4/13/2010 7:48 AM (PST)
It's good that you are checking. Effective October 11th, 2009 in California, it is illegal to collect any fees, regardless of the form, for negotiating or attempting to negotiate a loan modification for a residential mortgage. All services must be fully completed before any charges can be imposed. It is also illegal to divide advance fees or services into components for the purpose of avoiding this law.
State regulators, the FTC, and other federal regulators recommend that homeowners should never pay any up-front fees and be on the lookout for high-pressure sales tactics.
You can give Springboard Non Profit Consumer Credit Counseling a call and speak with a HUD certified counselor for Foreclosure Prevention counseling as well as credit and debt counseling. Springboard is part of the Homeowners Hope Hotline.
You do not pay for this counseling service.
There are many programs available for families to keep their home, Springboard will partnership with you to get an understanding of your current situation and gather information about your living situation. Gathering this information will help in finding solutions and resources that can benefit you and help with getting a resolution for you with your lender.
Ultimately, the goal is to help you create a realistic financial situation where you will be able to maintain your home long term. If appropriate, Springbord will also facilitate a 3 way call with you and your lender to discuss the loss mitigation options that may be available for you. Have your loan information handy as well as your basic income and general expenses. If you have high credit card debt, you may benefit from credit and debt counseling as well.
I would like to stress again, you do not pay for this counseling service and no company can guarantee a modification. Call 800-449-9392
HUD approved housing counseling agencies are exempt from this law and since I work for one of these, I of course recommend that homeowners start their loan mod journey by calling us first. Our nat’l hotline is (800) 449-9392
Call 800-449-9392 and let your counselor know you heard about them on TrustLink.
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4/13/2010 8:34 AM (PST)
Good Morning Nancy,
This company has been given a F rating by the BBB in lieu of the services they offer being problematic in the industry. Be sure to read the full report.
Just click on view BBB report and you may read and file your complaint from there.
Thank you.
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4/13/2010 1:12 PM (PST)
Nancy,
Yes, I used this service and was very pleased with the results. I live in Georgia and recently got a divorce. My husband left me with all the bills including the house payment. I am a retired teacher and dont make that much. I raised my children in our home and wanted to do anything in my power to keep it. I tried to get a help myself and was denied. I then was given the number to one of these "non-profit" companies. I truly did NOT PROFIT. I was denied again. The NACA rep actually said I should just "leave the keys on the porch". I got the same call you did Nancy. They said they "worked with my lender" to negotiate a loan mod...I asked them if they work for the lender and thats when he explained the no Nationwide is a 3rd party that represents homeowners by going against the lender...so it was confusing for me to at first to. Basically I felt I had no other options if I wanted to save my house. I paid them half to start the process and I would have to pay them the remaining once the mod was complete. I was told if I they did not get me a lower payment and modification they would give me my money back. So, almost two months after paying them and sending them a bunch of paperwork I got a call. The call was from Nationwide saying I was approved for a 43K principal reduction and a new interest rate of 3%...I could not believe it. No, really I couldnt believe it!!! I called Wells Fargo and the confirmed I was approved!!! This company is 100% reliable. I have no idea what I would be doing with the house if I did not get that call...dont fall for the bank scare tactics or those non profit companies. they do not care at all. at least if you pay someone you know they have to earn the money!!! best of luck...to all who read this.
Linda T.
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4/13/2010 3:15 PM (PST)
I got my modification from Nationwide Mediation Services!!! They did all the work. Worth every penny...I tried to get help from CitiMortgage. What a f-n joke! I got a 2% rate and my payment was cut in half and included my tax and insurance. More $$$ in my pocket do what I love. These banks got bailed out by us tax payers and are not helping one bit. Oh Yeah, I called the better business and they said they have a bad rating because the do loan mods. They had 0 complaints so I went with them. I took a chance and it paid of bigger than any Vegas bet!!! Everyone is scared these days...I think y'all watch to much TV heehaw....
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4/13/2010 3:45 PM (PST)
i am not sure I believe that these messages are not written by people who work for nationwide. One person said she gave money up front, but I am not sure that is legal? I live in ohio, so the laws may be different. I am still working with citi, waiting on my modification, think I will stick with them for now, since they have not given me any feedback yet that is negative.
