to buy the services of some company or law firm. Although that is not disclosed in the mailer.

The mailer says consumers should contact the Consumer Advocacy Hotline. Can you think of a more generic name? And speaking of names, notice how the mailer never gives you the name of the entity that is sending the mailer.

While the front of the mailer mentioned some billion dollar settlement fund, the inside of the mailer turns back to the Homeowner Affordability and Stability Plan.

It also claims to be presenting the recipient with new terms for their mortgage and urges them to call 877-264-8115 to “confirm eligibility.” This of course would be ridiculous since the number most often leads to a sales person that is trying to sell some sort of mortgage reduction program.

Consumers need to be aware that the FTC Mortgage Assistance Rescue Services rule makes charging advance fees for mortgage help, off limits.

The mailer then goes on to say people who have experienced the following issues should call:

  • Declined modification or ignored by your current lender
  • Behind in payments, lender trying to foreclose on you
  • Negative equity in your home
  • Adjustable rate, negative amortization, or stated income loan
  • Sub prime or predatory financing

Again, could it be any more generic?

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Typically such mailers are sent from data gathered from public records or by purchasing a mailing list from the credit bureaus.

The only thing we can be certain of about the mailer is that it is an offer to sell you something you may not need to pay for.

Instead, if you are having mortgage troubles, pick up the phone and call a free HUD Housing Counselor to get the facts about the real programs that are available for you.

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

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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