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CONSUMER BEWARE! NOT A TRUSWORTHY COMPANY
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We obtained a loan modification from CAA back in March for which we paid $6.995.00. It was our understanding our modification would consist of getting our monthly mortgage payment lowered by having the lender agree to take a portion of the principal balance and tack it onto the end of our loan thereby reducing the amount our payments would be based on for a period of time. This is called principal deferrment and this was accomplished. Just prior to our trial period however, we received communication from Sam Chang stating that they were able to negotiate a permanent "Principal Reduction and Forgiveness" of the entire deferred balance in the amount of $124,524.08. For this they asked us to pay an additional $12,400 which represented 10% of the savings on $124,524. At the end of the trial period, however, when we received the final paperwork from our lender-nothing was forgiven. It was "deferred" and would still be due and payable by us at some point. Since we did not receive what we paid for, we asked for a refund of $12,400. To date their responses have not been honorable & they have issued no refund, We must now to go to court with this company. BOTTOM LINE: DO NOT PAY THIS OUTFIT ANYTHING UNTIL YOU RECEIVED FINAL DOCUMENTS FROM YOUR OWN BANK. You cannot trust they will refund your money if they fail. We are devastated by this experience!
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