Loan modification company banned from doing business in Oregon

Loan modification company banned from doing business in Oregon

Steve Anderson bought a house at the height of the real estate market and now he’s upside down.

“It’s scary, it puts you in a quandry. You can’t unload it,” said Anderson.

One television infomercials says it’s no problem to be upside down on your mortgage. USMAC Law Group, the company behind that infomercial, can no longer do loan modification work in the state of Oregon.

“This company was offering to modify loans but charging very large up-front fees and that’s actually illegal under Oregon law,” said Attorney General John Kroger.

Oregon sued the California based company and it agreed to stop doing business in Oregon and refund consumers. Most paid about $4,000 in illegal up-front fees.

Mike Rockwood has modified five of his own loans, including his personal residence and investment property. He has created a top-notch workbook to walk you through the steps of fighting to get the best terms on your loan modification.

Click here to get proven help with your home loan modification

“The important thing for Oregonians to know is if they’re worried about losing their home or not making mortgage payments we have mortgage counselors to work with them for no charge or at a very small charge,” said Kroger.

However, many unscrupulous companies continue to target desperate homeowners desperate for an easy out. It’s a problem that’s exploded in foreclosure filled Oregon in the past year.

“So many companies are getting creative in this strange housing environment, but that makes it even scarier because you really don’t know what you’re getting into,” said Anderson who chose not to remodify his loan.

Instead, he’s doing his best to hang on and is now crossing his fingers that the housing market will recover quickly. Paul Reza with USMAC Law Group said his company is working to comply with laws in every state and is cooperating with the Oregon Attorney General’s Office.
#####
Source: http://www.kgw.com/news/business/Loan-Modification-Company-Busted-for-Breaking-Oregon-Law-80957787.html

Homeowners – Need Some Sound Advice?

Get Out of Debt Workbook Seasoned debt expert shares several little known but highly effective techniques guaranteed to get you out of debt fast – no matter how much you currently owe.

Stop Foreclosure Get more help on fighting to stop a foreclosure with one of 7 options. For example, if a loan modification is not an option learn about a little-known government program that will stop a foreclosure in less than a day without an expensive attorney. Also get the latest foreclosure news around the country, read Q&As and other resources. Legally Restore Your Credit If you are visiting this blog, you likely have mortgage lates, which are a big blemish on your credit report. Once you resolve your mortgage situation, you can legally remove those mortgage lates and all derogatory credit from your report without having to hire an expensive attorney or credit repair service.

oregon loan modification, oregon loan modification scam, USMAC Law Group, home loan modification, loan modification, mortgage loan modification, loan modification program, hamp government program

Technorati Tags: oregon loan modification, oregon loan modification scam, USMAC Law Group, home loan modification, loan modification, mortgage loan modification, loan modification program, hamp government program

Related posts:

1. Florida loan modification company leaves family with nothing after taking their money
2. North Carolina loan modification company shut down by Attorney General
3. Florida loan modification company faces class action lawsuit

Tags: home loan modification, oregon loan modification, oregon loan modification scam, USMAC Law Group