Five implicated in foreclosure scam

Full story: LA Daily News

Three people were arrested and two others are being sought in connection with an alleged foreclosure scam ring, California Attorney General Jerry Brown announced today.
Comments
1 - 20 of 24 Comments Last updated Mar 5, 2013
First Prev
of 2
Next Last
SP Gal

Rancho Palos Verdes, CA

|
Report Abuse
|
Judge it!
|
#1
Nov 4, 2008
 
Homeowners beware - there are so many people trying to take advantage of this mortgage crisis. You can negotiate with your lender directly. Never ever pay up front for anything and never release personal information. You can also have your property taxes lowered with one quick, easy form - you can find it on the assessors website. Do your homework and do searches online.....there are many things that are easy to do and very do-it-yourself friendly.
CESAR

Highland, CA

|
Report Abuse
|
Judge it!
|
#3
Nov 4, 2008
 
MY BANK HOMECOMINGS FINANCIAL MORTGAGE JUST FORECLOSURE MY HOME IN AN AUCTION YESTERDAY! I' M VERY DISSAPOINTED THEY DIDN'T HELP US OUT AFTER I PAID THEM $10,000.00 TO STOP FORECLOSURE THE FIRST TIME, THEY SAID THEY WOULD REVIEW MY ACCOUNT FOR A POSSIBLE MODIFICATION FOR A PERIOD OF 2 MOTNHS,. THEY DIDN'T AFTER I PAID, THE 10K THEY DENY ME RIGHT AWAY. THEY LIARS THEY CHEAT ON PEOPLE. THEN I HIRE SOME ATTORNEY, THEY SAID THEY NEGOTIATE, AND MY BANK WANTS ANOTHER $6000.00 TO STOP FORECLOSURE. I RUN OUT OF MONEY! SHAME ON THEM.
http://www.youtube.com/watch...
Lordkeith

Parsippany, NJ

|
Report Abuse
|
Judge it!
|
#4
Nov 4, 2008
 
No Habla wrote:
Illegal aliens it figures. And they have ballot measures against gays. They arent hurting any one!
Turns out they were Gay illegal aliens Prop 187 and 8 would've prevented this.
Sleazy

Los Angeles, CA

|
Report Abuse
|
Judge it!
|
#5
Nov 4, 2008
 
I'm sure these sleazy Mexicans were responsible for getting other Mexicans to take out the subprime mortgages...and now they are ripping them off in the foreclosure process! I hope they get locked up in a 4x8 cell for life!

Welcome to Tiuana!
Kathy

Burbank, CA

|
Report Abuse
|
Judge it!
|
#6
Nov 4, 2008
 
As the economy continues to tank you will see more scams and phishing schemes. Beware
hlvnhlpme

United States

|
Report Abuse
|
Judge it!
|
#7
Nov 4, 2008
 

Judged:

1

1

1

Another mortgage scam company is MGK and Associates, located in Paramount, CA. They also need to be investigated. They work under the same premise. They take advantage of the homeowner's trust and drag them along until the zenith hour and then refer you to their bankruptcy attorneys for another overpriced fee. I fell for the first part, but not the second. They call themselves forclosure negotiations.
boff

Riverside, CA

|
Report Abuse
|
Judge it!
|
#8
Nov 6, 2008
 
It's too bad a few bad eggs can make it difficult for those that really do need help. The story is not entirely correct. Only Real estate brokers, mortgage brokers and attorneys can legally do loan modifications. Unless the brokers have a trust account they cannot collect any money up front. Attorneys can however. You just need to find someone who you trust and who is reputable. Remember you can represent yourself in a court of law but remember the old saying that whoever does so has a fool for a client. You can also pull your own tooth but I wouldn't recommend it.
SP Gal

Rancho Palos Verdes, CA

|
Report Abuse
|
Judge it!
|
#9
Nov 7, 2008
 
Sorry Boff but you are mistaken. Any homeowner in a bind can work directly with their mortgageholder. They will need to furnish financial information and have new loan docs. notarized but to advise people that they need professional assistance is a bunch of crap. This is the age of "Do-It-Yourself" the internet is a great resource and don't be afraid to work directly with your lender. They don't want to lose, they will help you!
In greed we trust

