Financing in Newport Beach>Question Details

Patricia, Home Buyer in Detroit, MI

Hi, Anyone know anything about Help Modify Now? (Specifically the branch in Newport Beach, CA). They claim

Asked by Patricia, Detroit, MI Fri May 8, 2009

to be the only legit loan modification company. I went on their website but they only list an out of state address in Las Vegas, Nevada, and they show a picture of their office in Newport Beach but with no address. And on their staff page, they have no names. Also they want $3000 up front. I don't need the generic advice about how you can't trust any of these people. I know that. But I keep hoping there's some honest loan modification company out there. I want specific info on these people. Anyone have any actual experience with them? thank much. Failing that - anyone know of an honest loan modification company? My property is actually in Charlotte, NC.- though I live in L.A., CA.

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Answers

49
It does not appear as if Larry Gunter - Help Modify Now were fulfilling the following assertion

"Of those requests that have been accepted, we have closed all but 3% and reimbursed the clients on those few occasions (usually due to unknown impending sale dates)."

That is listed on their website:

http://helpmodifynow.com/services/general-faq/

If you believe you have been the victim of a loan modification scam through either company, Help Modify Now or Consumer Resource Law Center, please contact Detective Bob Watts at 949-644-3799 or call the Detective Division hotline at 800-550-NBPD.

http://www.nbpd.org/civica/press/display.asp?layout=12&E…
10 votes Thank Flag Link Mon Dec 7, 2009
http://cbs2.com/local/Loan.Modification.Fraud.2.1350304.html

Newport Beach Man Accused Of Loan Mod Fraud

NEWPORT BEACH, Calif. (CBS) ― Police say a Newport Beach man ripped off distressed homeowners with loan modification businesses that did nothing to help his customers save their homes.

Larry Ervan Gunter, 34, is accused of taking money from homeowners having trouble making their mortgage payments and promising to work out better terms on their loans, but never doing anything on their behalf, Sgt. Evan Sailor said.

Gunter owns Help Modify Now, 4665 MacArthur Court, Suite 100, and Consumer Resource Law Center, 301 Shipyard Way.

Gunter's companies charge homeowners at risk of foreclosure $1,500 to $3,500 to start a loan-modification process, Sailor said.

About 50 customers told police that once they made their initial payment, they never heard back from anyone at the companies and all attempts to contact them were unsuccessful. The victims lost more than $175,000, Sailor said.

Gunter was arrested Tuesday on a probation violation, Sailor said. Newport Beach police are working with the Orange County District Attorney's office to determine what charges should be filed.

Anyone else who believes they are victims can call Detective Bob Watts at (949) 644-3799 or (800) 550-NBPD.
10 votes Thank Flag Link Fri Dec 4, 2009
Fraud! Do not send any money!!! They don't answer calls, won't return $2500 that I sent them and the customer service I did have was poor at best after said cash was received. RUN! NO JOKE!

Bruce
Pastor at a church
10 votes Thank Flag Link Fri Dec 4, 2009
http://news.yahoo.com/video/local-15749667/16992464

Local Man Accused In Mortgage Fraud Scheme
Police in Newport Beach say Larry Gunter set up a phony mortgage modification scam and bilked clients. He used the companies Help Modify Now and Consumer ...
news.yahoo.com/video/local-15749667/16992464
9 votes Thank Flag Link Sat Dec 5, 2009
If you feel that you have been a victim of theft by Help Modify Now, call Newport Beach Police Department Detective Bob Watts, 949-644-3799.
9 votes Thank Flag Link Mon Nov 2, 2009
I have been dealing with Help Modify Now for several months now. Have not heard from them since i sent them my money and all of my info. My negotiator informed me not to pay my morgage because when its modified it will take care of all back payment that i have missed. I am now several months behind and recently received forclosure papers on my home. I honestly think i have been screwed and it goes to show how awful people are when people are in need of help. I also have been calling them for serveral weeks on a daily basis, no return call yet.
9 votes Thank Flag Link Tue Oct 27, 2009
Michael, Just because you are affiliated with, and get paid by, Help Modify Now, doesn't make them any more legitimate or honest than the FREE resources available to any homeowner. The source I mentioned below, http://www.fairhousingoc.org does NOT charge a $3000. up front fee - actually, they charge no fee whatsoever. I volunteer for them, and can attest that they are equally adept at getting the job done.

