principal reduction programs
Submitted by Wayne Gulley
from CA
- 11/27/2009 - 8:26pm
Anyone heard of a few companies that are supposedly doing bulk deals with banks for principal reductions? The basic model is they are funded by hedge funds, and solicit underwater homeowners to become a client. A Client pays a fee so that the hedge fund company can bundle their mortgage (either performing or non performing) and get a deal for all loans at a significant discount. The hedge fund company then offers to sell the loan back to the homeowner at 90% of current market value and everything records as a refinance. Anyone had any experience with one of these companies?
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There are folks that are buying notes in bulk, at say 50 cents on the dollar. They then try to refi the homeowner at say 60 to 70 cents and make a quick profit.
They do this by buying the notes first, NOT by contacting the homeowner first. The later makes no sense as it would be impossible to predetermine which you'd be able to buy in bulk.
If any company claims to be doing the later, I'd think they are either ridiculously stupid, or just another scam.
looking for principal reduction company to work with
If anyone has proof of performance of a principal reduction company, please let us know we would be glad to do bussiness with them
I have proof of performance. Contact me by email or call 951.200.4477.
please give your email!
I'm a real estate broker from Las Vegas, NV and I just lost my personal residence in Vegas and my boyfriend who owns a home in CA just tried with FLS to get a principal reduction but FLS pulled out of CA so we are looking for a company who does business in CA for a principal reduction. He has perfect credit but over extended with debt and his house is upside down about $200,000.
My company dose it please send your info to my email account and i will have a rep contact you.
I am underwater and need some help.
Robert, be careful. I too am underwater and have tried for over 18 months to find help. Lot's of 'offers' to help. Reductions, mods, whatevers. All make it sound easy and they have helped huge numbers of home owners. Read the fine print. I have been following this matter for almost 2 yrs and NOBODY can do or does what they promise. But if you find someone or some company your want to try, I understand where your coming from. But NEVER, NEVER PAY ANYONE ANY MONEY IN ADVANCE!!!
And be very careful what personal information you share (bank accounts, SSN, where you work, etc.) ID theives are now using this ploy / scam to steal identities.
The links that some put on this web site are 99% useless. They do nothing but promise and deliver nothing.
I've said it before and still scream it: "There is NO principal reduction program ANYWHERE in the world! Think about it... if there was wouldn't it be on the news, newspapers, ads on TV?
Beware. Be careful.
Me? I give up. They win. So screw the banks, mortgage companies, whoever. All I asked for was a interest reduction from 6.875%. But because I make my payments on time they decided that I wasn't worthy of any help.
So they can kiss my A**.
www.LowerMyPrincipal.US was able to help me for free. IK was uncerwater and now I have equity in my house, and did not pay a dime
Can you provide any proof of how this worked for you? I'm very leary of these companies. Too many scams out there.
Joseph,
Aren't you the owner/operator of the company???
Hi Joseph,
In perusing the site www.foreclosureradar.com, I came across a post that you have in regards to your experience with lowermyprincipal dot us. I've attempted multiple times to get in contact with someone, but have yet to receive a return call/email. Do you have a contact person, and/or number for these folks where I could connect with someone? Thank you for your time, and assistance!
Roy I use to have over 50 files with the
Guardian Group. I am looking for a company that can do the principal Reduction. If you are that company I am interested in talking to you and submitting files to you.
cell 248-941-6900 please call me or email .
Roy I use to have over 50 files with the
Guardian Group. I am looking for a company that can do the principal Reduction. If you are that company I am interested in talking to you and submitting files to you.
cell 248-941-6900 please call me or email .
Roy I use to have over 50 files with the
Guardian Group. I am looking for a company that can do the principal Reduction. If you are that company I am interested in talking to you and submitting files to you.
cell 248-941-6900 please call me or email .
Roy I use to have over 50 files with the
Guardian Group. I am looking for a company that can do the principal Reduction. If you are that company I am interested in talking to you and submitting files to you.
cell 248-941-6900 please call me or email .
