This Green Credit question came in my email over the weekend and it is not the first time. I am going to start a series of open and unmoderated blog posts about loan modification companies that will allow homeowners and company representatives to openly discuss their issues.
I have been getting a lot of emails over the past year and comments on my blog about Green Credit Solutions and Green Credit Law Center out of Orange County, California. All of the comments have been pretty much saying that this company is just another loan modification scam.
I thought I would open up discussions on my blog for anyone to comment on this company. Please tell me the good and bad.
Here is the latest comment I received from a homeowner on my post California Loan Modification Firms Out of Control:
I paid $6300.00 to Green Credit Solutions and they accomplished nothing in four months and now they only want to give me $2000.00 out of all that money I gave them. I would say DONT TRUST any of them and call the banks yourself.
Known websites, affiliations or reports on the internet:
http://www.getgreencredit.com/
http://implode-explode.com/forum/viewtopic.php?p=269040
http://www.greencreditsolutions.com/gcs/about_us/partner_affiliates.php
http://greencreditsolutions.com/
http://www.greencreditcapital.com/management.php
http://www.loanmodcons.com/2009/05/green-credit-solutions-cons-another.html
http://www.ripoffreport.com/reports/0/454/ripoff0454583.htm
http://answers.yahoo.com/question/index?qid=20090126110351AApiB50
Resolved Yahoo Question Show me another »
I am having trouble with Green Credit Solutions out of Irvine CA. i want to know if i am going down the wrong?
Best Answer – Chosen by Voters
I’ve just done doing an investigation into them for a client because my client was taken for $3500 by a guy claiming to be one of their broker affiliates. What I found with dealing with them was alot of double talk and smoke and mirrors. They are not licensed with DRE like they are supposed be. They claim that because they are “attorney backed” so they don’t need to be approved by DRE which is not true. If you are doing mods in California and you soliciting upfront fees you need to be approved by DRE. The only exception is if you are a law firm and Green Credit Solutions is not.
Are these their lawyers?
http://www.buchalter.com/bt/index.php
What’s your take on Green Credit Solutions or Green Credit Law Center? Are they a scam, rip off or are the a legitimate loan modification firm?
Please tell me the good, bad and ugly!
Moe,
I am so glad that you wrote this blog post. Check this out:
http://tickerforum.org/cgi-ticker/akcs-www?post=94592
There is an interesting discussion going on at the ML Implode site pertaining to Martin Andelman’s blog and Green Credit Solutions. Andelman writes a blog for ML Implode, and he has also written a blog for Green Credit Solutions. Additionally, Mandelman has provided consulting services for Green Credit.
After investigating the company for months (and posting information on the Ticker), I finally couldn’t stand it any more, and posted comments in response to Mandelman’s pro-modification company story.
I noted concerns that Mandelman and ML are concealing compliance issues regarding GCS which is a huge MLI sponsor. I’ve asked for months for specific concerns regarding licensing and advance fee agreements to be addressed. However, I was told recently that the information was “proprietary”.
The last post not only outlines specific compliance issues regarding GCS, but also highlights questions as to whether Mandelman is truly neutral on this issue. I am posting this information here because I GCS states that it is one of the largest modification firms in California and homeowners and brokers on this the Ticker Forum may be considering doing business with GCS based on ML Implode’s assurances that they have checked out the company and they do it right.
http://implode-explode.com/forum/viewtop….
Potential conflicts of interests with sponsors is one of the reasons why I respect Karl so much. I’m sure he avoids sponsors for this very reason.
For those of you who are considering hiring a modification company or going to work for one, I suggest you very carefully (and thoroughly) check them out.
Here is what I wrote in the post:
Quote:
“Martin Andelman” wrote..
Quote:
But I did want to clear up the questions you raised in your last paragraph.
A. I did not “write” the GCS blog. I allowed them to post several articles that I’d written and appear on numerous online sites. Other loan modification sites also post my articles. I may have written one piece specific to their blog, I don’t remember off hand. But if I did, it wouldn’t have been to endorse them over others.
B. I asked if I could be present at GCS’s DRE audit because I wanted to see what went on to better understand the perspective of the DRE.
C. I did not intercede with MFI-Miami on GCS’s behalf, and I had nothing to do with GCS listing anything on their Website.
Just to be clear… I have no financial interest in ANY loan modification firm. I am not paid by any such firm. I do not endorse one loan modification firm over another.
Martin, with all due respect, you wrote this statement on your blog that was hosted by GCS:
“Martin Andelman” wrote..
Every single week, you can find me right here online as Green Credit’s Blogger-in-Chief. And rest assured, I like things to be simple… and you want to know what I’ve learned over the years, everything can be made simple, or it can be made hard and complicated. My specialty is making things simple, so when you come on over to our Blog, you know you won’t find a bunch of people talking over anyone’s head.
My second point is that from the moment I met everyone here at Green Credit Advisors, I felt like it was the kind of place I wanted to be… because they weren’t like so many other companies out there… they were helping homeowners stay in their homes because they cared deeply about their customers and wanted to help. Everything else came after that.
The people at Green Credit Advisors know the mortgage industry inside and out. So they really know what they’re doing. And they understand the whole economic meltdown too. So, they know where we’ve been and they’re watching closely all the time to see where we’re going. And that’s important in uncertain times such as those we’re facing today.
