|
|
Review 11/8/2010
|
|
While researching my options about home loan assistance programs, John Towers Financial Services called me.Got my info from the internet.In short, I was convinced that a loan modification was my best and only option. However, the catch was for them (John Towers), to do my modification it would cost $3000.00. They were sending me a packet through e-mail and my first $1000.00 was due/planned before I received the official government forms. The lady took my bank info over the phone and I had to close out my last IRA to get the money. I told the woman I wasn't sure when I would get the funds. I couldn't promise on a date. I reviewed the packet they e-mailed me and it consisted of the free forms from Making Homes Affordable.gov and forms to collect all my financial info. Then I researched and came to realize that $3000 was a lot to pay for something that was supposed to be free. I never completed the forms or called them back. Well,a few days later I received the $2000.00 from my last IRA, after the weekend, I checked my account and John Towers had debited $1010.00 from my account already.
I called the office furious. Finally I was able to reach Carol Schaffer, the girl I originally spoke with. I explained I was furious and did not have the money to pay $3000.00 for a loan modification or I would not be needing their help. Once again, Carol reassured me that the loan modification we agreed upon was the best option. They were going to get me 2% interest with payments of about $295.00/mo. She assured me that even if I had to pay my fees with a credit card check,it would be worth it. They have great success at this and knew exactly how to handle it and i could pay the remainder in payments. I felt like I had no other choice but to continue. Well, I get a copy of their Loan Modification proposal for my home, e-mailed to me. This $1000.00 packet consisted of one typed letter requesting Loan Modification on my behalf, a copy of homes in my area from the internet and the compilation of pages of info completed by me.
Then I get a telephone call from a man who prepared my proposal. he explained that they were going send in my proposal on my behalf. After this point it was negotiation time. No money was ever mentioned during this call. I assumed that the remaining payments for their services would be made after the services were rendered. However, Carol called me the next afternoon and said they were ready to submit my modification packet and they will as soon as they get the next $1000.00 payment. I almost cried because I did not have the money. Carol told me to take money out of a credit card if I had to. I had to deposit the check into my bank because they could not accept credit card payments. After that conversation, I quit answering their phone calls. Carol called me several times and i never answered. She even threatened that they would suspend my file and I would have to start all over and pay my 1K over again. FAT CHANCE.
Since then, I have been working with my mortgage company myself. I learned that unless you fit certain criteria, no matter who submits it, there is no guarantee that a modification can be done. I am out $1010.00, but at least I did not lose more. Call the Hope Line before you go to John Towers. Call HUD, get help, but do not give them your money!
|
|
|
|
|
|
|
|