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Is Home Remedy Center, Affiliated with Prudent Law Group, a Scam? – Alana

“Dear Steve,

I own a home and have a jumbo loan (over 700K) with 6.5% interest with Wells Fargo, and loan is with a private lender, not a Fanny Mae or Freddie Mac loan.

Wells Fargo refused modifying the loan or reduce theinterest. We are current on payments. I was contact by Home Remedy Center, affiliated with Prudent Law Group, attorney Pamela Gressier, stating that they can get my mortgage modified.

They requested all my information, loan doc, taxes, income, etc to see if Iqualify for a modification.

They claim that there is government money available for homeowners such as myself for modification to interest rates avaiable today, that would be much lower than what I am paying now.

They also claim that banks have violated laws which is why this government money is available and guidelines that would enforce our bank to modify our loan.

This is all guaranteed by the law firm, Prudent Law Group, Pamela Gressier in california. I am skeptical and aw are that there has been a lot of fraud and homeowners have been scammed out of money in hopes of lowering their monthly payments.

I have attempted to refinance with our bank however, due to the value of our home being equal to the loan amount (and not 80%) , we were rejected by our bank for a refinance. We are still trying to find a way to lower our interest rate however do not want to fall into the hands of a scam.

Is this law group, Home Remedy Center, affiliated with the Prudent Law Group, Pamela Gresssier, legitimate? If they approve our situation and feel they can modify our loan, they require anywhere from $3000.00 – $5000.00 upfront to proceed with the modification.


Dear Alana,

I don’t know what your definition of a scam is so I can’t specifically answer that question.

But what I can say is that it appears you are getting a sales job by a salesperson. I don’t know what state you live in but unless the company is licensed to practice law in your state or has connected you with a lawyer who is licensed in your state then you may not be able to represent you are your attorney.

Before you leap for any sales pitch when it comes to mortgage modification you need to be aware of several things.

Drive CarefullyFirst, there is no requirement for any lender to modify any mortgage if they don’t want to.

Second, you can talk to a government subsidized HUD Housing Counselor for free to discuss what your options are and what programs your lenders might qualify you for.

Third, there is this thing called the Mortgage Assistance Relief Services Rule that the Federal Trade Commission put out warning consumers to not pay for services in advance.

Finally, there are things you can do yourself. See the list of free resources below.

Mortgage Help

Be sure to first read How Not to Get Scammed by a Mortgage Loan Modification Company.

Debt-to-Income Calculator

First you’ll need to determine your current debt-to-income ratio. The target debt-to-income ratio under the Home Affordable Modification program is 31%. Use this free online DTI calculator.

Mortgage Modification Calculator

The mortgage modification eligibility calculator will ask you several questions and then show you which programs you may be eligible for.

The free mortgage modification calculator can be found here.

Free Mortgage Modification Help and Counseling

If you have questions about the process or eligibility you can call 888-995-4673 and get connected with an mortgage modification adviser for free. This help is provided by government subsidized HUD Housing Counselors and they can be a big help in navigating the modification process.

In order to assist you, the housing expert will need to gather some information from you. Have the following documents handy:

  • Information about your first mortgage, such as your monthly mortgage statement.
  • Information about any second mortgage or home equity line of credit on the house.
  • Information about the monthly gross (before tax) income of all household members contributing to pay the mortgage, including recent pay stubs if you receive them or documentation of income you receive from other sources.
  • Information about your savings and other assets.
  • Account balances and minimum monthly payments due on all of your credit cards.
  • Account balances and monthly payments on all your other debts such as student loans and car loans.
  • Your most recent income tax return.
  • It may also be helpful to have: A letter describing any circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.), if applicable.

You can also get free help and housing counseling from a local HUD approved counselor. You can find your local free housing counselor, here.

Contact Your Mortgage Company

Not sure if your mortgage company offers modification programs? Not all do. You can contact your mortgage company to ask them about mortgage modification programs you might be eligible for. Click here to find your mortgage company.

NPV Calculator

Want to know the net present value (NPV) of your home for the mortgage modification process? No problem, use the free NPV calculator to find out. The NPV calculator is right here.

The calculator can be used by homeowners who have been denied a HAMP modification because of their NPV result or can also be used by homeowners prior to applying for a HAMP modification to help them better understand the NPV evaluation.

No Advance Fees

The Federal Trade Commission has a Mortgage Assistance Relief Services Rule which prohibits advance fees for mortgage rescue services or mortgage modification help.

If you decide you don’t want to deal with this situation yourself and you are willing to gamble on hiring someone else to do it for you then I would recommend that anyone considering using such a company should read the following free guides.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 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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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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