![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-103766-100x100.png\")
HUD is great, but watch out for CHUD's loan mods. They really specialize in multifamily dwellings, often below street level. You'll get eaten alive. With fees, I mean.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-587956-100x100.png\")
@Ash78: I fell for the CHUDs' crafty prime-time marketing. They _specifically promised_ no face eating, and yet here I am, faceless. :(
(I need to use the emoticon as I have no face with which to profess my sadness).
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-489342-100x100.png\")
Is it just me or does it seem like there are even more sketchy TV ads than normal nowadays? Even on channels that I would generally not think of stooping to such lows.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-352008-100x100.png\")
@nicemarmot617: Without all the juicy ad revenue from car companies and dealerships they used to get, the networks may be turning to second-tier customers.
![\"user-pic\"](\"/css/images/default.gif\")
@chrisjames: Without all the juicy ad revenue from car companies and dealerships they used to get, the networks may be turning to second-tier customers.
Bingo.
It's also not just on the network / broadcaster level. Ad breaks come in two major types: the stuff the network airs, and the affiliate breaks where the local provider (i.e., your regional cable company) airs stuff. Most of the networks themselves are holding up all right for the time being (ad sales run far enough in advance that most Q1 2009 air time was sold before everything went 100% FUBAR), though there are some exceptions. The infomercials and scam ads are starting completely to fill the affiliate breaks at certain times of day, though. Particularly in more run-down regions. Unemployment is quite high right now where my parents live, for example, and this kind of crap advertising is just back to back during affiliate breaks up there.
@chrisjames: I think they're taking everything they can get.BTW,30 min. infomercial scams are on network TV at times you never saw em before.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-17799-100x100.png\")
In this economy, any medium (TV, Radio, Web, print) that depends upon ad $$$ will take it from anyone, scam or not.
Consumers' BS detector should be on high-alert during these times; just because it's on network TV or whatnot doesn't mean it's still not a scam.
Why have we never seen a law suit against the networks for running ads that are (obvious) scams?
@gtrgod01: Not all ads, particularly of this sort, are run by the networks. They're often part of affiliate breaks, so the party filling the ad space is Comcast or Time Warner or whoever.
![\"user-pic\"](\"/mt-static/support/assets_c/userpics/userpic-159178-100x100.png\")
@gtrgod01: Right before the ad begins, there is usually a disclaimer absolving the network from responsibility of any of the ad's content.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-439678-100x100.png\")
@failurate: Just because there is a disclaimer doesn't absolve anyone. I could put a sign in front of my house that says \"Owner not responsible for stray bullets\" and I'm pretty sure I'd still go to jail after I shot someone walking by.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-122043-100x100.png\")
Ya, since someone choosing to call an 800 number and someone having no say in getting shot are the same thing.
Worst.
Analogy.
Ever.
I consider myself a pretty savvy consumer, but even I thought their \"breaking news\" was actually a news story about the government bailouts finally trickling down to the tax payers.
I mean, I thought that for about 5 seconds, and I had my face buried in a laptop at the time, but still. I can see how it would fool people.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-211423-100x100.png\")
I saw this on TV last night - very cleaver marketing on their part. I really can see how someone might fall for this.
I am shocked they were able to get ads on network TV though. It is a huge scam! I hope these get pulled soon.
These scammers are no different than \"The Federal Reserve.\" Please. Why don't they come forward and tell the American people who they really.
Anyway, back to topic. I think tv networks are quite irresponsible for the ads they show. A lot of those \"for only $19.99, but wait, there's more\" products/offers are deceiving and often involve continuous charges that consumers are unaware of until they get their credit card statement. By then, it'd be too late because when you try to contact them, they put all kinds of obstacles in front of you. When you finally reach someone, they tell you they'd take care of it, and never do.
Sad to say, the ones who are responsible for any claims in the ads are the advertisers themselves. There isn't much a network can do to check out claims themselves. I mean, how are they supposed to know if Diet Dr. Pepper really tastes more like regular Dr. Pepper or if ShamWOW! is really going to save you much $$$ on paper towels? They won't pull those ads unless a) the advertiser's money runs out or b) they are pressured by someone else. Has anyone tried notifying the networks? Surely those \"Amish\" fireplace cabinets or Snuggie cult members could pick up the slack!