Most importantly… they understand their customers… they know it’s not your fault… you’re not the reason the world’s economy is melting down… but you are the reason Green Credit Advisors is here… we’re here to help, and like their slogan says… HELP IS HERE.
Although the article has been taken down, here is a link to a cached copy: (I have a printed copy and a pdf copy)
http://209.85.173.132/search?q…..ent=s….
You have admitted that you were hired by GCS as a strategic consultant on this very thread:
“Martin Andelman” wrote..
Towards the end of 2008, months before I was writing on ML-Implode, Green Credit also engaged my firm’s services to help them develop their strategy and corporate positioning. For example, I wrote their tag line: Help is Here.
In dollar terms, the funds my firm received from Green Credit in 2008 amounted to less than 3% of my firm’s total annual revenue for that calendar year.
You also wrote a letter to Diane Feinstein that somehow got posted on GCS’s website:
http://www.getgreencredit.com/…..nstei….
You also wrote a scathing article about the BBB in response to GCS’ “F” rating:
http://mandelman.ml-implode.co…..us-bu….
In regard to MFI, according to the MFI blog, you did contact them:
“MFI Miami article” wrote..
You’re probably wondering why I’m bringing this up. Well, a few weeks ago, I received a call from Martin Andelman, who writes a blog for ML-Implode.com. He asked me about the issues I had with Green Credit Solutions and what criteria I used for my twenty worst mod company list. I told him it was based on the complaints I received, and we began talking about the Chris Campbell saga involving Dr. Howard. Martin spent the next 90 minutes trying to persuade me that my impression of Green Credit Solutions was wrong. He told me that he had spoken to quite a few of their clients at length and that all of them seemed very happy. He then told me that Green Credit Solutions had a new president — Larry Bracco — who was unaware of the Chris Campbell/Dr. Howard soap opera. Larry was made aware of my worst loan mod company list by potential clients asking him about it and was naturally concerned. Martin asked me if Larry could call me.
http://www.mfi-modsquad.com/ta…..-solu….
Sounds to me like you had something to do with the article. Now, MFI Miami is featured on GCS’ new site: (Click on Media and then click on Information)
http://www.getgreencredit.com/
And you are now mentioned on MFI’s site:
http://www.mfi-miami.com/mandelman-matte….
And ML Implode and yourself are also now listed on MFI’s site as a trusted partner: (scroll down to bottom right hand side of page)
http://www.mfi-miami.com/
Now, in regard to the MFI Miami story removing GCS from their 20 Worst Mod Companies List, Steve states:
“MFI Miami Article” wrote..
Their DRE approval is listed under the company name, Pac-West, which is a Green Holdings, Inc. company, and Green Credit Holdings and Green Credit Solutions are licensed under the DOC. This is permissible in California. I verified this with several attorneys who represent modification companies and with the state of California.
This statement is both misleading and patently false. First off, GCS is not licensed by the DRE, their DRE license status is NBA which means there is no employing broker and the company is not authorized to engage in acts which require a RE license. While there are 2 active DRE licenses for affiliate companies, the licenses don’t transfer to parent or holding corporations. Furthermore, PacWest is no longer an active corporation name or DBA. The corporate name was changed to Green Residential at the time the MFI article was written. The name change void’s the DRE “no objection” to PacWest’s Advance Fee Agreement. Hence, GCS is still out of DRE compliance on this issue. I have also confirmed with the DRE that the investigation is still very much ongoing.
In regard to GCS’ DOC license, their DOC license is under PacWest Funding (another active corporation)- NOT Green Credit Holdings or Green Credit Solutions like the article states. Furthermore, the DOC license does not permit companies to do loan modifications because the CA Corporations Commissioner has determined that DOC CFL licenses do cover modification businesses. Here is a Desist and Refrain Order issued by the State this year that confirms this fact:
http://www.corp.ca.gov/ENF/pdf…..nce_d….
Here is an excerpt from the D & R Order:
Quote:
3. Pursuant to information received and a regulatory examination of 2nd Chance Negotiations, Inc. conducted on or about March 24, 2009, the Commissioner discovered that since as early as December 15, 2008, Respondent had acted as an intermediary in hundreds of loan modification transactions with California borrowers.
4. California Financial Code section 22300 provides:
No licensee shall directly or indirectly charge, contract for, or receive any interest or charge of any nature unless a loan is made.
5. The Commissioner finds that a loan modification does not involve the making of a loan, and therefore a lender may not engage in loan modification intermediary activity under the authority of the CFLL.
I pointed these facts out to Steve at MFI via a series of emails, after which, he stopped communicating with me and refused to modify the article. Instead of modifying the article to provide accurate information, GCS issued a press release and posted the information to their site. I find that curious. Even more curious is that my communication to MFI made it back to ML, and then back to you.
While we are on the issue of compliance, lets recap some important facts:
1. GSC is not properly, actively licensed with the DRE and do not have a valid advance fee agreement which is required to comply with California laws.
2. There is an active DRE investigation on GCS that is still ongoing.
3. GCS states on their website that they are a “Law Center”, however, the CA Bar Association DOES NOT show that GCS (or any affiliated corporation or DBA) is registered with the CA Bar. Registration with the CA Bar is required for law corporations doing business in the State of California under the California Corporate Code.
