mortgage modification

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  Wells Fargo Turned Us Down for a Loan Modification

  Question: Dear Steve, Our mortgage adjusted to an obscene payment without prior notice As soon as we saw the new payment we immediately applied for a loan modification but were eventually turned down (with a nice offer...

  • Posted August 24, 2016
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  Mortgage Modification Company Sales Manager Facing Jail

  The Department of Justice announced that an Orange County, California, man pleaded guilty in U.S. District Court in Santa Ana, California, for his role as the sales manager of a multi-million dollar fraudulent mortgage modification scheme. Charles...

  • Posted July 19, 2016
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  Reader Calls Bullshit on “Keep Your Home” Mailer

  A very smart reader sent in a mailer they recently received. After they did some snooping around it set off warning bells. I’ll share their story and you’ll see what I mean. “I received this in the...

  • Posted February 24, 2014
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  I Have No Savings and Have to Juggle Payments Each Month. – Butch

  “Dear Steve, I am 64 years old, a teacher. Every year, my salary has gone done (forced furlough days). Bad divorce-impulsively took a second mortgage on my townhome to pay child support and attorney fees (13.9%!). Currently...

  • Posted June 11, 2013
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  How Not to Get Scammed by a Mortgage Loan Modification Company

  It’s easy to make you a victim and rip you off with a loan modification. People are willing to believe the wild claims companies make about being able to cut your loan balance or slice your interest...

  • Posted March 28, 2013
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  Where Can I Find a Legitimate Mortgage Modification Company? – Michael

  “Dear Steve, Can you recommend a legitimate Loan Modification company anywhere in New jersey? All I hear are horror stories about these types of companies, and dealing with the bank directly is a joke. Any recommendation would...

  • Posted March 9, 2013
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  How Can I Refinance My Mortgage With Chase? – Mark

  “Dear Steve, Mortgage is not supported by Fannie or Freddie. Was “self” funded by Washington Mutual (original lender). Now mortgage is held by Chase. Rate is 5.75. Any way to refinance. Does not seem any “Obama plan”...

  • Posted February 25, 2013
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  I’m Feeling Pressured by Wells Fargo on My Loan Modification. – Tom

  “Dear Steve, I bought a condo in Owings Mills, MD in 2006 at the height of the mortgage boom(fraud etc.) My name is the only one on the books. Married 1 child. Canadian Citizen. 196K Purchase price....

  • Posted January 14, 2013
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  How to Modify Your Mortgage for Free

  I’ve seen and covered so many mortgage modification scams that I wanted to show you how you can save yourself from being scammed, save thousands and modify your mortgage for free. Before you launch into paying anyone...

  • Posted January 2, 2013
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• Homeowners Getting Massive Mortgage Reductions Without Fancy Tricks

  Over the past few years there have been so many companies and people preying on homeowners in financial trouble. Wether it is the sale of a land trust, mortgage modification, mass joinder legal action against a lender,...

  • Posted October 8, 2012
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• Blank? Mortgage Requires Some Money Up-Front to Help me With My Mortgage. – Cindy

  “Dear Steve, Hi my name is Cindy. I tried several times to modify my mortgage loan to a lower monthly payment with my bank. Unfortunately, my bank dined me every time afterwards, they insist I try again...

  • Posted October 4, 2012
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• My Lender is Taking a Long Time on My Loan Modification. – Tenaz

  “Dear Steve, I still have issue with my Home lender because is taking such long time to get Loan Modification for almost One year and 8 months.Now recently in California has passed several bills protecting the Home...

  • Posted August 24, 2012
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  The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line

  It’s probably a bad idea to start off with a negative but here it is, people in the debt relief industry are going to hate this article. Even friends of mine in the industry will be bummed....

  • Posted August 14, 2012
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• How Can We Refinance Our Mortgage While I’m Unemployed? – Nicole

  “Dear Steve, Unfortunatly as I found out the HOPE program and all other programs will not modify your loan if you are currently on Unemployment benefits. What are options for people who are unemployed. I am working...

  • Posted May 21, 2012
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• Mortgage Modification Company Former Owner Facing 80 years in Jail

  Isaak Khafizov, a former owner of American Home Recovery (AHR), a mortgage loan modification business, was found guilty yesterday in Manhattan federal court of conspiracy, mail fraud, and wire fraud in connection with a scheme to defraud...

  • Posted May 18, 2012
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• Debt Relief Law Center Attorney Takes Cash to Modify Mortgages and Gets Disbarred Instead

  A Los Angeles attorney accused of misappropriating $1.1 million from 10 clients has agreed to be disbarred, the State Bar announced Wednesday. In one of the largest misappropriation cases ever handled by the Office of Chief Trial...

  • Posted May 3, 2012
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• Trying to Get Lender to Modify Our Mortgage Again. – Kay

  “Dear Steve, My husband and I bought a home in 2006, applied for a payment modification in 08 or 09 it was approved. My husband income has dropped this year and we’re now having a hard time...

