It’s war on real estate fraud
The daily news is reporting that the Board Of Supervisors has created a “Real Estate Fraud and Predatory Lending Task Force” which should help homeowners mired in the financial crisis.
The article goes on to state what we have been for months, people are being victimized by loan modification companies asking for monies up front.
According to the DRE a few months back only 10 companies in California were in contract to do loan modifications - but there were 40 loan modification companies in orange county, California.
If you are looking to do a Loan Modification, I strongly suggest you consider doing it yourself. Use a kit like from SelfLoanMods.com to help you throughout the process.
Pastor Herrera Jr., director of the county Consumer Affairs Department, said his office is receiving a flood of telephone calls from people victimized by the deceptive practices of home loan modification facilitators and foreclosure consultants.
“The most common thing we’re seeing are people who tell the homeowners if they give them some upfront money that they can guarantee they will get them a loan modification with a fixed interest rate and there is no problem because of their past credit history,” Herrera said.