4. GCS does debt management, yet there is no record of GCS holding a CA Prorater’s license as is required by California law. I’ve called the state for assistance to find the license as well as checking online, and the DOC has stated they cannot find the license. I’ve asked ML and yourself to provide me information regarding the exemption.
5. GCS works with mortgage brokers and other agents, and pay these individuals for referring modifications to them prior to the modification being completed (per conversation with GCS). The law is clear that funds cannot be released from the borrower’s advance fee until the promised work has been done.
6. Both the CA DRE and CA Bar has issued Bulletins and Alerts regarding the practice of using attorneys to circumvent CA laws. Here is the latest bulletin from the DRE:
http://www.dre.cahwnet.gov/pdf…..3_200….
And here is the CA Bar Ethics Alert:
http://calbar.ca.gov/calbar/pd…..losur….
7. GCS has private investment offers through Green Credit Capital. Their web site cites the success of their sister company due to the lack of history for GCC. The site also shows that Gary Erickson is manager of the investment company, and sites Erickson’s success with a major mortgage company. The site and investment offerings excludes the name of the company he was a Director for. The name of the company is Accredited, and I have found lawsuits naming Erickson, as a former Director of Accredited, that allege SEC violations. While I am not saying that any of the allegations are true, it is material and should be disclosed to potential investors.
Your readers and ML Implode readers have the right to know this information, and you have the duty to inform them. CA licensees and brokers can get in big trouble for participating in such a business model. Consumers also have a right to know whether the company they are considering doing business with is complying with the appropriate laws.
I know GCS’ states their business model is “proprietary”, but I don’t think these are unreasonable questions to address- especially after the DRE has stated that my concerns are valid.
Think about these things.
———-
“Now the Fed wants to be the systemic risk regulator. But the Fed is the systemic risk. Giving the Fed more power is like giving the neighborhood kid who broke your window playing baseball in the street a bigger bat and thinking that will fix the problem.” -Kentucky Senator Jim Bunning
Here is a complaint from the DRE issuing them a cease and desist order. However it looks like they are now Green Credit Law Center with their sham lawyers running the show. LMAO, we all know it is 100 snake oil salesman and these lawyers are the legal puppets/frontmen…HAHAHA
They will go down like Fed Mod!
Here is the California Department of Real Estates complaint against Green Credit Solutions and has issued a Desist and Refrain order.
http://www.dre.ca.gov/pdf_docs/loanmod_d….
The DRE may like to know that they just changed names and tunes. Same song, same scam…..duh!!!!
Moe, you get on my nerves dude and your grammar sucks sometimes. I knew of you on Brokers Outpost when everyone tried to bash you and throw you under the bus. Even I joined in and threw some pot shots at you.
But I have to say that you were the first one advocating for homeowners and you haven’t skipped a beat. Bottom line is that you do have a past, but you have changed. Also, you have been at this longer than anyone and all these lames are just trying to copy you. I have seen it time and time again.
Especially this Martin dude. You used to get on my nerves the most and then he came along and took your crown.
I find it funny that Martin Adleman, ML-Implode and that MFI-Miami clown publish a DRE desist and refrain list from the DRE and the company that is in there is the main advertiser on their blogs. Green Credit. It’s like, “Dudes, did you just read that or what?”
Green Credit Solutions was issued a desist and refrain on 6-25-2009. Yet look on Martins blog, ML-Implode and MFI-Miami’s and you will see that Green Credit is a company that they co-sign.
http://www.mfi-modsquad.com/why-green-credit-solutions-is-coming-off-the-list-of-20-worst-mod-companies
http://mandelman.ml-implode.com/tag/green-credit-law-center/
http://mandelman.ml-implode.com/trusted-loan-mod-firms/
These paid puppets couldn’t get a job anywhere else so they get paid by loan mod scammers to say that they are great. Talk about snake oil Moe. These cats took the snake by the tail, bit it off and piss oil at their mouths daily!!
Who is this clown? Look at his lame blog, he hides behind a blog and what the F is his background, history and what makes him a loan mod scam expert?? Another lame mortgage broker or loan officer reinvented as a homeowner savior???? BARF!!!!!!!!!!!!!!!!!
Now this new Ml-Imploding Martin dude takes the BS cake.
http://mandelman.ml-implode.com/about/
Where did he come from? What did he do before? How come he knows so much about the legalities of loan modifications and the law? Please………
Just one day, “Let the games begin and he is here talking like he has been at this for years and is here to save homeowner and humanity!!”
Holy mutha of the FTC, what has our world come to and please look into this Adleman kook and the firms he claims not to make a dime from to say they are “Approved and Holy Loan Mod Firms that Jesus Himself is Running” BLAM, may lightening strike you Marty. May the wrath of the Lord curl your slick talking tongue into a knot and your fast typing fingers get arthritis so you cant mislead the American people anymore.
http://www2.dre.ca.gov/publicasp/pplinfo.asp?License_id=01850648
I posted this on ml implode also.
I started a loan mod with GCS back in January and feel very cheated. They collected their fees and then sat on my file for months. They gave me a lot of runaround. I was told that my case had been assigned to an attorney named Gary Erickson. Then another GCS employee told me that my case did not require an attorney. When I personally spoke to Gary Erickson last week, he told me that he did not actually do any loan mods but rather he was their coprorate legal counsel.