Yes, there are a few circumstances where an attorney group might spot a legal issue with respect to the original obtaining of the loan. Frankly though, most such groups pass the homeowner over to a paralegal, who is probably no more qualified than the workers at http://www.fairhousingoc.org.

There is also the possibility of doing it yourself, if you have the time, and energy, to put up with the myriad of stall tactics employed by most lenders.
Web Reference: http://BobPhillips.net
7 votes Thank Flag Link Wed May 20, 2009
Help Modify Now / HMN services should not be trusted. I should know, I was taken advantage of by them and I am aware of the mess they call a business!~
6 votes Thank Flag Link Wed Jul 1, 2009
Michael,

You say your company charges no up front fee unless you qualify but that's a crock. Of course they're going to tell you that you qualify whether you do or not, so they can take your money.
I am wary, because they immediately said I qualify, even though the property I want to do a loan mod on is a second home and is not rented out and on top of which I do not have an ARM, but a fixed loan, so I know that makes me a low candidate for loan mod, yet they said for sure you qualify, so I have a feeling your company just wants to take my money. If you guys were really so sure a case qualified, you should charge upon loan modification actually happening.
That's the only fair way to know you guys aren't a bunch of tricksters.
6 votes Thank Flag Link Wed Jun 24, 2009
Help Modify Now's new contact information

Help Modify Now
c/o Larry Gunter - Owner
4210 River Avenue
Newport Beach, CA 92663

714-395-5705 Phone

Help Modify Now (aka Consumer Resource Law Center) is no good. If you have paid this company money and can't get in touch with them like all of us, try the owner on his cell phone: Larry Gunter (Owner) 714-395-5705.

Help Modify Now
c/o Larry Gunter - Owner
4210 River Avenue
Newport Beach, CA 92663

Don't forget to ask how the planning is coming along for his month long trip to Hawaii which he's leaving for next week. WAIT A MINUTE... I THOUGHT HELP MODIFY NOW RAN OUT OF MONEY... WELL, MAYBE THE COMPANY DID BUT OBVIOUSLY THE OWNER STILL MAINTAINS AN EXTRAVAGANT LIFESTYLE.
4 votes Thank Flag Link Sat Nov 21, 2009
http://loanworkout.org/2009/12/help-modify-now/

Help Modify Now & Consumer Resource Law Center: CEO, Larry Ervan Gunter Arrested by Newport Beach PD

Newport Beach Police say Help Modify Now and Consumer Resource Law Center CEO has been arrested. The NBPD is informing the public that this man has allegedly ripped off more than 50 people nationwide who were hired his firm to perform a loan modification.

I reported on this company last month due to complaints I was receiving via my blog and email: Help Modify Now & Consumer Resource Law Services: Homeowner says they are a scam!

Larry Ervan Gunter, 34, was arrested last Tuesday during a routine traffic stop by NBPD on an arrest warrant for unrelated charges. They are investigating the man who operated Help Modify Now and Consumer Resource Law Center authorities said.
Newport Beach Police had received several complaints about Gunter’s firms swindling between $1,500 and $3,500 from homeowners in up front fees to work on modifying their loans. Apparently this Gunter charatcer did nothing for the cash and didn’t even return calls to worried homeowners. The scamming CEO made off with more than $175,000.

Attempts to contact either company were unsuccessful Friday. The address listed for Help Modify Now is bare, except for desks and a few computer monitors.

Senate Bill 94 prevents companies, individual contractors or attorneys from receiving payments before doing the work, police said. Gunter has yet to be charged for his alleged crimes, and the Orange County district attorney’s office is working with Newport Beach Police on what additional charges should be filed outside of a probation violation, said Sgt. Evan Sailor.

Gunter is being held in Orange County Jail without bail on a probation violation, and so far has been charged with only traffic violations, court records show.

