Mortgage and Loan Modification Scammers “Beware” Says Obama Administration

WASHINGTON - APRIL 06:  (L-R) Treasury Secreta...
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The Treasury Secretary, Tim Geithner and U.S. Attorney General, Eric Holder are getting tough on loan modification scams, or so they say. A new initiative was announced this week on the Feds desire to work with State law enforcement to shutdown predatory loan modification companies who prey on foreclosure victims.

The wake of all the publicity surrounding the Obama Plan called “Making Homes Affordable”, it appears many unscrupulous players are now creating websites and other print marketing materials with fraudulent claims to lure in those seeking foreclosure assistance.

Treasury Secretary, Tim Geithner said,

“American homeowners desperately need the relief this program offers, but the very last thing they need is to be taken advantage of as they try to hold on to their homes. This Administration is deeply committed not just to providing at-risk homeowners with assistance but also to cracking down on anyone who seeks to defraud them.”

The real problem it seems are the upfront fees loan modification companies (read scams) charge before any services are performed. Another possible fraudulent act is promising a loan modification is forthcoming. Many companies are using pseudo-government sounding names to allow the foreclosure victim to believe the company is part of the government or an “authorized’ participate in government assistance programs.

Attorney General Eric Holder said,

“The Department of Justice’s message is simple: if you discriminate against borrowers or prey on vulnerable homeowners with fraudulent mortgage schemes, we will find you, and we will punish you.”

The FTC got into the act as well with Jon Leibowitz, Chairman of the FTC saying,

“We’re enforcing the law against these scam artists who are deceiving consumers while they’re down; we’re putting others on notice that unless they change their ways, they’re next; and we’re working with other government agencies, non-profits, and mortgage servicers to reach out to our neighbors in distress with the details of how and where to get help.”

HUD Secretary Shaun Donovan added,

“We have families on the edge of foreclosure that are being offered things that are too good to be true, and we will take every measure we can to educate and protect consumers and homeowners, bring these scams to light, and work to prevent con artists from exploiting the housing crisis,”

To represent State involvement, Illinois Attorney General Lisa Madigan gave a statement saying,

“We have repeatedly found that these foreclosure rescue operations are swindling desperate homeowners out of money they can’t afford to lose,” said Attorney General Madigan. “Struggling homeowners need to know that free help is available. The 24 lawsuits I have filed prove foreclosure rescue operators don’t help. They don’t call your lender, they don’t modify your loan, and they don’t represent you in court if you’re in foreclosure. All they do is take your money. By combining our powers, state and federal authorities are sending a clear message to these mortgage rescue scammers: It is not a question of if we’ll come after you; it is only a question of when.”

You can read the entire press release all the above quotes were culled from it you like, just click here.

Folks, if you believe anybody can “guarantee” you a loan modification, you’re dangerously naive.

If you believe the governments efforts to save you from predatory people is more important than your own responsibility to protect yourself, you’re dangerously naive.

These crooked players are out in force and I have witnessed on my blog just how many folks loan mod scammers have ruined. But this effort by the Obama administration is a day late and a dollar short.

Know this: YOU must negotiate with your servicer or lender to get a loan modification and potentially save your home. There is no short-cut.

Do your research. Get educated on the process and you can start with a web search on your servicer, on how to write hardship letters, and even on Obama’s Make Homes Affordable plan which has loan modification pieces in it.

Be persistent and follow through. You can do it yourself.

Until next week…

About Author

Rob K. Blake, a 15 year veteran of the mortgage industry, is a renowned public speaker, author, and former radio talk show host. His blog,, is dedicated to educating mortgage consumers, mortgage providers, and investors about both mortgage and housing markets.


  1. Martin Andleman on

    Facts I’ve discovered after months of investigation into private loan modification companies, our government’s response to the foreclosure crisis, and banks.

    No one is or would ever defend fraudulent loan modification companies. They are pond scum, and should unquestionably go to jail. Sending them to Guantanamo would be fine by me.

    That being said, the legitimate loan modification companies are doing a MUCH better job helping homeowners keep their homes by negotiating with lenders in order to modify their payments so they become affordable for the homeowner. You heard that right… A MUCH BETTER JOB.

    Their only “crime,” according to Treasury Secretary Tim Geithner and countless others, is that they charge for their services. Mr. Geithner, you are an ass. What you’re doing to help distressed homeowners, as of today, we could put in a thimble.

