Thank you:(

I so sorry theydid that 2 u.I wish there was a way to make them pay

Several years ago I saw an ad on the internet to refinance your home. The payments seemed to be getting bigger all the time so I put in my phone number and email address.


I believe the numbers went out to about five different finance companies. The started calling me non stop and hounding me to get a new loan.

All I really wanted at the time was some information and to help me understand the whole process. I was a single mother and the loan was in my name only.

My income was not very high and I was not sure what I would qualify for. At the time I did not know much about financing a house and thought you could trust people.

At this time in my life I know how very little I did know and how little you can trust people.

The man I finally started working with kept reassuring me how much better off I was going to be.

I told him my only reason to refinance was to lower my payment. He of course agreed with everything I said and told me that is what we would do.

I would talk to him and he would use phrases like "we are all so blessed in the United States" and stuff like "God is watching out for use."

I can see now that he was trying to make himself look trustworthy.

We would talk and a few days later he would call me back with some ways we could get this through.

He would ask the standard questions like how much I made. How much I could put down and things like that.

He ask how much I had in saving. I just laughed and told him I had nothing in my saving. I told him I did have money in my saving but I was holding it for someone else's safe keeping. He told me we could use that to up my financial outlook as long as the savings account was in my name.

I told him it was in my name but was not my money. He just said it would make me look more qualified for a loan.

He would talk about my family and kids to try to get a fix on me and take advantage of me. Like he really cared and was a friend.

Back to the reason I told him in the first place that I wanted to refinance. The reason was to LOWER my house payment.

He would keep proposing different ideas to me on getting more money to help pay off other bills or to help my kids with some issues they were dealing with.

I kept telling him that is not what I wanted. Then he started wearing me down with helping my kids pay off some things and having a little extra money. He said my payments would not be higher.

All the time we talked I thought we were talking about a fixed loan. He would give me all these figures and number that I really did not understand. Of course he said I should trust him because understanding how it all worked was his job and he was only there to help me make the best division.

He told me that after I got the loan my payment would be so much lower and after a couple of months he would call me and we could figure out ways to invest all the extra money I would have from the lower house payment.

After the whirlwind he had me on for several weeks a lady from his office called me and told me the papers were ready to be signed for the loan.

Somehow in the conversation with her I found out it was not a fixed loan and what they called an adjustable mortgage. I told her that is not what I wanted and I did not want the loan.

Well of course the man that had been working with me on the loan called as soon as I got home from work. He was aggressive and intimidating to me. I told him that was not the kind of loan I thought I was getting, I wanted a fixed loan.

He said my loan payment would be lower and we were going to invest all the money I would be saving and make that money work for me.

He reminded me how I would be helping my kids with the extra money he talked me into getting. That was like $35,000 more then I originally ask for and originally did not want.

He said I could sign the papers and I would have three days to change my mind. I agreed to sigh them and he set up a notary to met me at the snack bar at a nearby grocery store at like 8:30 at night. I think that was a Thursday night.

I was really sick to my stomach about the whole thing and felt like I had really been taken which I had as I can see now.

After talking to other people and having them look at mortgage loan papers I signed I noticed that they even said that the papers were signed like in their office which was in another state then where I did sign them.

I hope the information helps.I wish I would have known this stuff a long time ago.Now I am stuck renting & my credit is no good anymore.

Now it makess perfect sense why lender woudl not help me.Lender kept telling me the only way they could help is I was struggling.I asked the person on the phone at my lender how I can I prove I am struggling.She said the only way they would know is if I starting being late or missing payments.So allthey want to do is put you into a bad loan where u only pay interest forever.Then 1 day they change your payment to where you cant aford it and then they wait for you to struggle & miss payments so they can collect insurance money and then forclose on you anwyays.

I read all of these articles.How are lenders able to get away with this stuf. The broker that got me into my current loan has vanished & I have been trying to get help for a long time. Now I know why lenders don't help.

her is more information from the same article. I can't believe what lenders

My lender has changed several times. Why does this happen?
There are several reasons why your loan may have been sold or transferred. It is highly possible that your loan contains substantial & illegal violations. The best way for the original lender to get rid of fraud is to sell the loan as fast as possible so the new lender becomes responsible for the fraud. For this primary reason, loans get sold very quickly from one lender or servicer to the other in an attempt by lenders to hide from fraud.

The second reason is that your loan was likely designed to sell as a mortgage backed security rather than a normal loan, which a lender holds onto. When a lender has a long-term loan they want the borrower to pay back, they take the time to make sure the borrower has the credit and finances to pay the loan. When a lender has a long-term plan of selling the loan as a mortgage backed security, they could care less if you can ever pay the loan because they do not make their money in the long run, they make their money by selling the loan at a higher price to another lender.