If you believe you’ve been a victim of a loan modification scam through either company, contact Det. Bob Watts at (949) 644-3799, or the detective division hotline at (800) 550-NBPD.
3 votes Thank Flag Link Fri Dec 11, 2009
I have given them 2500 dollars up front and i was assured that they had confirmation that they could work on behalf of me with the bank!!! They never did it!!!! Not only are the phone lines busy that you cant get thru but when you do leave a message no one gets back to you!!! DONT TRUST THIS COMPANY!!!
3 votes Thank Flag Link Thu Dec 10, 2009
Newport Beach Man Accused Of Loan Mod Fraud
NEWPORT BEACH, Calif. (CBS) ―

Police say a Newport Beach man ripped off distressed homeowners with loan modification businesses that did nothing to help his customers save their homes.

Larry Ervan Gunter, 34, is accused of taking money from homeowners having trouble making their mortgage payments and promising to work out better terms on their loans, but never doing anything on their behalf, Sgt. Evan Sailor said.

Gunter owns Help Modify Now, 4665 MacArthur Court, Suite 100, and Consumer Resource Law Center, 301 Shipyard Way.

Gunter's companies charge homeowners at risk of foreclosure $1,500 to $3,500 to start a loan-modification process, Sailor said.

About 50 customers told police that once they made their initial payment, they never heard back from anyone at the companies and all attempts to contact them were unsuccessful. The victims lost more than $175,000, Sailor said.

Gunter was arrested Tuesday on a probation violation, Sailor said. Newport Beach police are working with the Orange County District Attorney's office to determine what charges should be filed.

Anyone else who believes they are victims can call Detective Bob Watts at (949) 644-3799 or (800) 550-NBPD.

http://cbs2.com/local/Loan.Modification.Fraud.2.1350304.html
1 vote Thank Flag Link Wed Apr 21, 2010
I am ashamed to say that I use to work for this guy. As soon as I realized he was a scam artist we parted ways
1 vote Thank Flag Link Wed Apr 14, 2010
they rip me off for $ 3.800 dollar,dont tust them at all,
1 vote Thank Flag Link Thu Feb 11, 2010
Help Modify Now did complete many loan modifications successfully helping people from losing their homes. It is unfortunate that they got in over their heads with so many clients and not enough staff and or reliable employees to handle such large capacity of files. Help Modify Now and Larry Gunters intentions were not to take money from people facing hardships causing them to lose their homes. It saddens me to know the hundreds of people they were not able to help causing them to possibly lose their homes. However, Larry Gunter IS NOT a conartist. He is a hardworking man who has been very successfull, he has 2 beautiful children who desparetly need him and adore him.
1 vote Thank Flag Link Fri Dec 4, 2009
My husban and i are still waiting for our loan mosification we apply in june and send all the money the 3,000 they ask for and have not heard or received any help. it is getting scary Jared Bledsoe the excutive asured us that he could help by lowering our mortage payment to 900.00 per month and this payment included insurance. now that we have paid they don't answer any of our phone call or e-mail . jared Bledsoe told us that we did not have to pay our mortage because everthing was going to start over new once the modification was completed. now we are about 5,000.00 in the rear on our house payment. we ar very scared. and still waiting. PS. the company sound and look legit but i am still waiting and afraid to tell my husban what i think may have happen. please research futher.
1 vote Thank Flag Link Sun Oct 18, 2009
Hi Patricia
Please check out this website http://www.makinghomeaffordable.gov/
I know many many people just like your situation find it very helpful.

Best of Luck
A.J.Zaki
1 vote Thank Flag Link Sat May 9, 2009
Larry Ervan Gunter (The owner who screwed you) will appear in the Orange County Superior Court on September 10, 2010 for sentencing.
It is your responsibility to contact the Newport Beach District Attorney. You must make sure that their office has your complaint and will include it before sentencing. Otherwise, Larry will only get anther slap in the hand just like the other simular crimes he has been convicted of. ( See ORANGE COUNTY SUPERIOR COURT) and click on criminal cases.
THE CASE NUMBER FOR THE MODIFY NOW CASE IS 09HF2162
You must help in convicting this guy , don't just cry about it on these reviews.
D.A. Office --(949) 476-4650
0 votes Thank Flag Link Mon Aug 16, 2010
I actually used to work for this firm in Newport Beach and out of curiosity just now I happened to Google them. As far as I know, they were a legitimate company and actually did get people's home loans modified but yes, the upfront fee is 3k. They were located in Newport Beach, Ca however I cannot remember the exact address. They were located at Campus Drive and MacArthur Court. I hope this helps.
0 votes Thank Flag Link Tue Jul 20, 2010
Frank -

