Save My Home USA Complaints & Reviews

Save My Home USAoverpaid

Hen it comes to government employees, there’s plenty of news about laid off social workers in florida, furloughed forest rangers in minnesota, and underpaid teachers everywhere else. Yet even during these hard times, there are thousands of government employees who still earn great, big salaries – many of them hundreds of thousands more than the $400, 000 obama pulls down each 2009, 347 texas state employees earned more than the president; 53 of them made more than $600, new york, 35 employees were paid over $400k last year. Since 2005, the number of federal employees earning $150, 000 plus has jumped tenfold: going from 12, 399 to 171, 689. Much of the increase has been in medicine. Doctors at veterans hospitals and prisons averaged $179, 500 in 2010, up from $111, 000 in 2005.


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See our slideshow here on 10 insanely overpaid government employees. We reported all their yearly earnings, which in addition to base salary, includes bonuses, overtime pay, and other pay. The “other pay” can be things like unused sick days — $594, 976 worth of them for one california employee – something private sector employees could only dream of. Oh, and did we mention all of them are men?
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  • Mi
    Missy2805 Oct 01, 2009

    I requested a refund in June 2009, still nothing. No phone call and no response to any of my emails. I am out $1995.00.

    0 Votes
  • Ro
    robert marsh Nov 30, 2009

    they said they can save my home from foreclosure.gave them a $2, 000.oo gaureenteed to save my home response sinc company is not doing anything either and have been requesting a REFUND since SEPT.2009

    0 Votes
  • Go
    Gogo55407_68 Apr 07, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I am out $2500.00. Put in a complaint to the US Attorney's office who was doing a class action suit, but have not heard anything and it's been a year.

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  • Ra
    randparso5 May 24, 2010

    they took use for 1500 and i have been trying to get it back for about a year the attorney generals office said they went to court but havent heard anything on a decision yet hopefully soon.

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  • Wy
    Wynokie Brooks May 13, 2012

    you are on the wrong website complaining about that, on this page you only complain about bad situations with companies, and scams.. Not how you feel about the govn't.

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Save My Home USArefund

Well I just wanted to see if this complain area was real. Save my home got me too for $1900. I am writting this off as a lessoned learned. I know that it is an expensive lesson and many americans wish they had the $1900.00 to toss out the window. But unitl our govenment starts taking our compaints serious I don't see anything changing. Good luck to all of you others on your future plans. Ps if anyone is suing please contact me I will join the fight.

  • ladyet2008 Feb 18, 2010

    This is Not a complaint, let me repeat, this is NOT a complaint, this is for people that need help and got theirselves into jams w/ company's that took money upfront w/o helping them with a solution for their home, please check out this company, JK-Liberators Delinquent Mortgage & Debt Relief Program, . They really helped me out when i was in a terrible jam AND i had little faith in them b/c i've been in 4 different loan mod programs, including Nationwide, and was ripped the hell off. BUT i prayed about it and decided to give it another try and i received really great results and i'm finally happy with the results. I highly recommend this company to anybody.

    So far I've recommended this company to a couple of my neighbors and they are happy too. I know that working w/ another company my be hard, especially for me, just pray and put a little more trust in this people. U can call these people and get to speak w/ somebody(a REAL person) almost all the time, and receive and update. most of the time u would get a call before u can call them. there are really good on communication. so yes that is a plus.

    If you would like to try them, the website is and remember **NO UPFROUNT FEES!!!**

    0 Votes

Save My Home USAhome loan modification

I filed with this company in end of april I was told because I have 2 houses and if I filed prior to may 1st they would do both for $3, 000 I paid and cannot seem to get anything done - they just keep passing the buck - changed company to l & m processing and still cannot get ahold of anyone... I have talked to steve ramadon, attorney, whom says since I paid so much money he would help me with a bankruptcy - however, I have to fill out numerous forms and mail/fax all to him - he is one east coast, who is to be here in ca with me... For court!!
Think I want my $ back also... Slp

Save My Home USAscam scam scam

This company is a major scam do not deal with them!!! They took the last of our savings to modify our home...$1995.00. Now we cannot get ahold of no-one phone #'s are constantly changing, contact names are always changing too!!! Does anyone know if there anyway to get our funds back??? Scam scam scam. We were dealing with the law office of norman lewin in california... They will all go to hell for taken advantage of innocent & hard working people in these hard economical times!!!