Knowing they are performing fraud, the big lenders worked together to devise a private system to bypass the county recording laws and processes that were established to collect fees from the lenders to transfer the sale of the property and also to clearly document who legally owns the loan. This private system that was created by the lenders is called Mortgage Electronic Registration System or “MERS” for short. By going around the recording laws with the counties, the lenders can work together to hide the true owner of the loan and save themselves billions of dollars in recording fees. Wells Fargo, as an example, is currently the largest residential loan servicer in the US. They are “assigned to” (collecting payments on) nearly 12 million residential mortgages. When researchers went through the county recording databases, they could only find 500,000 mortgages assigned to Wells Fargo. Simply put, the other 11,500,000 residential mortgages could not be found on public records. This process is purely a means to hide fraud. If lenders are willing to do this on a mass scale, is it likely that a person calling in to their lender is going to get truthful information?

When the loan gets sold or transferred as a mortgage backed security, the borrower is almost never able to actually communicate with the owner of the loan and is left to deal with a servicer who is nothing more than a bill collector. Servicing companies make a tremendous amount of profit acting as bill collectors.

Won’t my lender and the courts deny the case because I DID sign the loan documents?
This is a common misconception. Yes, technically you did sign the loan documents. However, the documents you signed were engineered to mislead you. Our firm can syntax the documents and prove the documents were purposely engineered to mislead with false and misleading statements. Borrowers, at the time of signing, had no one present to answer their questions the majority of the time. Typically, notaries are usually the only party at signings, who by law cannot answer questions about the documents you were signing. Notaries get their business from mortgage companies, brokers, loan officers etc. Notaries’ income increases as they sign more loan documents. The more documents signed creates future business opportunity.

Brokers and notaries often perfectly prepared a 200-page set of documents with perfect “Sign Here” tabs. Notaries are often in a hurry pressuring borrowers to sign without the opportunity for full understanding. The notary would often show up at a borrower’s home or place of work for the “convenience” of the borrower. Notaries may perform signing at the borrower’s home preventing them from asking the broker questions. Notaries often force borrowers to sign quickly with the threat of losing a loan term or the loan altogether. The broker often asks the borrower to sign the documents to “lock in the loan and rates”. The broker then promises to fix any problems and answer all questions later.

Brokers employed forgery and document tampering tactics at the time of the mortgage boom. Brokers would often leave out certain pages of documents, and then forge signatures when they received the documents back. The brokers bet the average American would never realize documents were missing. Brokers would often put key documents at the bottom of the stack, hoping the borrower will blindly sign the loan documents.

A comparison is as follows. Just because you sign the repair order and agree to the repairs made on the engine of your car does not mean you understand what was done. In this comparison, a mechanic may say they made certain repairs but since you may not understand the mechanics of a vehicle you have to trust what they say is accurate. A mechanic can mislead you if they choose and so can a mortgage broker.

Borrowers should be able to trust their broker. The broker in return must authenticate their words in writing. Brokers have a fiduciary responsibility to protect the borrower from potential harm. Furthermore, all loans must comply with Federal guidelines. The broker is in charge of explaining objectively the guidelines in relation to the loan.

The loan document package is required to contain a “Notice of 3 Day Right to Cancel”. In many cases homeowners were not given copies of their loan documents at signing to further review. In most cases the documents were either never given to the homeowner or were purposely given after the “3 Day Right To Cancel” period had expired.

OK my son cpied the arcticle.Hope it helps.

I already tried getting help from my lender but they will not help me!
Lenders can and often do employ the same predatory and deceptive practices in a loan modification as they do in a loan. Loan modifications can result in a worse situation in the long run. A lender’s goal is to keep you busy with confusing paperwork. Lenders typically place borrowers in a trial plan requiring 6 months to one year of on-time payments. Most borrowers never qualify after the trial plan. Lenders are masters at playing games with borrowers.

Understand the servicer you make your mortgage payments to each month is only a servicer and does not own the loan. In most cases the loan is securitized. This simply means the loan is packaged with thousands of other loans and sold in a bundle as an investment owned by shareholders. With this structure, it becomes nearly impossible for a homeowner to determine who really owns the loan. In most cases the bundle of loans has been sold many times.

For example, when you think BofA is the one that owns your loan you are likely incorrect. BofA is likely only the servicer who is getting paid by the shareholders. BofA, in essence, becomes a bill collector and gets paid and rewarded to ensure they collect as much money from you as possible. Since the servicer does not own the loan they do not have the authority to give you a loan modification. Typically the investors/shareholders will authorize less than 2% of the loans within the bundle to receive any sort of loan modification assistance. Since BofA is a servicer and gets paid and rewarded to collect as much of your money as possible, they develop systems that appear to offer loan modification assistance through the process of applications, guidelines etc.. These smoke and mirror systems appear to be legitimate with it’s own set of departments and agents. When a homeowner’s application or documentation is lost or their file is transferred time and again to different agents, this is all part of the system. This process allows homeowners to falsely believe they are “in the modification process” when in fact the process they are in is specifically engineered to delay any sort of relief and gain the maximum amount of money from the homeowner during the endless process.