Please contact me about principle reduction
619-804-5963
principal reduction - looking for a successful company with proof.
I found US Financial Advantage out of CA who does principal reduction programs. I am just in the early stages so don't know final results but keeping fingers crossed.
I would love to see your proof of a loan reduction.
I would like proof
Cate: Please read all the comments posted here and on complaintsboard.com. There is no successful company or program or government program that will reduce principal. Do not waste your money! But if you insist on throwing money away... contact me, send me your money, and I will do the same as anyone else claims they do... NOTHING!
Mr. Babbitt
I'm running a property consulting company here in Las Vegas and have already engaged with one company purporting to do successful Principal Balance Reductions. None have yet funded so I am expanding my search from a purely self-preservationist standpoint. Please feel free to call me on 702.560.7283 during business hours at your convenience so we may discuss your proof further.
Thanks,
Clay Giffin
PS have a look at my website - it will give you an idea of who we are: www.cbcpropertysolutions.com
Do you have the name & contact of the company and what they did for you, how long it took?
Do you have the name & contact of the company and what they did for you, how long it took?
Do you have the name & contact of the company and what they did for you, how long it took?
Please send me proof of the hedgefund performing.
thank you
please send proof from multiple clients or disclosure of the hedgefund.
please send proof from multiple clients or disclosure of the hedgefund.
I am looking into principle reduction on rental properties, alot of what I hear sounds too good to be true so therefore I am a bit skeptical, please send em any details that you have - thanks
I have proof that our company is successful. Please contact me at 877-376-9084. Thank you.
The details of buying "bulk bank notes" can be done.
But my concern is that few laws and regulators cover this type of business. The concept sounds all most
to good to be true?
I think this make the most sense. Loan Mods are ridiculous because nobody really wins. The banks or investors don't and for sure the homeowner doesn't. There is no real desire on the part of the bank or investor to take something that isn't working and extend it. From what I'm seeing approximatiely 80% of homeowners default in the first year. If anything make sense is for banks and lenders to get rid of non performing assets for cash and get back to what they are suppose to do....lend money.
My friend just introduced to someone who is working with such a company. Same concept: a hedge fund backed by $50 bn will be buying notes in bulk from lenders and selling it to you for 90-10% of the market value of your home. I trust my friend but this all seems too good to be true. Essentially you are reducing your principal by 50% with no damage to your credit and keeping your home (versus a short sale which would do neither). I am trying to do research on this type of transaction and hope to get some quality feedback from anyone who has had experience with this. I am on the verge of short selling my 2 investment properties. Thanks.
Don't get involved with the guardian group fund.....
I can help leave info at my email account a rep will contact you.
If you decide to short sale your properties please give me a call and we can discuss your options before having to short sale the homes. Realtor 25 years in Temecula CA. Go to www.StopForeclosure.LA read my blog about your recourse. This may help you decide a course of action.
If you decide to short sale your properties please give me a call and we can discuss your options before having to short sale the homes. Realtor 25 years in Temecula CA. Go to www.StopForeclosure.LA read my blog about your recourse. This may help you decide a course of action.
Although we have heard of some people negotiating principle reductions they are few and far between. In most cases we have only seen a reduction of the amount added to the principle balance when the minimum amount was paid on a negatively amortized loan. The rules are changing every day so it certainly doesn't hurt to try. At the end of the day you need to make sure you haven't traded a toxic loan for a toxic modification.
try Family Group Finanacial USA Inc
or The Guardian Group Fund
Yes, it looks too good to be true and yet it makes sense what they are doing. I am investigating.
They say they are buying pools of underwater assets and grouping individual ones in with them; it only works if the homeowner can qualify for the new loan under the more stringent rules that are now in place in the banks.
I am not sure this is for real, if anyone has done this I would love to hear about it.
let me know if u find other firms doing this prin.reduction program thanks!
I am a long time mtg broker who has been refering clients. Good results. The Company is definitely for real. With all of this what has amazed me is that the banks don't play fair. That could turn out to be he biggest scandalm of the past few years. I will be happy to share information.
which Company?