  • Ca
    Cairoil Jan 10, 2010

    Google search for Norman Lewin Law offices for their 3rd address in 8 months! SCAM is an understatement

    0 Votes

Save My Home USAscam-fraud

In april 2009 I contacted the michigan better business bureau who gave smhusa an a rating. I sent smhusa the required $1595 to negotiate with my mortgage company for a lower mortgage interest rate and monthly payments. I sent smhusa all my personal information and finances. As it stands now my mortgage payment was modified to $20 less per month than before. All those bogus testimonials! Bunch of crooks, brandi baldwin, amanda (I will find your last name) and the other people! They told me not to talk to my mortgage lender! Now there is no smhusa website, their telephones are all disconnected and can't reach anyone by email. I will send attorney general of michigan, mr mike cox, a formal compliant plus a complaint to the michigan better business bureau.

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Save My Home USAstole my money

This company is the biggest rip off I have ever experience... They took our money and said they could help save our home.. They never returned our phone calls and thru the process kept saying I never sent them all the info they needed to get this going, but I knew I had given all the paper they required. I have put in a complaint with the michigan attorney general and I have received a letter back from them. Anyone who has had a horrible expereince with this company can fill out a complaint on-line.. Use google and type in michigan attorney general and you can fill out a complaint on-line... Lets all get our money back and send these people to hell.

  • Ch
    charles yang May 29, 2010

    I think all homeowner got the same problem, their take ours money their tempting ours homeowner making us to believe them, why government ignore this matter not taking action against these people, we are working hard to support our home but the theft take away our money, i think michigan state General attorney must do very good job to save ours money and put these people in hell for the way their did to everyone, i paid them $ 2995 by June 8, 2009 to get their services, but i don't get nothing from them
    now my home gone to the bank, now who can taking action against these people if government ignore, may be god...

    0 Votes

Save My Home USAfraud

I paid save my home usa $3000 in january 2009. Now the phones are dead. They have nothing for me. I am contacting my attorney to sue both save my home usa and callie thompson - the initial case manager who told me how honest this company was.


  • So
    Soraya Smith Aug 26, 2009

    This company if there really is one is a BIG SCAM! They have just scanned me and my husband of $2500 stating that they would decrease our mortgage payments and decrease our credit card bills. Once they have taken our money, they no longer answer the calls, in fact their number is no longer in service nor their e-mails. I hope they rot in hell for what they've done to people in these hard times we're living in. You ###!

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  • Br
    Bridget Hankins Sep 01, 2009

    Just happened to me! $2300.00 later and nothing. Phones disconnected and emails will not go through.

    If I can help I will. I have heard this guy has been uncovered and people such as our selves are getting money back.

    I hope this is the case. I will post anything I learn about this.

    Hang in there.

    Denver, CO

    0 Votes
  • Ro
    Robin Thompson Oct 12, 2009

    Save My Home USA LOST my home! In March of 2009, I paid them $2500 for a loan modification which they guaranteed. I repeatedly faxed, emailed, and called with all info they requested and info I was receiving from the lender. I rarely got any response or follow up. On July 22 2009, Lukas Svacha emailed me (someone whom I’ve never worked with in this entire process) to let me know my home and been foreclosed and sold, he offered no help, no refund, and no guidance for the next step. In his email he stated that and offer from lender to save my home was denied by me. Which is untrue, I was never offered the option to pay a sum to avoid the foreclosure. I have never in my life dealt with a company with such horrible customer service and bad communication. They outright lied to me and I deserve my money back, they did NOT hold up to the contract!

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  • Ja
    James r3 Oct 13, 2009

    i agree. i have been working with them since nov. 2008. they screwed me big time. had to take the 1995.00 out of Roth IRA tha i had only started a few years ago and got penalized for it but it was the only place i could get the money. now i am out and pisse. if anyone knows how we can get this money back let me know.
    [email protected] i just wanted help but got robbed. i will never give any company money first again..

