ShortRefiNow.com Is a Scam, Better Business Bureau Warns
At a time when thousands of homeowners are facing foreclosure and are desperately trying to hang onto their homes, bogus loan modification companies are continually popping up to scam homeowners, taking their money without actually doing any work to modify home loans, reports KCRA Sacramento (‚ÄúLoan Modification Company Is a Scam,‚ÄĚ March 31, 2009).
Most recently, the Better Business Bureau of Northern California has issued warnings to homeowners about the Roseville-based company ShortRefiNow.com, an unlicensed loan modification organization that has reportedly stolen thousands of dollars from struggling homeowners.
Kris Pinkney, one of ShortRefiNow.com‚Äôs clients, gave the company $3,000 upfront to modify her mortgage. When she contacted her lender later to see how the modification was going, her mortgage holder told her that ShortRefiNow.com called and asked a single question: ‚ÄúHow do you do a refinance?‚ÄĚ
When Pinkney attempted to follow up with ShortRefiNow.com about her mortgage modification, she got the runaround. ‚ÄúThey said, ‚ÄėI’m not sure who‚Äôs taking care of it. The person taking care of it had emergency surgery,‚Äô ‚ÄĚ Pinkney said. ‚ÄúI knew ‚ÄĒ you know when someone‚Äôs lying.‚ÄĚ Eventually, Pinkney did get a portion of her $3,000 payment back from ShortRefiNow.com.
Other homeowners weren‚Äôt as fortunate. According to the BBB, 14 other individuals who filed complaints against the company and paid between $2,600 and $5,300 upfront to have their mortgages modified never received the promised services or any payment refunds.
In February, the California Department of Real Estate issued a Desist and Refrain Order against ShortRefiNow.com, demanding that the company stop performing any and all acts requiring a real estate license until the company obtains that license, KCRA reports.
Although ShortRefiNow.com assured KCRA that in response to the order they were looking for attorneys to address their client‚Äôs claims, it now appears that ShortRefiNow.com has vacated its office.
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