So WTF! I paid for legal services but now I don’t rate a lawyer and they try to push off this other guy like he is the lawyer doing the negotiations?
Copy of a Chatlog with GCS
——————————————–
Cris Yannelli [12:23:50 PM]: Welcome to our real-time support chat. How can I help you today?
arudb [12:24:05 PM]: i need to know who the lawyer is handling my case
Cris Yannelli [12:24:31 PM]: can i have your last name so i can locate your file?
arudb [12:24:39 PM]: xxxxxxxxxx
[12:26:12 PM]: hello? still there?
Cris Yannelli [12:26:35 PM]: yes, sorry out system is a little slow, right now
[12:26:42 PM]: please bear with me
[12:28:11 PM]: The supervising attorney is Gary Erickson
[12:28:41 PM]: is there anything else i can help you with?
arudb [12:28:57 PM]: yes id like his contact number please
Cris Yannelli [12:31:25 PM]: please hold while i look up the number
arudb [12:33:06 PM]: I’d also like to get a listing of the work that Mr Erickson has done on my case so far. Keep in mind, I said, the work HE has done.
Cris Yannelli [12:34:18 PM]: the number is 619-497-2688
[12:34:47 PM]: is there anything else i can help you with?
————————————————-
Now Gary did offer me a full refund of my $3000 but they are now leaving me to my own devices without any knowledge of what they submitted to my lenders. What guarantee do I have that they have not screwed up my chances of a loan mod beyond repair? Gary wants me to sign a liability release document with so much legal-ese that I can’t make out where it says I am getting my money back.
I used national mortgage modification in Philly. Took about two months but they got the mod done. just my 2 cents
These comments do not surprise me. Yes, I know my grammar sucks sometimes dude. Hell, I write about 5,000-10,000 words a day and have no editor to help me out. Heck, at least I get the mesage out and it helps the homeowner.
Anyways, I would like to hear from some more homeowners or ex-employees. Any good things? Maybe someone from ML-Implode would like to comment on this??
Martin or Aaron? Or are you all taking the 5th????
Here is an exchange between Randall Marquis of ML Implode that shows they do work with and and affiliated with Green Credit. ML Implode seems much more than just a place for green credit to advertise. Every time something is said about them, Randall comes out of the shadows to back them up, “we are ML Implode, we know what we are talking about”..LOL
Randall Marquis
July 2nd, 2009 at 3:18 pm
Sheila: The firm you spole so highly about has a BBB rating of “F” not an “A” as you suggest.
Krista may be correct, be she missed the point: Green Credit Law Center handles the loan modifications. They are NOT required to have an Advance Fee Agreement.
I can guarantee you Green Credit Law is processing hundreds of successful loan mods.
Our web site is the Mortgage Lender Implode-O-Meter, and we know what we’re talking about.
Krista Railey
July 12th, 2009 at 3:59 pm
Randall, Green Credit Law Center is not a law corporation. There is no record of Green Credit Law Center being registered with the CA Bar. According to the CA Bar and CA Corporations Law, law corporations are required to be registered with the CA Bar. Also, if RE Licensees are involved, it does not circumvent RE law that requires a no objection to the Advance Fee agreement. Also, just having a corporate officer (Gary Erickson) who is also corporate legal counsel is not sufficient for creating a legal firm and holding a company out as a legal firm.
However, I did find where Green Credit did create a new license under GCS Marketing, and that the DRE did issue a no objection to the advance fee agreement. The only problem is that the contracts and advertising are not under that name, and there is only one licensee (corporate officer) listed under the GCS Marketing license. As well all know, GCS handles hundreds if not thousands of modifications, and 1 licensee is insufficient to handle that type of volume.
Incidentally, Green Credit Solutions has been issued a Desist and Refrain Order by the CA DRE, and there is now an open case.
http://www.dre.ca.gov/cons_drs.asp
The case also involves Curt Melone who has also been issued a D & R order.
Stay away from anything involving Curt Melone and any company he is affiliated or partnered with. I have known him for years and he is a big time scam artist and will give the runaround. Do yourself a favor and diligently research for a few days before considering any kind of loan modification. Do not get screwed over again. It is sad how people are trying get help and others are taking their your money.
Can you tell us more about this Curt Melone? I did notice he is the main principle at Green Credit Solutions.
George and Angela Adams here we gave pro city mortgage and green soltution $3,500.00 and we heard the advertisement on 98.5 Rob, Arnie, and Dawn. For a loan modification. If anyone can help direct us including if we’ve been completely ripped off, please let us know. I will have to turn this over to a lawyer and rip someone a new you know what. Please let us know I will be making phone calls starting tomorow.
George,
OK, when you say you gave Pro City Mortgage and Green Gredit Advisors $3500, do you mean that they were working as a team? What state are you in? Is there a lawyer involved?
The best thing to do would be either A. Try and get you money back by being the squeaky wheel that does not go
away till they get a refund or
B. Go to the California Department of Real Estate, DRE, FTC, and attoreny general to file a complaint.
That choice is up to you.
This is the website I found for them, http://www.procitymortgage.com/ and it appears they do loan mods, is this them?