    0 Votes
  • Ca
    CallieT Nov 17, 2009

    Ron, I was shocked when I saw what you wrote about me here. You and I spoke about this on the phone and agreed we had both been scammed. When I originally started with Save My Home, I had checked them out thoroughly to make sure distressed homeowners were in the right hands. They did very well for sometime and then eventually started to mess up the employees pay. When that happened, I got out. Later on I checked to see what was going on with them and found they had been shut down. Probably because they got greedy and couldn't handle all the cases they were taking on. Who could have seen this coming in the future? Ron, I am sorry for what you are going through with Save My home, but I do not have anything to do with this. I was long gone before they went belly up. I refuse to send anyone anywhere except real Licensed Attorneys. I wish you the best of luck and hope you come out on top with your pending law suit against them. Also, for the record, I am not part of this lawsuit. The CEO and directors are being sued.

    Callie Thompson

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  • Ba
    Bailey 11 Nov 17, 2009

    Does anyone recognize the name Chad Buchanan or Justin and Jasen MaCallum

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  • Du
    durbin Dec 02, 2009

    who do we contact to sue save my home they cheated me and my family also i have five boys and cant spare the money i gave them

    0 Votes

Save My Home USAloan mondification / refund

I have been scamed by save my home usa. I have had many recorded via phone conversation with the people there like:bert amidon, chris titus, luke sevecka, jeff perkowski, mary frank, tierra and they are all theives. They all gave me the run around and gave me a guarantee that I would be helped and to this date I hear they shut down and filled their pockets with many clients cash. I have made many request in writing and via email and I also was guaranteed by chris titus that I would receive my full refund within 30 days. 90 days later and they have transferred all files to [protected] and they are also giving me the great run around. I am begin to wonder if they just changed there name to continue to scam people under another name.

Anyone out there know anything about this compaines please help bring them down and help from them stealing and more monies from people in need.

  • Ka
    kathleen80 Sep 05, 2009

    Sorry but you got scammed. SMH is lm processing and Franlin United. Chad Buchanan is the person who decides who gets a refund. He calls himself the Operating Manager. You can file online with the Michigan Attorney General to help get your money back. You also might want to try contacting SMH's in house attorney Andrew Capelli.

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  • Di
    DIANA KEMP Sep 09, 2009

    My name is Diana Kemp, I paid save my home USA $2000 to help with a loan modification, our home was foreclose on; and they said that it was in modification process. They were suppose to refund my money in full since they did not do what they said they would do. However, I have not gotten my money back and it's been three months now, and I haven't been able to reach anyone in their company. Can someone help me? THANKS!

    0 Votes
  • To
    Topgun51 Sep 10, 2009

    My husband and I have had the same unfortunate experience with Savemyhomeusa. We paid them $2, 000 to them with a money back guarantee. We are supporting our grandchildren and they assured us we were a hardship case. We took money from my husbands 40lk to pay this company. A woman named Natalie told me not to pay our mortgage that in was frozen until the motification was completed. Now they never contacted us. They also transferred our files to [email protected] What a joke!!!
    I have contacted the Michigan Attorney General as well as this company. So far I have heard nothing. How these people can sleep at night I do not know. Myself I cannot sleep worrying if my young grandchildren will have a home.

    0 Votes
  • Db
    dberickson Sep 26, 2009

    We also had the same issue, we paid 795.00 and they have not refunded my money, I was told we would receive our refund within 90 days although she said it normaly does not take that long, still nothing. I live in Wisconsin, anyone with any ideas would be appreciated . Seems like everyone has a different up front fee, seems strange, a company should have a set fee for these services, I stopped payment before they received the second half of payment, but still no refund.

    0 Votes
  • Lm
    Lmw212 Nov 02, 2009

    I also have been scammed by SAVE MY HOME USA. I contacted the Attorney General Via the internet and filed a complaint with them. I don't know if anyone has heard anything back yet, but, I just received a letter from the Mike Cox's office and there is action being taken against SAVE MY HOME USA at this time. I will quote what my letter said, hope it helps. I haven't gotten my refund back yet either, but this seems like a step in the right direction. Here is what they said in the letter. "We have already taken action against some Michaigan foreclosure assistance companies who have violated the law and we are attempting through these actions to obtain restitution for consumers." They also said " Information from citizens, such as yourself, is very helpful to our work in this area." So please, everyone go to the Attorney General of MI website and make sure to file a complaint. We need to get our money back. They preyed on innocent people that are already in such dyer straights and we need to team together and get these people. I have sent several e mails to LM Processing and even though the web address says they will respond within no more than 2 days, they never contact anyone. That seems to be a dead end. I wish you all all the best in getting your refund back. And I pray everyday that I will. Good Luck everyone!!