This question was posted over a year ago. The person who posted it has not comented for more than a year. I think this one is dead.
0 votes Thank Flag Link Mon Jul 5, 2010
Don't know of this person, but u cannot assume every loan modifier is a crook and many people need good professional help.
Someone who is honest, knows what the modification box looks like lenders have created, and how to get u into that box is worth every penny u pay them and more.
Problem is finding someone like that. There r many scam artists and there are many more people who r basically honest and think they can do modifications for u, but really don't have a clue about what it takes to get a modification done. I call them document stackers and they have about the same chance of getting you modified as you have getting it done yourself. My guess is about 1 in 15 will naturally fall into the modification box without making adjustments to either your income or overall budget.
Someone who is honest, cares about people, knows what an impact a modification will have on someone's life, knows what the modification box looks like and works on modifications every day, can and will get a very high percentage of modifications done providing people meet the requirements or can be coached on how to meet them.
I know what I am talking about because I am such a person. I won't say who I am because it would be in violation of site rules, you cannot advertise honesty anyhow and since I get so many referrals from people I have already modified I am already at the point I have to turn down files.
I would like to see everyone who deserves a modification get one because I know how important it is to you and your family. So, I am going to put a few tips here in the hope it helps some of u get your modification done.
U can find the general guidelines and forms on line, so learn all u can from the HAMP web site and download the forms. Remember this isn't easy and u have to be extremely persistent.
I am only talking about owner occupied properties that are eligible for HAMP aka the Obama plan.
U will see one of the main caveats of the program is the modification must test positive for a modification as opposed to the lender foreclosing.
Here is what that means: The lender will run what is called the Treasury NPV (net perceived value) test on your home to determine if it will end up costing the lender more to modify your home or foreclose on it. It they will lose less money by modifying they will, providing you meet the rest of the requirements. If they will lose less money by foreclosing they will whether you meet the rest of the requirements or not.
To simplify for you here is how u can tell if you will test positive to modify. The lender will use methods to determine the current value of your property so that’s where you start. Your realtor may be the best bet or Zillow for a rough estimate. Compare this value against your loan balance. For homes worth 400k and up u can figure the met perceived value of your home to the lender under foreclosure circumstances is around 72% of the current actual value if u r current or only a couple months late on your mortgage. This is because of lender costs incurred by foreclosing such as missed payments, home sold as bank owned, R E commission etc. If your home is worth less than 400k the percentage will be higher as the value diminishes maybe down as far as 50% on a home in the 100k range. Compare the number u come up with to the cost to the lender to modify. It is determined by the interest rate modified to. HAMP modifications are modified to as low as 2% with a term extension up to 40 years, but the initial % rate only lasts 5 years then rises 1% a year until it caps out at around 5% depending on what the lenders expected return on money is at the time your loan is modified. 4 example if you got modified to 2% and your loan was 400k it would cost the lender 3% a year for the first 5 years 2% in the 6th and 1 % in the 7th before it capped at around 5%. Add that up and it is an 18% cost to the lender x the 400k or 72k. The lender will also receive about 10k on this size loan from the government for doing the modification. I call this the government cheese. So the total cost for the lender to modify is roughly 62k. Lets say your home is worth 450k and we multiply that times 72% because that is what it is worth to the lender as a foreclosure, 324k. Subtract the 324k from the 400k loan balance you will see it costs the lender 76k to foreclose and only 62k to modify so it tests positive 4 modification.
.Only 400 characters left so I have to cut to the chase. Multiply 31% x, your gross income, this is your new payment if it qualifies u and u can add income from anyone who lives in the house with a contribution letter up to their total earnings. This includes principal, interest, taxes and ins. or HOA. Subtract that payment from your net income and then continue subtracting minimum payments on bills plus living expenses. You need to have between 3 and 5 hundred left over. Sorry at word limit. U can find me if u need more info. Good luck! Find me if U need more info.
Frank Welch
0 votes Thank Flag Link Sun Jul 4, 2010
Don't go with Help Modify Now they rip us off $3,000 they didn't do anything for us their address and phone numbers are not valid. I have been trying to contact from the longest while and can't find them.
0 votes Thank Flag Link Tue Jun 1, 2010
0 votes Thank Flag Link Sat Apr 24, 2010
0 votes Thank Flag Link Sat Apr 24, 2010
Ok - so the original question was posted just about a year ago (see above) and I've offered a few tidbits along the way. My next little morsel has to do with E&O Insurance (Errors and Ommissions Insurance) which is protection for the agent / broker / negotiaor / modification person and their client in the event someone makes a mistake, overpromises, underdelivers, omits some disclsosure, or just doesn't know what they are doing!

