I was researching companies online that help you with loan modifications, to help save my house. I sent an inquiry to Consumers Advocates Group. I was contacted by phone, from an employee named Vincent. I explained to him what services I needed, very specifically, and he assured me that his company was going to be able to help. After the $2800 fee was paid, CAG started to prepare the loan modification process.
It was started in September. I had a first and second mortgage on my home. Vincent assured me he could get the 2 loans combined, get the APR dropped to a 3% range, and get my monthly payments down to approx. $1000. That would save me approx. $700 a month. Thats exactly what I told him on the phone the very first time we talked. I was very specific on what I needed, which was to be able to combine two payments into one, and the interest rate lowered. I told him if he could not accomplish these things, that I would not be using his services. He assured me they could.
The process started out O.K. But soon became questionable to me once Vincent starting to have conversations with me about his fellow employees, and assuring me of things he had no business doing so. He spoke negatively about an employee named Jenna. He also assured me that my mortgage company did in fact, buy out my second. The loans would be combined, and all was well. He reassured me of this not once, but twice.
They state on their website they give an update every two weeks. I was not getting any updates, which led to a phone call. I wasnt happy speaking to Vincent anymore, so after a complaint, I then started to talk to an employee named Brian. I then discovered everything Vincent had assured me of was a complete lie. Brian explained to me that my mortgage company, in fact, did not buy out the second, and that the two loans would never be able to be combined. He explained to me that they had to complete the loan modification through my first mortgage. After that was complete, they would start the loan modification process with my second. This would be after a six-month trial period with making payments every month. Which I was able to accomplish.
I tried to contact CAG after the first of September. I sent several e-mails, and left several voice mail messages. I never got one response. I called during business hours, toward the end of September, and finally got on the phone with Jenna. She explained to me that the modification wasnt even in the processing dept. Anymore. I asked her what I was supposed to do about the modification with my second. She had no answers for me. I asked her about the six-month trial period. She confirmed it had been six months, and to call my first mortgage company, to ask them what happens after the six-month trial period. She told me after I was able to contact them, and discuss what happens next, to call her back.
I contacted them, and they explained to me they had no knowledge of any six-month trial period. As far as they were concerned, the loan modification was complete in April and that no other loan modifications could be done until after a year of the first modification, as long as you had new or different hardships. I was lead to believe that after the six-month trial period, they would modify the loan APR down to the 3% range, and somehow get my payments lowered. This obviously wasnt the case.
I now must call Jenna back from CAG, and tell her what my mortgage company told me.
I have been lied to. I have been ignored. I have been robbed. I spent $2800 for CAG to save me $23.19 a month. I have all the paperwork to back it up. I will update this as the process continues.
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