    The government’s responsibility here is to regulate the loan modification industry to protect consumers. You know, punish the bad guys and leave the good guys to do their jobs, help homeowners who are in trouble, and earn a fair profit as a result. If that idea sounds familiar, it’s because that’s how EVERY single other business or industry is handled here in the U.S. of A.

    The government, obviously, can’t seem to figure out how to regulate the loan modification industry, so they are abdicating their responsibility by making the blanket statement about loan modification companies: “If you have to pay, walk away.”

    Paying isn’t the problem, people… it’s paying and not getting that’s a problem. Paying and getting… not so much.

    Just this very morning, Geithner and Attorney General Holder held a press conference in Washington on how the government will NOW start cracking down on fraudulent loan modification companies. It was political grandstanding at its finest.

    During the press conference, Geithner said: “These predatory scams callously rob Americans of their savings and potentially their homes. We will shut down fraudulent companies more quickly than before. We will target companies that otherwise would have gone unnoticed under the radar.”

    Well, thanks Tim. Should we applaud you for doing your job… finally?

    Holder then added his two cents… “If you discriminate against borrowers or prey on vulnerable homeowners with fraudulent mortgage schemes, we will find you, and we will punish you.”

    (In case you’re wondering what discrimination has to do with anything we’re talking about here, Holder’s the black guy, and new federal laws dictate that African Americans in government must use the word discrimination in at least 72% of their statements.)

    In the AP Business news story, written by Alan Zibel and Christopher Rugaber, that went out on the wire immediately following this morning’s press conference, it also says in reference to loan modification companies: “While some are legitimate, authorities say many are con artists.”

    Wow, “some,” and “many”? Gee whiz… you guys and your technical talk. Could you be more vague?

    Their article also states: “It’s difficult to gauge if even the legitimate consultants are more effective than nonprofit credit counselors who also work with lenders at no charge.”

    Is it “difficult”? Why would that be, I wonder? If that’s “difficult” for our government to gauge, they must be having a dickens of a time fixing the country’s banking institutions. Credit default swaps and complex derivatives must be absolutely giving them fits.

    Why don’t they just tell the truth? The reason it’s “difficult to gauge” the relative effectiveness of legitimate loan modification companies as related to the nonprofit credit counselors who offer to work at no charge, is… the non-profit ones haven’t done much if anything as yet. The only other reason it could be difficult to gauge is that absolutely no one in government has tried.

    Well, I’ve spent the last several months investigating the private sector’s loan modification companies and I’ve come to very different conclusions than Mr. Geithner, Mr. Holder and those in the media. Of course, I’m not just sitting in an office postulating as to what might be happening out there. I’m driving around in my car with a film crew, interviewing actual homeowners and loan modification company executives, recording their stories and filming while they attempt to call the government help-lines and the banks themselves.

    Before I get into the specific results of my investigation, I would think that common sense would dictate that legitimate private loan modification companies would do a much better job of helping troubled homeowners for at least two reasons:

    A. They are, for the most part, the only people actually helping consumers get their loans modified. That’s right, there is no government program in place as of today.

    B. They are mortgage experts being paid to represent a homeowner’s interests. That’s right, in general people paid to do a job do it better than government workers or volunteers. Go figure.

    Here are FIVE FACTS about private loan modification companies and why we need them to survive this government onslaught and media hyped witch-hunt.

    1. They are paid to represent the best interests of the homeowner – And no one else is.

    To give you a tangible example of why this is important, IndyMac Federal has just announced a new streamlined loan modification program available to homeowners, and they are now refusing to work with private loan modification companies as a result. Here’s what it says, word-for-word, in the first few paragraphs of IndyMac’s Website that describes their new streamlined program available to consumers:

    “The goal of this streamlined loan modification program is to achieve improved value for IndyMac Federal. IndyMac Federal will only make modification offers to borrowers where doing so will achieve an improved value for IndyMac Federal.”

    Now, I’m not complaining about the language. In fact, that’s probably what it should say. They’re being, in my mind, uncharacteristically forthcoming about what’s going on. They, IndyMac Federal, will be happy to negotiate with consumers directly in a streamlined manner, and consumers are to be on notice that they, IndyMac, will be negotiating in the bank’s best interests… with absolutely no regard for the homeowner’s best interests.

    Fair enough, but understanding that’s the situation, I’d prefer to have a knowledgeable expert watching out for my best interests, thank you very much. And I don’t mind one bit having to pay that expert for their time and expertise. Of course, that’s just me. Other people might choose to take a shot with a government help-line. It’s entirely up to them.

