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loan modification: Tips On Avoiding Loan Modification Scams ~ California Attorney General - 08/13/09 11:29 AM
Loan Modifications Scams have popped up in California big time.  Our state Attorney General posts articles at its site with news on this ~ and how to Avoid Loan Modification Scams (click here). 
Five Tips to Avoid Being Scammed
1.  Don't pay up-front fees.
Foreclosure consultants are prohibited by law from collecting money before services are performed. 2.  Don't ignore letters from your lender or loan servicer.
Responding to those letters is your best bet for saving your house. 3.  Don't transfer title or sell your house to a "foreclosure rescuer."
Beware! This is a scam to convince homeowners they can … (2 comments)

loan modification: Foreclosure Prevention and Loan Modification Help The Right Way ~ If You Are Upside Down on Your Mortgage - 08/11/09 08:03 PM
Never use a private foreclosure prevention agent or loan modifier if they ask for advance fees to be paid. 

See my articles ~
Do Your Home Loan Modification Through Non-Profit Groups & Organizations (click here) Be Skeptical About Anyone Asking for Advance Fees to be Paid For Private Loan Modification Services (click here). Never use a private foreclosure prevention or loan modifier agent who advertises on television or radio, because many of these will be scammers.  
The loan modification business has attracted some bad guy deal makers.  It's good that some are being prosecuted by district attorneys for law violations, and others will have … (2 comments)

loan modification: NAR and Realtors® Testified Before Congress Asking for Reforms Against Predatory Lending and Loan Mod Practices - 05/11/09 11:24 AM
It's good that the National Association of Realtors® and members are coming out against predatory lending and loan mod scam practices.
See NAR press release  ~ Realtors Urge Congress to Stop Foreclosure Rescue Scams ~ May 6, 2009 ~ at Realtor.org.
NAR made recommendations to Congress to help prevent foreclosure rescue scams and protect consumers.  One of those is for passage of H.R. 1231, the US Foreclosure Rescue Fraud Act of 2009.  This proposed law would create minimum standards for disclosure and terms of service for individuals or firms offering their services as foreclosure consultants to distressed homeowners.
It's true that new law and/or government … (2 comments)

loan modification: Be Skeptical About Anyone Asking for Advance Fees to be Paid For Private Loan Modification Services - 03/19/09 10:08 AM
DON'T BE FOOLED.  PAYING FEES IN ADVANCE FOR PRIVATE LOAN MODIFICATION SERVICES DOESN'T MAKE SENSE.
For a list of California State approved private loan mod services, contact the California Department of Real Estate ~  http://www.dre.ca.gov/
If you hire a private loan mod service, make sure they do the work and succeed in getting you the modification before you have an obligation to pay.
The California Association of Realtors reports on March 18, 2009:  "SCAM ARTISTS USING FORGED LETTERHEAD TO CON CALIFORNIANS"
'California Attorney General Edmund G. Brown Jr. is warning consumers that scam artists are using the forged letterhead of major lenders to … (3 comments)

loan modification: President's Housing Plan 2009 Provides Limited Government Help For Existing Home Loans - 03/10/09 02:45 PM
The Obama administration on March 4, 2009, introduced its housing plan ... saying they intend to try and help up to 9 million struggling homeowners avoid foreclosure.
That's a dreamy goal.  I'd like to see that match with reality but don't have high expectations.
The US Obama Housing Plan 2009 can HELP WITH refinanced mortgages or MODIFIED LOANS ONLY IF  ...
First ~    You are borrowers who owe only up to 5 percent more than home's current value.
Second ~     Borrowers must provide their most recent income tax return, two pay stubs, and an "affidavit of financial hardship" to qualify, citing reasons behind their financial woes, such as job … (6 comments)

loan modification: Do Your Home Loan Modification Through Non-Profit Groups & Organizations - 02/22/09 11:14 AM
DON'T USE PRIVATE LOAN MODIFICATION SERVICES UNLESS THEY ARE APPROVED BY THE DEPARTMENT OF REAL ESTATE ... in your state and area.
Always check with non-profit groups and organizations first when asking for assistance about a home loan or mortgage modification.   Always make first contact with a reputable non-profit group for housing, financial or credit counseling. 


The U.S. Department of Housing and Urban Development (HUD) has a list of HUD-approved housing counseling agencies in California, available athttp://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?&webListAction=search&searchstate=CA. 
Also, the non-profit organization Homeownership Preservation Foundation has a 24/7 toll-free Homeowner's HOPE Hotline at (999) 995 HOPE or visit its site … (19 comments)

loan modification: Avoid The Scams ~ Don't Pay Fees Up Front For Private Mortgage Loan Modification Servicers - 02/18/09 06:06 PM
With so many folks upside down on home loans relative to value of their homes ... and some people having loan rates resetting ...  the mortgage loan mod business in California has grown signficantly during the past six months.

We know of private profit oriented mortgage loan modification servicers (including some lawyers) charging as much as $5,000 up front ... to contact your home lender and ask for a loan modificiation. 
A large majority of the folks paying these up front fees do not get loan modifications.  
And when there isn't a modification, some or all of the retainer money paid to the … (4 comments)

loan modification: Be Careful Using Private Home Loan Modification Consultants - 11/28/08 11:22 AM
Non-profit agencies and banks seem to be overwhelmed by the demand for their home loan modification services these days. 
Private consultants are doing business in California ... offering homeowners help getting banks to modify their loans.  These consultants charge a price for their services.  Some charge as much as $5,000 in advance, and some desperate homeowners, facing crisis, have paid.  But what is being accomplished for the money by these consultants?
A California Department of Real Estate spokesman said that this private home loan consulting is a new situation for the real estate industry.
Real estate brokers are required to obtain permission from the DRE to collect … (6 comments)

 
Long_harrison_11-21-2011 Rainmaker_large

Harrison K. Long, business, REALTOR®, GRI, Broker

Irvine, CA

More about me…

Explore Group, Coldwell Banker Previews, Irvine, South OC

Address: 6833 Quail Hill Parkway, Irvine, CA, 92603

Office Phone: (949) 854-7747

Cell Phone: (949) 701-2515

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