For the less than 2% that actually get any sort of loan modification, the fact they received any assistance had nothing to do with their qualification. Similar to a lottery, their name was more or less randomly selected out of hat and they were lucky to be one of the 2%.

Lenders have insurance on the mortgages just as you would have insurance on your car. If the loan defaults and the home goes into foreclosure, the insurance company covers the loss so the lender does not lose anything at all. Knowing this, it becomes apparent why a borrower never gets help. The servicer gets paid to keep you paying and in some cases tells borrowers to become late to get help. By becoming late, the servicer can threaten foreclosure even more to scare homeowners into making every effort to get caught up. While the borrower is sacrificing every dime they make to get current and avoid foreclosure, you have another department that is more than glad to ensure the home gets foreclosed so the lender can get their insurance money. The lender wins either way and the more money they can collect from the borrower is just an added bonus.

Very few borrowers understand the lender they pay each month is a debt collector just like paying a car payment or a credit card payment. When a borrower calls their lender to get an update on their loan modification, you will end up talking to a debt collector. Debt collectors do not get paid to modify your loan. Debt collectors get paid by their performance of getting you to pay them. If a borrower misses their scheduled date of payment on the mortgage, most lenders will route your calls to a separate debt collection department that becomes more aggressive in their tactics to get your money.

To get a clear picture of what is really going on, imagine a boiler room full of cubicles filled with temporary employees who get paid only when they get you to pay. These rooms will typically have a huge whiteboard, which serves as a daily competition board to push the debt collectors. These debt collectors are paid on a performance-based sliding scale. The more they get you to pay and the sooner they get you to pay, the more that individual will get paid.

no problem. I have a son as well and he is always able to fix anything wrong wth my computer.

Very sorry.I am not very good at computer stuff. I ll ask my son to do it when he gets home from school. I know he can figure it out becuuse he is on computer all the time.

I cant read the article.do you have any other way of making it bigger? I need any advice I can get.

Sorry article did not upload.Hpefully this time.

Ihad the same issues with my lenders. I never got anywhare and i kept getting pushed all over the place.I enentually just walked away.Read this article i found.It explains why the lender dont help.Totla crooks!!!!

On July 12 2007 I got a loan from Bank of America. I was working as a mechanic at a car dealership. I was making abut 42,000.

The loan officer was a friend of a friend and everyone told me he was honest.

I was told by the loan office that my income was more than sufficient to get the loan and that we had to do the loan right away to lock in the rate.

I told him that I only wanted a fixed rate loan because I wanted to pay my house off & I wanted a payment I could count on.

It was about 9:00pm on a saturday & I had a knock on the door and it was a mobile notary at my door to have me sign the loan docs.

I had no idea she was even coming over. She was in a big rush. SHe kept telling me we had to get the docs signed right away becasee the rates were changing on Monday.

I told her I had qustions & I wanted to talk to my broker becuase I did not underanad all the documents. She said she coudl not answer any questions because she just was the notary & then she said the broker told her that he would answer any questions on Monday but I had to get it signed to lock in the rate.

Like an idiot I went ahead & signed the loan docs because I thought I was going to loose this great locked in rate.

When I got my first mortgage payment I saw different options. I called my broker and asked him what this was all about and he said that in order to get me the loan he had to put me in a pickapayment loan which was the best loan for me.

I explained that I was promised I would be put in a fixed rate loan but he kept saying, that I would not qualify so he wanted to help me to get teh loan I could get now.

He then told me that I could refinance in a few months once the market changed.

Well when I went to call him back a few months later, the market did change. he was not even working there and the office was closed. I called his cell phone and got no answer.

Since that time I have been trying to get my loan fixed & the bank just sends me applications after applications which I spend a good portion of my time filling out.

After filing out all the applicaitons and giving them all the proof I wait for weeks if not months only to be told I do not qualify.

One time I did not qualify becauase I made too much money.

The next time I did not qualify because I had to many debts.

The next time I did not qualify because I had too little income.

At one point I think I findally got to a peson who was goign to help me and it looked I was going to get approved. Then I get a letter in the mail saying my loan was sold. So all the work I did meant nothing at all.

I started the same process with the new company Ocwen and went through the same applicaiton process over and over.

I heard Obama was coming out with programs to help and I tried calling every governmetn agency I could find but nothing ever helped.

After about 8 months my loan was sold again to nationstar. I am now in the process of trying to get help with them but no luck so far.

I get so mad that these big lenders did this to me. I can barely make my payments and they put me into a loan that has gotten to the point I can't afford it. I stopped doing a lot of things I liked to do so I can keep my home. I had to sell my motorcyle one month to make ends meet.

