Comments on: Illegal Loan Modification Companies: Welcome to the hottest business since subprime!

By: Bob Collins

Bob Collins — Tue, 17 Nov 2009 23:13:23 +0000

There are many companies making claims to fight for you. The fact is you either fit within the program or you don’t. docprep usa helps homeowners do that without sticking their hand in your pocket. They are results driven. Yes it does take months to get a Modification completed with some lenders however if the numbers aren’t disclosed correctly you will have spent thousands of dollars, with those companies that make false claims, to find out you are not able to get modified. This is the problem most consumers have, first the infomation provided to the lender is either overstated or understated, second sometimes homeowners can cut back on expenses to make sure they qualify. I suggest that if a homeowner has been quoted an enormous fee for that companies services, they should move on and find a company that helps them understand what is required for the homeowner to have a positive outcome.
I did my modification on my own home and had a great outcome, I cheated, I have been in real estate for over twenty years, a real estate broker and been in the mortgage field just as long. That’s why I recommend DocPrep USA.

By: kim

kim — Tue, 10 Nov 2009 13:30:45 +0000

I went threw a loan modification company in march pd 2900,00 and still no word on our modification .. they keep telling me it takes time 8 months and still waiting is it because i live in michigan ,,, this company is really making me mad and they have been in contact with my lender . what i don’t understand is why so long they have every thing !!!!!!

By: rose

rose — Thu, 05 Nov 2009 04:54:55 +0000

Dear Moe, My advice to all who read this would be to beware of anyone claiming that they can do better then you at negotiating with your lender. I paid $3,000 to “Help Modify Now” out of Newport Beach, California last April and am afraid that I have become yet another victim of the ultimate rip off. This company is part of a law firm that specialized in dept consolidation, bankruptcy and other consumer law services. Another name they are using is “Consumer Resource Law Services”. I was referred to them by someone I trusted and was told that they could negotiate with my lender. They guarenteed me that they would get results or refund my money. What a joke that turned out to be. For the last 6 months I have been given the run around and like the nice understanding person I am, I have been waiting patiently. That is until on October 3rd, when after not hearing anything for several months, I sent an email asking for an explanation of what was going on. I was told by my worker, Jaci, that the lender was having technical difficulties with the software for the new program she wanted to qualify me for and that she would be trying again in 2 weeks. I had spoken to Jaci, exactly 3 times in the past 6 months and this was basically the same thing she had told me each and everytime. So I sent her a reply saying that I didn’t pay her company $3000 to get the run around and that I wanted someone to call me. Her response was that my lenders inability to follow through on what they tell her has kept her from moving forward with the modification and that I should call my lender to see if there were any updates. (Isn’t that what I was paying her to do?) I sent another email telling her I needed a phone call and that I needed results or I needed my money back. Guess what, that was the last I ever heard from her again. I have tried repeatedly to reach someone at that office. I have left messages on the general mailbox, the customer service mailbox, Jaci’s mailbox and no calls have been recieved by me from anyone. And that person I trusted who referred me to this company, well he and all his contacts have left the company. What does that tell you? Yeah, well it looks certain that I’ll be saying bye bye to that $3,000 bucks. But there are other ways to skin a cat. Complaints to the State Bar Association and the Federal Trade Commission are but a few.
So now that I have fired “Help Modify Now”, I did call my lender and after just one phone call I am way ahead of where I was and am being qualified for one of their programs.
My advice to everyone, don’t pay for loan modification until you have first tried every recourse with your lender. Even legitimate modification companies have a full work load and will put you at the bottom of the pile. If you do it yourself it might take some work and a try, try again attitide, but it will save you from falling victim to one of the many vultures who prey on the down on their luck homeowner.

By: Franco

Franco — Thu, 01 Oct 2009 21:00:04 +0000

Can anyone confirm that Platinum Legal Services is on the up and up? Are they legitamate?

By: cici

cici — Wed, 30 Sep 2009 05:48:42 +0000

PRODIGY LAW GROUP FROM IRVINE, CA IS A SCAM. THEY IGNORE THEIR CALLS, NEVER FINISH A MODIFICATION AND DON’T SEEM TO KNOW WHAT THEY ARE DOING AND DONT SEEM TO CARE EITHER. MANY CLIENTS ALMOST LOSE THEIR HOME AND HAVE TO CALL THE LENDER TO SAVE THEIR HOME THEMSELVES!

By: Debt Settlement Group

Debt Settlement Group — Fri, 25 Sep 2009 02:30:35 +0000

Performing due diligence is the key to securing a Loan Modification company that will represent and negotiate on your behalf.
Unfortunately integrity is a quality that cannot be purchased. One negative experience affects the entire industry.

I employ twenty people that had to undergo background checks. The management is the key to how the employees conduct themselves.

The lending institutions who have received bailout money are the ones who are abusing the customers. They are still attempting to collect arrears on customers trying to receive a loan modification. The customer is forwarded to the collections department when attempting to process thier own modification.

Check the facts.

By: Lydia

Lydia — Fri, 25 Sep 2009 00:27:34 +0000

My husband and I paid American Loan Modification 3500 to get our loan modify, they told us it will take 60 to 90 days, well it has been almost 6 months and now they need us to resubmit the paperwork meanwhile I got a notice of trustee sale because American loan modification told me not to make my payments to speed up the procces, if the mortgage company saw the payment were made they will not modify it. Anyway now after calling them every day they told me that is nothing they can do and ” good luck on trying to get my money back.

By: Vanguard Modification & Associate,LLC

Vanguard Modification & Associate,LLC — Tue, 22 Sep 2009 00:54:02 +0000

If you truley would like some positive results from a Home Loan Modification, feel free to visit our website and do your homework. We only want the max available outcome for our clients. Well take care and God Bless, hope to hear from those who want help.

By: Ed

Ed — Mon, 21 Sep 2009 23:23:35 +0000

I’m currently in discussions with a company called National Loan Restructuring, LLC out of West Palm Beach, Florida. They are asking for $3500 up front to do a financial audit on my mortgage. They are claiming that they will be able to negotiate a reduced principal balance (about $30K off of the principal) and a reduced interest rate (from 6% to about 3%) for the next 5 years. They are indicating that it is guaranteed, or money back!! Does anyone have any experience with this company? Is it worth it?
Thanks,
Ed

By: Christina

Christina — Sat, 19 Sep 2009 21:59:28 +0000

I did not read all of the comments but the ones I did read tell me AMERICAN LOAN MODIFICATION is a SCAM! My husband give them $3,500 up front Aug 11, 2009. I knew it! I have been investigating on my own and I see all these comments. My husband made a big mistake! now we are paying for that and now going to work directly with our lender. I am going to report AMERICAN LOAN MODIFICATION to the Attorney General. The guy took off with his money but kindly left a message to my husband that if he needed anymore assistance to call the office. When my husband called the office they want him to refax ALL the documents he had already given this guy named George. Nice business cards and everything. BEWARE LAS VEGANS!!!!