    0 Votes
  • Ka
    kathleen80 Dec 16, 2009

    Sorry everyone but it appears that Save My Home USA has filed for bankruptcy.

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  • De
    Detroit cares Apr 25, 2017
    This comment was posted by
    a verified customer
    Verified customer

    Chad Buchanan owns Detroit Barber Co in Ferndale Mi (formerly Detroit Grooming Barbershop) He's still just as greasy, sleazy and greedy. He's opening a 2nd location in Detroit with your money. It's quite successful.

    0 Votes

Save My Home USAtook my money and did nothing!

Save my home usa took $2300 for a loan modification to "save my home".. Yeah right! They were engaged initially and then I had to really push for progress over the past few months. I started this process in march of 09. My house is now in foreclosure and I am beside myself! What a thief this guy is!

If anyone out there has experienced this and is trying to get monies back etc.. I'd love to hear from you.

I hear this has gone federal... Does anyone know whats going on?? How do you get your money back on this type of thing?

I appreciate any feedback,
Desperate in denver

  • Ka
    kathleen80 Sep 05, 2009

    You can file an online complaint with the Michigan Attorney General. They have already been charged with 4 counts of foreclosure fraud by the AG. Be careful if you decide to use another loan mod company because the very same guys at SMH are now LM Processing and Franklin United.

    0 Votes
  • Da
    davejcbox Sep 15, 2009

    I live in Mass. Same thing happened to me. Out 2500. No replies, no nothing. I borrowed money from family members to pay for this. What am i supposed to tell them.I have 2 young children to care for, that 2500 put me in a very bad situation. Anyone that knows anything, please help. [email protected] Thanks

    0 Votes
  • He
    helptiffany Sep 30, 2009

    We hired to help save our home and apparently they are out of business because after two months of trying to contact them they haven't returned my phone calls and have all of my information. I am having to deal with Saxon MOrtgage all by myself again after 3 years of trying to get my loan modification done and still haven't accomplished it yet and now I am out $2260 to and my lose my home because of it!

    0 Votes
  • Ts
    tsatana Oct 11, 2009

    Back in June, I contacted a Mr. Paul Lawrence at the above noted company. I needed to start a loan modification application for my home in Reno, NV I was informed by Mr. Lawrence that nothing could be done until I paid $1295.00 to begin the process. I transferred the money from my account to begin the process for the loan modification. I contacted Mr. Lawrence in August and was told that they were in the process of negotiations with the Bank of America, since it was the company that now held my mortgage. Since then, I have been unable to locate of contact anyone at Save My Home USA. At the present time, the Bank of America is foreclosing on my home in Reno, NV.

    What are my recourses?

    Mrs. Tura Satana-Jurman

    0 Votes
  • To
    tony 9839 Oct 27, 2009

    we hired save my home usa in feb.2017 and they said they could help.they took 1995.00 from and talked to me two - three times a month and then they disapeared and now i am holding the bag with nothing, i called bbb to checkout before i started and they said it was a good co.if anyway to get money back please let me know...

    0 Votes
  • Ca
    carrie davis Nov 10, 2009

    I live in California and they did the same thing to me. They were suppost to reduce my payment and it actually went up, thats not what a modification is!!! What was the purpose of paying them 1595.00 for. Thay did nothing for me as well. Took our money. Still in foreclosure. Cant even get a hold of anyone. I'd like to know what I could do. [email protected] SCAMERS

    0 Votes
  • Ka
    kathleen80 Dec 16, 2009

    Unfortunately I just found out that they filed for bankruptcy.

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  • Db
    dbartulio Jan 24, 2012

    Wow...submit two forms on line and you open up the flood gates!

    What a choice I had to make! It's not like choosing the chocolate or strawberry ice cream...this is my house...who do you pick???

    The news says don't pay up front fees, then you try with your bank and they don't help or offer you garbage...if I can't afford my payment can I afford my payment plus arrears! HUD and HOPE...what a joke they are...they don't even call you back!

    After talking to at least 20 of the same people at different companies...that's right they were all the best, they all did a FORENSIC AUDIT, they all had attorneys, money back guarantees, blah blah blah!

