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8 Comments on Loan Modifications - Can we Charge a Fee?
Kathleen - excellent blog. I thought I was illegal in the entire United States, but for sure it is here in Arizona, as well. I've suggested this for a feature because the word needs to get out to more homeowners. There are still unscrupulous companies out there calling it by "different" names, but still getting away with charging fees. It's disgusting. Great job for knowing where to refer them.
Juli, We never know who is on the other end of our phone. There was something so odd/strange about the call. She sounded like she was clueless about the California Deparment of Real Estate. I refrained from disclosing the company name and phone number ... just wanted to get the word out that upfront fees are illegal. You may be right ... it may be nationwide. Thanks for the Suggest - very nice of you.
Kathleen, what an amazing call. We used to have an 800 number and got all sorts of crazy calls. Ready weird stuff, and not worth the 800 cost. Most people use cell phones these days anyway.
It is amazing the calls and letters homeowners get. I've seen a lot of letters - its amazing what people will tell homeowners......and many patently illegal. However, I have seen letters from BofA investors offering a loan mod for an upfront fee. One of my short sale clients did follow thru with that and got a loan mod that worked for them. Of course I lost the short sale.
John, It is amazing that people continue to do what they can to make a buck under the premise of “helping people” and try to find ways around the laws to do it! Some don’t even bother to find ways around the laws … they will scam and sell their mother for a dime! Thanks for your comment.
Kathleen, very scary.....Benicia is my hometown!
You're right Kathleen, that really was a strange call...almost as if they were "testing" you for the right answer. "Can we charge a fee?" Hmmm...a little suspicious to say the least.
You certainly did the right thing Kathleen, providing information where these folks could go to get the correct information... on another note, even tho I was the personal insurance broker for Eddie Mercury's drummer, I've never seen this rendition of the old Pretenders song... thanks for sharing!
Melanie, I thought of you when I realized the company was located in Benicia. Thanks for stopping by.
David, I get a lot of random calls on my 800 # ... sometimes I do feel tested. It's bitter-sweet. People are finding me on the Internet - yet some of the calls are bizarre. Thanks for your comment.
Peggy, Oh my goodness. We just keep learning more and more about you. That song popped into my head after I hung up the phone ... so off to YouTube to find the song! Thanks for your comment.