Tag Archives: Scam

Scam Loan Modifications Companies Closed Down — Only BOSS Supplying Down, No Danger Modifications

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Las Vegas, NV (PRWEB) November 17, 2009

November has been a dramatic month for numerous businesses involved in loan modifications in Nevada. According to attorney Marco Sanchez, who performs with BOSS Loan Modifications, LLC (NV License #3342), the Nevada Legislature passed down permanent regulations for loan modification companies statewide, requiring them to comply with mandatory regulations by November 2009. The State issued a list of companies who complied with the requirements and these who did not. As an lawyer who practices in loan modifications, Sanchez stated he was “thrilled” that Nevada enacted laws to safeguard property owners from the predators who were taking truthful homeowners’ income by making promises of lowered payments or acquiring the homeowners out of foreclosure and then failing to supply the solutions promised. Sanchez went on to clarify “Several scam firms would take the homeowners’ funds and do definitely practically nothing, leaving the property owners devastated.”

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The new laws had been enacted against the backdrop of information that consists of estimates from the Congressional Oversight Panel that over 5 million properties entered foreclosure because July 2007 with Nevada being one particular of the hardest hit states. Final week, the US Division of the Treasury also released data indicating that over 650,000 loan modifications had been “beneath way” across the nation. What we do not know is how a lot of modifications are permanent as “trial” modifications (exactly where mortgages are modified from brief periods of time – usually 3 months) have outnumbered permanent modifications in excess of one hundred to 1 in some reports. It would look that Nevada recognized that the loan modification method is not simple and that firms that help home owners require to be meet stringent requirements prior to assisting homeowners.

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For instance, Nevada law demands loan modification firms to carry a $ 75,000 surety bond and for their principals to undergo FBI criminal background checks, credit checks, and to fulfill 25 hours of specialized education. The intent of these arduous requirements was to weed out the scammers and con-artist even so, the new laws had one more unintended effect: it brought on some good smaller sized loan modification firms to cease operations. Sanchez explained that the bonds required cost anyplace from a “couple of thousand dollars to over seven thousand dollars”, plus “the company may possibly still have to come up with capital, say $ 25,000, to safe the bond.” In other words, for some loan modification organizations, the bill would be over $ 30,000 just to stay in enterprise. A lot of truthful, hardworking, loan modification firms could not comply with the bonding requirement and have been forced to shut down their companies, refund any income collected on the loan modifications they had been processing and then transfer their files to a compliant loan modification firm. Sanchez notes “The sad truth is that the poor loan modification businesses will possibly continue to run their scams – why would one far more law to break scare them?”

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The good news is that the new laws have given homeowners an easy resource to use to select a loan modification company. This must at least give home owners a much better chance of achievement in the modification approach. Sanchez adds “All property owners searching at hiring a loan modification business need to require the loan modification business to back up their promises with a guaranty or, far better however, to ask the loan modification company to deal with the modification for no income down.” This is probably the best defense a customer can have – spend only right after the loan modification has been obtained. The data recommend that the loan modification procedure is an uphill battle. Why risk throwing away additional cash?

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Sanchez went on to clarify that BOSS Loan Modifications, LLC is now offering the residents of Nevada no risk “No Income Down Loan Modifications.” If you don’t get modified you do not pay. For A lot more Info on BOSS Loan Modifications and to obtain access to free of charge info on the loan modification procedure, go to http://www.bossloanmodifications.com

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Marco Sanchez is an attorney licensed in each Texas and Nevada. He performs mostly is the area of loan modifications for residential, rental and industrial properties. BOSS Loan Modifications, LLC is the only business at present providing no funds down loan modifications in the greater Las Vegas region.

Mortgage Complaint Center Warns about 2011 US Genuine Estate Values Says Now is the Time to Refinance & Warns of Foreclosure Scam Artists

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(Vocus/PRWEB) December 07, 2010

The National Mortgage Complaint Center says, “because we anticipate 2011 to be one more train wreck, with respect to US residential true estate valuations, due in big component to up to a million plus US foreclosures becoming dumped-now may be the last time for home owners with equity, and good credit to refinance just before their house goes underwater as well, or interest prices go up.” The group is vigorously warning against employing mortgage services marketing on Tv, about letting bankers kill each and every other for the ideal rates, or offers of five% or much more for high top quality borrowers. If a homeowner wants the see what the ideal prices are, merely contact American Interbanc at 1-800-724-0004, or verify with Bank of America. The present best residential true estate mortgage prices are about four.25% at this moment. The group says, “you would of believed the worst of the predatory mortgage lenders would have been gone soon after the US mortgage meltdown, but some are back. If you have equity in your property, and if your credit score is above 740, you will get the ideal prices, and charges from American Interbanc, or Bank of America. If you are hunting to do a FHA, or VA mortgage we advise the James B Nutter Organization.” http://NationalMortgageComplaintCenter.Com

