Real Estate Law Center and Chad Pratt Say They Can Go After My Previous Lenders. – Jana

“Dear Steve,

I received a mailer from Chad Pratt and while doing my homework, I saw some of your articles about him from other people, but I think this is a new scam.

I already received my home loan modification through Nationstar Mortgage and when I told them that, the man I spoke with George Michaels (can you believe it? Wham!) said that my previous mortgage holder Aurora and Nationstar already admitted guilt in a 2012 court hearing and that they didn’t give me everything I should have received in my modification since my original loan (with Valley Vista Mortgage) was predatory and there was appraisal fraud involved.

That part is probably true. But he tells me right now my place would appraise at $103,000 less than I owe, which doesn’t sound right to me since a condo smaller than mine just sold for $390,000.

I am sure there was appraisal fraud at the time because it was refi”d in 2007, before everything changed, but he says that accordi ng to 3 comps my place appraises at $277,261 and that their law firm can make Nationstar reduce my principal balance to that amount, PLUS get me a cash settlement which they would of course take 30% of.

It sounded good, then he called the next day after his research explaining all of this to me, including a messed up version of the MERS law and said to proceed they need $3000. I asked how long this would take and he said 90 days and he assured me I would win because they have already accepted bad loans and they don’t want the FBI hanging around their offices.

My loan was a hard money loan, not a Fannie or Freddie and he asssures me I have a winning case and said Nationstar already sold my loan again and are just “the servicer” of my loan now, but I didn’t receive any paperwork indicating that as a fact. He kept saying it’s an “active MERS loan” and something about my promissory note not being attached to my loan….is that possible?

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Is there any such thing as a MERS loan?

Was there really a law suit against these lenders and is it truly possible with this type of loan to get my principle reduced because of appraisal fraud and having a hard money loan, or MERS loan through a bank?

The documentation is the same form you had in a previous question with Chad Pratt:
Real Estate Law Center PC
30 N Raymond Ave #PH
Pasadena, Ca 91130

and it was Homeowners VS Valley Vista Mortgage


proceed slowly and carefully on the road

Dear Jana,

Frankly it just sounds like they modified their sales pitch based on the information you gave them about your mortgage already being modified.

I’m not familiar with ANY of these mass attempts to go after lenders that has been successful. I’ve certainly not heard of anyone receiving the benefits most of these mortgage assistance sales outfits are claiming.

Just logically, the sales pitch makes absolutely no sense to me. MERS Law?

What do you say you proceed with some detached caution and let’s play along.

You might want to call the sales representative back or email him and let him know you’d like to research this some more. Ask him to forward to you any such court document they have obtained that shows they received these claimed benefits for a client of theirs.

Since court records are public records it’s not like we are asking for anything confidential here.

Also ask them how they sell their services for an advance fee when the Federal Trade Commission Mortgage Assistance Relief Services Rule says that no advance fee can be charged. They will probably tell you it is because they are attorneys. If they say that ask them then, if the are so confident they can deliver what they are claiming to and have experience doing it that a contingency arrangement, where you pay when they deliver the results, should be no problem then.

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I’d like to see the material they sent you. Please upload it to me here.

I would recommend that anyone considering using such a company should read the following fee guides.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
  3. How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off

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


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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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6 thoughts on “Real Estate Law Center and Chad Pratt Say They Can Go After My Previous Lenders. – Jana”

  1. Please anyone who is considering signing up with them, learn from our experience. We got our money back by filing a complaint with the Bar Association. Just file your complaint with them and get your money back. They don’t win cases. They just file and make lots of money doing it. They don’t prequalify cases or take the statutes of limitations into account. They just take your money. There were other people who filed and got their money back too.

  2. Disciplinary charges have just been filed against Chad Pratt on the California State Bar website, their BBB complaints are beginning to show, the scam is beginning to unravel. Don’t get suckered into it like I did, run away if you hear anyone talking about mass tort lawsuits.

  3. This is a scam, Real Estate Law Center is currently in the mass joinder and forensic loan audit fraud business. They make pormises to help you save your home, they tell you to stop paying your mortgage and to pay them instead. They cannot deliver results, they are only interested in making a buck off of distressed homeowners- and they really do not care. Please do not give away your hard earned money to these people, they will be in even greater danger of losing their home.

  4. My parents are being contacted by Leyton ward promising them money from a lawsuit against Wells Fargo, my parents can barely make their mortgage payment and this attorney is asking for 5,000.00 from them. Im worried that this is a scam and would like to know if this is so before they give away the only savings they have left.


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