I have paid for a loan mod with Elect Group in December. They called me 4 times a day promising a lower interest rate and lower payment and no payment to a loan mod for 3 months. They gave me a link where thee BBB gives them a star of approval. They told me not to make payments to my mortgage holder or contact them... I paid them $1100 to hire their services for a loan modification, but now they don't answer the phone or call back unless I make a threat. My progress report on their website show nothing new since Dec. And everytime I try to login it says wrong password. I know it right because I wrote it down. When I call they fix the password so I can see no new progress and the next time I try it won't login again. I am ready to have a nervous breakdown as we are in foreclosure because of elect group. I have listed their feedback of complaint letters which is multiplying daily.
Please help me in this very bad situation. Advice or help would be greatly appreciated as I don't want to lose my home.
Sincerely,
Steve and Faith K
.
Myrtle Beach, SC 29577
(843) xxx-xxxx
(843) xxx-xxxx (REDACATED FOR SECURITY PURPOSES)
Elect Group
Virginia of Long Beach, CA April 14
I signed with Elect Group Aug. 2008; I sent in all requested documents; paid the fee. The person I worked with, Melissa, did not return emails, or calls; I finally spoke with her and she said would resubmit the mod request; More than once, I asked her for copies and to email to me a synopsis of when she spoke with IndyMac; she never did. To date, 4/13, Melissa has not completed the modification; she has not answered emails or calls from March and April. I am heart broken! Elect Group lies, delays, and does not follow through. Elect Group does not keep the client updated.
I am fighting to keep my home; a trustee sale date has been set, 4/30; Elect Group is a rip off; and I would never ever recommend it to anyone!
Nina of Magnolia, NJ April 14
I started back in Oct. Of charge was monthly Mort. Paymt of 1575., took months before i would be able to talk with someone which i had to initiate the call, always leaving messages, no response, when you call and threaten then someone would take the initive to call you, which excuses was i 've tried to reach by your home # which had been disconected for months, they were informed by messages of all new #'s, times to be reach they would also try to send me to website to followup with up to date news, which always show the date i finally capliabe of actually speaking with someone, and only stated what we just talk about.
2 weeks ago Country Wide called me hear at my job, i had been told not to talk them at all, only corresspone with electgroup only, well Country Wide said that they hadnt heard from ElectGoup and that they hadnt spoke to them until 1 week before calling me, and had informed them that my case was close, so they Country Wide were extending a call to me to see if i wanted to work out something, The offer is I will recieve a large envelope, i'm to fill out sign & send all info requested back to them with $3000., then as of May, June, July I will need to send $1575.By 15th of each month, still no guarantee If I will qualify for Modificationm.
My org. Mort. Pymt was $1575. At 7.9 interest rate fix. Keep in mind I never miss a Mort. Pymt. Only late, this group ElectGroup told me that once they accept my case, Ii'm not to send anymore pymts until I here from them. Now I'm 6 months in the arrears, and no one wants to talk about it, they totally ignor you. As of today I'm still trying to reach someone, to answer questions
Since I've spoken with Country Wide, I called J. Centauro at 9:50 am, once again left message with all #'s to be reach at. I can't believe all of us have been suckered in by these people, ther should be a law against that. Country Wide, I'm asking for a Modification. They're acting like I did something wrong, you all of sudden get a call from your Mort.Co. Telling you your case was close, would you tell them you don't have any money, your scared, so you say what you think they want to hear.
Now I'm in a commitment with Country Wide, that i should not be in, No gaurantees at all, I paid a co. $1575 for something Country Wide considers me handling. I'm requesting a refund, Country Wide has also inform me that my house is still up for forecloser.
Marcey of Tamarac, FL April 12
The Elect Group accepted payment in full from me of $2100 for a loan modification in August. To date, my loan was never modified, nor was I provided with any denial letter. I gave up on the company because I felt as if they were not providing me with any meaningful service and asked for a refund. They refused to respond to my request. Elect Group is now verbally alleging that my modification was denied and that I would be given a 50% refund. They have never provided me with a denial letter or any type of official documentation from the lender of the denial. I know that I qualify for a modification, however Elect Group failed to perform the necessary work on the file to achieve the modification. Now they are asserting that I was denied so that they only have to give a 50% refund.