    Unless, of course, the government succeeds in putting all of the private loan modification companies out of business as a result of their misinformation campaign disguised as protecting the consumer from fraud. If they succeed, I suppose I’ll have to call the government help-line, or face the paid experts at IndyMac Federal on my own. And won’t I be happy about that… just wait until Timmy gets my holiday card next year.

    2. As of today, there is no government program available –

    This shouldn’t be something I have to write much about, and it’s certainly not something about which you have to take my word, or anybody else’s for that matter. How do I know that there’s no government program in place as of today? Because I called the government help-line myself and I also went in to speak with the nice folks at Well Fargo Bank. It takes some time, a couple of hours sitting on hold to be specific, but I encourage others to do the same.

    On February 19, 2009, ABC News, in an interview with FDIC Chair Sheila Bair, reported that:

    “The initial effects of President Obama’s massive housing rescue plan will be felt as early as next month, one of the administration’s top economic advisors predicted today.”

    What’s today? March 19th? No, it’s April 6, 2009. And there is no program in place. Period. Wells Fargo reports that they haven’t even received the contracts from the Treasury Department as of today. I’m sure once they get those contracts, they’ll just sign them without reading them and send them right back to Timmy at Treasury. Because that’s always how things work when there are contracts, banks, and the Treasury Department involved, right?

    After the contracting between the nation’s banks and Treasury is completed, then according to FDIC Chair Sheila Bair, speaking on Good Morning America, “it will take some time to screen candidates, verify their incomes, and provide financial counseling to some applicants.”

    I’m quite certain that it will, as Ms. Bair said, take some time. I sure hope my bank will wait before foreclosing on my home. I’m sure they will. After all, they were so nice when I took out my mortgage.

    3. The President’s housing rescue plan doesn’t help everyone who needs help – By Sheila Bair’s own admission, and President Obama’s too I might add, the Affordability and Stability Program will not help millions of homeowners at risk of losing their homes to foreclosure. According to Ms. Bair, again as quoted from her February 19, 2009 interview with ABC News:

    “Bair also said that the (program’s) huge expenditure won’t halt an avalanche of foreclosures, conceding that there are millions of homeowners that are now so far ‘underwater’ – their homes now worth less than their mortgages – that they will inevitably lose their homes.”

    Inevitably? Did Ms. Bair just say inevitably? Now there’s optimism for you. I guess she’s counting on the government putting the legitimate loan modification companies out of business PDQ… pretty darn quick, as my mother used to say.

    Okay… you heard her folks. According to FDIC Chair Sheila Bair, if you’re in trouble with your underwater mortgage, it’s inevitable that you’re going to lose your home to foreclosure. Better start packing. No reason to try a legitimate loan modification company who might be able to help. It’s inevitable, according to Ms. Bair, and she must know. She’s chairperson of the FDIC, after all. If she doesn’t know, who would? I mean, the FDIC saw this whole thing coming a mile away, and that’s why they stepped in to stop our entire economy from going down the drain, right? Whew… we sure dodged a bullet there… thanks Sheila!

    Sheila Bair also told ABC News that Obama’s plan will “at least help 3 million to 4 million of those borrowers in distress”. Bruce Marks, CEO of the Neighborhood Assistance Corporation of America, however, dismisses Bair’s claims. Marks told

    “She is absolutely wrong. It will have minimal impact. They have pulled from the sky the 4-5 million mortgages that will be affected. It’s just hype.”

    4. The President’s Affordability & Stability Program only modifies loans for five years – That’s right. President Obama’s plan, assuming you qualify for a modification, only modifies your adjustable rate loan into another adjustable rate loan, one that adjusts to the prevailing rates five years from now. If rates are high five years from now, well… I guess we’ll just see what happens then.

    The fact is that legitimate private loan modification firms are achieving significantly better results for homeowners. Routinely, these private sector firms get modifications that change adjustable rate loans into 30-year fixed rate mortgages. It’s not uncommon to see reductions in the principal amount owed by the homeowner.

    In one specific case I witnessed recently, the loan modification firm got the bank to agree to reduce a $4,000 a month payment on adjusting loan, to $800 a month for three years, and after that, the payment tops out at $1900 a month. I would have to believe that the President’s plan, or a consumer calling their bank directly is highly unlikely to achieve that result.

