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Shirley Smith was concerned because she had an upcoming mortgage payments that was going to be short. She saw a television commercial from an attorney that claimed they could do a loan modification. The company was a California based company that has been claiming to To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. anywhere with a loan modification.
When Shirley called, a representative told her the company could almost certainly get her mortgage rate lowered significantly. Perry hesitantly followed the representative’s instructions to stop paying her mortgage, and she scrounged up the company’s hefty fee: $3,000.
“That was a lot of money,” she said. “But I felt confident that they would help me.”
They didn’t.
Thousands of desperate homeowners across the country have turned to for-profit companies that promise to To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. and gain loan modifications. The vast majority of the companies, regulators say, are con artists who take large upfront fees and do little, if anything, for home-owners.
“It’s one of the most despicable crimes you can commit,” said R. Scott Palmer, chief of the Florida attorney general’s mortgage fraud task force. “It’s taking the last penny a consumer has and on top of that they lose their house and their credit.”
Many of* the loan modification companies attract customers with company names that are similar to government agencies and or direct mail that looks like documents from the mortgage companies. It is unfortunate once a homeowner comes to the conclusion that they have been scammed it is late in the To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. and sometimes with many lenders it is too late.
Last month the Federal Trade Commission started a law enforcement initiative involving over 25 state and federal agencies. The effort is to combat the widespread foreclosure scammers that are taking money from homeowners and not helping stop foreclosure.
“Homeowners nationwide are becoming victims of these To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. scams,” said Frank Dorman of the FTC.
In the state of Georgia, the Consumer Affairs in the Governor’s Office have already opened eleven cases researching Georgia based To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. rescue companies — they have opened eight civil cases and three criminal cases.
There have been nine cease and desist orders in the last 3 months involving the foreclosure help companies by the Georgia Department of Banking.
In the state of Florida, has become on of the nations most aggressive battlegrounds for fighting foreclosure help companies, the office of the attorney general are investigating 81 foreclosure rescue companies and reviewing 86 other companies promising a To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.. In Florida To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. companies can not accept upfront fees so that is the law being broken and companies are being prosecuted.
In a case last month in Florida a company called FHA All Day was taken down (unbelievable name). This company was doing over a million a month contacting homeowners nationwide via telemarketers and direct mail. They even used Barack Obama’s voice to convince homeowners to sign up fore To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily..
There are a few companies that will work on the behalf of consumers, law enforcement officials stated these companies are rare. Be sure they are members of the Better Business Bureau.


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