    I finally spoke to Derrick Bartulio at SAVE MY HOME USA and wow was he different! First he spoke professionally and it didn't sound like he was trying to sell me a modification, it was more like he was informing me of how to make the best choice! He was like a breath of fresh air, he was consistent and said he couldn't promise me anything except that if he got me approved, he felt confident his company would put me in a better situation and save my home! I took a chance with them because of Derrick and even though I'm in an attorney state and it was $3000...I made a great choice...I saved my home and $560 a month! Not only was I down 5 months and owed over 12k that was put on the back of my loan, I will make that money back in 5 months! I suggest you give him a call and at least ask questions...then make your own choice! By the way he even gave me his cell number, which for some reason made me feel even more comfortable!

    Derrick 1 248 658 4394

    Thanks Derrick and SAVE MY HOME USA


    (derrick bartulio, derrick bartulio, derrick bartulio, derrick bartulio) Review

    0 Votes

Save My Home USAout of business

Save my home is a scam anyone posting anything otherwise is most likely chad himself. I have been in the finance business for 9 years there is not one single complaint ever against me. If you google save my home and or chad buchanan you find numerous complaints, the fact that he helped one person does not negate the fact he stole from the rest. Save my home is no longer in business go to the website, call the number, call chad!

Anyone who would take time to leave "positive" messages on a complaint message board obviously would be none other than the alleged rip of artist him self.

The worst part about this whole deal is we are talking about peoples homes, chad is the lowest of the low! Taking advantage of desperate people is unforgivable.

That said, he/save my home (ya right) took advantage of my 76 year old father whos house is going to auction after smh told him not to make his payments.

Now chad and the rest at save my home is no where to be found.

Im hoping someone finds him, someone who isnt 76 and perhaps is a mixed martial arts pro

  • Sl
    sly Aug 24, 2009

    Save My Home took me for 1200 dollars. I really enjoyed working with and talking to the people who worked for SMHUSA, and i feel they truely cared. They submitted the paper work to my mortgage lender and checked up on the progress of it to me regularley. When I tried to contect them due to the decision on the loan modification and an error made, they are not answering their phones or responding to emails. I am just learing that they have gone out of business and that the president of the company, Jason McCallum, is a fraud and i guess is a Chad Buchanan in real life. As soon as i found out i contacted my mortgage company and they are willing to work with me. I feel sorry for all the people out there that have lost their homes because of this jerk, and also to the folks that worked for this slime that tried to help us. Money back guarantee, right!

    0 Votes
  • In
    Indeed23 Aug 24, 2009

    This company (SMHUSA) is certainly not doing business to help anyone out but themselves. Not once did I have the underwriter contact and tell us what was happening. I did get calls about reducing our payment but to send in so much today or tomorrow type thing. ANd everything is ok. Just waiting on such and such. They probably don't even know who my lender is...

    Now we have a different company to deal with and no surprise they haven't answered any emails yet.


    0 Votes
  • Br
    Bridget Hankins Sep 01, 2009

    I am in the same boat! $2300.00 and 6 months find out they did nothing for me. I have in fact called my lender and am trying to work out getting current with them. I am in the first phase of foreclosure and am freaked out by it!

    I also know that this jerk did not pay people that worked for him. We are all in the same boat.

    What a jerk this guy is! If anyone knows how to get our money back ..If at all possible I would love the help. I appreciate any help at all.

    Denver, CO

    0 Votes
  • Go
    goodnewsforyou Sep 02, 2009

    HAMP – The Home Affordable Modification Program is NOT working. To date, only 235, 000 loans have been modified under this program, while funds have been set aside to modify up to 4 million loans. To find out if you technically qualify for a modification based on HAMP guidelines, click here to access the 5 question quiz on the government website.

    The banks have all kinds of excuses why borrowers do not qualify for this program. But the number 1 excuse banks are using is that the guidelines are too rigid. For instance, your mortgage payment cannot exceed 31% of your gross income. First of all, loans were not originally underwritten with this 31% number, so technically this makes almost all borrowers eligible for HAMP. But loan servicers are saying the formula is too narrow and does not take into account all the other debt borrowers have or are piling up during the economic slowdown. CitiMortgage, which services one out of every ten mortgages in the U.S., says the formula is the #1 reason why borrowers are being excluded from the program.

    Some banks are using the excuse that they do not actually own the loan, but only service it, so they cannot modify a loan they do not own. This is a tired excuse that most of the major news networks have already covered. Servicers CAN modify loans, regardless of this excuse they are throwing around.

