This is a long time coming.
It looks like California Attorney General Brown and the FTC will announce a nationwide crackdown on loan modification scams this Wednesday in Los Angeles. The announcement will name massive loan modification scams operating in Los Angeles and Orange Counties.
The AG & FTC have dubbed the crackdown, “Operation Loan Lies.”
I am eagerly awaiting the announcement because there are quite a few companies that I know of here in Southern California that should have been shut down a long time ago. I will be sure to post these companies and defendants on my blog after the press conference.
Los Angeles – At a news conference on Wednesday, July 15, 2009 at 10:00 a.m., Attorney General Edmund G. Brown and Chairman of the Federal Trade Commission Jon Leibowitz will unveil lawsuits to shut down massive loan modification scams operating in Los Angeles and Orange County.
These suits are part of ‘Operation Loan Lies,’ a nationwide crack down on loan modification scams that prey on homeowners desperate for mortgage relief.
Who: Jerry Brown, Attorney General of California
Jon Leibowitz, Chairman of the Federal Trade Commission
Rene Ruelas, Homeowner ripped off by a loan modification scamWhen: Wednesday, July 15, 2009, 10 a.m., Pacific
Where: California Dept. of Insurance briefing room
Reagan State Office Building
First Floor
300 South Spring Street
Los Angeles, CA
I have two questions. One-I would like to know how to find out if a Loan Modification is legit, honest and truely wanting to help customers. Two—I would like to know when you will have another seminar on where to find the right modification company or where to get help regarding a Modification, Short Pay Refinance, Foreclosure or any other problem you may be facing regarding your home.
Thank you for your assistance,
Debbie Leicht
The best way to find a good firm is a referral or word of mouth and they should be a reputable law firm and not just some mortgage broker. I never did a seminar, so I am not sure what your speaking of? You can visit my free forum at http://www.loansafe.org/forum and get help or a non-profit like http://www.NACA.com