A scammer by any other name is still a scammer

When struggling homeowners paid thousands of dollars in upfront fees to Wealth Educators, Inc., they expected help avoiding foreclosure. Although the “law firm” was quick to take their money, it did little or nothing to help save their homes, according to the FTC. And the “law firm” bit was all an act. The FTC sued the company and its owner for violating the Mortgage Assistance Relief Services (MARS) Rule, which protects homeowners seeking mortgage help, and got the company shut down.

The FTC said that Wealth Educators’ false claims went beyond posing as a law firm. The company also promised homeowners they would get government-sponsored or other loan modifications — or full refunds if they didn’t.

But when people tried to reach Wealth Educators for status updates or refunds, they couldn’t locate them, the FTC says. The company had a habit of changing names and websites — and sometimes phone numbers and mailing addresses — about every six months to dodge its customers. Many people found Wealth Educators never contacted their lenders, and very few people got the promised refunds.

 

If you’re struggling to make your mortgage payments, contact your mortgage servicer right away. If you’re considering a mortgage assistance company, know that the MARS Rule makes it illegal for a company to collect any fees until you get a written offer of relief from your lender and accept it. Read more about mortgage relief scams that could leave you in bad financial shape.

Tagged with: foreclosure, mortgage
Blog Topics: 
Homes & Mortgages

Comments

Throw the sob in jail also not just shut them down.

Dear a scammer from lome togo had destroyed me I have all documents so how can I do that recovery ? Plz reply soonest thanks regards . Saleh din

Very Distressing.

When my own home was in danger of foreclosing a few years back, I would have done anything to stop it from happening. I am lucky because I didn't get involved with any of these scam companies, but they sure try to sell you on their programs. The best thing I did is contact the bank that holds my mortgage and ask them for help directly. I was able to save my home and lower my payments!

I was wondering if an solider named Zelda Smith is an scammer I been talking to him for 8 months and he is asking for money. He says he's in Libya on misson and he's an special operations solider. I'm starting to get strong feelings for him so I want to make sure he is who he says he is

I'm also talking to an guy named Johnson Sauret. He says he in Iraq and his wife died in June. But I seen on Facebook his pic by an different name.... Michal Sauret. Plz help

Please, I need your help!I am being ruthlessly scammed by a company called, J & H Asset Property Management, Inc. I live in a mobile home where the park is managed by this co.I am going on 81 ,a 100% disabled Vet from Vietnam.Last winter I was very sickand was behind on my space rental. I explained to them I have a VA Compensation settlement coming in soon and to please work with me. " Sure no problem ", about 7 days later I receive a 3 day notice to pay in full plus a 60 notice to vacate.WHAT?
I read the reviews of this Co.and it sounds like it is a good business kicking people out of their own homes.I will be homeless if they succeed.
I really need help as time is running out for me.
THANK YOU, JIM THE VET

The American Bar Association has special help for veterans. You may want to report the company to your county consumer protection or housing authority, or contact your state Attorney General’s office.

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