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Advanced Professional Network Has Left Me With a Bad Feeling. – Anna

Written by Steve Rhode

“Dear Steve,

I am delinquent in my mortgage and am having trouble making payments. I have signed up with a company called Advanced Professional Network who have put me in a loan modification dropping my mortgage payment about $400.

I was so relieved that someone was helping….but now I’m second guessing and have a bad feeling about this company. The did not ask me for any fees; they said they would be contacting my mortgage company directly. And advice???

Can you tell me if this was a big mistake and if I can cancel this agreement with them if they are not reputable?

Thanks,
Anna”

Dear Anna,

I went and looked at the website for Advanced Professional Network at advancedprofessionalnetwork.com. Their website is void of anything meaningful or helpful. They don’t even say what state they are registered to do business in.

But if I chase down the domain name ownership it says the domain name is owned by:

Pejman Pirmoradi
Advanced Professional Network
27068 La Paz Road
#132
Aliso Viejo, California 92656

Screen Shot 2013-05-30 at 1.05.50 PM

It looks like that address is actually a UPS Store. – Source

I searched the State of California records and could not find a company that was registered to do business under the name Advanced Professional Network.

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. 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

I have no idea what type of agreement they may have secured for you. Is it just a temporary modification? What are the terms?

If you want me to review any agreement you signed, you can upload it to me here.

Review of Advanced Professional Network Agreement

I subsequently received the agreement and below is my plain language review of the agreement. I am not a lawyer and I’m just posting my observations based on what the agreement says.

Page 1

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According to the agreement the consumer lives in Connecticut. I have contacted the Department of Banking in Connecticut they have confirmed the company is NOT licensed to offer debt relief service to Connecticut residents.

The agreement is actually not for a mortgage modification. According to the agreement it is for “an analysis of real estate debt and income, as well as examining the potential for restructuring and lowering the borrower’s general debt and real property secured debt, or any other loss mitigation options that best benefit[s] the Client.”

The debt restructuring, if any, is farmed out to a company called ModStart.

There are no guarantees that a lower interest rate, reduced mortgage payments, or any other reduction is available.

The company does not guarantee their performance. No refunds are available except under the following situation. “The Client may only be entitled to a return of the remaining portion of unallocated service fees if all the terms and conditions of the Agreement have been met and only at the sole discretion of the Company.”

Any disputes must be settled by arbitration in Orange County, California.

Page 2

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ModStart is located at:

522 Hunt Club Blvd
Suite 178
Apopka, FL 32703

And guess what, that’s the address for another UPS Mailbox store. – Source

According to the State of Florida website there is no company registered to do business in Florida under the name ModStart.

Page 3

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Page 4

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The agreement charges $3,268 and charges fees ahead of the consumer getting a full and final modification agreement accepted by the lender. This appears to violate the Federal Trade Commission Mortgage Assistance Relief Services Rules about no advance fees.


Here are some free mortgage modification resources to use.

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

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.




About the author

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.

12 Comments

  • Hi! We actually signed the contract with APN and also agreed to have the funds removed from our account each month. I honestly thought this was my bank contacting me and I feel like a complete fool. I do not understand how they received my information to even contact me. I completed a form on my mortgage lender’s account for a relief program, sent them all of the required documents and then I received an email from APN stating they are my assigned case manager for our mortgage. I had just done everything for my bank so I just thought this was the next step. No funds have been removed from my account as of yet. Any advice as to what I should do now? I’m going to contact my mortgage company on Monday and inform them but in terms of this contract that I signed and that you have posted above, could they take me to court for any reason for no payment? My next thought is to possibly change my bank account number as well. Any advice and guidance would be greatly appreciated. Thank you!

    • I think I just answered my own question. If they are committing fraud, they can not take me to court. duh. I am currently working with my financial institution to make sure they are unable to remove these funds from my account. Complete disappointment. But glad that I figured this out before they received any funds from me.

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