- Report: #1170844
Report - Rebuttal - Arbitrate
Complaint Review: Equity Counceling Service
Equity Counceling ServiceNationwide USA
Equity Counceling Service Equitable Counseling Center - Richard Beiza - Ethan Wiber SCAM - Be Aware of this company - do not mae any business with them unless you want to lose $1600 Mission Viejo, Cal Nationwide
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I reach out to this company because I was told they can help me modify my mortgage. When I called and provided all my numbers (credit Cards, Income, Debt, etc) I received the following email from Mark Zap their compliance department - believe he is no longer working for them:
“Congratulations! As we just discussed, your file has been accepted by the Compliance Department and you are eligible for the financial relief program. Your acceptance code is xxxxxx405.
We are working to obtain a restructuring of your FIFTH THIRD BANK at the 2% interest rate. Your new lower monthly mortgage payment is $2,017 offering a monthly saving of $775 a yearly of $9,300 and over a 5 year period of $46,500. If the term was extended to a 40 year, your new lower monthly mortgage payment is $1,656 offering a monthly saving of $1,136 a yearly of $13,632 and over a 5 year period of $68,160. The new payment is based on a lower principle balance of $574,000 with a balance reduction of $101,000 (15%) After the 5th year the interest rate will 3.25% for the life of the loan.
In a separate email, you will receive the Authorization agreement via DocuSign, which simplifies the process, so you don’t have to print and fax the agreement back to us, and you can do an electronic submission.
Remember we need you to return the Authorization agreement today, so that we can keep your file open. The Processing & Underwriting Department will contact you in approximately 24 hours after they receive your Authorization. To ensure a transparent and quality process Equitable Counseling Services offers:
Access to your case online 24/7
Direct communication with our processing department
You will receive your Professional Loan Restructuring Package especially prepared for your hardship situation which meets the Government guidelines and specific lender underwriting criteria
We guarantee the quality of our service
During the process you will have access to your case online in real time. Your processor is also available by phone / email to answer any questions and for support. www.ecclient.org
Equitable Counseling Services would like to thank you for the opportunity to assist you on this important matter.”
Equitable Counseling Services
25108 Marguerite Parkway #256
Mission Viejo CA 92692
800-777-9360 Ext 523
I was charge $1600 for their service for simply filling the blanks (my information) on a form they used with a formula to adjust the numbers so the bank can accept, I noticed that they change the numbers to look as if my debt was not as bad as it really was in the hope that the bank will accept our proposal. When I brought this to the underwriter I was told that I needed to stick to their method. I also discovered that they did not represent you or spoke on your behalf, you do all the work they just tell you what to fill out and what to send. I was told ha my modification proposal of lowering my mortgage by (101K) + a 2% interest loan rate was guarantee and that there was no way the bank could refuse my loan modification based on my case - the numbers I have provided with unemployment hardship.
I asked that in case the proposal was denied by the bank, was I entitle for my $1600 dollars reimbursement? I was told yes that their services were fully guarantee!. Well, long story short, the bank denied my proposal and I lost my $1600 dollars since they refused to reimburse me the money.
I received the following letter from the compliance department where they also threaten me if I was to make any public complains.
’From: Compliance Department (ECS) [mailto:firstname.lastname@example.org]
Sent: Wednesday, July 02, 2014 7:22 PM
To: Subject: RE: Loan Modification Request - Error Resolution Procedure
In response to your email, the services that ECS undertakes were clearly explained to you in the Compliance Call and also in the Engagement Agreement.
Our services are considered accounting services (not loan modification) and our goal is to optimize your chances for a loan restructuring and are based on best efforts.
We have provided you with that service and also gave you access to your account online while your file was in process to make the process as transparent as possible for the home owner.
You have received an electronic copy of your package by email and also a physical hardcopy by regular mail including a tracking number, which completes our services.
From that time forward, it will be your responsibility as the home owner to follow up with your lender. Our organization cannot submit any information to your bank on behalf of you or contact your bank to negotiate on your behalf. That will be your responsibility as the home owner.
From our side, we also cannot monitor if you have actually submitted your package to your lender or if you have made the follow up calls to your bank and monitor if you have provided them from your side with the necessary documentation that they requested from you.
The decision to modify your mortgage will be made by your lender. We cannot guarantee you the results, and also our contract does not specify any refund.
Be advised that banks have been making sincere efforts to discourage home owners to get (professional) help. Do not let your bank intimidate you. It happens sometimes that the banks are changing certain forms or procedures which is beyond our control.
If your bank is not modifying your mortgage, they are not following the State & Federal guidelines for modification. Please contact them directly.
Your case is permanently closed and please contact your bank directly for further assistance.
In case of your threats, harassment and any sort of this kind should happen, we will automatically by default forward this to our attorney who will file a restraining order against you for harassment, which automatically will become public record.
Equitable Counseling Center”
Notice how here is no names nr numbers attached since they just do not want to hear from you any more
Please do not trust these people, go to HUD counseling which is free and if they cannot help, seek advice from an attorney.
It is sad to learn that these people pray on the vulnerable without having any second thoughts...
The people that worked in my case were Richard Beiza (underwriter) and Ethan Wilber (Compliance). I am writing this report to make people aware that there is no need to pay for this kind of service since it should be free.
This report was posted on Ripoff Report on 08/19/2014 01:43 PM and is a permanent record located here: http://www.ripoffreport.com/r/Equity-Counceling-Service/nationwide/Equity-Counceling-Service-Equitable-Counseling-Center-Richard-Beiza-Ethan-Wiber-SCAM-1170844. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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