Comments on: “Bloodsuckers and Bottom Feeders” http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/ Loan Modification & Home Loan News Sat, 20 Mar 2010 05:26:34 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Eric Attina http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-16218 Eric Attina Tue, 18 Aug 2009 07:49:56 +0000 http://loanworkout.org/?p=3804#comment-16218 Actually, my company, actually it's my brothers, I just leech of him for everything, is a complete ripoff. Actually, my company, actually it’s my brothers, I just leech of him for everything, is a complete ripoff.

]]> By: Gabriel Thomas http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-15008 Gabriel Thomas Tue, 02 Jun 2009 00:48:25 +0000 http://loanworkout.org/?p=3804#comment-15008 I'm still trying to figure out why people are so fixated on Loan Modification's in the first place? Almost all of my client's have been through the ringer with their lender/Brokers (This Doesn't mean all Brokers/Lenders), now the same bozo's who gave them the loan are here to Save The Day! I have yet to see a Loan Modification agreement that isn't just a bandade on someone's situation, or that has helped keep a homeowner from being foreclosed on. I’m still trying to figure out why people are so fixated on Loan Modification’s in the first place? Almost all of my client’s have been through the ringer with their lender/Brokers (This Doesn’t mean all Brokers/Lenders), now the same bozo’s who gave them the loan are here to Save The Day! I have yet to see a Loan Modification agreement that isn’t just a bandade on someone’s situation, or that has helped keep a homeowner from being foreclosed on.

]]> By: Mini Moe http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-14427 Mini Moe Thu, 30 Apr 2009 13:09:10 +0000 http://loanworkout.org/?p=3804#comment-14427 there is no end in sight to this. physics alone dictates that the pendulum will swing the other way in an equal velocity. by this i mean the fraudsters pushed it to the point its clear regulation is needed to rope them in but in the process will tie up some legit folks. the sad part is the regulation is not applied to the root cause; rogue mod scams are a symptom. the proper thing to do is enforce a standard modification 'cure' on all servicers and lenders then let them apply for tarp to offset those losses. instead we are paying bonuses for failed businessmen. this country has lost its soul. there is no end in sight to this.

physics alone dictates that the pendulum will swing the other way in an equal velocity.

by this i mean the fraudsters pushed it to the point its clear regulation is needed to rope them in but in the process will tie up some legit folks.

the sad part is the regulation is not applied to the root cause; rogue mod scams are a symptom. the proper thing to do is enforce a standard modification ‘cure’ on all servicers and lenders then let them apply for tarp to offset those losses.

instead we are paying bonuses for failed businessmen.

this country has lost its soul.

]]> By: EJ Attina http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-14249 EJ Attina Wed, 22 Apr 2009 04:10:55 +0000 http://loanworkout.org/?p=3804#comment-14249 To clear the air about taking an upfront fee. In regards to my company and our services; we do take an upfront fee, but we hold the homeowners money in an attorney's escrow account. This is used to protect the client. The money is held and not released till services are rendered, or the client requests a refund. I agree Marcela! This website has been one of my favorite tools, WAY TO GO MOE!!! Homeowners remember that you should do your due diligence when giving anyone or any company your money. To clear the air about taking an upfront fee. In regards to my company and our services; we do take an upfront fee, but we hold the homeowners money in an attorney’s escrow account. This is used to protect the client. The money is held and not released till services are rendered, or the client requests a refund.
I agree Marcela! This website has been one of my favorite tools, WAY TO GO MOE!!!
Homeowners remember that you should do your due diligence when giving anyone or any company your money.

]]> By: Marcela Abal http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-13872 Marcela Abal Fri, 10 Apr 2009 18:58:02 +0000 http://loanworkout.org/?p=3804#comment-13872 Oh BTW, in my opinion putting Loan Modification Specialist by your name is not a good idea. I don't think this site is up for people to self promote, but rather for consumers to get educated and vent a little bit. Oh BTW, in my opinion putting Loan Modification Specialist by your name is not a good idea. I don’t think this site is up for people to self promote, but rather for consumers to get educated and vent a little bit.