When engaging ANY individual or company to work on a Loan Modification, make sure they have all the appropriate Insurance Coverage needed. MOST E&O Insurance providers DO NOT provide coverage for Loan Modification activities.

Sometimes RE agents are working on Loan Mods without the clear knowledge of their Broker or Insurance Carrier which could cause some issues down the line.

Agents: Make sure your E&O covers Loan Mods !

All, let's let this topic go..........

Thom Colby
Broker / REALTOR
Southern CA
0 votes Thank Flag Link Wed Apr 21, 2010
Dont DO iT!!!!!!!!!!! I payed them and when they get ur money they never help you or get to you. There phone lines are always busy! they took 2500 of my money and did nothing!
0 votes Thank Flag Link Wed Apr 21, 2010
There is never a need to pay a 3rd party money for help with your loan modification. You just need to speak directly with your lender. They all have programs now for their clients who are in tough times. You also need to stay in constant contact with them. Make sure you are calling them at least once a week and get the names and contact info for everybody you speak with.

Unfortunately they these loan modification divisions have a high turn over. So you can speak with somebody for a month and then he is gone and sometimes so are your records. So you need to keep talking with them and do not take no for an answer. Persistence will help you get this done so save your money and contact the lender yourself.

Sorry to hear about your situation and good luck to you.
0 votes Thank Flag Link Wed Apr 21, 2010
Hi Patricia,

It's just so sad that people are trying to profit on people with some real problems. Sadly....there is no magic bullet. Just reach out to the lender and talk...see what you can work out.

I really wish you well....I know people who have had success, so don't give up hope, especially if you are in an area which is not booming, they don't really want to own your home. You might also speak to a BK attorney who might be able to help you through Bankruptcy court.

good luck....

Karen
0 votes Thank Flag Link Mon Apr 19, 2010
Help Modify Now's new address is

Help Modify Now
c/o Larry Gunter
4210 River Avenue
Newport Beach, CA 92663
0 votes Thank Flag Link Sat Nov 21, 2009
This is Angry Wayne again. I forgot to add this link.
0 votes Thank Flag Link Sat Nov 21, 2009
My name is Wayne and Help Modify now screwed us out of $1,500. We gave them $1,500 up front and they made all sorts of promises and they didn't live up to any of them. They said that if we couldn't afford the $2,500 that they were asking, then they encouraged us to 'withhold' our mortgage payment and use that to pay them. We were 2 months behind on our mortgage at the time and Tyrone said "It would look better if we were 3 months behind on our payments so we could qualify faster. Needless to say, they were all LIES and we're trying to get our money back.

In looking at the Better Business Bureau's website in Calif. about them, as of November, 2009, the BBB gave them an -F- rating. Check it out yourself.

And Carol, you said to Patricia, "Help Modify Now is a legitamite corporation, they have been opened since 2007 and have 148 offices nation-wide. They don't ask for money upfront, it's only when and if you application has been approved.

Don't believe Carol (she might even work for them). When we talked to Help Modify Now, they wanted $2,500 sent to them in overnight mail. Talk about fast approval. No, they just want to get their hands on your money and "Then It's Your Problem". Take my advice and stay away from them and look for the free help listed on this website.
0 votes Thank Flag Link Fri Nov 20, 2009
Help Modify Now is no longer at 4665 MacArthur Court in Newport Beach.
0 votes Thank Flag Link Wed Nov 18, 2009
I an dealinfg with thenm right now. The phone number is 877-794-9438. address is 4665 Newport center drive
All I can say it is taking them along time. I have been at there office twice I plan on going down on Wednesday.
I have spkoken to my lender and they are in contact with them.
0 votes Thank Flag Link Mon Nov 2, 2009
It is now illegal in California for anyone to charge advance fees on loan modifications. (law passed and signed by Governor October 11, 2009). The relate to any private servicer, whether a person, a company, a lawyer, real estate broker, etc.

