Loan Modification Companies – Are They A Scam…?

Do You Know Anybody Who Has Benefited From Them…?

 

I don’t know of any either.  Let me know if you know someone who hired one of these companies and had some success.  We  in the business call them “Loan Mod” companies and they are every where.   You’ve probably heard some advertisements on radio or seen them in local media…

 

Did you know that they are also a “Muti-Level” marketing (MLM) business as well that almost anyone can get into..?   Yes… just like AMWAY or WEST COAST WELLNESS.  These are companies that have products to sell.  They also solicit “associates”… folks like you and me to invest in their business to distribute their products.  They also want you to recruit new “associates” and give you a piece of their action and so on down the line.

 

Well,  Multi-Level Marketing is also prevalent in the Loan Modification Business.  One such company is Certified Financial Protection Group LLC.  Here’s a copy of the Associate Program in a PDF.

 

I have a client that has not had success with this group and was solicited by a friend that signed up for the “Associate Program”..  The “associate” gets a piece of what ever they bring in and the more they bring in the more they get.

 

Moreover…..

 

In today’s Sacramento Bee there’s an OP-ED written by Kamala D. Harris, the District Attorney for the City and County of San Francisco and Kevin Stein the Associate Director of California Reinvestment Coaltion.  They provide some more information and some links to helpful counseling agencies.

 

My View: Extreme vigilance needed to combat loan scams

 

 

I’d like some feed back on this issue.

 

 

IN THE MEAN TIME…?  

 

 

 

MAKE IT A GREAT DAY….!