Loan modification scams way up in California

The California Department of Corporations and Real Estate announced that a loan modification service called 2nd Chance Negotiation Inc. has been ordered to stop offering its service as its not licensed to do so.  The California official went on to say that complaints about loan modification services have skyrocketed from fewer than ten in July 2008 to more than 500 today.

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4 Responses to “Loan modification scams way up in California”

  1. Imee Says:

    This is a very sad fact… Not just in California actually, although it’s very rampant there. But elsewhere around the country, there’s so many mortgage fraud cases. It’s sickening. I hope the steps the feds are taking will be enough to stamp out that stupid crime.

    • Randy Wilson Says:

      Yes, I was visiting my elderly parents and saw infomercials on loan modifications, making them sound like the best thing in the world! Maybe the FCC needs to get involved.

  2. Arthur Says:

    I was one of those people who trusted 2nd chance negotiations. After paying the up front fee. They rarely followed up with me the status of my loan modification. It’s been 6 months now and still nothing have happened. is there any legal way for me to get my money back? Your response will be greatly appreciated.

    • Randy Wilson Says:

      Contact your state’s attorney generals office or state office of consumer affairs. They should be able to assist you with the best course of action. Good luck!

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