Addressing the growing wave of loan modification services that promise but don’t deliver assistance to homeowners burdened by mortgage payments they can no longer afford, the California Attorney General promised in hearings held in Southern California to aggressively target these companies especially those advertising on television.
Tags: California Attorney General, jerry brown, Linkedin, loan modification, mortgage scams
Reading Tea Leaves by Randy Wilson 
March 31, 2009 at 6:18 pm |
I received a Loan Modification offer in the mail and contacted Home First Inc. in San Diego, CA to start the process. My house is upside down and behind on payments. They said the could lower the prime and reduce the % to a fixed rate. I want to make sure this is not a scam. The ask for $500. up front to process paper work and then if they can do a modification another $1,000, and then $2000. So $3,500. total. This is a lot of money to me since I have been out of work, have rented my house out and moved into a 1 bdrm apt. and losing money every month, and living on soon to be gone savings. My loan was with World Savings, who was bought by Wachovia, who has now been bought by Well Fargo.
March 31, 2009 at 6:55 pm |
I would suggest calling the CA AG office and letting them know and seeing if they have advice for how you should handle this. Thanks for sharing Pam!
May 14, 2009 at 2:54 am |
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