United States

|
Report Abuse
|
Judge it!
|
#10
Nov 8, 2008
 
Let's face it! Banks aren't worried about you and your financial crisis. The banks were the ones that initiated this mess in the first place. Yes, I understand that G.W.Bush was the one that planted the seed but the banks were the one that continued to generate ARM loans to anyone that wanted a home. Guide lines were ignored because if someone default, the bank gets the property back. Brilliant!!! Plus they get bailed out by the U.S. Gov't. Wow!! Who wouldn't participate in dishonest activities if you're going to be bailed out in the end. Did we not learn anything after the collapse of ENRON? The banks will not work with most people that are going through foreclosure. WHAT A SCAM!!!!...for the land of the free and the home of the greedy.
daph

Ocilla, GA

|
Report Abuse
|
Judge it!
|
#11
Nov 15, 2008
 
I paid a company called First Foreclosure solutions 550.00 to start a loan modification. I rec'd a bunch of paper work by fax to fill out and fax back. Today I'm to pay them the another 550.00 to complete their fee. I have this terrible feeling about it. I wasn't in foreclosure to begin with just had an adjustable rate mort for 5 years.
The reason I am not feeling right about it is:
I got the offer in my email
The person who is the contact man never uses a company name when I call him.
The toll free number on his email has never been answered.
He is in Colorado Springs and his "mediator" is in Florida.
I can barely get a phone call returned but they were quick to call about my second payment.
I have straight out as him if is he scamming me. I have 2 full names of the lead man and the mediator. I did a google on them and they both do exist. The company however I can't find any thing on.
My husband says be patient and let them help us. I pa.id first 1/2 2 and a half weeks ago. I was not in foreclosure but I am going too be before they help!
Any suggestions

“America & LEGAL Americans 1st”

Since: Aug 08

Chatsworth

|
Report Abuse
|
Judge it!
|
#12
Nov 15, 2008
 
daph wrote:
I paid a company called First Foreclosure solutions 550.00 to start a loan modification. I rec'd a bunch of paper work by fax to fill out and fax back. Today I'm to pay them the another 550.00 to complete their fee. I have this terrible feeling about it. I wasn't in foreclosure to begin with just had an adjustable rate mort for 5 years.
The reason I am not feeling right about it is:
I got the offer in my email
The person who is the contact man never uses a company name when I call him.
The toll free number on his email has never been answered.
He is in Colorado Springs and his "mediator" is in Florida.
I can barely get a phone call returned but they were quick to call about my second payment.
I have straight out as him if is he scamming me. I have 2 full names of the lead man and the mediator. I did a google on them and they both do exist. The company however I can't find any thing on.
My husband says be patient and let them help us. I pa.id first 1/2 2 and a half weeks ago. I was not in foreclosure but I am going too be before they help!
Any suggestions
Sounds like you've been scammed. Didn't anyone ever tell you about not answering spam email... let alone sending them money?

Did you get excited when you got that email from Nairobi, Kenya about the $2 million they were putting into your account if you'd send them $5,000 for the transfer fee and your account number?
daph

Ocilla, GA

|
Report Abuse
|
Judge it!
|
#13
Nov 15, 2008
 
no i didn't get excited about the the email from nairobi
daph

Ocilla, GA

|
Report Abuse
|
Judge it!
|
#14
Nov 15, 2008
 
has any one heard of this company?
tinalouise

New Orleans, LA

|
Report Abuse
|
Judge it!
|
#15
Jan 17, 2009
 
While online trying to find govt. help w/ arm mortgage filled out form and spoke w/ rep.(also in Colorado Springs) today from First Foreclosre Solutions. Questioned him on what the company was and how they made their money. Was given no specific figure (he said should be about one mortage payment $2000). Chad described their service as they had connections at mortgage cos. and they would negotiate for a more affordable payment. Left it that I will be contacted tommorrow from someone else in 719 area code. Probably Florida as described above. Am so glad I ran across foreclosurefish.com before speaking with them again. This situation is so depressing and stressful that I am desprate and probably could be easily ripped off. It seems that there is no help to be found. Have already been to HOPE program. What a JOKE!

Have heard that the new bankruptcy laws (wherein you loose your home) have very recently been changed again to force lenders into restructuring home loans. Don't want to be forced into bankruptcy -- Has anyone found REAL HELP???

