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Loan Modification of America / Poor business practice

1 Phoenix, AZ, United States Review updated:

This company will do nothing for you, they have a bunch of people who work there that have no idea what is going on, the company manager will not return phone calls.
All they want is your money, they don't care if you lose you home.
Beware of thier sales schemes, they don't deliver what they promise.9ae6a

Ti
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Comments

  • Jo
      11th of Mar, 2009
    +2 Votes

    I strongly disagree with who ever made this ridicules complain. Loan Modification of America has helped me to modify my loan. They took my rate from 6.75% to 1 % fixed for 5 years, and my payment dropped over $1, 200 a month. They have provided me with excellent service and results. I have recommended all my friends and family who need help with their mortgages. They have the most experienced staff and management. I strongly recommend them to any one who needs help with their loans, also they have a local office you could visit and have one on one free consultation

  • St
      22nd of May, 2009
    +2 Votes

    I disagree with the complaint against Loans Modified America. I have have very good experience with this company. They have stayed in constant communication with me and have returned all my phone calls. They are very knowledgable and have a temendous team working for me

  • Sa
      27th of May, 2009
    -4 Votes

    Unprofessional company from the beginning making promises they can't fulfill. Communication was poor from the beginning. No e-mail or phone call update...I had to call in and when I asked what they were doing they responded with a generic, "We submitted your paperwork and are waiting to hear back". I stopped counting how many times this happened. Staff is incompetent. My rep told me to contact my lender to authorize them to deal with LMOA but when I talked to the owner of LMOA (b/c nothing was getting done) he said if I contacted my lender in any way it could jeopardize my case. Finally, my lender absolutely doesn't deal with third parties so LMOA told me I would have to conduct the whole process on my own and that they would be there to coach me through it. Do not sign that non-refundable form, they will still get you on it if you dispute the payment with your credit card (simple wanting to fulfill svcs disregards the fact that LMOA doesn't fulfill svcs - if your lender won't talk to them). Call your lender and ask to speak with their Loss Mitigation dept to see if you qualify for a loan mod. Don't trust these con-artists. LMOA rarely does principal reductions, just refinancings, which is what you could get on your own. I bet the people who posted these positive comments are employees of LMOA. Do not trust these scammers.

  • Mi
      2nd of Aug, 2009
    -1 Votes

    Tuesday, July 21, 2009

    Foreclosure Scams
    Arizona accuses Loan Modifications of America of running a foreclosure rescue scam. The state also sued its owners, Kardakh Natto and John Saro, in Maricopa County Court.

    http://everythingforeclosed.com/va/va-farm-foreclosure.php

  • Mi
      20th of Aug, 2009
    -1 Votes

    Of course these people tell you what you want to hear and then drop you like a 'Hot' potatoe when you hand over your money. Did not get our Mortgage modified to say the least, said they negotiated with our mortgage co.. YEA Right!! after all was said and done..our mortgage co. stop negotiating with them further right after they took our$$$$$ then said they made a deal..which was the same deal that our mortgage company negotiated with us to begin with. So the bottom line is these people find out how far you have gotten with your negotiation with your mortgage company..then ask for your money to 99.9% guarentee that they can help modify your mortg. only to find out it is the same damn deal that your mortg. co. offered to begin with. So leason learned is negotiate with your mortgage co. your darn self and save yourself money by NOT!! bringing in a third party of crooks.
    Signed Mad as HELL in Phoenix.