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Mortgage Foreclosure Scam Artists: The National Mortgage Complaint Center says, “we do not comprehend how, or why the United States Division of Justice has not shut down the key-mortgage foreclosure support, or relief-scam artists? These kinds of businesses are entirely ripping off home owners, with promises of a loan modification, the buyers are then foolishly providing these organizations thousands up front-and that is the final they hear from the organization.” The group says, “here is the reality-if you have not produced your mortgage payment for one particular, or two years-you are going to drop your home. As far as we are concerned the Obama, or Pelosi homeowner salvation programs have been a gigantic waste of taxpayer income, and we require to get back to the actual globe. If you don’t make your mortgage payments, you will drop your home to foreclosure.” They say, “if you are trying to shield your property, and if you consider you have valid proof about lender misconduct, seek advice from your nearby Legal Bar Association to see what attorneys do mortgage modification work, and or bankruptcies in your location.” http://NationalMortgageComplaintCenter.Com

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The US Residential Real Estate Outlook Gets Worse: The National Mortgage Complaint Center says, “ever hear of toxic Chinese drywall? The nation requirements to prepare for this worsening disaster. One of our affiliated groups has now formally referred to as for a moratorium on US banks reselling toxic Chinese drywall foreclosures in Florida, Alabama, Mississippi, Louisiana, Virginia, and Southeast Texas, until the Fed’s come up with a affordable, and secure way to repair these properties-if not they will need to have to be bulldozed.” Toxic Chinese drywall began entering the United States as early as 2001. The gas emissions from toxic Chinese drywall are undesirable adequate to corrode electrical wires, and turn copper pipes black. The group estimates there are at least 200,000+ toxic Chinese drywall homes in the US Southeast alone. The group fears in 2011 toxic Chinese drywall will be found in all 50 US States. The National Mortgage Complaint Center is saying, “toxic Chinese drywall is a game changer for all US home owners, for all US banks, and for the US homebuilding market, and its going to get genuinely ugly in 2011.” For more data about toxic Chinese drywall please visit http://ChineseDrywallComplaintCenter.Com

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Critical Note: The National Mortgage Complaint Center is saying, “the vast majority of US home owners are more than paying on their house taxes. In some circumstances it could be thousands, and thousands of dollars every year. Verify with your neighborhood genuine estate agents to see what comparable homes in your neighborhood are promoting for, and then check your house tax bill. If you are over paying speak to your county assessor for info associated to a home tax assessment correction.” http://NationalMortgageComplaintCenter.Com

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Homeowners Consumer Center Warns Millions Of US Citizens Who Have A Home Mortgage Worth More Than The Home’s True Value-Don’t Get Taken By A Loan Modification Scam

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(PRWEB) July 16, 2012

The Homeowners Consumer Center is one of the premier homeowner advocates in the United States, and they are warning all US homeowners to be extremely cautious about cable TV ads suggesting help for millions of US homeowners seeking a loan modification, because they owe more on the home than it is worth. In one instance the Homeowners Consumer Center called one of the so called loan modification companies, and the firm wanted $ 795 up front for a do it yourself loan modification booklet. The Homeowners Consumer Center says, “If you call your bank, or loan servicing company they will send you loan modification self help information for free. Why pay for something your bank, or loan servicing company will provide you for free? If a homeowner is really serious about a loan modification we are urging them to only hire a licensed law firm, or attorney that knows what they are doing with respect to loan modifications. Do not try to do a loan modification without a law firm, or attorney in your corner.” http://HomeownersConsumerCenter.Com

Does the Homeowners Consumer Center have any suggestions as to what law firm might be able to help millions of US homeowners in all 50 US States? The answer is 100% Yes. In May of 2012 The Homeowners Consumer Center endorsed the law offices of M.E. Ludt for any US homeowner seeking assistance with a loan modification, mortgage workout, foreclosure defense, or pre-foreclosure related issues. The group says, “With so many non attorneys offering these types of services, we fear many desperate homeowners pay for something they never get. The Law Offices of M.E. Ludt consistently achieves significant results for homeowners seeking legal help with their mortgage, with a foreclosure, a mortgage workout, or with mortgage loan modifications throughout the US.” The Homeowners Consumer Center has endorsed the Law Office of M. E. Ludt because they deliver considerable results, and they have amazing capabilities for homeowners in all 50 states. The Homeowners Consumer Center says, “If a homeowner has verifiable income, if the homeowner qualifies for one of the MHA income/expense hardships, if the homeowner has received a mortgage default notification, if the homeowner is facing a foreclosure, or if the homeowner wants to negotiate better terms for their mortgage, there is a very good chance the Law Offices of M.E. Ludt can assist them.” For more information about the nationwide services being offered by the law firm of M E. Ludt please call 1-888-364-8844. http://MELudtLaw.us