Comments on: Learn how to avoid mortgage and loan modification scams

By: Tina

Tina — Mon, 07 Sep 2009 01:46:43 +0000

We are 9 months into the loan modification process. We have been scammed by an attorney who took our money, didn’t follow up on the modification process and now our lender stated that the file was closed 5 months ago. Now I trust no one. Next will be a complaint on both the State level and the California State Bar Association.
I’ve been calling this scum every 2 weeks telling him that our situation is getting worse, and now, by investigating myself, I found that the file has long been closed. How can I get my money back and sue for punitive damages?

By: Rachelle

Rachelle — Sat, 22 Aug 2009 01:09:23 +0000

My husband and I began the process of a loan mod with an attorney about 6 months ago. We still have yet to see results. I feel like we have been scammed possibly. We paid $2500 upfront and have been told now to “trust them” and not contact our lender at all; it could result in decline. Our financial situation has gotten worse to the point of us needing to look at filing BK. If we file BK with another attorney, will it and how will it effect the process we have already started on the mod? The mod attorney says it will hurt their process and lengthen it even longer but the bk attorney said it would actually help. Can someone give me a straight answer please?

By: crystalk

crystalk — Sun, 09 Aug 2009 14:55:27 +0000

All money collected is put into a trustee account and 100% is given back, should their modification get declined. However, if they try to do it themselves and disclose information that get them declined, you can’t expect an Accredited Loan Modification Company to work miracles. My advice is not to start on your own, but to start with the loan modification company first. You stand a better chance. If they are scammers, the BBB will let you know.

By: Catherine

Catherine — Thu, 02 Jul 2009 03:32:17 +0000

We paid somebody, who is not a lawyer upfront ($3,000) for what they called “short refinance,” and then told us that we were not qualified bec we were late for a month with our mortgage payment. For 5 months, they haven’t given us any result. So, then we decided that they don’t continue representing us. Do you think we can get our money or a part of it back? Thanks.

By: Looking for the answer

Looking for the answer — Fri, 22 May 2009 20:56:09 +0000

I’ve already been scammed by loan Mod. co. I have a pro bono attorney already going after scum. My problem is’nt over. According to my mortgage audit I’ve come to the conculsion that I have a predatory loan. Have’nt recieved responses from lawyer inquiries. Concerned lawyers that do respond are placing hold on foreclosures while collecting monthly fees from victums. Seeking all alternatives as to filing my own suit.

By: PaulMolinaroEsq

PaulMolinaroEsq — Sun, 17 May 2009 19:30:28 +0000

My firm handles Chapter 7, Chapter 11, and Chapter 11 bankruptcies. Bankruptcy is a very powerful tool when facing overwhelming debt, but as with all powerful tools, it is best used only when appropiate. In some cases a bankruptcy provides what is needed without other services. In some cases a loan modification along with a bankruptcy is the best approach. Consulting with an attorney should be able to find out what is right for as particular person.
- Paul

By: shontelle

shontelle — Fri, 08 May 2009 06:20:59 +0000

If you file a bankruptcy what exactly does that mean? You won’t have any mortgage payment and your credit will be mess up for life?

By: How To Find Mortgage Bad Credit Online, Mortgage Rate | Velt

How To Find Mortgage Bad Credit Online, Mortgage Rate | Velt — Sat, 21 Mar 2009 05:51:31 +0000

[...] Is it me or are “advance modification swindle” companies right as prevalent as credit broker chop shops were a combine time ago? I don’t mean to be overly important, and I understand many do good work, but I have heard stories of “earlier credit industry professionals” charging thousands of dollars to negotiate with the rank on behalf of the borrower. At the stake of sounding like a protectionist, isn’t this something that should be done by a lawyer? I have so many people come into my ..next. [...]

By: PaulMolinaroEsq

PaulMolinaroEsq — Wed, 11 Mar 2009 18:19:23 +0000

In general, California law prohibits a non-licensed attorney or a non-DRE approved company from taking money up front to handle a loan modification IF THE BORROWER IS IN DEFAULT. Violating California law on this matter might result in the illegal act-doer being hit with THREE times the charge for the service as a penalty. As to statutes of limitations, each statute sets its own limit and the same holds true for non-statutory laws.
- Paul J. Molinaro
(All my posts are for general information purposes only, and are in no way providing specific legal advice for any person or entity.)

By: Marvin Opiyo

Marvin Opiyo — Wed, 11 Mar 2009 04:43:28 +0000

If a scammer has already taken my money, then failed to modify my mortgage, can your firm sue them? How much?
2. Is there a statuete of limitation when suing my lender for predatory lending? That is, if it has been more than three years since the loan closed, do I still have a case?