Estimates show The Community Mortgage Assistance Program has an annual revenue of $56,000.
If you have been scammed by Koy Chiu or KOY CHIU's Home based workshops or credit repair scams please contact the FBI and Attorney General of North Carolina or what ever state she may be. She consistantly Lies on her radio show.
These people prey on those people who are having hard times - they are parasites and should be shut down
After attending her workshops along with a federal investigator the Lawsuits have been filed.
*Community Mortgage Assistance Program and its principal, Koy Chiu, charge consumers as much as $1,500 in advance and claim to have a 98 percent success rate in saving people's homes. But consumers who pay the fee get little or no real help working out a loan modification. Chiu falsely promotes the company as a "faith-based organization" on gospel radio and in written materials to target religious homeowners and make the company seem trustworthy. [continued below]....
Drives a 2001 Mercedes-Benz S-Class-
Charlotte foreclosure-help firms sued by attorney general-
With these suits, filed Friday in Wake County court, the attorney generals office has now sued 16 such companies doing business in the state. In general, the companies tell people who are struggling to pay their mortgages that they will help them negotiate with their lender for a fee, touting high success rates.But they often do little to help, the attorney generals office says. And in North Carolina, its illegal to collect money upfront for foreclosure or loan modification help.These schemes promise to help save your home but instead drive you closer to foreclosure, Attorney General Roy Cooper said in a statement. Victims lose precious money that could pay their mortgage, and critical time that could be spent negotiating real loan modifications.According to the lawsuit, Community Mortgage Assistance Program advertised itself as a faith-based organization that will negotiate with a lender to stave off foreclosure or reduce mortgage payments. It said the company had a 98 percent success rate.The company collected a fee upfront, generally $1,500, the lawsuit states, and often later misled customers that they were handling everything.Reached by phone Monday, company principal Koy Chiu said she was unaware of any issues with her firm.We have never had any problems, she said. We definitely dont have any lawsuits or any problems with the attorney generals office.The lawsuit filed by the attorney generals office states that Chiu had already been sent two cease and desist letters, and that Chiu responded to one of them.The other company, Lender Exchange, operated similarly, according to the lawsuit, often charging the equivalent of one months mortgage payment for its services.Company principal Tanya Wilson said she was unaware of any problems with the attorney generals office, as well, and that the company had been dissolved. Another man, Kenneth McCurd, is named in the suit as well.