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4/13/2010 4:28 PM (PST)
does anyone know of any companies locally in ohio that work with modifying your loan, without paying up front?? I would be interested in hearing what people know also about ohio laws as paying for this service
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4/16/2010 10:14 PM (PST)
Nacy A.,
I got a help from this company...I LIVE in OHIO...if you dont believe me...I am from akron, oh...I went to Hyre JH and Elliot HS...i played basketball at patterson park lived of kramer and had a wonderful creek in my back yard... i love the indians, browns, cavs abd bucks...weird i saw this but i had to post!!! i am not telling you who to go with or what to do but seems to me everyone who actually went with this company is happy...if you dont believe im real ask me any OH-IO question???they saved my ass!!! everone should take note..call me crazy but i dont trust BANKS OR THE GOVERMENT!!!! any way heres to the heart of it all and my man Bernie Kosar who i met at a 84 lumber
D. Huddleston
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6/3/2010 9:38 PM (PST)
nancy, i have been working with these people for a few weeks now and the money you are paying is for them to represent you as they are lawyers that have expanded there services for the type of economy we are in. when and if you get you mod then you pay. i have did my homework on this company and also have asked them every question in the book
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6/23/2010 9:37 AM (PST)
If they are legit, then why did they ask me to sign paperwork before I even was allowed to see it, and when I ask them to explain and see the paperwork before I signed anything the rep, Tyler said "I have lots of other people to help, I have already postponed another appointment to deal with you and you have wasted enough of my time" and then he hung up on me. I was on the phone with him for only several minutes and considering that I am sending him $1000 dollars and putting my loan for $200,000 in his hands why was I not worth his time to answer a few questions? and why was that a problem for him?
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6/23/2010 9:39 AM (PST)
And to add to the previous post, I am glad there are people that may have gotten help from them, I am happy for you, struggling to pay, and having finacial issues is a horrible thing to go through.
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7/21/2010 3:30 PM (PST)
This company is a complete joke. They took my money and provided no services. Just like every other post on here they do not return phonecalls or emails. I call every day at least 5 times a day and speak to different people. My loan mod has been denied. they knew about if for weeks and did not tell me. I now have a sale date on my house that is less then 2 weeks away. They have stolen so much more from than the $1000 I paid them. I have spent nights awake cyring and now I have lost my home and have nowhere else to go. Thanks alot. They are liars and crooks. PLEASE do not use this company. I will write reviews on every website I find regarding this company in hopes that I help 1 person save their home because this company will not.
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9/12/2010 10:30 PM (PST)
They appear to be NOT REPUTABLE. We signed on with them, as they indicated they were in some way affiliated with our mortgage company, and now we are out $900. I want my money back as they state: "Money back guarantee." I tried calling and emailing them. I just filed with the California Attorney General's office (Nationwide's home office state) and with the Ohio Attorney General's office (my home state) and I want action. If enough people file with the CA attorney general's office, maybe we can all get our funds returned!
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9/24/2010 6:38 AM (PST)
My experience with Nationwide Mediation Services – Sept 2010
I was in the same boat about this company - I had a friend of a friend that did use Nationwide Mediation Services and said he got his mod down and I went to his house to look at his paper work and it "looked" legit. But he did say he did the do-it yourself way too which makes me think he doesn't know which way it came. Then his neighbor which is my friend has been waiting and they keep telling him oh it will be next week. A week goes by and I call my friend to check every week and the same thing - try again next week.
I am 2 months behind and just jumped the gun because i need something positive from this and sent Nationwide Mediation services the 1500.00 through my bank and got an email from someone there. Well this is where it begins with me - I saw a contract email so I replied back to the email with all my information and waited. But saw some missing documents and replied to the email with questions and got no responses. Sent another email and another - sent 3 emails and no reply. What a great feeling already going into this with giving them 1500.00 and getting no email reply at all. So I called and the phone would ring a lot and was put on hold and with no phone hold music would play which I thought was bootleg and then got my call dropped so called again and after many rings was told to hold again complete silence. So trying to remain positive thinking maybe nothing got on the phone with the rep (my friend's friend used.) Very smooth talker and assured me everything is fine we will send you everything and you’re going to get 2% and everything will be fine mortgage would be cut and I would be approved. Then he spoke of a settlement with my 2nd mortgage for a lot less money. So I was like great, sounds like a miracle so let's do it. I can get out of my 2nd mortgage I will be ahead of the game and he told me it will take 30 days and you will mail your 2nd Mortgage and clearly asked rep – I will only send to 2nd mortgage no one else. Well the next day I get an email from a different person from Nationwide Mediation Services and what was in the email said was totally different!!!