I have put everything (which was considerable) into making huge monthly interest payments for the past three years and don't think I can deal with loosing my home of 15 years and/or living under the bridge! Best wishes for mental and fiscal health!!
tinalouise

New Orleans, LA

|
Report Abuse
|
Judge it!
|
#16
Jan 17, 2009
 
Thanks to all of you for your comments, you have definitely saved me money, time that I don't have and possibly my life!

“bamboo forest and an iced tea”

Since: Jul 08

Location hidden

|
Report Abuse
|
Judge it!
|
#17
Jan 17, 2009
 
Well the big five I know about is freddie mac, sallie may, HUD, fannie may corp and barnie franks!!!
Taxpayer_Voter

Glendale, CA

|
Report Abuse
|
Judge it!
|
#18
Jan 17, 2009
 
tinalouise wrote:
While online trying to find govt. help w/ arm mortgage filled out form and spoke w/ rep.(also in Colorado Springs) today from First Foreclosre Solutions. Questioned him on what the company was and how they made their money. Was given no specific figure (he said should be about one mortage payment $2000). Chad described their service as they had connections at mortgage cos. and they would negotiate for a more affordable payment. Left it that I will be contacted tommorrow from someone else in 719 area code. Probably Florida as described above. Am so glad I ran across foreclosurefish.com before speaking with them again. This situation is so depressing and stressful that I am desprate and probably could be easily ripped off. It seems that there is no help to be found. Have already been to HOPE program. What a JOKE!
Have heard that the new bankruptcy laws (wherein you loose your home) have very recently been changed again to force lenders into restructuring home loans. Don't want to be forced into bankruptcy -- Has anyone found REAL HELP???
I have put everything (which was considerable) into making huge monthly interest payments for the past three years and don't think I can deal with loosing my home of 15 years and/or living under the bridge! Best wishes for mental and fiscal health!!
If you had your home for 15 years, you should have equity, but you probably used it as a piggy bank and lived large for a while. Now you have to pay back the loans you took out. No sympathy here!!
daph

Ocilla, GA

|
Report Abuse
|
Judge it!
|
#20
May 14, 2009
 
taxpayer_voter,
you are rude.....
Deb

United States

|
Report Abuse
|
Judge it!
|
#21
Jul 2, 2009
 
daph wrote:
I paid a company called First Foreclosure solutions 550.00 to start a loan modification. I rec'd a bunch of paper work by fax to fill out and fax back. Today I'm to pay them the another 550.00 to complete their fee. I have this terrible feeling about it. I wasn't in foreclosure to begin with just had an adjustable rate mort for 5 years.
The reason I am not feeling right about it is:
I got the offer in my email
The person who is the contact man never uses a company name when I call him.
The toll free number on his email has never been answered.
He is in Colorado Springs and his "mediator" is in Florida.
I can barely get a phone call returned but they were quick to call about my second payment.
I have straight out as him if is he scamming me. I have 2 full names of the lead man and the mediator. I did a google on them and they both do exist. The company however I can't find any thing on.
My husband says be patient and let them help us. I pa.id first 1/2 2 and a half weeks ago. I was not in foreclosure but I am going too be before they help!
Any suggestions
We have tried to help this customer for over six months and nothing you do can make her happy. I have a mod approved for her and she still doesn't seem to be pleased. You can't please everyone.
torres family in oc

United States

|
Report Abuse
|
Judge it!
|
#22
Jan 5, 2010
 

Judged:

1

1

Wow that's unfortunate because MGK helped me save my home its true it took many months and hard work on my part to make arragements side by side with this company but ultimately my payments were negotiated to more than half what it used to be along with some debt forgiveness. my family is very thankful to MGK & ASSOCIATES i would and have recommend them to others.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

First Prev
of 2
Next Last
Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

6 Users are viewing the Foreclosures Forum right now

Search the Foreclosures Forum:
Title Updated Last By Comments
Blunt wants to criminalize mortgage fraud (Jan '08) Jul 25 Official Historian 3
The News On 6 Investigates: Renter Beware (Feb '09) Jul 22 ozzy911 40
NEAL v. KETCHUM Jul 16 Darrel 1
Storm damage hurt business, attorney says (Jul '13) Jul 11 jorgelopez 3
3 arrested in alleged housing scam (Oct '08) Jul 1 Victim 37
DuVal's Lee Hindin in debt - The Park Record (Nov '09) Jun '14 Mary 31
With no place to go (Apr '11) Jun '14 Petal Power 185
•••
•••