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-117249-100x100.png\")
@annelise13: So, I'm not the only person who things Snuggie wearers look like they drink kool aid from a vat?
Ultimately the media have to take responsibility for these shoddy advertisers. Running ads for known ripoff artists devalues the media's own credibility. You should hear the caliber of direct response ads running on WQXR-FM, the radio station of the New York Times. Basically I would be wary of ANY promotion these days that makes liberal use of a FREE trial offer or sample. I also advise all my friends to check ripoff reports or infomercialratings.com to get the 411 on an offer before taking a bite...
Why not pay the mortgage company to dodge your calls trying to modify your mortgage when we can dodge your calls for mere thousands?!
People who say companies like these are scams are people who freak out and cancel after 2 months. They are most certainly not a scam. You can't get into loan mods on a whim. It takes outrageous licensing fees. Fees in the millions to do it nationally. It also requires an in-house lawyer.
They are also running a $50 million media campaign. They are most likely a former lender who went under and is now cashing in on the problems they caused. But no, they are not scamming people.
The government included incentives for lenders to do loan mods in the bailout package as well. They get somewhere around $1500 per mod they complete and if the borrower defaults after the mod 50% of the loss is covered. It's a very real industry, it just wasn't a very popular one until now.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-1578-100x100.png\")
Um, except that FHA Secure won't get you a loan modification; only a refinance if you qualify (which darn near nobody does, thanks to banks hoarding money and all). Same with many state programs, including the ones in embattled Michigan.
As someone working to help people find REAL loan modifications, this is both horrifying and common. Everybody who needs one should find a LOCAL attorney's office that's got experience doing them -- that's the only way our counselors recommend. Don't go out of state or call an 800 number. Make sure the person you hire is local, has been around a while (i.e. has a reputation to protect), and has been successful doing loan mods already. Please!
These modification companies are such scams. There is no reason to pay thousands to get a modification when the decision is really up to the lender. You can work with a HUD Approved housing counselor for free, or call 888.995.HOPE - also free.
A lot of lenders now have application paperwork on their website you can fill out on your own, or a specific number to call to get Loss Mitigation / Housing Preservation. However I will also add that getting a response for a modification or any workout can take 30-60+ days depending on the lender - after they have received all paperwork.
Also FHA Secure ended 12/31/08. The Hope for Homeowners is still going on though, but the program still leaves it up to the lender if they will participate.
Trying to do a loan mod yourself is like trying to represent yourself in court. We all know you get better results with attorneys. What my bank offered me wasn't even close to what the attorney got me. Who has time to spend on the phone with their bank. How do we know the bank who did these crazy loans in the first place is REALLY going to look out for our best interest? The fee I paid was worth it. Maybe i'm the only lucky one
I was scammed by FLM but I got help and want everyone out there to know they can too.
After they took money out of my bank account without my consent I searched until I found this loan fraud toll-free line and got in contact with an attorney who took my case at no charge and recovered my funds within a week.
I would recommend talking to them if you have paid anyone for a loan modification the number I called was 800-991-6504 and they have a website at [loanfraudrecovery.org]
Don't let these guys get away with it when the law is on your side.
Most mortgage companies have internet access to request a loan modification and also you should back it up with a written request to their loss mitigation department. If you have all your proof of asking for help, they will help you faster, with written proof, and also print out what you send to them on the internet. I did it with my mortgage company and it was completed within one weeks time, (and was already referred to an attorney for foreclosure),
Remember, jsut speaking with representatives on the telephone with no written proof will get you no where. Most representatives don't care about your toubles, they just pawn it off and get their paychecks for answering the phone. Don't put your lives in their hands without paperwork to back it up.
I hope this is helpful to anyone that needs alittle advice.
Grateful homeowner in Ocala, Florida
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-297205-100x100.png\")
I knew they were scammy them moment they offered a free Shamwow with each loan modification...
@Parapraxis:
Before my computer was really fast. Now, its just kinda fast. Wait, wow now my computer is really fast, finally! Finally Fast dot com!!!Oh by the way, Your gonna spend thousands of dollars on paper towels in a year anyways...
@Parapraxis: HA! They offered me a Snuggie.