I first called the number on the website, after seeing an Ad on TV that seemed to suggest that there is a Federal Modification Department somewhere, that sorts out Federal Modification loans. FedMod.com. I told Stefan at FedMod that I had already applied for a modification to my loan with my Mortgage Service but that it seemed to be taking them up to 60 days to make a decision and I am facing the possible consequence of not being able to meet my payments in the near future. Would they advise me on this AS 60 DAYS IS A LONG TIME.
Anyway to cut a long story short, after giving them all the information I had already sent to my own lender, Stefan said that my lender was probably not wanting to give me a loan modification and that they are a Law Firm who mediates the application with my lender. When I asked him to spell the name of the law firm, he said ANS & Associates, then said ANZ and Associates and said 'We are definitely a Law Firm it has it over the door.' I said, "Are you at 7555 Irvine Center Drive?' He said 'Yes.' So I asked him for the zip code and he gave me one that did not correspond with the one on the webpage. When I told him this, he said he lives 'Just down the road.' and he thought it must be the same as his zip, but that it must have changed...
You know, I Thank usacomplaints.com that when I looked up ANZ and Associates that there was already a bad report in there so I was not tempted to try to use a credit card to pay this unscrupulous Company $1000 because of my desperate situation.
Stefan did not even know the correct address for the Law Firm he was supposedly representing. Then when he asked me how I was wanting to pay the $1000 the Law Firm needed to send me the paperwork, I told him, how am I going to find $1000? Stefan told me 'with what they could get me in saving on my mortgage payments, at least 40-45% every month, that their services would pay for themselves in 3 months.' Then I reminded him of our conversation about how my husband and I are facing not meeting payments because of me losing my job and only having a part time income now, he said that he would provide a money back guarantee... Then I started to think that all of this was very fishy!
Stefan told me about a case that he just had where the man's $1800 mortgage had become just $1000 per month and that his company had managed to negotiate this. He also said lawyers don't work probono and they would work with me to make the total $3495 total payment due to them. When I asked him what the payment schedule was he changed the initial down payment, he said, "$750 down, then a few hundred in 2 weeks, then in 1 month another $1000 and then'... He spluttered to a halt. So Stefan was saying in effect, that to continue with the case, the whole sum would have to be paid before the 60-90 day period it would take to get the first of the negotiations going and hear back from them.
What Law firm demands the whole sum before they have even started to negotiate? How do I know we even have a contract? How am I going to get my money back from them if all of this is a bluff or a scam? Who are these people? What is more disturbing, is I could hear lots of background noise (that could just be a recording anyway) of people on many telephones. This had all the earmarks of just being a call center and not a law firm at all. How can Federal Law allow people to call themselves Federal Modification, when Federal Government has not authorized usage of such a name?
I advise all people wishing to get a modification loan to send in their request to their OWN lending company, because it is they at the end of the day who will make all the decisions anyway. And if these people are NOT a law firm, then they have no more power than you yourself have, to get a modification.
I sat down and spent hours working out our average payments and income per month for the last 12 months. I sent in 8 pages of what my lender needed to process my application. So no matter who asks for the modification, or who negotiates it, you will also have the same amount of hard work to ask for what you need. So just do it! And forget about trying to find an extra $3,495 FOR SOME SPURIOUS LAW FIRM WHO MAY NOT EVEN BE A LAW FIRM TO DO IT.
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