If somebody has asked you since that date of October 11, 2009, in California to pay advance fees for loan modification, please get their name, contact information, and call the police department at your local community to make a report of the law violation.

You should never hire anybody from out of the State of California regarding loan modification or real estate services in this state.

If you hired a loan modifier and paid advance fees prior to October 11, 2009, you were probably dealing with scammers and won't have much luck getting your fees returned.

Harrison K. Long, Realtor and broker, Explore Group, Coldwell Banker Previews, Irvine, CA.
http://www.ExploreOCHomes.com
0 votes Thank Flag Link Thu Oct 29, 2009
Geovianna -

You should contact the bank who holds your mortgage and ask them if there has been a loan modifcation request submitted on your behalf. Don't be surprised if your lender has never been contacted. You should also get in touch with the Attorney General's office ASAP and submit a complaint. Anyone who takes your money in advance should be keepign you up to date on the status of their work. In California, it is no longer legal to collect fees in advance for Loan Modifications.

Banks perform Loan Modifications when warranted, without any fees.

Best of luck,

Thom Colby
Broker & REALTOR
Orange County, CA
Web Reference: http://www.thomcolby.com
0 votes Thank Flag Link Sun Oct 18, 2009
Don't do it. My opinion is..if they really can do what they can do and KNOW they can. Then they can wait to get paid at the end of the transaction like we do. :)
0 votes Thank Flag Link Sat Aug 15, 2009
If you know how to work the number you will qualify. If you don't then you're screwed. That is the benefit of using a modification company. Modification companies know all the little loopholes that the average consumer does not know. Also, lenders are not the easiest group to work with. If you are not aware of how the process works it can become very frustrating.
0 votes Thank Flag Link Fri Aug 14, 2009
Hi Patricia,

You have four free options for loan modification first try these.
1 your lender
2 fanniemae.com
3. freddiemac.com
4 makinghomeaffordable.com

These are all free. Also I do not suggest you sign anything by your bank without some type of legal respresentation. Your loan will change and the terms might be more than you are comfortable accepting but you might sign because you like the terms and low interest rate. Be careful.

the other types of loan modification you have to pay for, ask for testimonials from satisfied clients so that you can know for sure. Good luck!

this website might help you.

http://www.foreclosureoptionsnetwork.com
0 votes Thank Flag Link Sat Jul 4, 2009
I need to clear this up. One of the answers is wrong here. Banks WILL do loan modifications on investment property. I've had clients try to do loan modifications on their own with little to no success. Banks are only looking out for their own best interests, even though they always end their calls to you with "...and thank you for being our customer.." As if they REALLY care that you're having some tough months & that a $100 reduction in your mortgage payment is ACTUALLY going to help you.

There are legitimate loan modification companies out there & individual Realtors (like myself) who are offering to help homeowners & investors with loan modifications. Myself and others DO NOT charge up front fees!

Another thing, regarding investment property. Some banks are even lowering principal balances, however I have not seen many reducing balances to anything that really makes sense to an investor.

Feel free to contact me, should you have any other questions regarding Loan Mods, Short Sales or in general current RE market conditions.

emilyknell1@yahoo.com
0 votes Thank Flag Link Thu Jul 2, 2009
Go to http://loanmodificationhelpnow.blogspot.com/

This blog has legitimate help. Don't be fooled by the scams. Good luck!
0 votes Thank Flag Link Wed Jul 1, 2009
Not hiring industry leading professional's and attorney's who specialize in loss mitigation and/or real estate to negotiate your property's note is much like having a CPA who handles the financial and taxes aspect of your business. If you can afford it, the out come of using their service is more favorable for you.

I think there's a lot of confusion as to why anyone would utilize a company to perform this for them, when they can achieve it on their own.

There are multiple Modification Plans currently in effect. Lender specific, Attorney General based, and Government programs. When you speak to a Lender, or a HUD counselor (who's funded by the big lenders nationwide), they're going to show you how to gain a 'level 1' modification, or a simple forbearance. There are different plans you can qualify for based upon having someone who knows the industry; submitting based upon that program's guidelines, and then negotiating based upon several other aspects.