I work for a company that doesn't CHARGE NO UPFRONT FEES! FOR THEIR PRINCIPLE PROGRAM
BUT THEY DO PRE-QUALIFY ALL HOMEOWNERS
IF YOU WANT MORE INFO GO TO WWW.PSLLC1.COM REVIEW THE SIGHT AND FILL OUT THE CONTACT FORM ON THE SITE AND I WILL SEND YOU ALL THE DETAILS. THANKS
What is the name of the company and do they charge up front fees.
I am very interested in this. Please contact me.
I am very interested in this. Please contact me.
Hi there! I am also a long time Mortgage Broker also and am doing Principle Reduction in Michigan, It may be same Co, Guardian Group? We are having problems just started, are yours going Ok? Need any info I can get.....Thanks much!!!!!
Feel free to e-mail and i can give you our run-down of the issues we have had for approx 8 months with this company, not good
I would be interested in any and all info you could share.
was wondering if you could give me the name of the co. that is doing it. I have a friend that needs help with his loan.
Thanks,
Al
Hi, which company has had success doing principle reductions? I work for one IFI since Jan but have not seen any closed files yet...it is now August.
Don't getg in ved with the guardian group fund its ugly
Well, this is for all that's out there. Let my experience be a lesson for someone else. I tried to Principal Reduction Programs that took my money and never performed; the Guardian Group in AZ and Roseville Federal Mortgage in CA. Yes I paid the fee, qualified and both was shut down. Guardian Group by attorney general in AZ and Roseville didn't have the license to do the bulk funds. If there are companies that does this FOR REAL, please send me your name and references of successful customers.
I have a friend that has signed up for a supposed new program that was instituted and or sanctioned by the Federal Government in which the note for a mortgage loan that is underwater is negotiated down to market value. The note then is transferred to one of the major TARP lenders (B of A, Chase, Wells Fargo, CIti) in which they assume the note at par rates. The process is said to last 6 months. During this period you sign an agreement with Santa Barbara MGT as well as a quit claim deed transferring and or vesting the property into a trust that seemingly is irrevocable. They claim that they do not record this deed. There is an upfront fee for this service and it is $2000.00 plus a fee equal to one month of your mortgage payment. There is also a monthly fee which is equal to 50% of the original mortagage payment. They call this a trial period and gaurantee that by the seventh month your note shall be transferred to one of the aforementioned institutions with an interest rate of 3% to 5% or whatever par is. They claim that the defficiency balance left over plus any foreclosures costs and so forth are reimbursed or credited back to the lender who participates in the program. They also claim that the program was set in place january 01, 2010 and shall expire on December 31, 2010. Now folks you have to know that I advised my friend against such a program because it simply does not exist. However, out of desparation my friend went through with it anyway. My question is, has anybody ever heard of such a program. I have researched all I could and have not had any luck finding any information. The name of the company that is involved in this program is Coast to Coast Financial out of Orange Ca. My friend has just started the program and if I can find a way to keep my friend from being defrauded, I will.
Your advice to your friend was sound.
That is clearly a scam. Anything with that upfront fee is a red flag. There are good programs and good people doing them but unfortunately people will always be willing to be scammed. Ask about a persons reputation, experience, licenses and references before doing any business with them please.
That is clearly a scam. Anything with that upfront fee is a red flag. There are good programs and good people doing them but unfortunately people will always be willing to be scammed. Ask about a persons reputation, experience, licenses and references before doing any business with them please.
That is clearly a scam. Anything with that upfront fee is a red flag. There are good programs and good people doing them but unfortunately people will always be willing to be scammed. Ask about a persons reputation, experience, licenses and references before doing any business with them please.