  • Posted April 2, 2012
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• Sameer Lakhany & Precision Law Center Halted by FTC

  At the request of the Federal Trade Commission, a U.S. district court has halted an operation that took in more than $1 million by allegedly selling homeowners bogus mortgage relief and foreclosure rescue products, including a scam...

  • Posted March 22, 2012
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• We Can’t Afford Our House. Should We Hire Someone? – Bianca

  “Dear Steve, We are in foreclosure,My husband lost his job and my hours at work were reduced , so last year we started to negotiate with our bank to get into a loan modification, so far without...

  • Posted December 6, 2011
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• Mortgage Problems? Facing Foreclosure? Prepare to be Scammed.

  The millions of desperate homeowners who have found themselves upside down and at risk of losing their homes have created a fertile environment for scamsters. The scams on homeowners are varied and include audits and NPV tests,...

  • Posted October 8, 2011
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• Deceitful Debt Relief And Mortgage Operation Shut Down

  A United State district court has shut down two related operations who apparently failed to provide promised debt relief services and jeopardized clients’ privacy by at the Federal Trade Commission (FTC)’s request. Apparently one firm charged consumers...

  • Posted October 7, 2011
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• I Have Stress and Cancer. I’m Also Struggling to Get Out From My Wells Fargo Mortgage. – Tarah

  “Dear Andy, I bought my house 4 years ago. My value has dropped over 100K. I live Maryland. My mortgage is Non-Conforming. I have attempted to refinances 2 and denied because of my appraisal. I also attempted...

  • Posted July 22, 2011
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• Mortgage Industry Hates Borrowers. Not Worth Helping.

  by Lois Beckett, ProPublica, Outgoing Federal Deposit Insurance Corporation Chairwoman Sheila C. Bair’s revealing exit interview by the New York Times’ Joe Nocera has generated plenty of buzz. But while the interview provided a comprehensive look at...

  • Posted July 15, 2011
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• I’m 70 Retired, With Some Health Issues and Trying to Get Chase Bank to Modify My Mortgage. – Lyn

  “Dear Andy, I’m 70, retired with some health issues. Have quite a lot of debt besides my condo on which I owe $29900, and its only worth about $49000 at the moment. When I purchased it in...

  • Posted June 3, 2011
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• Modified Mortgages Still Not Honored By Lenders

  by Paul Kiel ProPublica Chanel Rosario was supposed to be one of the lucky ones. After years of sending and re-sending documents, waiting on hold and attending court hearings to avoid foreclosure on her Staten Island home,...

  • Posted June 2, 2011
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• I’m Trying to Get Mortgage Modification But Considering Credit Counseling or Debt Settlement As Well. – Sandy

  “Dear Damon, My credit is already ruined because I ‘m trying to get a modification on my mtg and haven’t paid my mtg since 11/2010. Want to get out of the 30k credit card debt too. Should...

  • Posted May 18, 2011
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• Should I Hire All State Law Group to Modify My Bank of America Mortgage? – Charles

  “Dear Andy, Tried twice to to get a modification with BOA with no success,have ask a law firm to help, but cant find any info on the firm Should I retain this law firm from calif. THEY...

  • Posted April 28, 2011
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• Loan Litigation Mass Joinder Program Sales Scripts Revealed

  A tipster (send in your tips here) sent me the live answer and answering machine sales scripts that were suggested for people to use when selling mortgage modification, loan litigation, mass joinder products to consumers. – Source...

  • Posted April 14, 2011
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• Mortgage Modification Re-Default Rates Are Horrible

  Based on new data out it looks as if the people who were actually able to obtain a mortgage modification are still in serious financial trouble. Moody’s released new data that showed the modified loans have not...

  • Posted February 8, 2011
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• FTC Announces New Advanced Fee Ban for Mortgage Assistance Relief Services

  Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that...

  • Posted November 20, 2010
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• Loan Modification Help Hotline – Debt Relief Television Commercial

  Commercial Name: Loan Modification Help Hotline Record Date: Retro TV Network/Channel: 11-8-2010 Description: Commercial is for mortgage modification help. 1-800-943-1416. Claims to be able to cut your mortgage payment in half and reduce interest to 1%. Picture...

  • Posted November 8, 2010
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• Bank of America and My Mortgage Modification. – Maria

  I like everyone else was laid off Jan 2009. Have been jumping through hoops to try and get a modification, in the mean time BOA put me on a partial payment plan that has put me 5...

  • Posted October 26, 2010
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• I Need The Name of a Credible Loan Modification Company. – Charlotte

  Charlotte “Dear Steve, I want to know how to find a credible loan modification company. Is there a list of fraudulent companies as to the consumer will know who not to do business with? I am having...

  • Posted September 15, 2010
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• Mortgage Loan Modification Profiles: In Trial Limbo

  by Karen Weise ProPublica, Download the audio. Listen to Michael and Concetta talk about the loan mod process. Last fall, Wells Fargo told Michael and Concetta Acevedo that after a three-month trial, they could get a permanent...

  • Posted September 1, 2010
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• Florida Attorney Thomas Dvorak Suspended for Mortgage Modification Complaints

  Thomas W. Dvorak, 633 S. Andrews Ave., Suite 402, Fort Lauderdale, suspended for one year, effective 30 days from a June 24 court order. (Admitted to practice: 2002) Dvorak will also pay restitution of more than $127,500...

