NY Attorney general sues Loan Mod Scam Artist

Attorney General Andrew M. Cuomo recently posted on his blog ,that he is taking stringent actions against AMERIMOD and all its sister companies.

The companies promise that they will negotiate with the consumers’ banks to lower mortgage interest rates, lock in fixed rates, get late fees and past due payments forgiven, and even reduce principal balances.The company targets homeowners facing foreclosure by claiming that it can save their homes, but often fails to provide the services promised.

Many  distressed homeowners in NY had complained that "such foreclosure prevention companies charge them upfront fees or have them sign some papers by promising to wonders."Most homeowners the AG's team spoke to were homeowners facing terrible financial situations.After they had been contacted by Amerimod , 98% of them were in more debt and much worse conditions.

So if you or any of your friends or relatives need a loan modification ,be wary of such scamsters. Be aware that not always ,foreclosure rescue leads to loan modification.