    5. What President Obama said about private loan modification companies IS WRONG – President Obama has said “if you have to pay, walk away” from loan modification companies. He was wrong to say that, and what he said is harming troubled homeowners in an attempt to protect others from scams. He needs to know what he’s done. His words will cause some homeowners to lose their homes unnecessarily. And I do not believe that was his intent.

    I have personally visited with several loan modification companies over the last month. I have interviewed their CEOs, visited with their customers, attended audits being conducted by government regulatory agencies, and spoken with bankers, none of whom would agree to be mentioned by name. All of the companies I’ve interviewed and visited are unquestionably helping troubled homeowners and none could be considered in any way “scams”. In fact, in my view, they are all critical components in any solution to the foreclosure crisis.

    One such company, Green Credit Law Center, was one of the early entrants into the loan modification business, modified more than 300 mortgages for troubled homeowners in March 2009, and they expect to modify 600 mortgages on behalf of consumers in April. And that’s a fact. Of course, they did charge a fee for their work, but since all of their customers that I spoke with personally didn’t mind paying that fee in the least, I might add, I’m thinking it should be okay.

    The government needs to regulate the loan modification industry in order to protect consumers from fraudulent operators, not wipe out the good with the bad. It occurs to me that there have been quite a few fraudulent investment scams out there over the years… but I don’t remember my president ever telling me not to pay Charles Schwab or Merrill Lynch their fees.

    With the camera running, I asked a loan modification expert at a law firm to contact a bank to check on a loan modification. He called one, and I won’t say which one, today anyway. The woman at the bank told him that he would have to get the borrower on the phone before she could talk about the loan modification in progress. He did. When all three were finally on the call, the first thing the woman from the bank said was: “You know… you don’t have to pay him. You can just call us directly.”

    I have to say that I have rarely been so shocked at anything in my life. And this woman was not a senior level bank executive, she was someone answering questions about loan modifications in progress. That means that what she said was the result of an institutionalized training program, she didn’t come up with that line herself. She was told to say it.

    “You don’t have to pay him”? How dare you say such a thing? You’re just saying that because you’d rather have a less experienced person with which to negotiate. You are not the person that should be giving advice to that borrower.

    The banks should be on notice… I’m calling you… every day… more than once… and I’m filming it, and recording it. I’m coming after you with everything I’ve got.

    In conclusion…

    President Obama was obviously told that consumers don’t need to use a private loan modification company. He said that homeowners could either call a government program or if they didn’t qualify for that program, they could contact their bank directly. Both statements, while true, are also wholly beside the point.

    Who would tell the President something like that? The banks, that’s who… who else?

    After spending months investigating the loan modification industry, I’ve come to understand that the banks do not want private loan modification companies helping consumers obtain loan modifications. Why? Because they’d much prefer to deal with homeowners who are not experts in mortgage terms, are distressed as a result of being at risk of losing their homes, and as a result are much easier to take advantage of, simple as that.

    Is that an indictment of the entire banking industry? Yes, let me be very clear… IT IS.

    Banks are debt collectors. That’s what they do. When a homeowner in distress calls a bank directly to ask about modifying the terms of their mortgage, they are asking the bank to write off some of the money the consumer rightfully owes that bank. Does anyone imagine that the banks will be terribly helpful in that situation? If you do, then you’ve never been late on your car payment or mortgage payment… because in those situations the bank is not your friend. Never have been, and never will be. They want their money, and as much of it as soon as possible is their clear goal.

    It has become obvious to me that both state and federal agencies have no idea what they’re doing when it comes to solving the foreclosure crisis. I’m not blaming them for not knowing, this crisis has emerged, deepened, and changed quickly. But to put legitimate loan modification companies out of business, something they are very close to accomplishing, will only make things worse for millions of Americans.

    Consider this… President Obama says having to pay makes a loan modification company a scam. Illinois Attorney General Lisa Madigan to told reporters at today’s press conference in Washington to “Stay away from anyone who says they will save your home in return for money up front.”

    And at the same time, California’s Department of Real Estate (“DRE”) has published an “Advance Fee Agreement,” and tells consumers to make sure that the company they hire to help them with their loan modification use that agreement, which was approved by the DRE. Unless the company is a law firm, in which case it’s okay to pay a fee in advance and the advance fee agreement doesn’t apply.

    Well, that all seems pretty clear, doesn’t it? The President says don’t pay. The State of California says pay, but only if a certain form is used… unless it’s a lawyer… or a Tuesday… and your license plate ends in an odd number… Oh my God.

