ROSEVILLE, CA – A well-known mortgage company that offered a money-back guarantee for loan modifications has notified its clients that it is going out of business and will not honor any refunds.
Pro City Mortgage had advertised heavily on Sacramento radio stations and boasted as recently as May about its success in modifying more than 1,200 mortgages.
But in a June 29 letter, clients were told that “the company no longer has the financial capability to continue its operations… at this time, Pro City does not have the money for any refunds.”
The letter said some employees had already been laid off and the rest would soon follow. Department of Real Estate records show Pro City employed 17 licensed salespeople.
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This is very upsetting. We never got a letter stating that they were going under. Now our money is gone. How these people were able to operate like this is amazing. Karma.
I still have an uncashed check from this company, and the bank UMPQUA, refuses to honor and or cash. I lost my home, my credit standing, and now this lousy worthless check. BBB stated they were clean when I first signed with this shyster company. I lose all, they win. Is there any help to be had?
Pro City Mortgage sales people made promises and when it was time to sign the contract they pulled back on what they would put in writing, but kept saying that they would deliver. I got the modification but it was nothing like they promised. I only paid half their fee and now they are taking me to small claims court for the remainder. Any ideas or suggestions. Anybody need a witness against them, I sure do.