On August of last year I was facing foreclosure. I received a flyer from Safe Harbour Foundation that help people "find lender to help you get current in your mortgage and save your home". In desperate need of help I contacted the "non-profit foundation" and Christopher David sent me through the email all the paperwork needed.
After filling and sending the papers, he ordered the appraisal. Everything went pretty smooth. One week later, he told me he found this lender is willing to help me put my loan current. He didn't give any information in regards of the charges until the night before that we called him in conference with the representative of the lender, Peter J Porcelli.
That's when we found out he charged us $41,000 for an $18,000 loan. We asked about the high charges and he said we needed to understand that is a high risk loan and they needed to charge us the max stated by law. With desperation, we accepted.
He told us that after paying the first mortgage on time and this loan, our credit will be in better shape to refinance. It was a negative amortization loan that matured on February this year and needed to be repaid on that month.
When February came up, we couldn't refinance because our credit never improved and this company never reported my payments to the credit bureaus. Later he told us he don't report to the bureaus.
After 4 months of threatening us to take away our house, we were surprised that he just sttoped calling us. On July we search on the internet his name and found out he is under federal investigation, for the third time. The Safe Harbour Foundation is not exempt under the IRS as a Non Profit Organization, just wondering if they charge about $10k for foreclosure relief. Besides that, he is accused of overcharging the customers.
And besides that Safe Harbour Foundation and Silverstone Lending is owned by Peter Porcelli, so he take a big chunk of money for every loan he makes, plus the house, because according to the article, I am not the only one.