Please help me by requiring Elect Group to provide an official denial letter from the lender and then providing with a refund of the fees. I will accept a 50% refund only if they can provide me with a denial letter. Otherwise, I desire a full refund.
Bobbie Jo Lee of Hopewell, VA April 12
I contacted my mortgage co. To possibly lower my payments. I was given a website (hopenow.com) to checkout for help. I did and The Elect Group (Mike Procito) contacted me to do a loan modification to include lower payments, fixed interest rate and stop foreclosure. I gave all required information and was told all he needed to get started was one months payment of $1,200 and not to make payments during negotiation to stop any foreclosure proceedings. I was also told it would only take 30-90 days and if not successful I would get a full refund.
In Dec. 2008 I received papers from my mortgage co. But the interest rate was not fixed and would raise every six (6) months in a few years. As told I sent those papers to Elect Group. Since then I have called them atleast twice a month for them to just say it is still being reviewed. I received letters from my mortgage co. And their attorney saying they are going to proceed on with the foreclosure and My sale date is May 7th. I called EMC mortgage immediatley to find out what was going on because my loan was being reviewed for modification with Elect Group. EMC said no contact with Elect Group had been made since December but they were willing to work with me but no gaurantee of a loan modifacation.
I then called Ellect Group to discuss my situation and because EMC will work with me they say they have done their job. Frankly they did not do anything for me and All I want is my money back
Before I was only two months behind making payments every two weeks. Now I'm behind six (6) months with no payments being made. I am out $1,200 and could possibly lose my house
Melissa of Sparks, NV April 9
We were taken advantag.in August of 08 we knew that we were behind on mortgage payments. We got online and looked up help, the first person to contact us was Elect Group. This guy was the most undertanding and compasionate person. He shared with me that he would be having a child soon, I shared with him that I had two yound ones under the age of three. I explained our situation and Hector R. Promised me a solution. He said that if we paid him one months mortgage that his company could negotiate a lower payment. I told him that we were three months behind and that if we could afford that then we would be paying it. He told me that this is was the legal fees cost and that it would save our home. We borrowed it from our family and payed $999.00 dollars. Half now and half later he said.
We submitted paperwork, and they took it from our bank. They were very anxious to speak with us until after we paid the money. I recieved an email requesting the remaining amount before they could sumbit anything. I told them that it just wasnt possible at this moment. Hector then told me he would forward this info to the financial department and that I was to not pay anything to my bank. Long story short but after numerous attempts to contact via email and phone, and after numerous failures to hear from them we requested a refund. This was based on our bank telling us that at no time they intended on working with them.
We have since recieved a letter from Elect group saying that they are going to fine us $500 dollars for failure to keep open lines of communication. This is the lowest a human can to do to another. My home was three months behind when we spoke and hired this company. Now we are in a short sale and have to be out of our house by next week. I have two small children and was married in my backyard.
These people are now not only threating us because of their failure, took advantage of our situation, and now my one year old, my three year old and my husband are moving in with my dad. Our home is lost and due to close next week. I am now pursuing legal counsel so that I can obtain my refund that I have requested from these vultures numerous times. I wish I would have known before I hired these people.
Our home is lost. Did not do as they promised to do, and havent returned money.
Deborah of Lake City, FL April 7
This is is follow up to my previous complaint. On the ElectGroup website in red letters is a list of states where they no longer do business. There is also a link to BBB for complaints & ratings for this company. I encourage anyone negatively affected by this predatory company to file a complaint through their website. Obviously they are involved in shady practices and are being run out of states. They need to be run out of business.
Ivan of Virginia Beach, VA March 22
Upon reading the many complaints listed ON your site (regarding ELECT GROUP LLC (LOAN MODIFIACTION COMPANY).. ALMOST IDENTICAL FEATURES of questionable ethics and honesty come into play. I paid this company well over $2000.00 for services they failed to provide (loan modifaction) 98% of the time they would not return my calls. I had to constantly inquire and probe them for status..in which they often had no answers.
