|Federal Trustee Services AKA Mortgage Claim Center Outreach AKA Mortgageclaimcenter.com LLC |
|Wrongfully claims they can save your hoe from foreclosure |
|26th of May, 2011 by Sapphragette |
|For an exhaustive history and examples of this company's history and activities please see: |
But please be aware that:
The Federal Trade Commission (FTC), is the largest consumer protection agency in the US and has ths to say about "Forensic Loan" Programs:
" In exchange for an upfront fee of several hundred dollars, so-called forensic loan auditors... backed by forensic attorneys offer to review your mortgage loan documents to determine whether your lender complied with state and federal mortgage lending laws.
The auditors say you can use the audit report to avoid foreclosure, accelerate the loan modification process, reduce your loan principal, or even cancel your loan.
Nothing could be further from the truth. According to the FTC and its law enforcement partners:
There is no evidence that forensic loan audits will help you get a loan modification or any
other foreclosure relief, even if theyre conducted by a licensed, legitimate and trained auditor, mortgage professional or lawyer.
Some federal laws allow you to sue your lender based on errors in your loan documents. But even if you sue and win, your lender is not required to modify your loan simply to make your payments more affordable.
If you cancel your loan, you will have to return the borrowed money, which may result in you losing your home..."
You can read the whole document here on the official FTC website: http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt177.shtm
The California Department of Real Estate recently issued similar warnings:
and recently took lawyers to court seeking million of dollars in damages for "Forensic loan audits"
Attorney's General across the country have also issued consumer warnings:
In Florida (particularly interesting since this one advises folks to avoid "businesses that use names or symbols which mimic federal and state programs or falsely suggest they offer legal services or are affiliated with an attorney or law firm.":
The State of New York is actively shutting down companies like Federal Trustees and Mortgage Claim Center Outreach
And If all that doesn't sway you - you may want to read this - the new guidelines put out by the FTC for companies like Mortgage Claim Center Outreach and Mortgage Claim Center.com LLC as of November 2010:
"The most significant consumer protection under the FTCs new rule is the advance fee ban. Under this provision, mortgage relief companies may not collect any fees until they have provided consumers with a written offer from their lender or servicer that the consumer decides is acceptable, and a written document from the lender or servicer describing the key changes to the mortgage that would result if the consumer accepts the offer...."
Please do NOT do business with these companies or ANY company claiming they can save your home form foreclosure.
The only organizations who can offer you any real assistance are Foreclosure experts allied with HUD who can help you find real help - not just rip you off.
Find your local office here:
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