From the category archives:

Homeowner Scams

Foreclosure Scam Firm Agrees to Pay $110,000

by Moe Bedard

That’s when Howard County consumer protection officials stepped in, filing suit against Stewart D. Sachs, president of Bay Capital Corp., which sent the letters; and Heavyweight Title Co. They also obtained a temporary restraining order to prevent the eviction of Betty J. Bullock, who was 63 and legally blind at the time she signed the [...]

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First Universal Lending: Florida Loan Modification Firm Shut Down

by Moe Bedard

Arkansas Securities Commissioner A. Heath Abshure issues a press release pertaining to the entry of an order directing First Universal Lending, LLC to immediately cease and desist from all mortgage loan activity in Arkansas until properly licensed.

Source: Arkansas Securities Dept.

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Illegal Loan Mod Agents Needed: Work From Home & Must Close on 1st Call

by Moe Bedard

Yes, another classified ad for what I feel MUST be an illegal loan modification chop shop. This time it is in Santa Barbara, California.

WANTED – Experienced Loan Modification Deal Closers (Santa Barbara)
Posted December 10th, 2009 by Accounting Fina…City: Santabarbara
We’re looking for motivated experienced HIGH PRODUCING LOAN MOD DEAL CLOSERS with a strong closing experience and [...]

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Help Modify Now & Consumer Resource Law Center: CEO, Larry Ervan Gunter Arrested by Newport Beach PD

by Moe Bedard

Newport Beach Police say Help Modify Now and Consumer Resource Law Center CEO has been arrested. The NBPD is informing the public that this man has allegedly ripped off more than 50 people nationwide who were hired his firm to perform a loan modification.
I reported on this company last month due to complaints I was receiving via my blog [...]

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The Lamb Group & US Consumer Solutions: North Carolina AG Files Lawsuit

by Moe Bedard

AG Cooper stops Kannapolis foreclosure scam – Release date: 12/4/2009
Raleigh: A Kannapolis foreclosure rescue operation is barred from collecting any money from consumers for foreclosure assistance or loan modifications, Attorney General Roy Cooper announced Friday.

“Scammers entice struggling homeowners with false promises of lower mortgage payments, then do little or nothing to help them,” Cooper said. [...]

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Homesavers CEO, Philip Seibel Sent to Oklahoma Prison

by Moe Bedard

EDMOND, Okla. — An Edmond man has been sentenced to 30 months in prison for money laundering.
Phillip Seibel, who pleaded guilty July 22, also was ordered Wednesday to pay $770,037 in restitution.
Prosecutors say Seibel formed Homesavers LLC, which contacted homeowners who were facing foreclosure. Homesavers promised to find investors to purchase the homes and allow [...]

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Crowder Law Center or Group: Still Advertising for Clients After FTC Lawsuit

by Moe Bedard

It looks like this loan modification firm that was sued by the FTC is still very much in business
I wrote about the FTC actions against Crowder Law Group last month.
The FTC is suing these people and companies below involved in this operation that seems to doing business across the country.
FTC
VS.

WASHINGTON DATA RESOURCES, INC.,
a Florida corporation,
OPTIMUM BUSINESS SOLUTIONS, LLC,
a Nevada limited liability [...]

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Beware of These Loan Modification Scams

by Moe Bedard

Types of loan-modification scams
• Falsely portraying employees as government counselors approved by the Department of Housing and Urban Development.
• Operating with names similar to housing non-profits to confuse homeowners.
• Using lists of foreclosure auctions to cold-call people behind on mortgages.
• Targeting specific groups, such as the elderly, and claim close contacts with lenders.
Read more from [...]

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Chinese Drywall Victims Get a Break

by Moe Bedard

For Michelle Fernandez and others who have discovered they are surrounded by the infamous toxic Chinese drywall, not so much.
Fernandez says the stuff has tarnished her sterling silver, ruined her air conditioning and, most importantly, made her really sick and dizzy.
“I would have to hold the walls to walk,” she recalled.
Thursday morning Miami-Dade Mayor Carlos [...]

