Common Loan Modification Scams on the Internet
"ATTORNEY BACKED"
LOAN MODIFICATION COMPANIES
Did You Know?
- Most companies that claim to be "Attorney backed", "Attorney based," "Attorney Networked" or "Attorney Affiliated" are simply using a lawyer's license to get around the laws and rules your state has put in place to protect you.
- In the vast majority of cases the "Attorney" will have nothing to do with the process of your loan modification.
- The "Attorney" has simply rented out his license to an unqualified and unlicensed company or individual to hide behind.
- Many of these types of companies have already been shut down by the Attorney Generals of several states. In most cases any loan modification contracts held by those companies were not completed or refunded.
- The largest cases of loan modification fraud have involved companies that claimed to be "Attorney backed", "Attorney networked" or "Attorney affiliated."
Information Brokering
Did You Know?
- 80% or more of the Web sites offering loan modification help are nothing more than information gathering sites.
- The employees of these sites DO NOT perform loan modifications. They simply gather your information and sell it as many times as they can. The owners of these sites make tons of money selling your information.
- Your name, address, and phone number will be sold up to 5 times within the first 48 hours of supplying your information to one of these sites.
- It will be virtually impossible to stop them from selling your information to whomever, and whenever they want.
- The end result — constant unwanted calls from phone solicitors.
More Loan Modification Scams...
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