Real Stories Prevent Loan Scams - A Project of the Lawyers Committee for Civil Rights Under the Law

The stories below -- taken from the Loan Modificaiton Scam Prevention Database with permission from the homeowners -- are just a sampling of the damage loan modification scammers are causing to American families.

Anthony L. from Havervill, Massachusetts
Anthony proactively contacted both of his lenders in February 2009 about getting a loan modification. His work as a product engineer for a major medical supplier paid his bills, but his large student loan payments made him worry he would soon be unable to afford his current mortgage payments. The lenders sent him confusing paperwork, and he filled it out to the best of his ability, but when he contacted the lenders, they told him they never received anything and sent him more paperwork. After numerous phone calls to his lenders for help, Anthony began to look elsewhere.
Edward B. from Casper, Wyoming
Edward is a construction worker and lives with his wife, his four kids and their grandchildren. Hurt by the recession, he responded to flyer he received in the mail from a company he thought could save his home. Unfortunately, all the company did was take his hard earned money.
Nellie H. from Chandler, Arizona
When Nellie fell behind on her mortgage and received a foreclosure notice she called a loan modification company she saw advertised on television. The company promised seasoned attorneys would get her a modification -- or provide a full refund -- but all they did was take $1,300 from her, give her the run around, and never refunded her money.
Steven P. from Lowell, Massachusetts
Steven P., a hardworking police officer, feared his adjustable rate mortgage was going to reset to a rate he could not afford. Based on a recommendation from a trusted friend, he contacted a loan modification company. After charging Steven nearly $3,000 in upfront fees, all the company did was call his lender to ask if he was eligible for a modification -- something Steven could have easily done for free.