    Some servicers are coming up with their own plans for modifying loans. From what I am hearing from my readers, and from other media reports, most of these “plans” are a joke, intended to benefit the lenders, not the borrowers. Here's an example of one such "plan. This lender, Carrington Mortgage is switching people out of fixed rate mortgages into variable rate mortgages, and while deferring delinquent payments, and adding them to the principal, (AND still reporting the borrower delinquent to the credit bureaus), they are putting this borrower at the mercy of the market. This is a stop gap measure at best, and another money maker for the lender in the long run.

    Other lenders are allowing borrowers to stay in their homes as renters, while following through on the foreclosure process. This sounds to me like the banks protecting only themselves, while borrowers are really taking it on the chin. Sure, you stay in your house, but the bank owns it, literally can throw you out at their whim. In the meantime, the bank does not have to put the house back on the market during this depressed valuation cycle, or leave it vacant, because they have a renter in there to maintain the property, and carry the debt.

    Still other lenders are putting people into modifications on a “trial basis.” While we don’t have details on these “trials, ” what we do know is that as long as the bank “modifies” the loan, the collect government incentives, unless the house is sold. This explains allowing the now non-owner of the house to remain in the property. Technically the house has not been sold? But it has – the bank owns it now, not the borrower.

    What is clear is that the guidelines for the HAMP program require drastic revision, or it will never work. I am not advocating that all delinquent borrowers should get a 2% modified rate for the life of the loan.
    Perhaps dropping the rate to what is truly affordable, given all a borrowers current debt, and current income, for a period of time, perhaps 2 years, and then gradually increasing the payments to a reasonable market level of 5% perhaps for the remainder of the loan, makes more sense than the “innovation” that banks are using now.

    In any event, the push is on to get banks to modify loans, so the government is again handing out money to banks to make this happen. The banks slated to receive the largest sums of money for this program right now are Countrywide (now owned by B of A), Chase, Wells Fargo, and Lehmans. I’m sorry, but aren’t most of these the very same banks that just reported hundreds of billions of dollars in profits last quarter? When do we stop rewarding banks for their failures and poor management, and start taking care of the people in this country?

    Today is September 1. Congress is back in session, and there is word that HAMP will be addressed again. Maybe they will come up with a plan that will actually work this time?

    CNBC reported this morning that banks are easing up on "short sale" approvals to try to assist homeowners facing foreclosures.

    0 Votes

Save My Home USAloan modification scam

Do not use this company! They are a scam. We started our process in 3/09 and luke, ursual, and cythia just gave us the run around. Apparently they don't expect you to still be in contact with your bank. Our loan is through band of america. We were initially denied, which we were never told. Then emails calling us names were accidentally forwarded to us, and then after talking wiht our bank we were told that we would have never been given a loan modification, which save my home new about. They lied to us just to drag the whole thing out and then refused to give us a full refund. I am writing this complaint so that other people will not go with this company.

  • Je
    JESSICA0001 Aug 18, 2009

    Homeowners fight for loan modifications from swamped mortgage servicers

    By Pamela Yip

    The Dallas Morning News (MCT)

    DALLAS - After losing his job in January, Stuart Miller has fought hard to keep his home out of foreclosure.

    At the end of May, the 55-year-old Plano, Texas, man began trying to get Wells Fargo & Co. to review his application for a loan modification.

    After making repeated calls, he finally was told that the company would place a three-month moratorium on his mortgage payments.

    "They're going to give me July, August and September, but I haven't paid June yet, " said Miller, a former trainer for a franchise company.

    He's among many struggling homeowners who say their attempts to get a loan modification have been met with either long waits to get their case reviewed, no response at all or a runaround.

    The Obama administration is leaning on mortgage servicers - the companies that collect and process mortgage payments - to step up modifications.

    A report released last week by the Treasury Department showed wide variations in how quickly mortgage companies are helping troubled homeowners avoid foreclosures.

    It also found the government's program is helping only a tiny fraction of struggling homeowners. As of July, only 9 percent of eligible borrowers had seen their mortgage payments reduced with modified loans, the report said.

    "Much more progress is needed, " Treasury Secretary Timothy Geithner and Shaun Donovan, secretary for Housing and Urban Development, wrote in a letter to mortgage companies. "There appears to be substantial variation among servicers in performance and borrower experience, as well as inconsistent results in converting trial modification offers into actual trial modifications."