  • Ru
      20th of Aug, 2009
    +2 Votes

    Loan Modification of America and it's owners John Saro & Kardakh Natto along with their employees are very honest and due exactly what they tell you they will do. I hired them 7 months ago and paid them over $3k to modify my home, I was facing foreclosure and 6 months behind on my mortgage. When I hired them I knew what I was doing. Loan Modification of America and its people didn't put me in the financial situation I was in I did that to me. I think they are a victim of a very stupid process created by the AG's office and the media. After 7 months they completed my modification and I got more than I ever expected or more than they ever promised, they were able to reduce my principal amount by $42, 000 and took my interest rate from 7.95% down to 2.75% for the first 5 years and to lock in at 5% for 30years. Everyone who is complaining about them is the real scam. First of all they didn't put you in your financial problem, and everyone who hires them knows deep down inside they aren't a scam, if they were they wouldn't be in business. A SCAM IS WHEN SOMEONE OR SOME COMPANY TAKES YOUR MONEY AND SKIPS TOWN, Loan Modification of America is still in business and helping hundreds of people save their home, you people who complain about them, ask yourself how they scammed you. You hired them to help you, you put yourself in this mess not Loan Modification of America, I've referred 6 people to them and all of them are 100% satisfied with their service and the 2 people they couldn't help they refunded their money back to them. I've talked to one of their clients who were in foreclosure when he came to Loan Modification of America and hired them to help him, unfortunately it was too late and he lost his home. He paid Loan Modification of America $3k for their services. The owners of the company John Saro & Kardakh Natto refunded the client his money back got him and his family a place to live so they wouldn't be on the streets, paid for the movers to move them into a temporary place, then the owners waited for his house to go into auction by the bank and bid $11k more than the asking price up to $80, 000 and bought his home back and now are in the process of moving the client and his family back into their home for half the price he owned it before. They've been working with the bank to purchase his home for months and they did last month. All of you people who complain about this company are just people who are very hateful people. Look in the mirror and realize who put you in the mess your in. I believe in KARMA. GOD BLESS LOAN MODIFICATION OF AMERICA AND IT'S PEOPLE.

  • Ak
      12th of Sep, 2009
    -2 Votes

    to the last comment posted. what if you were NOT in a finiacial bind, or behind on ANYTHING before contacting LMOA? and now after hiring LMOA you are not only diliquint you are in forecloser. WHO you going to blame now?Look, we were not behind, not struggling on payments at all. We were only trying to be proactive. We knew in the near furture we would be taking care of our midicaly ill daughter, and we didn't want it to be so finicialy tight, that we would be struggling. So we thought we would do a loan modification and with the reference from a friend we went to LMOA. We have lived in our home for nearly 20 years.We have impeckable credit and are not, nor never have been diliquent on payment of anykind to any one.Hard to believe in this day and time, but we worked very hard for a very long time to be and stay in good standings.Once speaking with LMOA, and them knowing we were not behind and what are intentions were, they said they could absolutly help us. We paid 3k ans turned in all our paperwork as requested. What was supposed to be an easy transition and only take 3 months, quickly turned into a nightmare for me and my family of 4.We started with one rep only to be turned over to another one just one month into the process.We had to supply the same personaly information AGAIN...then one wekk later AGAIN..then one month later AGAIN. This turned into several mo nths of just repeativley turning in bank stubs, tax returns ect. All we were told every time was that our lender was requesting this information be "updated"...after much frustration, we went into the office and demanded to a three way phone call on speaker with LMOA, ourselves and our lender. FINALY, we thought, somethings going to be done. They took all our information (the modification package) over the phone and set us on a "good faith" payment plan. Because for this ENTIRE time LMOA ADVISED us to NOT make anymore payment...so at this point now we WERE behind..we were doing what was advised for us to do in order to get a modification...Long story short...we are still no furhter into the process, we still get the same repsonses from them...and NOW our home is up for auction in less then two months! and our credit has been ruined.We took all this information back to LMOA, demanded our money back. Instead of granting our money back, they again put us on the phone with the lender, and tell us we still have time to do this...ya right! now we are exspected to STILL sit and wait, meanwhile our house is on the line...now what do we do? We now our in the position of trying to decide to clean out our savings to ssave our home and move on...or continue to trust them...of course our smartest move would be to back out...LMOA has done NOTHING for us except MAKE us deliquent, LOOSE our home, and ruin our credit. LMOA along with many other agancies are nothing but scams, fraud, rip offs...MY ADVICE...if you are in trouble..work directly with your lender...think about it. What can anyone else do with your lender that you cant?

  • Ho
      30th of Sep, 2009
    0 Votes
    Loan Modifications of America/loan modifications - Does not perform service
    Loan Modifications of America
    Scottsdale
    Arizona
    United States
    loanmodificationsofamerica.com

    Loan Modifications of America is a dishonest loan modification company! Watch out Ross Miljenovich, he ios a loan specialist there. This company is a scam! They take struggling homeowners money and don't do the loan modification and keep the money for months and months. Please contact us if you have been ripped off by this company to in order to file a class action suit to get our money back and put them out of business.

