52 replies to this topic

[ducky]

Good call, stevethedad. Those poor people who are out of a home now. Talk about kicking someone when they are down.

[Steve Heard]

Good call, stevethedad. Those poor people who are out of a home now. Talk about kicking someone when they are down.

Reminds me of a few years ago when a modification company rep came to pitch his services at our office. He told us his fee was $3000, and that we could charge up to $2000, which they would collect from the seller and send to us.

The conversation went something like this:

I told him I thought the cost was pretty steep, and he said, "It's about 2 months worth of payments, and we're going to save them a lot more than that!"

I asked, "How do you guarantee it?"

He replied, "We're an attorney firm, and have an iron-clad contract. Once they sign up they have to pay."

I said, "No! How do you guarantee you'll be able to modify the loan?"

He said, "Oh, well, we don't take on the client if we don't think we can help them."

Right. We thanked him for his time and wished him luck.

[GreenwayRich]

Absolutely good catch Stevethedad,

At a recent California Association of Realtors legal update they let us know that they have added "forensic mortgage audits" and many other such euphemisms for loan modification to the law that prevents taking payment in advance for loan modification services in order to protect consumers from this type of scam!

[caligirlz]

Absolutely good catch Stevethedad,

At a recent California Association of Realtors legal update they let us know that they have added "forensic mortgage audits" and many other such euphemisms for loan modification to the law that prevents taking payment in advance for loan modification services in order to protect consumers from this type of scam!

Wasn't there some forensic audit company out of Rancho investigated & shut down for fraud last year? I thought I'd heard that "forensic mortgage audits" are some what of a scam too.

[Steve Heard]

Wasn't there some forensic audit company out of Rancho investigated & shut down for fraud last year? I thought I'd heard that "forensic mortgage audits" are some what of a scam too.

The very people who started this thread, 'US Loan Auditiors' http://www.loansafe....-services-scam.

I was suspicious from the start.

[Michael Hughes]

Sure signs to know you are in trouble:
1) You do anything in the Real Estate business other than sales/purchases (e.g. forensic audit aka loan modifications, etc)
2) You lie on a Public Forum and are called out about it
3) Catch SteveTheDad's attention


I read this post a hundred times earlier this year and read the story in the newspaper and never put 2 + 2 together until today. Good call!

[4thgenFolsomite]

The very people who started this thread, 'US Loan Auditiors' http://www.loansafe....-services-scam.

I was suspicious from the start.

Steve, you have my vote for Sheriff!!! or Attorney General or you name it! Way to go!!

[Steve Heard]

Thanks y'all. Being in the biz during the height of the free-wheeling, loosely regulated money-grabbing days, I've seen it all.

A lot of the guys who used to sell sub-prime loans are now in the business of 'rescuing' their victims with loan audit and modification scams.

It's dying out now, but they did manage to grab more money on the way out.