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 Contacting Customer about Loan Modification Scam		  New Topic  Reply to Topic
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LindaH

Florida
1754 Posts
Posted - 02/21/2010 :  08:01:09 AM  Show Profile  Reply with Quote
I agree with not contacting the borrower. However, I *would* send the docs to the AG - redacted to conceal the borrowers' identity ... think I'd also send a copy to the state bar since CA has clamped down so hard on them.

In the long run though it's very difficult to protect people from themselves, especially desperate people who really need help. They'll grasp at any straws, but they really should have done their homework.

MHO

Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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Doris_CO

Colorado
148 Posts
Posted - 02/21/2010 :  01:10:11 AM  Show Profile  Reply with Quote
You can not do anything. If you have not contacted the borrower about the appointment, I would not do so now. Although you want to "protect" the borrower from what you think may be a scam, it isn't your place to do so and might set you up for some legal trouble in the future.

I would also strongly suggest that you not send the actual docs to the state AG, since that borrower's personal information is on those docs and you would be violating her financial privacy.

What you should do is find out what your state's laws are for these type of companies. Some states have passed laws and some haven't. Once you find out what laws are on the books, then you could contact the AG and find out what is needed or who can report this company. It might be that only the borrower can report companies like this.

I commend you for wanting to help the borrower, but it would be inappropriate for you to advise or offer suggestions at this point.



Edited by - Doris_CO on 02/21/2010 01:13:54 AM
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Lisa T.

California
391 Posts
Posted - 02/20/2010 :  9:28:24 PM  Show Profile  Visit Lisa T.'s Homepage  Reply with Quote
http://www.llfirm.net/contact-american-financial.html

If this link is the same Liberty Law Firm you speak of, their operation is in California. As October 2009 it is now illegal in California for any company (to include law firms and their attorneys) to charge upfront fees for loan mods. http://www.sacbee.com/business/story/2249150.html

Liberty Law Firm advertises on the radio that they can get homeowners a loan mod on the spot while the client is sitting in their office chair and if they cannot, they won't charge the client a dime. Otherwise, if they are successful in getting a loan mod, they only charge $995. Wonder if this is the same company that contacted you.

Yes, turn the job back. Since this law firm is breaking the law, I certainly would call the client and inform them of that and ask if you can email her the link so she can read for herself that it is indeed against the law for a company to collect upfront monies when services have yet to be performed.

The California State Bar and the CA Department of Real Estate would probably be very interested in the documents you have from this law firm.

Hope your little cuddly bean is feeling better.
Edited by - Lisa T. on 02/20/2010 9:34:30 PM
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vewatson

South Carolina
5 Posts
Posted - 02/20/2010 :  6:08:48 PM  Show Profile  Reply with Quote
Liberty Law Firm contacted me Friday afternoon requesting me to perform a "signing that should only take about 10-15 minutes". I asked what type of signing this was and was told it was an Affidavit/simple signing and again was told it wouldn't take very long. I asked if it was in any way part of a loan closing (as I live in an attorney state) and was told it was nothing like that. I agreed and he emailed me the documents. It turns out it is a loan modification application requiring a $3,000 check.

First, I'd like to point out that I have been reading posts about these bogus loan modification companies for some time and I'm not even considering completing this job. I normally would not have accepted, or at least would have asked more questions, but I had a sick 4 month old I was trying to tend to and it was a momentary poor lapse of judgment.

My issue is that I feel I should somehow let the borrower know that this is a scam/that there should be no fee for a loan modification application. I know legally I can't advise her.
Can I call her and ask if she has an email address and, if so, send her the government link about loan modifications (makinghomeaffordable.gov)? If not, is there ANYTHING I can do?

I am going to send the documents I received to my state AG. I welcome any suggestions on how to help prevent this young woman from becoming another victim of these scams.

Ginny
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