Simply put my wife and I WERE THE SHAKERS AND MOVERS once we Suspected something was not right. We would often call and email them 2-4 times per month pleading for a status check. Often we would not recieve replys. The common response was, WE ARE SUBMITTING ANOTHER APPLICATION. However, Before I disclose further info I will be in the process of exploring the intent of filing a LAW SUIT. The list is much too lengthly to manifest on line. Please people, be careful. My experience of what appears to be SUBSTAND SERVICE is IMHO REAL and almost identical to the claims of this forum.in my humble opinion this company needs to exposed closer.
Lets put it this way... It has changed our lives. It has affected our LIVES. A law suit is pending!
Justin of Upper Marlboro, MD March 15
I was looking to get a loan modification. Came across their site and did online app. Received a call from Stacy a few days later. We went over my situation and she told me what paper work she needed. I gave her card information after she told me it would cost $1500. I called the office at the main number only to find out that she no longer worked there. I had already paid $500. I was transferred to a guy named Howard, who gave me a fax number to fax in more paper work.
Two days later, I receive a call from Stacy wanting to know if she could run the card for the $500 payment. I told her that I was told that she no longer worked for the company. She claims that she still does and that she was working from home. I became suspicious that they were just trying to get money. I never called Elect Group again. They have called me at least twice a week since mid February. I'm currently 6 months behind on my mortgage. I am waiting to hear from Washington Mutual on whether my loan will be modified.
Jeannette of Orlando, FL March 13
Everytime I call for an update they tell me they just had to submit a new package and ive been waiting for them to do this since Oct. 2008 I was 3 mos. Late when i hired them to do a loan modification and was turned down because they failed to submit updates. Since January that i was turned down nothing else has been recieved according to my loan co.
I am now 8mos behind and recieved foreclosure papers in feb. They are still telling me we just sent in new package on march 3 there is no way to know being that it takes 10-15 days for my mortgage to accept paperwork then i will wait for the amount of days to go by and when i call my mortgage co. They will say same thing we have nothing from them and when i call back elect group will tell me we have to resend the package for whatever reason they make up then.
I am so far behind and am in foreclosure.
B of Tucson, AZ March 11
Ms. W called me and explained to me how she could lower my interest rate by calling my mortage company to to a loan modification and that she would call the next day, but that I needed to have all my credit information when she called back. A couple of days pasted and shed called back an explained to me that it was going to cost $1,500 for them to do a re-modification loan and that I didn't need to make my mortage payment. They would explain to my mortage company that we were in the process of doing this and that the 1,500 would also cover any legal cost.
I asked what legal cost would there be and why would I not make my payment? Ms. W told me that it would take 30-90 days to process this and when I asked why it would take so long, she said that my mortage company had a lot of people who were trying to do this. The more I asked question the more she was fustrated and couldn't answer correctly. So she, then hang up and I haven't heard from them again.
Timothy of Athens, TN March 7
Hired them to modifiy our loan and our bank would not work with them and they will not refund our money. Everyone that has a problem with them should file a complaint with the BBB and Florida Department of Agriculture & Consumer Services.
Behind on our mortgage payments and out of 1,000.00 dollars.
Tony of Sugar Land, TX March 6
I needed a loan modification because my interest rate is 10.87 and also because my brother passed away after 6 long months of been in the hospital which put me in a very depressed state of mind. I could not work for 6 months due to sever depression. I still made my mortgage due to my saving. I was fallong behind and my monthly mortgage was so high due to the very high interest rate.
Elect group approached me and told me that in 30 to 60 days they can modify my loan to a much better interest rate and lower my payments. The also advise me not to pay my mortgage during negotiation. They indicated that their fee is one month worth of my mortgage. Which is 1600 dollars. I paid them and i was promised a much better rate and better terms for my mortgage. I singed with them on Agust 15th of 2008. After 2 months since i did not see any result i called them several times a day and 9 out of 10 times i could not get throug. They promised they are working on it and not to worry about it.
Finally on Feb 12 i got a default letter from mortgage company lawyers that i am in active foreclosure and i need to pay $10.000 of past mortgage. I called the elect group and for days i could not get in touch with them. On January 27 my loan modification was denied due to the wrong financial statement that they send in my behalf. For instance they indicated that i have 200.00 a month pet expenses. I do not own a pet.