    Mortgage servicers said they're committed to working out more loan modifications, but they're overwhelmed by the number of homeowners all wanting help at the same time.

    "It's a new ballgame, " said John Dalton, president of the Financial Services Roundtable's Housing Policy Council. "The delay is the fact that we've got 3 million people today who are 60 days past due on their loans. These servicers have not been accustomed to and were not geared up to deal with that many incoming calls with people having difficulty."

    The industry also is reinventing itself to add loan modifications to its traditional role as the collector and processor of mortgage payments, he said.

    "Loan modifications are a relatively new thing, " Dalton said.

    A loan modification is different from a traditional mortgage refinancing. When you refinance, you sign a new contract for a new loan. A loan modification involves changing the existing loan by lengthening its term or lowering the interest rate so that you can continue to afford your mortgage payment.

    Homeowners may be eligible for a loan modification if they have a mortgage payment greater than 31 percent of their monthly gross income and can document that a financial hardship has made the payment unaffordable.

    Miller, the Plano homeowner, hopes he will soon receive a confirmation letter from Wells Fargo with the details of his loan modification. He said the process he underwent to get to this point was frustrating.

    "My frustration is the time that it takes, " Miller said. "They have control of my financial life, and I can't talk to a decision-maker. They literally get to say whether I get to live in my house or my life gets completely turned upside-down, and I am literally at their mercy."

    Wells Fargo officials said they're reviewing his situation.

    "While the majority of our customers who request help are getting through to us and receiving the help they need, we know we've fallen short of our customer service goals in some cases, " Mike Heid, co-president of Wells Fargo Home Mortgage, said this week. "We've recently undertaken new steps that will soon enable us to qualify most borrowers (for a modification)."

    After I called a Wells Fargo spokesman for a response to Miller's situation, a company representative contacted him and told him that the financial institution would not report his delinquency to credit bureaus until his situation's resolved.

    "I feel better now that I have a name of a person to talk to, " Miller said.

    Bonnie Mathias of Dallas hopes for a similar outcome. She has applied for a loan modification with her servicer, CitiMortgage.

    "It's been a nightmare, " said Mathias, a customer service representative at AT&T Advertising Solutions.

    Her husband's company, which sold commercial exercise equipment, went out of business last September. He found another job, but his income is lower now.

    Mathias applied for a loan modification in February.

    "I'm having a difficult time getting my counselor from CitiMortgage to contact me, " said Mathias, a chapter leader at ACORN, the community organization that has been putting pressure on mortgage companies to help struggling homeowners. "This is my second counselor, and I have yet to talk to either one of them."

    Mathias received a letter last month from a Citi representative saying she had been trying to reach Mathias.

    "I have left four messages on her voice mail, " she said.

    Despite the difficulty, Mathias doesn't plan to give up and advises others to do the same.

    "Persistence absolutely is the key, " she said. "Do not give up."

    When you apply, have at the ready the necessary documents, such as tax returns, pay stubs and a letter describing why your mortgage is unaffordable, and what caused your income to fall or expenses to rise. Not having the necessary documents will gum up the process of getting a loan modification.

    And if anyone says you have to be behind on your mortgage payment to be eligible, don't believe them.

    Homeowners are eligible if they are "at risk of imminent default."

    Unfortunately, many responsible homeowners have been thrown into financial chaos by the sour economy and are now at risk of default.

    They're making desperate, good-faith attempts to save their homes. It behooves mortgage servicers to move much faster to help those people.


    - - The Obama administration's program to help troubled homeowners avoid foreclosure.

    - - A group of counselors, mortgage companies, investors and other mortgage market participants formed to help distressed homeowners. Call toll-free 1-888-995-4673 to reach credit counselors to who can help you with options.

    - ACORN Housing - Call 214-823-4580 to find a housing counselor for free help.

    SOURCE: Dallas Morning News research

    (c) 2009, The Dallas Morning News.

    Distributed by McClatchy-Tribune Information Services.

    -1 Votes
  • Be
    bestmodificaitoncompanies Aug 18, 2009

    Loan Modificaiton Fraud - SCAM - ATTORNEY GENERAL
    Complaint Rating: 0 % with 0 votes
    Company information:
    Madison Heights, Michigan
    United States

    Best Loan Modification Companies - How to Stop Foreclosure

    Countrywide consumers have many question right now concerning Loan Modification Companies and the legitimacy of loan modification programs. However, it has been proven that Loan Modifications are a reality and that it is possible to stop foreclosure proceedings through them.