]]> By: Marcela Abal http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-13871 Marcela Abal Fri, 10 Apr 2009 18:55:45 +0000 http://loanworkout.org/?p=3804#comment-13871 Honestly I really do hope these bottomfeeders get locked up. Our economy is already failing and legitimate companies trying to help consumers are actually being crucified because a bunch of selfish mortgage brokers are pissy at the world because their number is finally up. Before I did loan mods, I was real estate investor and I can't tell you how many times these brokers tried to get me into a toxic loan. Too many people fell for it and now responsible borrowers are LOSING their HOMES. It's ridiculous and it makes me cringe that these brokers (who are now naked and unemployed) decided to continue to destroy our economy by further ripping off every person they come in contact with. And I am not saying that all mortgage brokers are evil. They are not alone in sharing the blame. I myself took advantage of rising real estate prices to re-fi my house twice. But in the end, it is not who is to blame but what we as citizens and consumers will do to fix it and protect ourselves from being scammed. Honestly I really do hope these bottomfeeders get locked up. Our economy is already failing and legitimate companies trying to help consumers are actually being crucified because a bunch of selfish mortgage brokers are pissy at the world because their number is finally up. Before I did loan mods, I was real estate investor and I can’t tell you how many times these brokers tried to get me into a toxic loan. Too many people fell for it and now responsible borrowers are LOSING their HOMES. It’s ridiculous and it makes me cringe that these brokers (who are now naked and unemployed) decided to continue to destroy our economy by further ripping off every person they come in contact with. And I am not saying that all mortgage brokers are evil. They are not alone in sharing the blame. I myself took advantage of rising real estate prices to re-fi my house twice. But in the end, it is not who is to blame but what we as citizens and consumers will do to fix it and protect ourselves from being scammed.

]]> By: J Douglas http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-13858 J Douglas Fri, 10 Apr 2009 12:15:31 +0000 http://loanworkout.org/?p=3804#comment-13858 We are a back end wholesale operation that processes for other attorney firms though we are also attorney staffed. That said, the modification process is non-legal work. Even when the NOD is filed proper contact with the lender, submission of the modification package along with the client actually being eligible for the mod will still redeem the situation. We have often stopped and/or suspended sale dates as close as 48 hours from the sale with proper contact with the lender. We are a back end wholesale operation that processes for other attorney firms though we are also attorney staffed. That said, the modification process is non-legal work.
Even when the NOD is filed proper contact with the lender, submission of the modification package along with the client actually being eligible for the mod will still redeem the situation. We have often stopped and/or suspended sale dates as close as 48 hours from the sale with proper contact with the lender.

]]> By: Moe Bedard http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-13839 Moe Bedard Thu, 09 Apr 2009 19:25:25 +0000 http://loanworkout.org/?p=3804#comment-13839 So, what do you do when there is a notice of default posted on the property? Are you a lawyer? So, what do you do when there is a notice of default posted on the property? Are you a lawyer?

]]> By: Brian - Mortgage Modification Specialist http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-13832 Brian - Mortgage Modification Specialist Thu, 09 Apr 2009 15:47:01 +0000 http://loanworkout.org/?p=3804#comment-13832 The company I work for collects an upfront retainer as a "good faith" deposit. It's fully refundable if we don't get the modification done. We can't take the chance of putting in the work and never hearing from the client again. That's wasted time and money on our part and takes time away from those that are committed to getting their modification done. I'd love to see a state license required like other professions. It would help separate the legit from the unethical. The company I work for collects an upfront retainer as a “good faith” deposit. It’s fully refundable if we don’t get the modification done.

We can’t take the chance of putting in the work and never hearing from the client again. That’s wasted time and money on our part and takes time away from those that are committed to getting their modification done.

I’d love to see a state license required like other professions. It would help separate the legit from the unethical.

]]> By: Eric J Attina (EJ) http://loanworkout.org/2009/04/%e2%80%9cbloodsuckers-and-bottom-feeders%e2%80%9d/#comment-13800 Eric J Attina (EJ) Wed, 08 Apr 2009 16:39:55 +0000 http://loanworkout.org/?p=3804#comment-13800 Not all companies that take up front fees are scams. I manage a company that charges an upfront fee. We have in house over 350 files and have been in business for over a year now with no complaints from our past and current clients, which can be reflected on the BBB. Not all companies that take up front fees are scams. I manage a company that charges an upfront fee. We have in house over 350 files and have been in business for over a year now with no complaints from our past and current clients, which can be reflected on the BBB.

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