    Homeowners need to watch out for these things, as far as I’m concerned:

    Scams – Check out the loan modification company before you pay them a nickel. Ask for references, check the Internet for complaints, visit their offices. And if you don’t feel good about the firm, don’t hire them. Look around, there are others out there… today, anyway.

    The President, along with state and federal agencies – Our government has failed us at every turn in this crisis. They clearly don’t know what they’re talking about when it comes to saving people from losing their homes, as evidenced by the fact that millions of Americans have already lost their homes to foreclosure and all forecasts point to millions more losing their homes over the next two years. Save yourself. Your government doesn’t even understand the problem. Your government hasn’t even gone to the trouble of talking with anyone who’s actually modified a mortgage.

    The administration has recently been funding numerous non-profits to assist troubled homeowners. ACORN, for example, just received $5.2 million from the Neighborhood Stabilization funds to provide some sort of foreclosure counseling. The President’s plan also offers to pay banks $4500 over five years for the loans they agree to modify, assuming borrowers make their payments, of course. I hope it works.

    However, I think it’s worth mentioning that when President Obama says that a loan modification shouldn’t cost you anything, he means “you,” not “us”. When a homeowner pays a legitimate loan modification company three grand to get their mortgage modified, it costs us quite a bit less… nothing, not to put too fine a point on it. And the bank that modifies the loan does so because they decided to do so. Not because the government is paying them to help fix the problem they helped to create.

    And I know it works, because I’ve seen it with my own two eyes… hundreds of times now.

    The Banks – Your bank is out for itself. They are not being honest when they tell the President that consumers can simply call them directly. It would be like the police telling you that you don’t need a lawyer. Whatever your bank tells you… check it out for yourself. Do not believe them at face value. The banks have proven themselves to be less than honest, and capable of anything. Beware the banker that says “trust me, we’re a bank.”

    I received an email from this afternoon. It read:

    If there is any lesson to be learned out there in the new wild west of loan modifications, it’s that homeowners should hire an experienced lawyer.

    I just interviewed someone who was a vice president level executive at several of the banks that we’ve all heard about. He was let go from his last vice presidency because he asked too many questions about what was going on. I believe what he’s told me. And none of it is good. I asked him about the ratings agencies that slapped triple A ratings on the mortgage backed securities and he said that everyone knew that the models weren’t taking the right risks into account. But no one raised the issue too loudly. No one stopped what was happening. And bonuses went higher and higher.

    He was at one of those banks when the FDIC started forcing them to modify mortgages. He said it was an incredible mess, that there were no standards. No one knew what they were doing. Nothing was consistent. He said that a friend who’s still at that bank says that things are going better today. That the bank has put a lot of effort and resources into their loan modification department. He agreed with what I said in this article about the banks being out for themselves and not for the homeowner. Frankly, his statements came as no surprise to me.

    Then he said something I won’t soon forget: “If they had put this much effort into loan modifications in the first place, we wouldn’t have had this problem to begin with.”

    And I hung up the phone and started to cry.

  2. Adam Holmwood, Esq on

    Mr. Andleman- it is so refreshing to hear someone who actually understands the nature of this problem articulate how ridiculous the government’s response to the loan modification industry really is. I am a Maryland attorney who has been hired by a loan modification company to negotiate on behalf of borrowers on several accounts, and I have seen firsthand the dual agency problem that the government is not only condoning, but mandating. You hit the nail on the head. The servicers are paid to represent the investors’ best interests. Period. This means that they cannot possibly be expected to render independent professional advice to borrowers. Period. Who will represent borrowers? HUD or your servicer? What a complete joke. What next, asking the IRS to advise you in how to maximize your tax return? Asking the seller’s agent to advise you at settlement if you are the buyer? Why not just eliminate all paid representatives? As if the cards were not stacked enough in favor of government and the banks to begin with. I must say that I was a huge supporter of this administration. I finally believed we had a regime that would take facts and logic into account, instead of ideologies and platitudes; however, the current response to the loan modification issue illustrates fundamental failures not only to improve the problem, but to at least understand it and prevent it from worsening. I don’t necessarily blame them – they are just entirely in over their heads. This problem cannot possibly be solved solely by the public sector. The government does not even realize the scope of the problem. In that sense, their response to loan modifications is probably more naive than intentional. What the government is attempting to do is to micromanage a complex and widespread problem by eliminating the private sector – implying that any “for-profit” business is somehow immoral or unethical. I can say from firsthand experience that this absolutely will not address the problem, and it will likely only make matters worse. Believe it or not, there are many reputable loan modifications that are delivering the valuable services for which they are paid. Mr. Andleman, I commend the work you are doing in combating the government’s irresponsible campaign of misinformation.

