Comments on: Predatory Loan Modifications: Ex-Mortgage and Real Estate Brokers Targeting Struggling Homeowners

By: Jared

Jared — Wed, 04 Nov 2009 03:11:00 +0000

LENDQEST SCAM…..If they don’t do what they promise and get you the loan modification they stated in writing but still take your money…..is that a scam?

By: Jared

Jared — Wed, 04 Nov 2009 03:04:51 +0000

LENDQUEST SCAM? I’m not sure, but they definitely didn’t get me the loan modification as they promised (and what they gave me in writing). To make this somewhat short, LENDQUEST of Sherman Oaks, CA in association with the Law Offices of David Rosenberg is one of these” loan modification” companies. They want $1500 up front and $1500 after an agreement has been met with the bank. They do no work or negotiation what-so-ever. They promised one loan modification, stating they agreed with our bank, which was a lie. They had no backup or paperwork to support this offer from the bank. I called them out on it and then they claimed they re-negotiated a better deal, which was another lie. It was worse than the original deal. All they did was get the loan mod paperwork sent to us from our bank, which gave us a trial period, not the promised loan mod for 5+ years, the lower rate, or the maximum % rate cap. They also tried to process payment on my credit card multiple times without consent. The “lawyer” wasn’t involved at all in any of the negotiations.

MY RECOMMENDATION…DO NOT USE LENDQUEST!

By: info@guardianmods.com

info@guardianmods.com — Sun, 01 Nov 2009 01:31:33 +0000

Gregg Schwack is no longer working for the company. The old processing team has been fired, and there is a brand new staff on board. If you have any questions regarding a loan mod, or if you currently have one with the company, please contact our offices Monday thru Friday from 10am-6pm at (914) 777-3269

Thank you.

Guardian Adovacte Group

By: Kim

Kim — Wed, 21 Oct 2009 22:38:00 +0000

In desperation I applied for foreclosure prevention help on line. Within days I received several phone calls from companies willing to help me with a loan modification on my mortgage. One in Florida wanted $3000.00, $1500.00 upfront as an attorney retainer. Now I have one in Tarzana CA claiming to work with HUD http://www.lwcllc.com They want $2900.00 upfront but state they have a guarantee. The guarantee is only that they get a response from my lender, not that it is favorable. Is this company legitimate ?
Are loan modifications legal in Massachusetts ?

By: Kim

Kim — Wed, 21 Oct 2009 22:27:45 +0000

In desperation I went to a Foreclosure prevention web-site. Within days I received several phone calls from companies offering their “help” to modify my home loan. I contacted one in Florida that stated they were attorney backed, they wanted $3,000.00. $1,500.00 up front but this was stated as being an attorney retainer fee. Now one month after posting my information I have been contacted by a company called Loan Workout Consultants in Tarzana CA that state they work with HUD and have a guarantee but a $2,900.00 fee must be paid in advance. After looking at the guarantee, it only states that they will get a response from the mortgage company in 3-6 monthts not that they guarantee a favorable outcome. Is this company legitimate ?

Is this legal in Massachusetts ?

By: johnny

johnny — Mon, 12 Oct 2009 02:59:25 +0000

Sorry to give you the news, but you were most likely taken, Mike Luchen is in prison currently. Michael Yeninas changed his name to Mike Luchen in 2004 after a scam he pulled in 2001-2002. Just google Michael Yeninas and you can read the NY post and NY daily news articles were he was charged in a scam to the tune of 1.5 million from innocent elderly people.

By: eric

eric — Thu, 01 Oct 2009 06:03:16 +0000

I called Guardian Advocate Group to modify my loan way back in June. I talked to a guy named Gregg Shwack and was convinced that this was a legitimate loan modification company. I also had small email communication with Mike Luchen (CEO), who also assured me that I was in good hands.

The web site http://www.guardianmods.com/ states that the processing team will keep you informed but this was really not the case. I had to call just to get a status and I would also shoot emails to Gregg and he would respond with few words like, “We are working on it”. That’s the status I got for the past 3 months.

About 3 weeks ago, Gregg Shwack directed me to call their processing department to get updates on my loan. The first time I called, the lady “Gail” told me that their computer systems were down and that she would have to get back to me the following Monday. Monday came and no call so I called and got an answering machine that says their moving and would re-open that wednesday in the evening. So, I waited to Wednesday evening and called but still got the answering machine. I tried calling for the rest of that week and got that same answering machine. At this point I was frustrated so I called Gregg Shwack again and left a message to have him call me back. I didn’t get a call so the next day I called and left another message that I called.

Now, every time I call, he is in a meeting. I’ve sent emails to Gregg Shwack, Mike Luchen and many others trying to get someone to contact me back so I can get a refund on the loan modification that never happened. I was promised by Gregg Shwack that all my money would be returned so I want it to be returned. The last email I got from Gregg Shwack was this: “Your.file is complete !!!!! 98 percent of all files from your lender has been REJECTED!!!!!!! IAM SAD TO SAY.THIS.MAYBE THE.CASE” Well, if that’s the case, I should get a refund as promised! Now he won’t talk to me or neither will no one in his company.