I have been struggling with a high mortgage payment, and sinking equity in my home now for 3 years. I have never been late on a payment. However, with retirement approaching and money getting tighter every month&I truly was on the verge of desperation.
As luck would have it, out of the blue, I was called by a representative of AVID Law Firm. After asking me several pointed questions, he felt certain his company could help me arrange a loan modification. However, he said that the actual attorney, Hiro Watari, would have to make the final decision. He connected me with Hiro, he asked a few questions, told me that they deal with my mortgage company frequently and that they have a an excellent rapport with AHMSI. He went on to say that he felt sure his firm could help me negotiate a loan modification. I thought FINALLY, someone can help me. Hiro was careful to say that there were no guarantees, but he was very optimistic.
He returned me to the first gentlemen to sign the agreement. I was reluctant, since it would cost me $4000.00 for this service. I thought about it a long time, but finally decided to take the money out of my retirement to pay for the service. He was so nice, and reassuring, and convincing. He even told me that they should be able to get my balance on my mortgage reduced. It would be well worth my while if I could get a modification.
I sent them all the paperwork they requested, and updated all the information when requested. Now 6 months later I am not one inch closer to a modification than I was in June. I have to accept the fact that I was scammed. I am a well educated, professional, and it embarrasses me to admit that I was taken in by these shisters. But if I can deter anyone else from making the same mistake, at least it will make me feel a little better.
California SB 94 prohibits anyone from charging money up front for a loan modification. I found this out just a month ago. If someone is asking money up front. Run!!
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