  3. Cindie Froshaug on

    Thank You, Thank You, Thank You so much for doing what your doing I hope you make lots of money on a documentary or book because you deserve it. It is incredible what these banks/lenders/servicers are doing and saying. Do they train the employees on how to handle loan modifications is there a training manual? There is a huge scandal inside these corporations. It is a street fight trying to get a modification that will ultimately do what needs to be done and that is to keep the borrower in the home with a payment they can afford. I have been wishing that one the undercover reporter shows would go inside these banks expose them for what is really going on. I also hope to see your work available to public soon. It would be very eye opening to alot people because what is being done in unbelievable even when you witness it first hand. Thank You again.

  4. Cindie and Adam… Thank you so much. I feel a little better every time I find others who know what’s really going on. The rest of the time I feel like the only guy left in the world in a Twilight Zone episode.

    Please come to my column… I am the feature columnist on, the mortgage industry’s leading watch-dog and news site, and I am writing the cover story for the May issue of The Niche Report… you’ll love the cartoon on the cover.

    Please come visit me on the Implodemeter… My column is called Mandelman Matters.

    Martin Andelman’s last blog post: Holder and Geithner LIED About Loan Modification Scams

  5. I stand to inherit my grandparent’s house from my mom’s passing.My uncle stole it years ago and borrowed against it, then he died. SOB. Long story short – I face losing the family house because of his greed. I can’t modify the thing because it’s not mine and I can’t qualify for it to be mine. So how can I modify something I can’t have? You don’t, I guess. I feel like he’s ripping me off again – for good this time.

  6. I also would like to say thank you.
    I work for a marketing arm of a law firm that does loan modifications. We have helped many homeowners in the Chicago area either by a loan modification or helping them sell their home, bk, etc. etc. The most difficult thing we come up against is “the scammers” and the blanket that Lisa Madigan has put on our industry. Unfortunately, they forgot that there are good guys out there. I have 1st hand seen these modifications being completed. I also have seen them explain to the homeowner that they may need to look at other options. Thank you for your work.
    Samantha O

  7. Loan modification is a joke. The servicers are not willing to modify your loan, they are not helping the consumers. To modify a loan for 5 years is not enough. I have been trying to get my loan modified since April 09 and I have called HOPE for advice and assistance with my modification and there is no hope anywhere.

  8. I recently applied for a Obama loan modification with my mortgage co. I sought them out. They did not seek me out concerning this program. I had never been late on my payments. I just saw no light at the end of the tunnel. However, This prosedue was a nightmare for me. First I guess they set you up with a trial period. Of course the payment they lead you to believe will be your forever payment. ended up being much higher. They say this trial will be for three months. However, After my second trial period payment. And receiving phone calls everyday from my mortgage company for one thing or another. They realized they had me signed up for their own personal loan modification program. And not the Obama. So they said they had to start the entire process all over again. So my trial period went back to the beginning. I might add, That the right hand never knew what the left hand was doing. They would ask me for documents. And after sending them. they would ask for them again. and again, and again. At times reps would call and not even know why they were calling. I remember saying to one. You dont even know why you are calling do you. And he laughed and said, Not really. I work nights. So these 8 AM phone calls became very harrassing. After 6 months of screwing around. I finally received my modification papers in the mail. On them it said I had three days to return them back. The loan payment amount went up $100.00. the starting date of the loan changed from Jan 1, 2010 to Dec 1, 2009. mind you, I got the papers the second week in Dec. So I called to complain. I was told that many people complained about the monthly payment. But they couldnt change that. They also said that The Dec payment was a mistake. And to just make my January payment as planned. Also reminding me that if I did not hurry and send the papers back. It will again prolong this. And that I was running out of time. So I did sign them. and sent them back. unfortunately for me, they called again this month and said as per my contract. I stilled owed Dec payment. And that my January payment was applied to Dec. I have had it with this company. I just do not know what to do about it. Who do you complain to about the shotty way they handled my Obama Loan Modification. I feel as though they got me good. What I thought was going to be a $374.00 a month payment ended up being $450.00 a month instead. Now they are trying to beat me out of an additional $450.00. And If I do not comply. I will not be eligible for the $1,000.00 a month incentive for not being late. What do I do??? Help

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