My husband does sales and is commission only and we have hit a rough spot. We decided to see about a loan mod. Prior to signing up with this company I checked everywhere making sure they were not a scam. I found nothing bad on them and they promised us the world. We have two mortgages and have NEVER missed a payment in our lives. They stated that our 1st mtg company was going to drop our principal balance by $70k and our interest rate from 6.625 down to 4.125. And our 2nd mtg company would drop our principal balance by $18k and rate 4.250 to 4.875.
Their original fees were to be $5495. Oo for service costs which included legal and admin fees. They claimed that they got us a "federal grant" through www.grant. Gov for $2600.00 under some Home Saver program (I would just recently find out after contacting that website and speaking with them that that was a lie, no grant was given on our behalf and no program like that exists). So with the so called grant on our behalf we needed to pay $2895.00. Keep in mind we thought they were legit at this point.
They explained to us that they work with the wholesale divisions of our lenders and that they get answers right away. We were approved and then they told us to not make our payments as it really would do no good towards the new loan terms we would be getting. We were told that our mortgage company cannot report any negative things to credit agency, cannot foreclose on us while doing the loan mod, to ignore the collection calls, to update our phone numbers to reflect their phone number only, etc.
We would get a phone call EVERY Tuesday from a Donald Young at National Freedom Group starting in January claiming everything was going along great he has been speaking with the asset manager in the wholesale division and we should be getting our paperwork around March or so. As we got closer to March that is when I started thinking something was not right. Our lenders had no knowledge of anything and I started really questioning what the you know what was going on. March 6th was the last time I heard from Donald as he is not calling me back or returning emails. I am now only getting a customer service girl by the name of Rachel who of course has no answers and is basically sounding like Donald.
Yesterday I called my mortgage company Green Tree to try and pay January and February payment. I was told that they need March as well and that we are in foreclosure status. They would not take 2 payments. National Freedom Group has done absolutely nothing for us. We are in verification process for loan mod with Green Tree but not on any terms we were told by them. Our auction date I am told will be in May. I am contact the attorney generals office in CA this morning, BBB, all of their news stations, FTC and anyone else I can think of.
I also learned being up all night last night freaking out that the reason I could not find anything bad on them is because they previously operated under a different name before called Home Care Alliance were they screwed tons of people using the same contract they used with me and told the same things they did to us.
I do not understand how people sleep at night knowing they did this and had a hand in taking peoples homes from them and damaging their credit. I know I will probably not get my money back but I am going to fight like hell and by placing this complaint it will allow there to be something out there so when someone looks them up there will now be a complaint showing up. If I can save one person from being sucked in I have done my service.
Run fast and far away!!!
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