Homeowners, protect yourself from Loan Modifications Scams. These con artists will demand an upfront fees in order for them to proceed with assisting you in modifying your loan. Don’t become one of the statistics. Please beware as some ruthless “rescuers” will prey on homeowners who are in financial stress.
These companies claim that they can modify one or more terms of the loan agreement. This can be in the form of lowering the interest rate or extending the length of the loan from say 30 to 40 years. Other terms that they claim are to turn an adjustable rate into a fixed rate or deferring some of the payments of the loan. In any case, they will do what is needed to restructure the loan to be more manageable. It sounds good and dandy but the outcome is otherwise.
Over the weekend, I’ve encountered 3 homeowners who paid from $2500 up to $5000 to companies who claim that they can fix the problems and lower the monthly mortgage payments for these homeowners. Upon looking at their paperwork, I discovered the sad truth that these homeowners sign off on this “non-refundable” clause in the contract. It is horrendous whenever I find that other “professional” are preying on these homeowners.
With the passage of the California Civil Code Section 2945, a homeowner cannot be charged “any fees for assisting in and/or obtaining a loan modification prior to its completion”. When we assist homeowners to modify their loans, we never charge any upfront fees. Scammers that go around committing these acts are tainting the name of the ‘profession’. We are doing what we can to correct the ‘profession’ and in the process assist the homeowners in getting the services and solution they need.
——————————————-o———————————————
Looking For LOAN MODIFICATIONS? NO UPFRONT FEES!
Don’t Let the Bank FORECLOSE. SAVE Your HOME…We Can Help.
Contact:
DAVID DEE - Associate Broker / Realtor®
Foreclosure Prevention Consultant
Cell: (626) 203-5676
www.SoCalRealEstateReport.com
“Client 1st. That’s the David Dee Guarantee.”
Century 21 Excellence -We have 5 Offices to Serve You-
Specializing in: (SAN GABRIEL VALLEY) San Gabriel, Rosemead, Alhambra, Monterey Park, Arcadia, Temple City, El Monte, Hacienda Heights, Rowland Heights, Walnut, West Covina and
(N. ORANGE COUNTY) Anaheim, Buena Park, Westminster, Garden Grove, Fountain Valley and other surrounding areas.
Copyright © 2009 by DAVID DEE. All Rights Reserved.