For me this is a scam, i know this company very well and the people who runs it, they have many complains and the DRE is on their tails!!! So be very careful
I am one of the few in the country that got a modification, (statistically speaking,evidently). And I would be happy with it (They cut my payments nearly in half) except that I did not get any reduction in principle. to make a long story brief, I have been investigating and have been approached by a couple of companies that claim they can get it done. I heard a version similar to what Roger relays: I got a couple extra wrinkles but by and large, same - same. However, when I pointed out the "Too good to be true"-characteristics of the program, I was directed to go to www.financialstability.gov/roadtostability/publicprivatefund.html to see for myself that it's a real government program, etc, etc, so on and so forth. The first entity to send me a marketing letter was a group of lawyers who were charging an upfront fee of $6000 - $4150 of which was returned if they weren't successful. I told them that if they were doing this somebody else must be who weren't charging so much. I found another company who charges $3000 - after it's completed. Obviously a much better deal and I am communicating with them now, so I'll see. The website looks authentic to me - it's been explained to me that the Homes Affordable Mortgage Program (Hamp) was such a failure that Obama's administration put this in place as an alternative. I'd like my principle to reflect market value and am still checking it out. I would welcome any comments or info relevant to same.
what is the name and contact number for the company that is not charging at front fee?
At this point, I can't say that I have good contact info for the company. I met with them almost 2 wks ago and have had almost no return correspondence. They've not been been timely at this stage as far as keeping me informed. I am due to meet with my contact Friday - if something substantive results, I will relay this information.
Did this company ever contact you and provide relief? What was tha outcome? the Hamp was a failure, i was in it for 8months with BofA and had no success.
I researched it fairly extensively. I was first approached by a company called Sterling Mutual doing business in Las vegas NV. I met with them several times and was always "stuck" (for want of a better term) at what they said their fees were going to be - $6000 - with only a partial refund of your money (about 30%) if they weren't successful. So I kept looking and indeed uncovered several different variations - in the interest of brevity I won't detail here - but none with a track record they'd stand behind. Eventually, I talked with another mortgage broker on the phone who told me that (here I paraphrase) the word on the street was that some of the "Big Boys" were preparing to present to the public their versions of this very thing. By Big Boys, he said I should take to mean GMAC, Wells Fargo - maybe others. I hung up with him and contacted one of the above and was, indeed, informed that they were finalizing what would be presented and "Underwater" mortgage payers would hear something very soon.......
If you are willing, I would love to know what the name of the company is which charges only after completion of the principal reduction program...I have been looking and looking!
the concept of buying notes from the bank is sound. the question comes who can get the job done. I'm checking a few companies that are supposedly doing the program, so far I haven't seen any proof. I'll keep you guys posted.
Client just got a loan mod from Indymac - One West Bank as follows: 2% years 1-5, 3% year 6, 4% year 7, 5% fixed years 8-25. Loan is amortized over 39 1/2 years with a balloon at the end of 25 years. No principal reduction. Taxes and Insurance are impounded and added to the payment. Plus client gets funds monthly per HAFA. He paid no one to get the mod. He was able to do it himself with very little assistance. It took 4 months from start to finish. Seeing more loan mods being done lately. It will be interesting to see what happens to the resale market and the new home market if people can stay in their underwater homes and their mortgage is less than an apartment rental from the loan mod environment we are entering. .
"Atlantic Mutual" is also claiming to be bundling notes. They are asking a $1000 fee up front. I fell it's a scam.
I think that this program is a great "IDEA" but i have been watching it for the past 9 months and no one has performed. From what I hear Guardian Group Fund is refunding people thier money. My neighbor had to ask for a refund request form and also send in a letter describing why he wanted the refund. Nonetheless he got refunded, but this just tells me that they are not able to perform as promised. I talked with their owner Brian Prehoda. He said himself and his business partner are an open book and have nothing to hide. He told me that anyone that wants to contact him should feel free. His phone # is 623-910-5551 and Luis said the same thing, his phone # is 602-705-4198 their office phone # is 602-507-9303 or 602-694-6300. All in all I think intentions are good but there is no proof or track record of any progress.
Good Luck getting thru to either Bryan or Luis. We have files there presently and get no response
Well if anyone has success please post it. I think there are many interested folks out here that can benefit from this. From what I read i see how it is possible the challenge is the banks are going to be very slow in coordinating anything with any one institution.
