Peoples First Financialfraud

1 Review updated:

This company is definently a scam. We were contacted by James (ext. 216) in August '08. He promised that if we paid PFF 2495.00 that he could guarantee that Homecomings Financial ( mortgage company ) would settle on a 3 - 6% Fixed rate. We sent a money order to PFF and since then, have been chasing them down for details and callbacks. James also instructed us not to talk to, or make any more mortgage payments to HF. Last month (Nov.) we talked to Marcell (ext.145) and Trevor (ext.500) and both said that James should not have promised those numbers! ( which means he lied ) We had authorization forms signed and notorized sent to PFF which were never returned or forwarded to HF to be processed so they could assign a mitigator to our case. We were asked in mid-Nov to update our bank statements and P&L which we did. Talked to HF on several occasions (they call everyday) and asked about the authorization from PFF to which they replied "we do not accept fax authorizations". So PFF never mailed the proper paperwork to HF to take the process to the next level. Today, 12/17/08 after leaving another message for Marcell (ext.145) got a call back from Leslie (unknown ext.) who stated she had been assigned our file. She said that PFF was still waiting on certain documentation from us before they could move forward. I told her that as per my last conversation with Marcell that they did not need any more paperwork from us and we were just waiting for HF to assign an agent to the case. In the same conversation with Marcell he passed the call to Trevor who for 30 minutes tried to sell me on the idea of declaring bankruptcy and that they could get me cash to move out and could put off foreclosure for up to six months so "you can live rent free". This is bad business and not to mention bad ethics. I am not, and have no desire to dodge my payments. We are just trying to get a more resonable interest rate. (Currently 9% and rising monthly) So today, after demanding a refund Leslie calls back and tells me that HF had actually come to an agreement of 7.6% ( not the promised 3-6%) and would be sending a new loan agreement via FedEx. I told her this was unacceptable and not what we paid for and demanded a refund. Leslie said she had contacts at HF that she would call and see what she could do as well as personally walking over to the refund dept. and requesting that we get our money back. I am days away from blowing the whistle to every television station and online media outlet that I can about PFF bad business pratices and fraudulent sales techniques. Not to mention my good friend the D.A. for Catawba county and the Attorney General of N.C.. All my hope rests with Leslie being able to not only get my money refunded but working out a deal with HF that is in line with what was promised to begin with. ...just got off the phone with PFF and somebody I've never spoken to who informed me that we will not be getting a refund because they did get us a loan mod.(7.9%) regardless of what we were told in August by James (ext. 216). Basically... screw me for not reading every bit of the contract, even though James said don't worry about those terms because we will without a doubt be able to get you a new interest rate of 3-6% and it will only take up to 60 days. Apparently the new loan is in the mail ( again ) from HF and PFF reccomends I take the deal even though it's not what they promised. They are liars. End of Story. Shame on me for buying what they were selling. Which was a huge pile of B.S. I'm out 2495.00 and will now forclose on a house that is worth 50, 000 less than what the loan is for. Ain't America great!!

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  • Pa
      Dec 31, 2008

    Words from a Very Outspoken and Opinionated California Litigation Attorney (like there’s any other kind)

    Here in California, our Department of Real Estate website (dub dub dub dot dre dot gov) lists the companies that have DRE "permission" to modify loans... add to this list any licensed California attorney, and that is where you should begin your due diligence search when you seek help in California. Other states probably have similar laws, so check with your own state DRE and state bar.

    My law firm has been getting more and more calls recently from homeowners that were victims of predatory lenders who put them into an unaffordable loan and now fell into the hands of those same people who sold the toxic loans but profess to be saviors... DON’T BE A VICTIM TWICE! What’s that they say, “Fool me once, shame on you, but fool me twice, and I’ll sue your butt!”

    Do your homework and THOROUGHLY investigate any firm before hiring them to save your biggest asset and the place you call “home.” Scammers are popping up like dandelions on a freshly mowed lawn in April. They advertise on the Internet, freeway billboards, radio, television, and print media everywhere, not to mention spamming your email box with those third-world widows needing someone to receive three million dollars for them. Make no mistake, in many cases, these “loan modification experts” are the exact same loan officers and mortgage brokers who fleeced homeowners the first time around. After losing their jobs with the crash of the mortgage industry, they have found a new way to make ill-gotten profits from hard-working homeowners through loan modifications.

