Question: Dear Steve, We live in MN and have a first mortgage $273,000 and a second mortgage $37,000. The value of our house is maybe $250,000. Our interest rate is 4.5%. Our real estate taxes are separate from our mortgage payment not rolled in. We are talking to a debt arbitration company: The Jefferson Legal …
On June 9, 2015, a federal jury convicted three California residents who worked at a Rancho Cucamonga, Calif., business that offered bogus loan modification programs to thousands of financially distressed homeowners who lost more than $7 million when they paid for services, including loan modifications, that were never provided. The three Southland, Calif., residents were …
The FTC alleged that since early 2011, the defendants claimed a phony affiliation with the U.S. government, pretended to be attorneys, and promised to substantially lower monthly mortgage payments in exchange for an up-front fee ranging from $1,495 to $4,495. Along with two companies he controls – American Mortgage Consulting Group, LLC and Home Guardian …
As far back as early 2011, the GetOutOfDebt.org site has been publishing information about and warning consumers about suspicious and concerning practices by a number of interrelated companies promising financial help and foreclosure relief. These schemes were not uncovered by the site alone. Readers and insiders also sent in critical information that led to the …
The Federal Trade Commission has announced some sweeping actions to protect homeowners that have been harmed by companies promising mortgage assistance but who allegedly only took money and ultimately didn’t deliver the help and outcomes promised. Prime Legal Plans/Reaching U Network. The FTC alleged that from at least mid-2010, the defendants behind this scheme marketed …
It appears the Consumer Financial Protection Bureau, under Enforcement Director, Kent Markus, is finally taking the gloves off and going after debt relief groups. This action moves against a law firm and lawyer that was working with outside parties to sell advanced fee loan modification and foreclosure resue services. According to Loeb & Loeb, “The …
At the request of the Federal Trade Commission, a U.S. district court has halted a nationwide scam operating from the Dominican Republic – but pretending to be in Chicago – that allegedly peddled fake mortgage assistance relief to financially distressed Spanish-speaking homeowners in the United States. The defendants promised to dramatically lower homeowners’ monthly mortgage …
At the request of the Federal Trade Commission, a U.S. district court has halted an operation that allegedly preyed on financially vulnerable homeowners, convincing them to pay $1,995 or more by holding out bogus promises that they could help them avoid foreclosure and renegotiate their mortgages. The complaint was filed against Consumer Advocates Group, Paramount …
“Dear Steve, I saw your postings regarding SC Law Group and was curious. The person I talked to over the phone seems knowledgeable of mortgage modification. I have provided them info regarding my financial documents (bank statements, mortgage statements, and employer pay stubs). I needed to pay an upfront fee (several thousand) for the loan …
Efforts to quash mass joinder marketing are picking up steam. On the heels of last weeks raid and seizure of some attorney office in California, Arizona is getting into the game by issuing this warning. Attorney General Tom Horne today issued a warning to consumers to be wary of any notices or advertisements that claim …