    According to Hector Milla editor of the “Best Loan Modification Companies” website -- -- through a loan mod those facing a foreclose proceeding are able to;

    “… lower their payments, secondly they can get a lower interest rate and they can lower their overall principal, finally they are able to stop foreclosure immediately once they get the loan modified …

    But that is not all, the value of homes has decreased and it is very likely that the value of houses close to be foreclosed has been decreased too, then it is possible to save in taxes, a visit to the county tax assessor is highly suggested, see the home values in the area and get information about the way to lower taxes based on the decrease. It is very likely that, if a reduction in taxes is granted that value will be maintained for some time.

    H. Milla added “several people are trying to get their loan modified by themselves, that it is not recommendable if you don’t have some type of real estate background, the paper work can be tricky sometimes, trying to save some money can produce devastating effects in the future by misinterpreting the paperwork involved. The best and smart move is research in order to find a reputable company to handle your loan modification…”

    The number of people desperate to save their homes is enormous nowadays, so lenders are more than willing to help borrowers to resolve foreclosure problems, those that do not know how to stop foreclosure should get --once again-- help from one of the best debt consolidation companies in the market. A home is a dream, use all possible alternatives to keep that dream alive.


    Visit for further information, this website has listed the best 3 rated loan modification companies.

    1 Votes
  • Be
    bestmodificaitoncompanies Aug 18, 2009

    5 ways to stop foreclosure: How loan modification works

    The housing market is showing signs of recovering, but a lot of homeowners are still looking for solutions to devalued homes, or adjustable rate mortgages.

    If you are in trouble with your home, and think you have exhausted all your options, there still may be hope.

    According to Dawn Aguilar, owner and founder of The Foreclosure Group, there are new programs coming into play all the time.

    Aguilar created The Foreclosure Group in March of 2008, out of necessity.

    "As a Senior Loan Specialist for many years, I began getting calls from so many former clients asking me to help them with their loan modifications, " said Aguilar. "When the economic downturn began and the bottom fell out of the mortgage industry, I quickly understood that most homeowners have no idea how to get their loans modified. My business focus came about out of need, out of understanding and, most of all, out of the desire to help homeowners in a compassionate manner stay in the homes that they love."

    While each situation is different, and there is no one solution that works for everyone, here are some of Aguilar’s tips to dealing with a troubling housing situation.

    Five ways to stop foreclosure:

    1. Loan modification (Fannie Mae, Freddie Mac, traditional)

    2. Short sale: If your home is worth less than the amount you owe, Aguilar suggests you find out if the lender will cooperate on the short sale. Aguilar says this will affect your credit, but not as badly as foreclosure.

    3. Deed-in lieu of foreclosure: Aguilar says this is when you deed the house back to the lender. This process will affect credit the same as a foreclosure.

    4. Repayment plan (forbearance): This is where the lender will make arrangements to pay back missed payments before taking legal action.

    5. Sell your home

    Six criteria for loan modification:
    1. Job loss/unexpected unemployment

    2. Sudden illness or medical emergency

    3. Divorce/loss of second income

    4. Job demotion or promotion denials

    5. Inability to pay an adjustable interest rate/with no option to refinance

    6. Excessive debt obligations

    Five things to watch out for when hiring a loan modification company

    1. Guarantees, there are NO guarantees ever. Aguilar says beware of a loan modification officer who guarantees they can get you a home loan modification

    2. Offer to buy your house for cash at a price that is below market.

    3. Someone who tells you to make your house mortgage payment directly to them

    4. Advising you to transfer your property deed or title.

    5. Makes a plan to pay your mortgage and then they will lease it back to you.

    1 Votes
  • Ar
    art6257 May 29, 2010
    This comment was posted by
    a verified customer
    Verified customer

    There are also banks and brokers that defrauded loan customers. Have option arm loans audited for TILA or Truth In Lending Violations. These are consumer protection laws enacted by congress to protect consumers from preditory lenders!!!
    The courts are playing ball up till now with the banks but that will soon change as the public becomes more and more educated about tthe mechanics of banking preditory schemes that were being sold rampantly to loan customers in the last ten years.

    1 Votes

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