  • Ro
      30th of Sep, 2009
    -2 Votes

    I don't know who this company is LMOA, but there is some confusion between this company owned by John Saro & Kardakh Natto and Loan Modifications of America, LLC in Scottsdale, AZ 85260 (602)427-5852 or (866)354-6637 Owned by Denise Sims. Let it be know this is not the same company, and we have no affiliation. Just for the record We are the only Loan Modification of America, LLC in Arizona. So make sure that you are complaining about the right company. This company is not located in Arizona. This is the website of what I believe is what you are all complaining about
    www.loanmodofamerica.com/default.aspx

    This is our website: www.loanmodificationsofamericanow.com or lmoanow.com

    Be clear on who you are complaining about
    WE ARE A SECURED MODIFICATION COMPANY. WE USE A THIRD PARTY ESCROW COMPANY TO COLLECT OUR FEES FROM HOME OWNER (SAFE HARBOR FUNDING). WE PROTECT OUR CLIENTS UP FRONT FEES FOR OUR SERVICES WITH THIS COMPANY. THE FEES WE COLLECT FOR OUR SERVICES ARE NOT EVEN WRITTEN TO US. THIS IS THE WAY MODIFICATIONS SHOULD BE DONE.
    REMEMBER, THERE ARE NO GUARANTEES THAT ANY LOAN MODIFICATION COMPANY CAN MODIFY YOUR LOAN. WE CAN ONLY RECOMMEND TO THE SERVICER PER GUIDELINES OF WHERE THE CLIENT NEEDS TO BE PER FINANCIAL DOCUMENTS THAT CLIENT HAS TO SUPPORT THEIR FRONT END DEBT RATIOS.
    YOU HAVE OUR WEB ADDRESS, AND YOU CAN CALL TO VERIFY ANYTHING YOU WOULD LIKE BY CALLING NUMBER ON WEBSITE. YOU CAN CALL ME DIRECT ON MY CELL PHONE @ 602-859-9450

  • Ne
      16th of Oct, 2009
    -2 Votes

    There will be more to come...be careful who you scam.

  • Re
      3rd of Dec, 2009
    +2 Votes

    Loan Modification is a very legitimate, very viable service IF (and BIG IF) done by skilled, experienced banking professionals .. People who actually understand the mortgage banking industry & how it works ...

    It's unfortunate that America's crisis brings out the worse versus our best but...when there's money to be made, the rip off artists come out don't they ...

    Of course no one can or should "guarantee / promise" absolutely results, and shame on those who do as you absolutely know that's a bold faced lie ..

    Modification is all about BUSINESS ..Not "magic wands" or "Law Centers" ...Who has the kind of money required to take on the bank's attorney's in court? Not many ...Don't fall for this garbage -

    The banks don't want your home but whatever is to be worked out to save it must make sound financial sense for homeowner & lender ..PERIOD! The banks aren't "intimidated" by lawyers or lawsuits blah blah blah ...Accordingly, what good is an alleged attorney not licensed to practice in your State & hundreds / thousands of miles away from where your home is?

    America...Use your heads! You're in trouble but you're NOT stupid!! If it sounds to good to be true, IT IS! - Period!

    It DOES NOT cost thousands of dollars to hire REAL / CREDENTIALED modification professionals ..

    Again America...use your common sense and trust your instincts!

    To all you scam artists out there...STOP! What in the H*** is WRONG with you???
    How do you sleep at night knowing you're a liar, cheat and thief and that your dishonest actions will cost a family their home??

    Go back to selling used cars or whatever it was before this happened ...This is NOT an industry for sales people, amateurs, wanna be "legal professionals"

    Simply stated, if you don't know whate you're doing and / or can't PROVE your skills, get the hell off our field!

