Do not use this company. They will never give you your money back once they have it. First of all they are operating illegally. In order to have a modification company in the state of NJ you must be a nonprofit with a debt adjusters license...end of story. Don't get sucked into "it's an attorney owned company". That means absolutely nothing. Eftem Velahos does not get involved in your modification. How do I know this...I used to work there.
They hire a bunch of fast talking guys who don't know anything about the mortgage business to call people on the phone. they make promises that odds are won't be met. Files are not being worked on and people are losing their homes. I had a client that got foreclosed on and didn't even know it. they thought their modification was being worked on by Melissa Fischer. Just for your information, Melissa Fischer is the step daughter of Brian Mammiccio the owner of New Hope Modification Company that was shut down by the Attorney Generals office.
http://www.nj.gov/oag/newsreleases09/pr20090312a-New-Hope-Complaint.pdf check this out or google his name.
When the homeowner called Melissa to find out what was going on after she just received a call from an asset company asking for the keys to her house because she was foreclosed on, Melissa wouldn't even get on the phone with her. She then called asking for Eftem Velahos, the attorney/owner of the company. Now you think he would call her back right????? NOT! She finally got Melissa on the phone who was very sarcastic to her and could care less that this woman with a sick child just lost her home. What kind of person could be so heartless? By the way all Melissa Fisher had to do was call the Trustee and ask for and extension on the Trustee Sale, giving the lender time to work out the modificaiton for the homeowner. Something so simple that could have saved this families' home.
They pulled money out of homeowner's accounts before the due date causing the home owner's major overdraft charges on several occasions. They took money out of people's account without have any of the homeowner's paperwork. Then when the homeowner's decided to cancel they refused to give them back there money. They had no file, no paperwork, no time spent working on the file and don't want to refund the money. How do you explain this??? They tell them to call me for a refund that I have their money. Bottom line is do the right thing and you never have to worry about people complaining. Become greedy then you get complaints filed against you.
I feel the need to post this especially since I receive constant phone calls from the homeowners i so regretfully got involved with this company seeking assistance from me because they get zero response from people at the national foreclosure consultants group. They call their lenders to only find out the paperwork was never sent in and the company refuses to give refunds to the homeowners when they demand a refund.
If you are having trouble with this company contact the better business bureau of NJ and file a complaint. Also contact Joe Iasso at the Attorney General's Office in NJ. at 973.792.4237 to file a complaint. Be sure that if you are going to use a modification company that the money is held in escrow until you are modified and that there is a 100% money back guarantee.
You also have up to 60 days to dispute the charges with your bank so that your bank may reverse the charges.
If you are currently in a modification process with this company I advise that you call on a weekly basis to get updates and email them often. Make sure that you call your lender to make sure that they have all your paperwork and that you are in the modification process. Remember there are no guarantees for a modification and they can not guarantee you rates it is up to your lender. Stay on top of them and even then you are still at risk of falling through the cracks. I wish you all the luck.
Mt. Laurel, New Jersey