It is a slow process doing it without the assistance of a lawyer like my company does. And the amount that we get reduced is not taxable because it is a result of a lawsuit.
Give me a call for a FREE consult.
Loretta Gage
http://www.fixmymortgage.biz
I also would be interested in any companies that anyone has to offer that can actually complete this program think it is a great idea but not seeing results from the guardian group nor can you actually get thru to either brian or luis. have had files there for 8 months. The put-offs we get are crazy. Our customers suffer. And theyare not refunding any funds to anyone. Wish they were I have 11 clients would like to see get their money back.
I would like to solicit a chalange to anyone or Group thats willing to take this opportunity. Can we find a group that can accomplish Note purchases followed by restructured terms for the home owner after successfull balance reduction. I would like to affiliate myself and provide said service to the pipeline of clients that I can benifit. Likewise, a fee at close or held in escrow during the Note purchase would be best to protect the borrower. If anyone can turn me to such a group that has the right intensions in place, i want to know about them. My email is info@360debtsolutions.com
Thanks
Hi Jason, I hope you have a better response than I did, when I asked just about the same question to this
Forum on about 2/12/10
I have been contacting every single published enitity that claims to perform Note Purchase and Restructuering/ or FHA Loan - Short Refi's. I feel closer to discovering the truth. Hedge funds seem to be the end servicer and finding them is the trick. If anyone has information to help my safari please email me with reference to this string info@360debtsolutions.com
thanks,
Has anyone had any success with Sterling Mutual in Las Vegas, NV? It sounds like another scam to me, but I thought I would ask.
Has anyone heard of or has done business with Atlantic Mutual? This too is a company who claims to buy bulk mortgages and reduces the principle to your home. They charge a $995 fee.
Beware. Another scam... period. NOBODY is doing this...again PERIOD. Anybody who wants an up-front fee will never do as promised. That's why it's illegal in most states and about to become illegal in AZ, finally. There is NO hedge fund, no private investors, no government program, nothing. I've been following these scams for 18 months, done all the research that I can think of, talked with several 'experts' who claim success, and have come to the conclusion that all are hype and BS. It doesn't matter wether they are Alantic, Mutual, Guardian Fund, saveyourhome.com, etc. Every single one claims 'proof' of sucess but it is all smoke and mirrors. And when the cops show up to shut them down they just move on to another renamed scam elsewhere. I have been writting my comments on the Complaintsboard.com under the name "Fustratedin AZ' for several months now. I am still waiting for ANYONE to prove me wrong. Lot's of flag-waving and hype, but NOTHING other than a bunch of hard working folks getting ripped off.
My word of advise... save your money. Try to work with your mortgage carrier. I have been for over 18 months. Keep in mine that I have not missed any payments. (missing or skipping payments will just reduce your chances to almost zero for a modification.)
I hva e submitted and re-submitted my paperwork at least 10 times. Now I'm again waiting for a decision... or more likely a request to submitt more paperwork.
However I am done. I wrote and told them that this was the last time. If they were not going to work with me then I was going to walk away. I can afford my house (for now) but the value is now less than what I paid over 10 years ago! I actually gave them a date I would leave the house. And that the last 6 months they would not get a payment from me. I made sure they recorded my statement. I asked it to be read back to me! They did. So if someday they ever tried to say that I did nor ask for help I have proof they were the ones who stone-walled me.
Bottom line, there is NO PRINCIPAL REDUCTION PROGRAM. By anyone. Not even King of the world B.O.
Work it out yourself (make your payments!!!) or just come to the understanding that your house is history and just move on. That's what I have done and I do sleep well at night because I know I have done everything possible to save my home and the $100K cash I put down over 10 years ago.
THANK YOU I believe what your saying and its about time someone stated the truth. We all want some magic pill and it doesnt exist...including myself!!!!
I came across a company who doesn't charge upfront fees or closing costs. They seem to be honest and return all my calls.
They told me that they were fed up with all these companies claiming to help homeowners and than charge upfront fees.
