I am so proud!!  Thank you to Zana Darrow, our Wisconsin Mobile Loan Closers Network Founder, for talking to the right people and getting the word out on illegal and unethical practices in Loan Modifications for the State of Wisconsin.

As you may or may not know, some Modification Companies call apon us Mobile Notaries to take on the task of meeting with potential clients that they are offering to do a Loan Modification for.  At this meeting we were asked to have the potential clients sign paperwork (the application) that was to be sent back to them and in addition, we were asked to pick up checks to send back to them.  For one particular company, we were instructed to not leave a copy of the documents with the potential client.

As our Network started communicating about these appointments, we started to conclude something just wasnt right with them.  Zana started doing some research and come to find out, a particular company was working illegally in the State of Wisconsin.  The State of Wisconsin is now looking at these situations and putting some safeguards into place to protect the Wisconsin Consumer on Loan Modification Scams.

Zana has dedicated a whole page to this on her website.  Read here for more information:

http://winotary.com/wiloanmodifications.aspx

She was also interviewed via telephone for a local TV station:

http://www.wqow.com/global/video/flash/popupplayer.asp?ClipID1=4220140&h1=Bank%20Loans&vt1=v&at1=News&d1=83433&LaunchPageAdTag=News&activePane=info&rnd=70308106

Here is our Wisconsin Deptartment of Justice stepping in to abolish these illegal actions:

http://www.doj.state.wi.us/absolutenm/anmviewer.asp?a=1519&z=3

 

 
Post is included in group: Wisconsin Mortgage Brokers
Post is included in group: The Closing Table RE Professional Network
Post is included in group: Realtor Notaries
Post is included in group: Mobile Notary
Post is included in group: All About Mortgages/Mortgage Networking

5 Comments on Wisconsin Loan Modification News

OCT
20
Outside Blog

Great information...we are seeing a real change in California right now...new laws to protect consumers...it's about time...keep up the great work...it's nice to see ethical folks in the business

12:31pm • #1
NOV
18
Outside Blog

Agreed. California has recently forbid attorneys/LM companies from accepting up front payment of any kind. Hopefully more states will adopt this posture to help protect those looking for help!

7:30pm • #2
NOV
20

Great article! My mom was turned down for a loan modification with her lender and was then scammed out of 4k by a company in Florida. She then hired an A rated company in Glendale, Arizona named Mortgage Assistance Group and finally got a real loan modiification. Their information is below. We as consumers should really start keeping track of the good guys in the industry.

Mortgage Assistance Group

www-mag-az.com

623-486-4505

Paul
12:01pm • #3
NOV
23
Outside Blog

It is really a shame that a program that had such a good intent was twisted like it was. I'm glad to see that its coming to an end. Great information Lisa.

9:54am • #4

Yes, indeed it is a step in the right direction.  I am hopeful that more Wisconsin homeowners will see this information before falling into a very deep hole.

 

10:49am • #5

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Lisa Kimmel-Mobile Notary/Signing Agent

Stevens Point, WI

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Central Wisconsin Notary

Office Phone: (715) 544-0650

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