Many residents in Sacramento and Elk Grove have tried in recent months to modify their mortgage with their lender.
When they are not able to get their mortgage modification approved themselves, Sacramento residents often turn to a "professional" who specializes in loan modifications.
Well... As we all know, during our historic real estate market in Sacramento, a lot of shady characters came out of the woodwork and took advantage of many helpless homeowners.
In fact, just last month we had someone contact us to get our advice. These poor people gave a local Mortgage Modification Company $5000 to get their loan modified. Unfortunately, the Consumer spoke very little English and did not do their due dilligence and they got ripped off!
Would you believe that the Mortgage Modifcation Company came back and are trying to get additional funds from the Consumer? The Sacramento Mortgage Modification Company is asking the Consumer to pay them rent now.... FOR THE HOUSE THEY STILL OWN! I just couldn't believe it!
I guess the Sacramento Mortgage Modification Company thought since the consumer took the bait before... They would try to milk more money out of them! It is just horrible that there are people like this in our world. I feel it is everyone's duty to report these issues so we can help prevent it from happening to someone else.
HUD announced Friday that they, along with the Loan Modification Scam Prevention Network, have created a new website for consumers to report these types of incidents.
If you know someone who is a victim of a loan modification scam... make sure to visit www.preventloanscams.org and report the incident!
I also wanted to remind you that it is against the law for ANY Mortgage Modification Company (even if they are lawyers) to collect ANYfunds upfront BEFORE they negotiate your loan modification.
Don't rely on their advice... PROTECT YOURSELF!
I'm here to help! Call me!
My job is to get you the best deal I can and help you navigate through our complex Sacramento Real Estate Market. My team works directly with many banks to sell their foreclosed homes... so I HAVE A LIST OF HOMES NOT YET ON THE MARKET! Interested in Sacramento HUD homes? Check out my other blog I write dedicated to Sacramento HUD Homes for sale!
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