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Mix viewCalifornia Mortgage Modification- Avoid Loan Scam!
posted by realty2009
14 Oct ’09, 2:29 pm
The California mortgage crisis has spawned a new breed of opportunists. Loan Modification scammers are arising in this state like never before! In fact, the California Attorney General has announced the arrests of two of the biggest predators in the state.
Mary Alice Yraceburu, and Marianne Curtis are the names of the two schemers, who have been accused of defrauding hundreds of people out of tens of thousands of dollars. Have you done business with them? If so, you have most likely been one of their victims.
These two heartless people defrauded people by Marketing a Loan Modification or "mortgage rescue" program that was supposed to help keep people in their homes. These fraudsters purposely went after desperate people who simply wanted to avoid foreclosure.
The scam worked liked this, Yraceburu and Curtis operated a company called Foreclosure Freedom, which sent out thousands of letters to home owners across the state that claimed to have a service where people could lower their mortgage payments via a loan modification.
When struggling home owners would contact the company, they were told that they could get their mortgages reduced to an affordable amount. But this would only happen if they would let Foreclosure Freedom negotiate directly with the home owners lender. In order to get the process started, the home owner would have to come up with an upfront fee of thousands of dollars, which would be used to "process" the loan mod.
Many times the home owners were instructed to stop making their mortgage payments in order to pay this "processing fee". Neither woman had any prior experience in finance or in negotiating. This lack of ethics, and disgusting behaviour has led to dozens of people losing their homes to foreclosure, and many more will soon have the same fate.
Both womens assets were seized including over $10,00 in bank accounts. Yraceburu and Curtis may face decades in prison if convicted. This may be the most clear sign yet for people in foreclosure! LEARN HOW TO DO YOUR OWN LOAN MODIFICATIONS! IT'S NOT HARD. LEARN MORE ABOUT THE PROCESS AT http://www.californialoanmodification4free.com
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- California Mortgage Modification- Avoid Loan Scam! - realty2009, 14 Oct ’09, 2:29 pm
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