Hope Now Modifications, Hope Now Modifications LLC Still Ripping People Off Cherry Hill,New Jersey

   Just wanted to let you know that it looks like the ARRA plan, that President Obama has put in to place, is going to help us save our home from foreclosure. After many road blocks, including a $2000+ payment to Home Now Mod back in Jan of this year, we were finally able to get our current mortgage company (Citimortgage) to start us moving through the governments loan modification program. We had a Freddie Mac loan.

   Currently, the mortgage company shows that we qualify for a fixed rate of 2% for 5 years then will go up 1% every year until we hit 6%, which is where it will stay. Our payment has been cut by 17%, over $200 a month. This is a 4 month trial, while we fill out the governments paperwork and they process it. After our 4th payment, the government should have completed the audit of our paperwork to come to a final decision. They have the power to move our mortgage out to 40 years, or since our house is now worth less that we owe, they can forgive some of our principal. This is on top of the reduced percentage rate.

   All of you who still do own your houses, hang in there. Try to work with your current mortgage companies to get on the governments modification program. Good luck.

All,
I found out the law firm that was supposed to be helping with our modification. If you tried to get a mod in January, the law firm was Oliver Griffin. Since no phone #'s are allowed, he is in NJ, look him up, area code 215. His VM says to contact his secretary, Toni, for imediate assistance, which I did. Her ph # is provided on his VM. She is collecting information, which I provided to her, for the FTC.

They used deceiving practices to take your money.They took my money in December and then started avoiding calls.You also need to contact the Attorney General office in New Jersey.This could be tied up in court for a while.

Thanks for the advice. After I posted my original report, I did file a complaint with the FTC.

These companies are legal, but are the most unconscionable financial services companies in existence. Cancel the contract immediately- they will do nothing for you. And you probably won't get your money back. Sorry for the bad news. Check out a reputable financial advisor like Dave Ramsey (he has a website) to hear of similar horror stories. These companies are scum, and prey upon people most in need of solid financial advice. Call the companies that you owe money to directly- that is the best way to re-negotiate payments. And DO NOT GIVE THEM ELECTRONIC ACCESS TO YOU CHECKING ACCOUNT- they will clean it out, renege on their word, and cost you more money in bounced check fees. Beware.

You might be interested to know that the Federal Trade Commission has a file on this company. The information is here: http://www.ftc.gov/os/caselist/0923079/index.shtm

You should probably contact the FTC and report your experience.