It looks like they are apporoved to do loan modification by the DRE
http://www.dre.ca.gov/mlb_adv_fees_list.html
but they must follow the DRE and state guidelines and cannot take money up front without work being performed and disbursed in payments or when someone is in default.
Did they collect all the money up front or Green Credit?
http://www.dre.ca.gov/mlb_adv_fees_list.html
Pro City Mortgage Corporation
2241 Douglas Boulevard, Suite 100
Roseville, CA 95661
Map & Directions
Business Hours
8am-7pm Monday thru Thursday
8:30am-5:30pm Friday
We are closed on major Holidays
Local 916-PRO-CITY (916-776-2489)
Toll Free 888-PRO-CITY (888-776-2489)
Fax 916-797-8616
Green Credit Solutions DRE approval is listed under the company name, Pac-West, which is a Green Holdings, Inc. company, and Green Credit Holdings and Green Credit Solutions are licensed under the DOC. This is permissible in California. I verified this with several attorneys who represent modification companies and with the state of California.
I have been working with Green Credit Solutions since Nov. 2008 and they say they nearly have a loan mod. done for us. This past week I have left a few messages on the phones as well as sent a few emails with no response. My question is I’m in trouble? Should I ask for my money back and seek better advise? The people at Green Credit Solutions say that an agreement with my mortgage company is near but when. The person I have speaking with at Green Credit has been Hector Montes and Nicole Johnson.
Hello folks…I am an executive at Green Credit. From time to time I browse the blogs about loan mod companies, seeing what people are saying about Green Credit and the industry in general. I see “moe” here has another one of those websites dedicated to helping the poor, un-armed masses against the big, bad scamming loan mod companies…
The plain truth is that Green Credit performs between 400-500 loan mods per month from all over the country. We are not perfect, in the sense that we don’t always answer calls/emails as quickly as we should or would like…but the VAST MAJORITY of our clients are extremely happy with our services. We have been doing loan mods long before the CA DRE got into the business, and we work very hard at doing something we are passionate about…saving homes from foreclosure. We get complaints, like every other service business, except that for us the stakes are much, much higher. We try to deal with each and every complaint, and if warranted will refund a clients payments even if we have performed. Our clients are afraid, stressed out and confused. We understand that. They want their problem fixed immediately. So do we. The fact is, the longer it takes for a mod to be completed, the more money it costs us. If we charged by the hour, like a regular law firm, the average loan mod would cost over $10,000. And I can just imagine how easy it would be to collect that fee from a client AFTER we got them a loan mod. We don’t force people to engage us. The vast majority of our clients come to us AFTER they tried to get a mod on their own.
I have reviewed the files of a couple of your post-ers who are GC clients…I will not go into the specifics of their cases, because that would be a breach of confidentiality, but I will say that there are always at least 2 sides to every story, and in these cases…many sides. And both of these folks have been in contact with us since their posts, and things are getting done.
In the loan mod world, many times the client is their own worst enemy. They got into a difficult situation, sometimes through no fault of their own but in many cases the client has helped themselves get into difficulty. We have to sort thru all of this, get the correct information and documentation to the lenders, who are more screwed up than you could EVER imagine, and try to negotiate a solution that works for the client for the LONG TERM. The reality is that we simply do not know how long its going to take for a mod to happen, it is primarily up to the lender. Most of our efforts go into preparing the case for negotiation. This is where the rubber meets the road and why more than 90% of the mods we’ve completed are still performing today.
As for the whole issue of “compliance”….it is going to be a moot point very soon, as the wise politicians in the great state of California are going to pass HR 94, which will basically “desist and refrain” ALL loan mods in this state. This is exactly what the lenders want, so companies like ours who successfully perform loan modifications EVERY DAY, will no longer be an option for consumers who do not have the time, the stamina or the experience to negotiate with their lender.
So yes, we got a “desist and refrain” notice from the CA DRE. And yes, we have now and have had in the past several Advance Fee Agreements listed on the CA DRE’s “no objection” list. And the point is….? The CA DRE sent us that as a result of 6 (or maybe it was 9) files we took in during a 2 week period we were developing various business models. Mea Culpa. Like most businesses, our objective is to make a profit. We do this by generating customers, getting them to pay us, providing a valued service that costs us less to perform than we generate in revenues, and hopefully get those consumers to refer us to others. We are still here after more than 2 years, in spite of the roadblocks, chest-thumping politicians and irresponsible jounalists (and bloggers) depicting this industry as full crooks and scammers. Please…there are a lot more crooks and scammers in such honorable professions as home improvement contractors, plastic surgeons and auto repair. Do the research…
Meanwhile, if you are a client of Green Credit, and are having concerns or problems, you can email me at larryb@pwfinc.com and I will do what I can to help you. Krista knows that I answer my emails and help our clients who may need a little extra help…she has seen the process work on Trulia.
Its pretty much a thank-less job that we do. We do all these mods every month and very few people take the time to blog a “thanks”…that’s ok. At the end of every day, and email goes out to our entire company summarizing how many homes we have saved from foreclosure thru modification, forebearance, etc…That allows us to sleep at night, and get up the next day to do it again.
OK, Larry and anon.
I appreciate that you both have came here to clear the record. But I am still confused as are many readers of my blog.