It is now march and i am in foreclosure. I have been talking to my mortgage company myself and i am in their mercy. I might loose my home because of Elect group. I am trying to get my money back from them but it is almost impossible to get through with them. They put you in hold as long as an hour or more and they do not come back to talk to you. They are not able to negotiate due to lack of communiction with my mortgage company. They do not know what they are doing. They are nothing but scham.
I need to come up with $10.000 or i will loose my house. For the last 6 months my family and i have gone thruoug horrible mental pressure and cofusion. I am in the verge of loosing my house after 15 years. Thanks to Elect group and my own stupidity for not been a smart consumer
Charles T. C of Maryville, TN March 3
I contacted my mortgage company Nov. Then again Dec. I then was able to request help with modifying my mortgage. My mortgage is Nationstar. I called again sometime late Dec then again early Jan. Still in the mitigation dept. I started worrying that nothing would happen in time to get my mortgage modified through Nationstar, my mortgage company, so I started looking online. Then I got a call from B. Garzia. He left a message and I didnt return his call. I got another message a few days later, and decided atleast to hear what he had to say. We spoke a few minutes and he turned me over to a Senior member, A. Ordell.
A. GUARANTEED me over the phone that they could cut my interest rate by half, and my house payment would be cut by atleast half. He also told me I would have 90 days from the day I signed the paperwork before I had to make a payment. This would help me with all my other bills that were way behind. He asked me what my house was worth, market value. I told him $255,000.00 the year prior. He said that it was only worth $175,000.00 due to the decline in the market and house values. He said the mortgage company would adjust my overall sum owed on the house due to the new government bailout. He said it would cost 1 months mortgage, which for me was $2349.00. He said, OK, I can do it for $2190.00. I didnt have the full $2190.00, so he said I could pay half now and half later. I told him I needed to think about it and discuss it with my wife.
The next day I got a call on my cell phone from A. Enquiring about it. Then later that day another call on my cell phone. I called him the day after that to go over all the info he gave me and he stuck to all his guarantees. He asked me if I was ready and I said yes. He asked if I had filled out the paper work, and I had. I just needed to scan them and e-mail them to him. I made sure I could pay half of the amount ($1100) and the othe half later and he said that was fine. I paid $1100.00, and he wanted me to give him the debit card numbers over the phone while we were on the phone. He said a lot of times the numbers would go through good. I should have known then he was a THIEF! The payment auth. Form is a handwritten form. I didnt realize it until later though, when I was going over the paperwork.
A. Ran my debit card immediatley. The $1100.00 came out that day. I got transferred to a lady named Courtney to let me know the paperwork I would be needing to submit to them to get my case rolling. I wrote it down, and it took me about 3 days to get it overighted, which also cost me about $25.00. I spoke to B. On Friday after many calls to A. With no returns, due to A. Being out of work sick. I told B. I had paid A. The 1st half and how long I had to pay the second half. B. Said typically it was 14 days, but we could work on it. That was a Friday. The next day My family and I were out, and A. Called my house and left a brief message to call him. He didnt try my cell phone number (which I know he had, because he burned up the line on my cell phone until I made the 1st payment) then A. Tried to run my debit card for $1100.00 (which should if it was for the 2nd payment should have been $1090) my account didnt have close to that, so then he ran it for $999.00, and it went through. This took my account into the negative.
When it is all said and done, they put my account $547.02 in the negative. I had no money coming in for a week, due to me being out of work on short term disability to have surgery. I tried getting ahold of A., and he finally called me back that Tue. He said he would take care of it. He didnt. I called again the next day, and he said it was a mistake. I asked who his boss was and he didnt want to tell me. I asked him again, and he finally told me Tasevski, but he said he didnt know his first name. I asked him to let me speak to him and he said he cant even speak to him. He said he would handle it and call me back. I said fine. I hung up and called the operator and asked for Mr. Tasevski, and she wanted to know who was calling. Then got back on the phone and asked what it was concerning.