You should look into them www.homekeeperus.com
Jez.... As soon as 1 scam artist finaly gets busted, another shows up to take their place.
AGAIN! There is NO PRINCIPAL REDUCTION PROGRAM that has been PROVEN! If there was wouldn't it be the headline story on the news and TV???
homekeeperus.com's web site is almost EXACTLY word for word, quoted mortgage rates, blah, blah, blah. They will tell you what you want to hear. They say their the best thing since sliced bred and canned beer! Saying EXACTLY what will make you feel comfortable so obtain your personal information, ie., SSN, place of employment, pay stubs, bank name, and so so. DO NOT FALL FOR IT! Of course their honest. Of course they will return your calls. but give them your private info and see what happens.
Questions you need them to answer are proof that they do what they say. That proof must be able to be proved somewhere other than what they say. Guardian said exactly the same on their web site (words and numbers EXACTLY the same... and most sentences were a perfect match.
Bottom line. This is simply another scam. Don't fall for it!
Jez.... As soon as 1 scam artist finaly gets busted, another shows up to take their place.
AGAIN! There is NO PRINCIPAL REDUCTION PROGRAM that has been PROVEN! If there was wouldn't it be the headline story on the news and TV???
homekeeperus.com's web site is almost EXACTLY word for word, quoted mortgage rates, blah, blah, blah. They will tell you what you want to hear. They say their the best thing since sliced bred and canned beer! Saying EXACTLY what will make you feel comfortable so obtain your personal information, ie., SSN, place of employment, pay stubs, bank name, and so so. DO NOT FALL FOR IT! Of course their honest. Of course they will return your calls. but give them your private info and see what happens.
Questions you need them to answer are proof that they do what they say. That proof must be able to be proved somewhere other than what they say. Guardian said exactly the same on their web site (words and numbers EXACTLY the same... and most sentences were a perfect match.
Bottom line. This is simply another scam. Don't fall for it!
In trying to keep an open mind and hope that someone will be able to do as they say in reguards of modifications... I tried to contact this homekeeperus.com about there services. In my contact I made it clear that I am very cautious of anyone who remotely sounds like Guardian Group (which their web site is clearly almost word for word except for the no upfront fees). I asked for some proof that I would be able to verify myself. That request has NOT been replied to.
Like I have said before, if you become desperate for help (not making payments, waiting for Lord Obama to help, or playing the lottery) and wait till you are about to lose your home, then any one company or web site that makes wild promises and answers the phones starts to sound honest, sincere, helpful, blah, blah, blah. Don't get taken in!
I did try to contact this company again today. I'll see if they bother with me and update this blog.
Make your payments!!!
Update for 8/1/2010.
Still alot of blow hards posting here. But as of today NOT ONE of these 'proven' companies have even bothered to write me back or contact me.
What a suprise.
Maybe I should try to contact them and NOT tell them upfront that if you are a scam company... don't bother.
Like I've been saying here and other boards, there is no such thing as a true principal reduction. Not one bank, not one government agancy, not one 'private hedge fund group' has ever delivered as promised as promised.
If anything I say here is / can be proven to me to be untrue, let me know and I'll acknowledge it!
Principal modification means modify.. Not defer interest, ballon payment, extend terms for years, and all that crap.
Obama PROMISED help. Nothing has happened to good people. The only ones who have gotten anything even close didn't deserve the mortgages from the beginning and now they have defaulted the new modified mortgages... almost 70% of them. What to continued waste of taxpayer money. The only ones who have made anything are (SUPRISE:::::) bankers, investors, and our public crooks called congress men and women,
Screw them all. I will only vote for someone who IS NOT already in congress. And when I retire I will not live in this corrupt country anymore. I'll go somewhere where at least everybody knows the government is corrupt upfront!!!
I work for a Principle Reduction company that charges no UP FRONT FEES or CLOSING COSTS, But all homeowners have to Pre-qualify for the porgram AGAIN NO UP FRONT FEES!! for more details go to WWW.PSLLC1.COM the if you like more info or want to do a pre-qual, fill out the form on the site a request our free pre-qual forms
Thanks
I applied for this and got NOTHING. Not even an email or phone call. But that's my fault. I warned them that if they were a scam not to bother.