Why have you just changed names? Why is there so many names, aka’s etc? Solutions, Law Center, Holdings and now Pac West! Gee whiz guys, will the real name please stand up? Is it Green Credit Solutions, Law Center or Pac West?
Whatever it is, I see no transparency and just a bunch of fishy name changes. You all need one clear message and not so many websites and confusing business models. One day you are a law firm then the next you are a processing company and the next you are a holding company.
Please clear the air on these issues.
Like many people I have hired Green credit solutions/Law center. I’m coming up on my 1 year aniversery with my loan modification, why my lender dragged there feet and made everything difficult. I’m not even dealing with the bank. I’m dealing with a vendor working on behalf of the bank. Yes I’m frustrated because I can’t communicate with GCS like i want and wonder every day if there even still in business .Now there web site has disappeared and I’m even more confused. Now I read Larry Bracco post and I feel better about a few things. It comes down down to this I needed someone to help me out, I choose GCS before I new anything about up front money and Mod company’s, I have a year invested in GCS and it’s going slowly but every time I follow up with my lender there seems to be communication between them. I’m still a loan Mod in progress wishing I could get on with my life.
David Wojciechowski
I paid Green Credit Services back in Dec 08, and while they are good talkers, I don’t believe they’ve done what they said. They’ve certainly done something, but nothing has helped. I got the impression that they called my lender only after I called them. In the end, the house was still scheduled for auction, and I got a lawyer. I count the money given to Green as a waste, and I’ll be more careful next time. I doubt I’ll get any money back, and I certainly have gotten no satisfaction or positive results from them.
I have worked very closely with Green Credit Center inside their office for several months as an agent, representing them to an ethinic community. While this posts has a lot of opinions and smoke in mirrors, my observation and experience is coming from dealing with them directly within their office space. They boast 80-90% loans are modified, but out of 30-40 clients that were submitted through our dept., we only saw few of them got results. While they were doing loan modification business actively (they are not doing LM actively with the new company they set up, Guardian Credit services, http://www.getmycreditgrade.com) most of our clients weren’t happy with the level of services they have received. I don’t trust that they will take care of the clients that they have now, since they took all the upfront fees, and focusing with other business services. I have seen each of their negotiators are working on hundreds of files, buried with files, some of them just got promoted from data-entry positions. I think what happened was that a greed got on the way, taking more files than what they can handle, while they know they can’t handle. We know that the banks are the problems, but they became the troubled banks themselves, and I think in my opinion, worse than the bank, because they don’t make the decision for the home owners, creating gaps after gaps to talk to the lender. I had clients called me and complained that their lender called and told the clients that nobody is responding from Green Credit, and the time is running out.
They promised a lot of things to the agents and to the clients, but I have seen very few carried out. Their marketing materials that were used to train the agents are falsified (that all the back end services are done by attorney network, but I haven’t seen no attorney working on any of the files) , and the upfront fee they charged to all clients should go into an escrow account, but DRE found out that’s not the case. Their dropped their website address, and contact informations are not available to the public. My clients are calling me like crazy, we as agents have done everything that we could, even at this very moment, while Green credit solutions is gone, and operating under different name. In my opinion that’s unethical, and more close to a scam. We as former agents, gets no supports, many troubles to communicate with their staffs, while the home-owners are troubled and confused. Their main complain is there is nobody responding from Green Credit Solutions. I don’t trust them any more, and I am trying to find a way to get the refunds for my clients from this company. I have tried to find a solution for my clients in the past three months with CEO of Green Credit, but nothing was delivered what he promised he would do. For the sake of my clients, I have no other option but to fight them. I have filed complaints to BBB and FTC. I am in the process to talking to district attorney, and DRE, and an attonrey who specializes in business litigation, real estate.
If you are looking for information on Green Credit on the Mortgage Lender Implode-O-Meter, don’t expect to get straight answers and don’t expect your post not to be deleted.
I’ve been posting probing questions on the site, and my posts have either been moved to Idle Chatter (which is not viewable by non members) or deleted. Here is the last entry that was deleted from Andelman’s blog: (And yes, I did document the post by printing to pdf- so I can prove this):
“TG, you know I think you are awesome, but I don’t think you are getting the point that I am trying to make- especially how Andelman and ML promoted a particular mod company, and now that the DRE has issued a D & R order, the company closed it’s office and reopened in a different location with a new name, phone number, and website, nobody has spoken up on the subject or is advising readers as to what they can or should do.
We are talking about a company that had thousands of modification
application in process and were working with an unknown number of affiliates which did business with the modification firm based on MLI and Andelman’s endorsements.
As the mortgage crisis continues to expand and loss mitigation evolves, more information is being made available to homeowners and professionals alike. Borrowers who wouldn’t have been considered 6-9 months ago, might now qualify for the HAMP program. However, if the borrower’s housing expense and other obligations don’t support the request or the borrower doesn’t fit the perimeters, the borrowers may have to face facts.
Also, self employed borrowers that don’t report all their income and have excessive write-offs will likely find that they won’t be able to qualify for the HAMP program. Additionally, by applying for a modification and entering the trial period, the borrowers will be authorizing the lender to verify tax returns that will enable to lender to document stated income fraud.
Another thing to consider is that if a borrower has a temporary hardship such as loss of employment, a modification request won’t work. The borrower has to request a special forbearance.