It's much like having a General Contractor do the remodeling to your property. Sure, you could perform the labor, and complete it on your own. But will it happen in a timely manner, can you invest the time necessary to have it completed when you want, or when it's imperative; above all else, will you be satisfied with the final outcome?

hope I've been some help.
0 votes Thank Flag Link Sun Jun 21, 2009
Patricia -

To "qualify" some of the advice provided here, you should ask for "full disclosure" as to any relationship they may have with this firm or others who provide Loan Mod Services.

I, for one, have NO affiliations with any such companies.

Thom Colby
Broker & REALTOR
Orange County, CA
Web Reference: http://www.thomcolby.com
0 votes Thank Flag Link Mon May 18, 2009
Patricia, Help Modify Now is a legitamite corporation, they have been opened since 2007 and have 148 offices nation-wide. They don't ask for money upfront, it's only when and if you application has been approved. I would not suggest going to a lender and trying to do a modification on your own, they drag thier feet, and most of the time will not call you back or help! An attorny will get the ball moving, and that's what you pay for... Help Modify Now has a excellent record... Go to Trust.com and read the reports...

Best of luck,
0 votes Thank Flag Link Mon May 18, 2009
Patricia -

Let me also add, if the property in Charlotte that where you want to modify the loan is not your PRIMARY Residence the likelihood of a loan mod is almost zero. Loan Mods and all of the government program are designed to keep people living in their homes. I suspect this is a rental property for you - if so, and you are truly underwater, hire a local REALTOR in Charlotte and sell it as a short sale.

I will say it again DO NOT PAY ANYONE TO DO A LOAN MOD - most especially on a non-primary residence !

Thom Colby
Broker & REALTOR
Orange County, CA
Web Reference: http://www.thomcolby.com
0 votes Thank Flag Link Sat May 9, 2009
http://wiki.answers.com/Q/Is_Help_Modify_Now_Corp._a_legitim…

PS Im not accountaint but what I have been told, if its your 2nd home or investment, hardly any one will help you.
i hope im wrong.
0 votes Thank Flag Link Fri May 8, 2009
If a bank screwed you on the loan the 1st time....what makes you think that if you go it alone a 2nd time with the bank....that the bank will have your best interests in mind????????????

NOT ALL LOAN MOD companies are evil...do NOT throw the baby out with the bath water.

I can recommend a reputable loan mod company right here in Orange County.

Email me @ ocrealestateexpert@yahoo.com
0 votes Thank Flag Link Fri May 8, 2009
Thom's answer is correct, Patricia. The only thing I would add is the Government's website which has a Q & A about whether you qualify: http://www.makinghomeaffordable.gov/

Another suggestion. You have to be very persistent. I work with the O.C. Fair Housing Council ( A free source of assistance: http://www.fairhousingoc.org.) and we average 20 calls to a lender to get a loan mod completed.

You might also call them at 714-569-0823

Good luck in getting a solution to your situation.
Web Reference: http://BobPhillips.net
0 votes Thank Flag Link Fri May 8, 2009
Patricia -

DO NOT PAY ANYONE TO DO A LOAN MOD FOR YOU ! ESPECIALLY STAY AWAY FROM ANYONE ASKING FOR "UP-FRONT" FEES - in some states it is illegal to collect up-front Loan Mod fees!!

All Lenders will do it for free (if you qualify). Contact your lender and ask for the Loan Modification Department. They will likely have a recording about Loan Mods and about the President's program for helping homeowners. When you reach them they will ask you a number of questions and you will have to submit some forms and information to the lender for their consideration to modify your loan.

If you have only one loan, find out if it is FNMA insured.
You can do this by going to http://loanlookup.fanniemae.com/loanlookup - if it is FNMA you will ikley get a loan mod quicker.

Again, DO NOT PAY ANYONE TO DO A LOAN MOD FOR YOU !!!! There are too many scams so be very careful.

Best of luck,

Thom Colby
Broker & REALTOR
Orange County, CA
Web Reference: http://www.thomcolby.com
0 votes Thank Flag Link Fri May 8, 2009
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