So they didn't bother.
I'm not suprised.
The governments rules of engagement change frequently. There are legitimate programs doing principal reductions under the TARP program. Our program has no upfront fees to the homeowner, no fees at closing (escrow only), no property title change, credit rating not a factor in qualifying, must be employed and able to qualify for new loan amount.
Check the current market value (CMV) of your home at http://cyberhomes.com . If you have at least 20% negative equity, you are a good candidate for the program. A new loan could be written for 90% of the CMV giving the homeowner a 10% equity position.
You can view the program details on my website, www.my1ststeps.com.
I applied for this and got NOTHING. Not even an email or phone call. But that's my fault. I warned them that if they were a scam not to bother.
So they didn't bother.
I'm not suprised.
I work with a company that offers the Principal Reduction Program with NO up front money! The new loan will be 90% of current market value. Also 3% or 4% above prime new rate. Please contact me for more info. I am located in Orlando Fl. The company is in New Jersey. Feel free to email me. I would love to help your situation if I can. Thanks,
trendfollowing1@gmail.com
Sounds like Guardian Group clone. Scam.
If you are so damn successful, how come nobody has ever heard of it?
Do you or they have a brokers license? What is the company's name? What is their mortgage license number? What is the name of their financial backing group? Are they registered with the SEC? Provide some verifable proof that this "program" works.
I smell scam. Here's your challange... prove me wrong.
Otherwise shut the hell up and offer honest and productive info to help home owners.
The world is full of scam artists who want to line there pockets (like GGF whose owners are due in court in the near future.) They pocketed millions and nobody got helped. But they got new cars, houses, and had money left over to hire expensive lawyers.
All at our expense.
This outfit in NJ... their website says almost word for word exactly the same as GGF. So, Robert, how did you allow yourself to get suckered into being an agent for them? You are just going to get sucked into another class action lawsuit similar to what is being done with those assholes from GGF. Do you really expect to get your referal commissions? No one else did. Think about it.
I didn't get suckered into the GGF crap, but if I did I would be hunting down those guys with a bat.
Anybody reading this: do your home work. Don't be stupid. This is clearly a scam. Even with no upfront money they will still get your personal info. And with that, a foreclosed house will seem like a small problem.
THINK!
Hi Joseph, Back on 2/12/10 I asked to see proof from anyone of a loan reduction. Can you show us documents
of performance?
I have been in mortgage banking for 16 years and would love to offer a PRP to people that are in need. If there is a company that has had success with providing a PRP please provide proof via full disclosure. Just stating that you do on a web site such as WWW.PSLLC1.COM does not give proof.
Again. It's a scam.
I asked proof from them a couple of months ago and got nothing. Just hype and BS. There is no program period. How many times do people need to be told. Doesn;t anybody read all the blogs or watch the news? Reduction is not lowering payments for a couple of years then paying a ballon paymnet at the end. However it's figured, every modification in this country so far will actually cost more in the long run. That can be proved. Reductions can NOT be proved. PSLLC1 sounds good (just like GGF) but can not prove squat.
Just because they so doesn't make it true. Remember: If it's on the internet... it must be true.
Bullshit.
The fact that there are several dozen posts and no one can confirm an actual principle reduction says that it's not legit..Work with you mortgage company to see what they can do for you and keep it movin. Again, principles were being reduced, everyone would be doing it and there wouldn't be a blog of people looking for a reputable company
http://www.azdfi.gov/Final/Forms/The_Guardian_Group_LLC_C&D_ULA.pdf, they are Fraud.
This website keeps taking down posts that speak the truth.
We only delete posts that use fowl language or are from people that are pretending to represent someone that they are not. We ask you to review our user agreement for more details. We have no problem with posts that have opposing views which should be obvious as you read through this thread.
So TRUE! I'm reporting them to the police. I'm in their parking lot as we speak.
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