I hear all these big lenders got bailout money but I don't see anyone getting in trouble. I watched the movie "Inside Job" and that only made me more mad that these people are allowed to get away with what they do.

Sorry for ranting but if anyone has gotten any sort of help, let me know. I am getting older & I can't keep fighting this forever. Half the time I feel I should just walk away like it seems most evreryone else does

Has anyone been able to get Bank of America to reduce principal on a bad loan. I have been trying for 2 years.

I received the same letter from TAFCR telling me I may take legal action which could result in a significant reduction of my mortgage. How exciting I would finally be able to sell this place and move on BUT it sounded too good to be true. A simple Google search led me to this website. I won't waste a minute of my day calling Leyton Ward.

Thank you.

On 6/18/14 I received a letter from this company claiming that they could help me reduction or possibly eliminate my home mortgage,I called the number (866) 451-6018 and was told to get a copy of my Deed Of Trust to them which I. Accidentally my Deed of Trust and my Home Equity Line of Credit were both sent.
Within 5 days I was emailed,and told that my mortgage lender could be approached for a reduction or elimination of my mortgage as they had committed a fraud against me. I was happy! So, So Happy!
I was told that I would have to upfront fees of over $3,000.00 for each mortgage before they could proceed. I had told the assistant of Leyton Ward, my case manager, that if ANY Upfront fees were needed that I would not participate.
I then googled TAFCR and quickly learned that this company was just a scam.
I emailed Leyton Ward and I told him how despicable this company was and he emailed me back that I was UNEDUCATED,
IMMATURE and had IMPROPERLY RESEARCHED.
Please stop this company from contacting any other people who might believe that they are honest and are actually going to help,
they are out to collect thousands of dollars and then skip out and financially devastate people who are desperate financially by giving them false hope, this is so cruel and wrong.
Another red flag was that their letter to me did not have a return address on it!
Irene Pusztai-Hajdu
(323) 654-2816

a company called the Advocacy fro Consumer Rights in AZ contacted me and said they can do an audit and have my principal balance reduced. They ask for no money upfront but in the docs sent to me said a fee of $5000 for attorneys will be charged

the website is www.tafcr.org

look at the photo at the bottom building - seems very shabby and unprofessional

any complaints against them?

[email protected]

press release from CPAC (a legal service group somewhat similar to the service I represent) http://www.marketwatch.com/story/homeowner-rejected-for-free-loan-modification-wins-250000-principal-reduction-after-hiring-cpac-de-to-sue-for-bank-fraud-and-lender-abuse-2012-03-06 On 02/09/2012, CPAC (DE) secured a settlement that Mr. Carillo wasn't expecting. His $577, 272.00 mortgage that had a variable payment of $4, 516 was permanently lowered down to $1, 481.51 at 2% for the life of the loan. As an added bonus, his final Loan Balance will only be $287, 150.01 -- a Permanent Principal Balance Reduction of $ 249, 522.31. >> loan mod and principal reductions happen when competent attorneys represent homeowners -- help IS available

You gotta be frickin kiddin me!!! anyone that gets involved in this is going in the wrong direction as the FBI and others are watching these operations very closley and will be coming down hard on anyone involved. If you are stupid enouggh to get involved in this feel freee to do so and eventually you will pay the price if it all collapses and belive me it will. THER IS NO SUCH THING AS PRINCIPAL REDUCTION AND MODIFICATION unless each borrower deals directly with the prospective lender.

WELL FINALLY----GOOD NEWS!!!
For all of those affected by the loser's at the Guardian Group who scammed thousands of people of millions of dollars. The time has finally come to pay for their dasterdly deeds. On monday February 27th Luis Belevan one of the principal owners of this scam operation was sentenced in federal court to 5 yrs in prison effective immediately. Next up to be sentenced is the scam king of all scam artist Mr Bryan Prehoda that told more BS stories than anyone and hopefully he will receive the same when his sentencing comes up on March 12th. Both of these lowlifes were ordered to pay approx 2.75 million in restitution to the victims of this company. It remains to be seen how much of that actually is recovered and returned to those that paid them the fee they charged.
Hopefully this will finally bring some closure to all those that were ripped off by these two worthless pieces of shit!!!

I have been following the loan mod - principal reduction programs and scams since mid 2009 and have just recently found a provider that is doing things properly. They have a recognized non-profit division providing counseling AND a loan modification via attorney program with NO upfront fee or cost until the lender has agreed to a modification acceptable to the homeowners. After test marketing thoroughly, they have launched nationally in January and because I have a web presence in the "principal reduction" keyword searchable arena, I was contacted and will be a registered agent soon. The parent company is in the INC 500 and there is no doubt as their legitimacy. Anyone interested as a client or representative may contact Bruce Lee Inman and The Inman Team, Inc for information.