It said that we are going to settle your 2nd mortgage and it had my 2nd mortgage name and what they were going to do with my 2nd mortgage and that they wanted me to WIRE them the money directly to (Nationwide Mediation Services) Nationwide Mediation Services would then "HOLD" the funds and it could take up to 120 days for settlement and it even had a Bank Of America account number and routing number. Also that it would come off the settlement amount which was well over 10,000.00+ that Nationwide Mediation Services would keep any remaining left over in the settle as a commission! So let me get this straight I give you 1500.00 to start me up and over 10,000.00+ to hold my $ since I trust you and whatever is left over your company pockets? This sounds like a craigslist scam! My HIGH hope of getting a mort
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9/24/2010 6:40 AM (PST)
mortgage lowered was quickly going down the toilet.
So I quickly contacted my personal bank rep and connected with my bank to cancel the check I sent to Nationwide Mediation Services - GOD help me I don't want to lose out of 1500.00. I saved my money!
So at this point I decided to call Nationwide Mediation Services and find out what was going on and have a piece of mind. I called - the receptionist picked up the phone and I told her that I noticed the F rating on the BBB and she said that is not accurate at all and tried to tell me that you have to be a member to get an A rating I said really and all the complains with it?
Then my rep gets on the phone and tells me no I (myself) have it all wrong and you have to pay the BBB $450 a month to get an “A” rating – I thought even if this were true you think that's a small price to pay but regardless. I complained to him about the settlement email and he came back and says "wait a minute you got mixed up with another customer and you got his information" – funny my email I received from Nationwide Mediation Services had my banking information all the way around it – it was to me and completely about me and my 2nd mortgage. Then my rep said "that the money transfer was to a TRUST account at Bank of America" that belongs to Nationwide Mediation Services. Well sorry – I had that checked out as well and guess what it ISN’T a trust account and has a low balance to add and belongs to a name that isn’t a normal everyday name used here in the United States. So then I asked well why is it no one there replies to emails? I sent 3 emails to an employee at Nationwide and never a response from any of them and the settlement person was a different person and replied to that user and that was no response. Too Many REDFLAGS. Then my rep said hold on the person that you emailed is right here and he said "come here come here" to get him and then the phone went on hold without the on-hold music and I threw in the towel from that point and hung up. ODD? – No one ever called me back or emails me and on top of that. I’m surprised but then again I am not.
So coming back to your decision to try these guys – well I am a very skeptical person and I looked at plenty of forums and was torn between doing this or not but it was so hard to resist some sense of hope. Well this is the bottom line: I gave it a shot and was promised a modification that sounded too good to be true and sent the money and came up with emails not being replied too – a smooth talking rep and mistakes in paper work and then a money transfer to their Trust account to hold my money and hopes of it being legit. I verified the trust account and it wasn’t a trust account – Would you do business with everything I have experienced? I could have lost a lot more than 1,500.00 and a lot of valuable time. Do the smart thing here – DON’T DO IT! On Oct 11, 2009 it will be a law in the state of CAL they can’t collect any funds up front until it finalize which I
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9/24/2010 6:40 AM (PST)
didn’t find out till now. – GOOD LUCK PEOPLE and be smart here.
After I wrote all this I received another email with the hardship letters and strange part is – it’s from my Rep in the writing in the email but the email “from” area is from yet another different employee at Nationwide Mediation Services – and here is the strange part – it’s from a regular gmail account! The other emails from before were at least from nwmediationservices.com email address. Could it get anymore more sketchy?!?!
Be on your toes – If you ask them about what you just read with my post - Be ready from the smooth talkers and all these other people saying they used them and it’s saved their mortgage it’s probably them and you will hear super great excuses.
I took the time to warn you about not getting ripped off – If you vaule your home and money. Save yourself and go elsewhere – go somewhere you can meet face to face. Not out of state and get scammed like so many people already have. Don't believe me? Just google it!
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