Can Homeowners Trust Short Sale and Loan Modification Companies?

[McBrown]

Is it brings additional stress and heartache to homeowners ?

[stevetrang]

Of course they can trust short sale and loan mod companies. I don't understand this question. We specialize in short sales, and we haven't had any cancellations. Loan mod requires payment up front, and that's ballsy to ask for. Short sales don't charge unless we close.

[lylej]

I don't understand your question. If homeowners are in a position of needing to consider short-sales, they already have enough heartache.

[Mitch]

We are in the process, with the state attorney general, of investigating and bringing charges against several "Trust" short sales. They are usually using a phantom company for the closing before the buyer gets it. Basically what they are doing is mortgage fraud. We have dealt with three different companies and each of them have been shady. Our Agents don't deal with them anymore as it's not worth the risk in my opinion.

[AndrewR]

what do you mean trust short sales ?

Could you elaborate more on this ?

[MikeNY]

We are in the process, with the state attorney general, of investigating and bringing charges against several "Trust" short sales. They are usually using a phantom company for the closing before the buyer gets it. Basically what they are doing is mortgage fraud. We have dealt with three different companies and each of them have been shady. Our Agents don't deal with them anymore as it's not worth the risk in my opinion.

A few guys got arrested in our county for doing this and I knew it was a scam from the day I saw this company promoted allover the web. The company was doing loan modifications and who knows what else. The agent who got arresed was a good producer, $20,000,000+ and did not need to do this nonsense but he got greedy, shame.