LOAN MODIFICATIONS ARE AS ILLEGAL AS ALL OF THE SUBRIME LOANS

The Loan Modification Brain Washing by the media, banks and goverment towards the American Homeowner is just as Illegal as all these subrime loans that were given out the past decade or so. Big Bank is trying to scam homeowners once again, cover their tracks and prolong the foreclosure process untill it is to their advantage to foreclose.

What they DO NOT TELL you is that loan modifications do not justify the fact that they gave out an illegal loan to begin with. All the so called loan modification companies and experts that are out there to quote "Help The Homeowner" and get you a modify payment, are paid by the bank to do so. The banks want you to go through that avenue, they want you to think you are being helped. That's how they cover the bigger picture, the HUGE SCAM they have being doing all these years. This is a GLOBAL SCAM.

As reported on foreclosure defense nationwide:

Mortgage Meltdown: “Entire Industry Is A Scam,”

Says NY AG As Subpoenas Go Out To 14 Loan Modification Firms; “Intent To Sue” Sent To Another

Bloomberg News reports:
New York Attorney General Andrew Cuomo subpoenaed 14 loan-modification companies and plans to sue [another] as part of a probe of the “foreclosure rescue” industry.(1) [...] “Many of these companies charge upfront fees which are specifically prohibited by law,” Cuomo said in a conference call. “Sometimes homeowners even end up paying a higher cost after one of these companies gets involved.” Cuomo said that in many ways the “entire industry is a scam” because the U.S. Department of Housing and Urban Development provides assistance to struggling homeowners for free.
For the story, see Cuomo Subpoenas 14 Loan Modifiers, Plans Lawsuit.
See also: New York AG press release, see Cuomo Announces Intent To Sue ‘Amerimod’ Loan Modification Company In Investigation Of Foreclosure Rescue Scams Targeting Homeowners Nationwide (Long Island-Based American Modification Agency Charged Illegal Up-Front Fees and Used Deceptive Marketing to Target Homeowners Facing Foreclosure; Cuomo Also Issues Subpoenas to Fourteen Other Loan Modification Companies Across the Country in Nationwide Investigation).
(1) According to the NY AG’s office, it has served a notice of intent to sue on American Modification Agency, Inc. (“Amerimod”) and its owner and President Salvatore Pane, Jr., accusing the company of charging illegal upfront fees and using false advertising to reel in struggling homeowners. Amerimod is headquartered in Uniondale, NY and claims to operate in all 50 states, servicing thousands of consumers nationwide.
Cuomo has also issued subpoenas to fourteen loan modification companies: American Home Recovery Corporation; CloseMore Financial Corporation; Elite Results Group, Inc.; FLM Law Center LLP, a/k/a Federal Loan Modification Law Center and Federal Loan Modification; Hometown U.S.A., Inc.; Global Modifications, Inc. a/k/a The Law Office of Brett Margolin, P.C.; Loan Modification Affiliate Exchange, Ltd, a/k/a LoanMAE; Nationwide Modification Agency, Inc.; NMA Legal Services, P.C.; Northeast Mortgage Services; People’s First Financial, Inc.; Raymond Lewis & Fitch, Inc.; Settled For Less, Inc.; and the Law Depot, Inc. a/k/a the Loss Mitigation Legal Network.

PLEASE NOTE: The above article mentions that there are outfits that are set up by the goverment that can help the homeowner for free. WHO DO YOU THINK PAYS THOSE OUTFITS?

THE BANKS ...thats who.

BIG BANK HAS ALWAYS BOUGHT WASHINGTON and always will.

Homeowners need to be proactive and fight their own battle with the help of someone that they hire and pay to look out for their best interests. PERIOD