    In California, with very few exceptions (and attorneys are one exception… no coincidence there… attorneys make the laws), it is against the law for anyone to take money up front for helping a homeowner who is in default. Don’t trust a company that begins its relationship with you by breaking the law.


    Hire an attorney – and not just any attorney either - one with experience in mortgage law, not just one with real estate law experience but one with experience in both FEDERAL and STATE litigation against mortgage companies, one who doesn’t also do family law, criminal law, admiralty law, and immigration law as well, one who limits the practice to mortgage law (or at least a great majority of it), one who has the experienced staff, training, and know how to take on the big lenders and their top notch lawyers (lenders have attorneys – and darn good ones – check out their counsel on the web – big names top schools, shouldn’t you have a lawyer too?).

    We are not talking about a refund on your broken television here, we are talking about hundreds of thousands of dollars and your HOME – if you don’t think this is the time to hire a highly educated and experienced professional instead of a weekend schooled, almost out of work, broker slash loan officer slash “expensive water in a wine bottle with alleged magical curative powers” salesperson, I don’t know what would make you take things seriously.

    Of course, this is one obnoxious lawyer's totally biased opinion, but one based on many many distressing calls to my office every day. And, yes, my firm loves taking cases against loan modification companies who have violated laws. This field is quickly becoming one of the fastest growing sections for our mortgage law firm.

    - Paul J. Molinaro, Esq.

    -1 Votes
  • Ki
      Jan 16, 2009

    Paul thank you for posting this information. I have every intentions of hiring an attorney after January 23. I figured I would give them one last attempt to return my money which I'm not holding my breath for.

    No matter what complaint board you visit on the web there are many many similiar complaints about Peoples First Financial from individuals across the cross. It's criminal!

    With so many individuals being scammed, couldn't this be taken on as a civil suit by an attorney to represent all?

    Thank you

    -1 Votes
  • Pa
      Jan 17, 2009

    In CA, if the loan mod company took money from a borrower in default, there was a violation of state law. That statue provides for penalties of up to THREE times the payment for the loan modification (even if the loan mod was successful). There are enough damages in each suit for them to be brought individually, and there are many different loan mod companies to sue, not one big one, so class actions are not the way my firm would go on these.
    - Paul

    -1 Votes
  • Ly
      Jan 27, 2009

    I too was taken by Peoples First Financial. Their comeback is research and analysis which we all know is a lie. I took them to small claims court and they didn't even bother to show. I won by default and was awarded 3 times the amount. Now, knowing they didn't want to refund the original 2500.00, I have no faith that they will just pay the judgement. So, getting the judgement was easy, the collecting is the hard part. Any suggestions would be helpful. I am still in my home thanks to a non-profit agency. They had my modification done in a little over two months and PFF in 6 months nothing, my home even had an auction date and time. So, I wish all of you the best and hope you find some way to keep your homes. And please, take these people to court for your money. In essence, you (as well as I) were robbed.

    0 Votes
  • Sc
      Feb 23, 2009

    I just received an email from a martin [protected]@ [protected]@people He assures me of great help...thank you so very much to all of you for taking the time and posting all of this very
    valuable important information!!!

    -1 Votes
  • Hb
      Apr 07, 2009

    People first has been giving me the runaround now since September 2008. I even received a collection notification from U.S bank on my second, which i was told would be included in my loan modification.. I called PFF about this and they told me this is a great thing because now we can seddle for cents on the doller! what kind of crap is that, that is real bad business. I need help from someone who knows about this so i can sue them. I know that i am going to report them to in side edition! ASAP

    -1 Votes
  • Ya
      Apr 09, 2009

    misery loves company. If it wasn't for complaining and pointing the finger at everyone else besides doesn't seem like any of you would have anything to do. just out of curiosty...who put you in these loans and how many of these same people were jumping at the chance to take you out of them? There needs to be a blog page that tells the other side of all of these deceptively lame stories.

    +1 Votes
  • Ma
      May 22, 2009


    Please contact Peoples First Financial directly with accurate and detailed information so a resolution can be reached.

    Posting under an "alias" will not allow those that could assist you to take appropriate actions.

    +1 Votes

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