  • Ne
      4th of Dec, 2009
    -2 Votes

    It's time for the next step, it's time to look into the past...more to come

  • Wi
      27th of Jan, 2010
    -2 Votes

    Unfortunately, we too were victimized by LMOA.
    It took seven months to attain what is virtually a five year adjustable rate mortgage with lower interest rates until year five at which time the loan will be back to its original interest rate.
    We went directly to their office in Chandler, Az. and dealt face to face with their representative. We were given a list of documents to give to their negotiator (implication of a law firm) to start the modification process.
    We were told to expect about 90 days for the procedure to be completed. It took almost seven months. We made call after call and had to press to get return calls which usually ended up with "lender needs more documents". The original agent disappeared and we were handed over from one representative to another with always the same excuse.
    The initial deal was to be 3.32% fixed over 30 years...the lender's name and ID are available to that effect.
    In the process, we were instructed to contact the lender on several occasions as LMOA did not act with due diligence. They shut down their Chandler office which was not much more than a few computers with telemarketing type folks on phones.
    We had to deal directly with the lender 75% of the time to get answers because the LMOA reps were either out to lunch, on another line and were very slow in returning messages left on voice mails.
    After the Chandler office closed and we were calling LMOA, the answering party answered with some credit assistance title.
    In other words, we had paid up front with cash and were mostly left on our own to deal with the lender with virtually little help from LMOA.
    Our position is that a class action suit should be brought against LMOA, Kardkakh & John Saro et al.

  • Nv
      8th of Feb, 2010
    -2 Votes

    Maybe IRS should do a FULL audit on these guys, starting from there past, I would say go back 20 years. Have the state review ther previous business and also the one's they are going to be operating soon. Also are the US citizens? More to come...

  • Id
      3rd of Mar, 2010
    -2 Votes

    Anyone know whom I can contact to report on of these owners for other scams in the state of AZ, NV, and IL. ? It's time the truth to be told and everything come to light. It's been alot of research that should not go to waste.

  • To
      19th of Mar, 2010
    +1 Votes

    fools

  • To
      19th of Mar, 2010
    +1 Votes

    fools you all are fools

  • 09
      31st of Mar, 2010
    -2 Votes

    Tony 111111 you know who the fool is. The one who is in court, the one who who has lost all respect. The one who is going to be on TV for AZ Business SCAMS and then some. Time is getting near. The biggest suprise will be saved till the end of the year... Anyone know how to verify if there US Citizens?

  • Tr
      20th of May, 2010
    +2 Votes

    All of these negative comments are nothing but B.S - If this company was a scam, it would be closed by now. Do you ever think about it ?? All complaints to the BBB are resolved, becuase the people complaining had no basis to thier complaints.
    They have not been convicted of any wrong doing. There is a compaint from the A.G's office, and that's due to people likes these complaining - A.G's office Does Not look at facts, they file a complaint based on people's reports. But at the end, they find out there is nothing wrong, and each complaint was baseless.
    THESE ARE NOT REAL COMPLAINTS, THESE ARE PERSONAL ATTACKES ON THESE PEOPLE. If these were real complaints, this company would've been closed and persecuted by now. But THAT IS NOT THE CASE.

    Also, there are two other companies with similar names, one in California, and another one if AZ. So, please check your facts before posting complaints.

  • Tr
      21st of May, 2010
    +1 Votes

    TO ALL THE PEOPLE WHO ARE COMPLAINING. LOAN MODIFICATION OF AMERICA HAVE MODIFIED OVER 300 PEOPLE, AND HAVE REFUNDED MORE THAN $200, 000 FOR PEOPLE WHO COULD NOT MODIFY. NOW FOR THOSE OF YOU WHO HAVE A LEGITIMATE COMPLAIN DO SOMETHING ABOUT IT RATHER THAN CRY LIKE A BABY.
    I HAVE ONE QUESTION FOR ALL OF YOU. ARE YOU GOING TO COMPLAIN AGAINST THE BANK THAT PUT YOU IN THIS SITUATION OR YOU PUT YOURSELF IN THIS SITUATION, AND YOU WANT LOAN MODIFICATION OF AMERICA TO DO MIRACLES FOR YOU. ALL OF YOU COMPLAINING HERE ARE HIDING BEHIND FALSE SCREEN NAME. BE A REAL MAN AND PUT YOUR NAME ON THE SCREEN. AS OF TODAY LOAN MODIFICATION OF AMERICA STILL IN BUSINESS AND OPERATING IN SAME LOCATION.
    IF THEY WERE A SCAM THEY WOULD HAVE MOVED A LONG TIME AGO. ALL I CAN SAY
    TO ALL OF YOU IS GOD BLESS YOU. YOU CAN LIE TO ALL OF US BUT YOU HAVE TO FACE GOD AND ANSWER TO HIM ABOUT YOUR ACTIONS.

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