She put me on hold for about 2-3 minutes and J. Lowe got on the phone. I asked if he was A. Ordell's supervisor, he said yes. I explained the financial situation A. Had put me in. He apologized, and said he would fix it. I told J. I needed the help, and I wasnt trying to hold this against them, I just needed it fixed. He said it woul take a little while, and asked me to call him the next day. I did about 9:00am. Then for the next hour. J. Answered the phone and explained he had been working on my problem. I called my bank to see if there was any recourse, and they said I would put in a complaint, and the bank would investigate it. I wanted to give Elect Group the benefit of the doubt. The bank lady operator, gave me the times and the amounts that A. Had tried to deduct from my checking account. J. Called me back that afternoon and let me know it had been taken care of. He gave me a confirmation number, and told me it would probably take between 5-10 days to get it back into my account, the same thing the bank told me. I thanked him, and told him I wasnt holding a grudge, I needed mortgage help, and hoped they would continue helping me.
About 2 weeks later, I get a overnight package with a loan modification from T. Brown, the initial mitigation processor I had spoken with back in Dec. I recieved the package on 1MAR and the payment was due on 1 MAR. I called J. And he said to sign it and send it back. I asked about the 90 days I had been guaranteed to get before my first payment. He said it wasnt there fault. He advised me to take what they were offering because if they retried it probably wouldnt be any better. I told him I needed to discuss with my wife.
I called my mortgage company and they said Elect Group had made no contact with them. THe operator pulled my account and went line by line about all the happenings with my account. Elect Group hadnt contacted them. I asked him to note this call very descriptivley and weather or not Elect Group had contacted or not. He obliged. I now have made probably 20 more calls back to J. Again today and he will not return my calls. I was able to trick him into taking one earlier by calling the operator and transfering me to his ext. He answered before he realized it was me. Now again he wont return any calls.
I am sitting here out almost $1700 dollars, my mortgage not paid since Oct 08,6 months, I have a modification that was due to be signed already, and a first payment made, that I cannot make, and about a month before I am out. I feel like I am due a full refund, since Elect Group didnt do anything to get the modification. Something needs to be done against these predatory businesses!
Sandy of Athens, TN March 2
Still have not got a refund calls are never returned. Call my bank and pretended to be me. All we want is our money back. So we can make our house payments.
Behind 4 months on our house payments.
The of Mount Vernon, WA February 27
just kept receiving harassing phone calls tell me that they will modify my loan. I have no problem with my loan. And they won't quit calling. Their rep. Thinks its funny and keeps calling several times a day. This is harassment. Why can't this copany be sued?
Deborah of Lake City, FL February 18
I was pursued by Elect Group in August. I was one month behind in my ARM mortgage payments. I was told I could get a modification on my loan, money back guaranteed. Elect Group would negotiate a modification plan on my behalf. The modification would result in one or more actions, lower payments, fixed rate, lower rate, reduced debt and loan status brought current. I completed all the paperwork. Submitted all the forms. Gave them $1100. I asked if they had dealt with my current mortgage holder in the past, they said they had, as recent as the day before.
I asked what should I do next? I was told do nothing. I asked should I make my payments? I was told no. I asked how long does this take? I was told 30-60 days. Well... 5 months later I received a forebearance repayment plan from my lender. I have a court date with my lender. I have attorney and legal fees added to my mortgage on behalf of my lender.
I called Elect Group. They told me to fax them my court papers & I did... Three times. Elect Group tells me I have a forebearance, no kidding. I asked why? Why do I not have a modification loan? Why does Elect Group not know what is going on? They said because the lenders don't normally notify us of what is transpiring. Because lenders are too busy. Well how can you negotiate on my behalf if there is no communication after the paperwork is submitted? I asked Elect Group what have you done for me? Response-what do you mean? Why did I not get a modification loan? They said because you are behind in your payments.
I thought that was the reason for the modification and one of the conditions. Elect Group's response-your lender does not do modifications.
But I was guaranteed when I applied. I asked if you had had a successful loan modification with my lender in the past. Wesly told me yes. Cortney from Elect Group said I guess you were lied to.
I have a forebearance. The payments are more than the original payments. At the end of this stipulation the lender will decide whether to foreclose. I am out $1100. My credit is more damaged. I have worried my self sick for the last 6 months. I will continue to be stressed out for the next 6 months because I have no promise I will not be foreclosed on. I may be loosing $6300 if the lender decides to foreclose.
Stevekiv
Myrtle Beach, South Carolina
U.S.A.
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