Fortunately, this is simpler than applying for a modification.
Its not easy, but empowering borrowers to help themselves rather than steer them to modification firms is a better solution. Especially since the track record here seems to be to conceal issues regarding modification sponsors rather than reporting the facts to consumers.
I would never trust the recommendation of anyone who couldn’t man up to making a mistake. But that’s just me.
Mandelman, you’ve yet to report your findings on GCS after speaking to Curt Melone. What is the scoop? Is the company still in business? Why did they suddenly change their name and address? Why did they take down all of their websites? Why does their old number merely play a message that the line is currently busy? Had it occurred to them to forward the lines to their new location? Why can’t I find licensing information on the new company?
Most importantly, how can borrowers obtain a current trust accounting and/or apply for a full refund?
Did the company implode?These are all fair questions.”
George Adams, I think you have Pro City confused with another company. We have no affiliation with Green Credit/Solution nor have we ever. We also have never had correspondence with you…there is no record of you in our database. I do know that Paramount Equity did business with Green Credit and they charged $3,500. Green Credit is facing disciplinary action from the DRE and Paramount did not have an advance fee agreement on file with the DRE. I hope this helps you. Best of luck.
Well yes my last post was deleted and Icome back to let people know what I have found out, First I was told by the person, that talked me into doing business with Green gredit that they had gone bankrub, I called green tree and the same person that was working on my modification says that there is nothing that she can do suggested that I call my bank and see how far they got on my loan modification, Which I did and was told that they did nothing with the bank they just took my money and provided no service. Iam out of 3,499
I got scam from green gredit and the money was pulled out form my account by Smithharrisplic Smithar, it should have been smith liers
DO NOT GO TO Procity
they will rip you off just like they have ripped me off, i am currently trying to get the remainder of the 4 grand i gave them. I want to pursue legal action, look at thier BBB rating it is a B now, they have a huge employee turn over, and they are nothing but a bunch of used car salesmen. they take money from needy people for and mislead them.
I could say so much & I am not really sure where to begin, but I will attempt to share my experience with the rest of you….
I too, like several others, feel as if I have been “ripped off, scammed, become a victim” by Green Credit Soultions/PWF Inc./Guardian Credit Solutions/ the so-called lawyer-backed company with an identity crisis.
I began pursuing services from Green Credit/Guradian…. whatever they call themselves… coming up on a year ago. I was told this would take 90-120 days to process a loan modification. Here I am (as I already mentioned) almost a year later with no resolution. I, like many others, paid the $3000.00 & followed all their requests to provide “them” with the necessary information said needed to process this. They were very quick to accept the payment & information, but once they had everything they said that they needed, it began to go downhill.
I was told that I had been assigned a case manager & a negotiator who would stay in contact with me to keep me updated on the status of my case. Shortly after being in contact with the first “case manager”, I stopped receiving responses to any & all communication that I initiated. When I finally got in touch with a live human being, I was told that the case manager had “been out sick”. Okay…? Whatever. So, then I got assigned to a NEW case manager. A short while later, after many (& by “many”, I mean MANY) unanswered phone calls, faxes, emails, etc. the company changed names. All phone numbers printed on letterheads, business cards in the emails I originally received, stopped working. Great!!! Now what? Never was I notified that the company was changing names/phone numbers. I had to do quite a bit of reserch on my own to figure out what was actually going on. After all of that…again, I got assigned to a different case manager AND a different negotiator…both of which provided very little assistance/advice/support to my case. I frequently had to request information from two different “supervisors” about my case… who mostly told me that there was no new information they could provide me. They always ensured me that there would be someone calling me back regarding my case…. yeah, right! It RARELY happened.
To make a long story short… My lender never worked with Green Credit/whoever. They settled with me (& only me). I did all the work with my lender on my own without the help of a negotiator &/or Green Credit. The ONLY thing they “modified” was the balance in my savings account…which is now $3000.00 less than it used to be. I don’t feel as if they are deserving of my money when all they have done is cause more unneccessary stress.
I do understand that Green Credit/Guardian Credit Solutions is no more. I began to question the integrity of this “company” as soon as the communication dwindled. I like many others I’m sure, feel violated. How did they operate as long as they did? Why wasn’t Curtis Melone figured out sooner? As Krista Railey also said, how can borrowers obtain a current trust accounting and/or apply for a full refund?
As the mortgage crisis continues, I really hope that borrowers out there like myself are VERY careful in who they trust with their money & information. I also hope that scammers like this are put to rest & will pay for their consequences. The mortgage crisis is serious. Business that only claim to be Loan Mod companies who do nothing for the borrowers are only going to make things worse!!!!
even though the state bar shut these pieces o crap down…their cars are still in the lot and they continue to operate…cant wait for my court case!