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Loan Mod Reps Needed – Earn Between $900 and $1000 Per Case

by Moe Bedard

Sometimes I can’t believe my eyes when I see these loan modification want ads appears on Craigslist in my old home time of Corona, California. No where in this ad (posted below) does it say they are looking for licensed attorneys and the company clearly states that they pay $900 and $1000 per case.

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States Struggle to Fight Loan Modification Scams

by Moe Bedard

His answer: a California company that pledged to get his mortgage loan modified. In return, the firm wanted nearly $2,000 upfront, and a seemingly affiliated debt-relief group asked for another $1,000. Desperate, Mr. Davis paid up.

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Freedom Foreclosure Prevention Services Settles With the FTC for $5.4 Million

by Moe Bedard

FTC – The Commission has agreed to settlements in its case against Freedom Foreclosure Prevention Services, LLC that, pending court approval, would ban Jeffrey Segal and Michael Workman from working in the loan modification industry and bar them from misrepresenting material facts in selling any goods or services.
The settlements also would impose suspended judgments of [...]

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Crowder Law Group – FTC Says They Acted Like the Feds to Dupe Homeowners

by Moe Bedard

Crowder Law Group and its co-defendants allegedly misrepresented themselves as a federal government agency or affiliate. Their personalized postcards to consumers stated, “You may qualify under the new government bailout to refinance your current mortgage . . . ” Some postcards described the defendants’ programs as federal programs and were signed by an attorney in [...]

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Crossland Credit Consulting – FTC Files Lawsuit and Freezes Assets

by Moe Bedard

Crossland Credit Consulting Corp. out of Flordia and its co-defendants allegedly operated deceptive mortgage refinancing, credit repair, and loan modification schemes.
According to the FTC complaint, they falsely promised to use proceeds from mortgage refinances to promptly pay off consumers’ original loans, but often pocketed the money instead. They misrepresented that they would repair consumers’ credit records [...]

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Oaktree CFPG: Is this another rogue loan modification company?

by Moe Bedard

Sometimes I wonder if some of these loan modification companies ever read the news or bother to do their due diligence with state and federal laws before they dive in head first into the business. Take for example this company that is advertising here in the Inland Empire of Southern California.
A company out of Seattle [...]

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Summer Creek Homes & Chris Shepard: They stole my home!

by Moe Bedard

Submitted by Homeowner, Ron Calvin: I received two letters asking to submit more docs for loan mod. So I submit, meanwhile Chris Shepard dba Summer Creek Homes puts title in his name. I called Linh Nguyen my negotiator and he tells me that the title could not be in his name because AMHSI owns the property. [...]

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Greenleaf Legal Services: DRE says they’re operating illegally and they need to be stopped

by Moe Bedard

Authorities said Greenleaf’s website falsely advertises it’s “approved” by the Department of Real Estate.
“They’re not approved to do loan modifications,” said Commissioner Jeff Davi of the Department of Real Estate. “It’s false, misleading and completely inaccurate. And we are going to ensure that it gets off his website as soon as possible.”
Greenleaf never registered with [...]

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Loan Modification Scammer Receives 12 Years in Prison

by Moe Bedard

This has to be the longest prison sentence that I have seen for scamming homeowners and scammers really should take notice.
You know the old saying, “If you can’t do the time, don’t do the crime?” For some reason I just do not think that these little creepy mortgage and real estate scammers do not analyse their crimes deep [...]

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K.N.C. Financiera Inc.: California DRE Files Cease and Desist

by Moe Bedard

The California Department of Real Estate has issued an order to “desist and refrain” to the operators of K.N.C. Financiera Inc., a Bakersfield company that was marketing loan modification services even though its leaders did not have real estate licenses, according to the state.
The two principals of the company “at no time” have been licensed [...]

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Help Modify Now & Consumer Resource Law Services: Homeowner says they are a scam!

by Moe Bedard

Submitted by a Ripped Off Homeowner
Dear Moe,
My advice to all who read this would be to beware of anyone claiming that they can do better then you at negotiating with your lender. I paid $3,000 to “Help Modify Now” out of Newport Beach, California last April and am afraid that I have become yet another [...]

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