  • Posted August 31, 2010
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• Loan Modification Profile: Fed Up, Giving Up, and Moving On

  by Karen Weise ProPublica, Today, 8:53 a.m. Download the audio. Listen to Wallace Farmer talk about the loan mod process. On a recent Friday morning, Wallace Farmer packed up and moved out of his Baltimore row house....

  • Posted August 24, 2010
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• Government Mortgage Modification Programs Still Not Working

  by Paul Kiel ProPublica, Today, 11:33 a.m. Each month, the Treasury Department releases new information about how homeowners in its mortgage modification program are faring. And each month, the numbers get bleaker. Take a look at our...

  • Posted August 23, 2010
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• Mortgage Loan Modification Problems. Delayed then Denied, Often Mistakenly

  Loan Mod Profiles: Delayed then Denied, Often Mistakenly by Karen Weise ProPublica, Today, 10:09 a.m. Download the audio. Listen to David Moe talk about trying to get a loan mod. Retired pastor David Moe describes the process...

  • Posted August 18, 2010
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• Debt Settlement Not Singled Out for Advance Fee Regulation. MARS Hit as Well.

  Here is a very interesting letter from the National Association of Attorneys General regarding new proposed rules by the FTC for mortgage assistance relief services (MARS). The loan modification industry has be filled with deception and abuse...

  • Posted August 9, 2010
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• Hope Now Financial, Hope Now Modifications, Salvatore Puglia and Nicholas Puglia Agree to $5 Million Dollar Settlement With New Jersey Over Loan Modification Fraud

  New jersey Attorney General Paula T. Dow announced today that a New Jersey loan modification company and its owners have agreed to a judgment of $5,051,253 to settle civil charges they defrauded homeowners who sought help in...

  • Posted June 30, 2010
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• FTC Hits Mortgage Relief and Foreclosure Rescue Scams Hard

  As part of the agency’s continuing crackdown on scams that prey on financially distressed homeowners, the Federal Trade Commission announced legal actions against more than a dozen marketers accused of pitching bogus mortgage modification or foreclosure relief...

  • Posted June 17, 2010
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• Trail Loan Modifications Trash Credit Report and Credit Score

  Carolyn Said of the San Francisco Chronicle wrote an excellent article “Loan modifications often damage credit scores” that covers the reality of the damage that occurs to credit from a loan modification. Here are some excerpts. You...

  • Posted May 24, 2010
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• Homeowners File Class Action Suit Against Bank of America for Not Helping Them With Mortgage Problems

  In a potentially wide-ranging lawsuit, two Seattle-area homeowners have filed a class-action suit against Bank of America claiming the bank has failed to work with owners facing foreclosure. Filed Tuesday, the potentially wide-ranging lawsuit alleges Bank of...

  • Posted May 7, 2010
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• Foreclosure and Loan Modification Consultants Get Jail Time

  In a clear “warning shot” to unscrupulous loan-modification consultants, California Attorney General Edmund G. Brown Jr. today announced that two women have each been sentenced to one year in jail and ordered to repay dozens of homeowners...

  • Posted April 9, 2010
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• Loan Modification Scams, “There should be a special place in hell for people who prey on people who are down to their last dollar”

  The Providence Journal had a great article on mortgage loan modification scams. Here is an excerpt. “Richard Godfrey, executive director of Rhode Island Housing, said that Rhode Island, which has been experiencing “800 foreclosures a month, virtually...

  • Posted April 8, 2010
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• My Mortgage Lender Said They Won’t Modify My Loan But Will Agree to a Short Sale – Lindsey

  Lindsey “Dear Steve, WE are in a house that has no equity. We owe 40,000 more than our house is worth. We are making our payments every month. We barley make it every month. My husband would...

  • Posted April 4, 2010
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• ASB Capital Group and Allen Brodetsky Stand Up and Address a Readers Concerns

  I received the following email from Brad who wanted to share his story with you about his experience with ASB Capital Group in Tarzana, California. If you have a tip you’d like to share, email it to...

  • Posted March 24, 2010
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• Loan Modification Company Operating Out of Mailbox at UPS Store is a Scam

  Federal prosecutors have indicted two San Diego men featured in an ABC News investigation for their role in allegedly defrauding desperate homeowners trying to modify their mortgages. Investigation uncovers businesses posing as something they’re not. Glenn Rosofsky...

  • Posted March 24, 2010
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• U.S Foreclosure Relief Banned From Foreclosure Relief Business

  Missouri Attorney General Chris Koster today announced that the operators of a foreclosure-relief business will no longer be allowed to do business in Missouri or other states, thanks to a court settlement with Missouri, California and the...

  • Posted March 24, 2010
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• I Have Been Battling Lung Cancer And Struggling With My Mortgage. – Andy

  “Dear Steve, Although I have never paid a bill late, I have been unable to continue my one-person business since I became ill one year ago. I have now received treatment for lung cancer, but have had...

  • Posted February 24, 2010
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