I have the worst 2 cases of mortgage fraud. I have proof of every statement, payment and embezzlement of ob=ver $90,000 from our 1st case. The banks atty almost passed out when I presented proof. The bank had sold on 8/01/03 and this bank employee knew he had no more control over our payments and he would be exposed. The bank sold on 8/01/03 and he filed for foreclosure 0n 8/04/03 and our loan was paid off if the $90,000 in payments had been credited. The FBI was too overloaded. The Division of Banks said we had sent too much evidence to prove our accusations and he did not feel like reading it so he sent the complaint to the new bank and the decision was based on false info reported to the bank. The new mortgage I am crying and can’t finish typing I have a disability and I can’t type for long. I have everything there is no papertrail that has to be done. I need an ethical person who has a voice that will be heard to expose our case. I have letters from banks atty, D of B, AG, Office of Cons Affairs all politicians in our arear and FBI. This is the worst case you will ever see and I have the best record keeping you will ever see. Please contact me. Collene 781-878-7042
Is there anyone out there that has found a way to get thier
money back from green credit solutions???
Regan: my email address is randallmarquis@gmail.com. I can give you the most up-to-date info I have.
I just received a letter today from the State Bar Of California about Green Credit Law center operating a unlawful law practice. I’M SO SCARED AND CONFUSED. This company has taken well over $3000.00 from me. Is there anywhere I can go or call to try and get my money back???? PLEASE PLEASE someone help me. With todays economy ever penny counts.
Thank you for any help in advance that anyone can give me.
I would like to get a copy of that letter Vivian. And I would like you to contact me at randallmarquis@gmail.com.
Stop the confusion… I’ll let you know where you are at.
It is important to file a claim with the CA Bar Client Security Fund. If you have a small claims judgment and a real estate licensee was involved, you can also file a claim against the real estate recovery fund. Green Credit did have an active real estate license although they did not necessarily do business under that name. Therefore, if you a filing a small claims action, be sure and include Pacwest and Green Residential in the suit in addition to Curt Melone, et al.
Here is information on the CA Bar Client Security Fund:
http://calbar.ca.gov/state/calbar/calbar_generic.jsp?cid=10581&id=1599
And here is information on the CA Department of Real Estate Recovery Fund:
http://www.dre.ca.gov/cons_recovery_acct.html
The DRE recovery fund has aggregate limits per licensee, so be sure and name as many licensees as possible if you file a small claims suit.
Perhaps Randall can assist by writing a post that provides names and most recent addresses for service to assist those filing claims. Randall has done a great job of keeping tabs on this situation.
This is not legal advice, and I highly recommend that all parties that have lost money speak to a competent attorney. Many good attorneys will provide a free initial consultation.
If there are any investors that have invested in Green Credit Capital or LLC investments from GCS related parties, please share your information and experiences.
File this under ‘OOPS!’
Okay… we all know that Green Credit Solutions and all those things Curt and Chris were doing are closed… kinda… we hope. But they still have cash flow from all the debt consolidation contracts. In fact, if you would like to see what the Guardian Credit Services Contract looks like, someone was nice enough to post it on the Internet! Check it out… at least page one… this get’s better:
http://www.docstoc.com/docs/26714080/GREEN-CREDIT-SOLUTIONS
I contacted the California Secretary of State at 916-653-6814 and spoke with Marceen at the ‘Special Filings Area.’ A $100,000.00 bond is required under Civil Code section 1789.18 for Credit Service Organizations per the DOJ. Marceen tells me there is no bond now, nor has there been in the past for Guardian Credit Services.
But let’s get back to that contract above… on the bottom of page 1 under REQUIRED DISCLOSURES, Guardian states they maintain “a Bond as required” (in other words they are well aware, ignorance is no longer an excuse on the table) and further state a copy is on file with the Secretary of State. Even BETTER! They specify the Bond was issued by Hartford Fire Insurance!
We find no evidence of truth in the statements made by Guardian Credit, and even though Marceen went and checked through all the hard copies, she couldn’t find any evidence of compliance either. Secretary of State’s office says such Bond does not exist… calls the contract a lie.
Now how many contracts were signed in bad faith? How many people thought they could trust, actually relied on Guardian Credit Services because they put up a $100,000 Bond to back them up? Guardian even quoted the actual Civil code section, and put attorney Linda Klinger’s name next to it. She might not be very happy about that.
Yes… Special Agents are now aware of this little snafu… okay, maybe not so little.
We’ll soon know how many contracts were signed under what appears to be false pretences or whatever you call it. California’s DOJ is counting them.
Green Credit Solutions Wiki:
http://www.lender-reviews.com/vb/showthread.php/102-Green-Credit-Solutions-Wiki-Everything-you-wish-you-didn-t-need-to-know
Yep, we were one of the couples scamed by these idiots who prey on people who are already down on their luck. We did get our paperwork back from the California, Attoryney Generals Office, but they told us this is going to be a long drawn out court case and we will be very lucky to get our $3,500. back.
It is pretty sad when people like ourselves are in a situation where your spouse comes down with a deadly disorder and is no longer able to work and the bank is ready to foreclose because you can no longer make your house pmts. due to having to make a choice between his life or house pmts. So then your family comes together to give you the money for the money needed for the loan modification and to find out it is a scam, really SUCKS. Now we are stuck with our home still going to foreclosure, any day and a husband who is fighting for his life.
These people are the worse of the worse and I hope to God they pay the price for what they have done to all of us!
Hello,
I googled Cris Yanelli and found his name on this website. We came in contact with him to try to settle our debt with credit card companies. He said he worked for innovative law center. Do you know if this place is also a scam???? I have tried contacting them and Cris without success. Once we figured out they were not contacting the credit card companies we stopped paying them. The problem now is that the credit cards are now suing me. Please help me.