Posted by Lynne/OR on 11/5/09 5:40pm
Msg #310014

Liberty Law Firm-Loan Mods..g/b/u?

Has anybody heard of or done loan modifications for Liberty Law Firm? I was just called for a 13 page loan mod. tomorrow afternoon. Here is their address and website:

3105 E Guasti Road
Ontario, CA 91761
www.libertyfirm.org

Any comments on this company would be appreciated, thanks!!

Reply by Lee/AR on 11/5/09 5:57pm
Msg #310018

This confuses me endlessly. Why would a law firm be doing Loan Modifications... ya' know...where an actual loan is modified? Banks modify loans. Law offices can seek loan modifications by taking an APPLICATION for a LOAN MODIFICATION from a borrower and then try (maybe) to work it out with the Lender . At least, that would be my take on this.

Reply by Lynne/OR on 11/5/09 6:02pm
Msg #310019

Sorry, I should have clarified..the appointment tomorrow is just to sign the initial, preliminary documents, not the final loan mod. agreement.

Reply by CF on 11/5/09 6:10pm
Msg #310020

Check your state laws....most states consider this illegal. It can still be illegal even when a law office is involved.

Reply by Shoshana/AZ on 11/5/09 6:12pm
Msg #310021

That's exactly what they do.

I have done work for them. They are honest with the client. I know of at least one case where they were successful in stopping a foreclosure that was 9 days away from auction.

Reply by Lynne/OR on 11/5/09 6:16pm
Msg #310023

Re: That's exactly what they do.

Ok, thanks Shoshana. Do they pay within 2 weeks?

Reply by Shoshana/AZ on 11/5/09 6:50pm
Msg #310029

Re: That's exactly what they do.

usually 2-4 weeks. Who's your rep?

Reply by Lynne/OR on 11/5/09 6:52pm
Msg #310030

Re: That's exactly what they do.

The rep who called me to set up the order is Keali'i Mahoe...not sure how that's pronounced

Reply by MW/VA on 11/5/09 7:47pm
Msg #310036

Interesting since the company is out of the US. I suppose that's a moot point, because you have to comply with the laws within your state.

Reply by Linda_H/FL on 11/5/09 7:55pm
Msg #310038

That's Ontario, California n/m

Reply by MW/VA on 11/5/09 8:02pm
Msg #310042

Re: That's Ontario, California

Oops!

Reply by NewPhoenix on 11/6/09 12:45pm
Msg #310108

Liberty Law Firm-Loan Mods..g/b/u? Definately "U"

Yeah I mean Ugly. He called me several times to do a "loan Modification" for him. I asked him at least three times was it a Loan Modification or an application and he never really gave me a straight answer. So I backed off and he said he would send me the package to look over. I reluctantly agreed to do it for him before I got it (thinking I could cancel). The time was set for 8:00am the next morning, nearly an hour's drive away! I had to leave for another appointment before I got the package. By the time I got it I could see what it really was - a $3500 up front application! By then I could not reach him and there was no number for the borrower.
Since I gave my word the next morning I reluctantly drove out there thinking if there is any legal way to at least hint to the borrower that she should consider it carefully but came up with nothing. I was saved by the borrower because when I knocked she pushed the storm door open while pulling the house door closed behind her (making it obvious that I was not to go in) and stepped out on the porch. She immediately said she was not sure about this and did not want to do it. I simply said ok, exhaled, turned on my heels and left. The only two words out of me were Hello and ok.
By the time I drive the forty miles back I get a call from him asking if it was done. I told him what she said and he got upset. I said I still expected to be paid since I drove nearly 40 miles each way and well as the time and printing and he got even more angry and said he was not going to pay a dime. I calmly informed him that I would send the package to the State AG.
I have done some REAL Loan modifications and these are not, and I will not do anything like them. Especially when they want $3500 up front.
Can I give MY opinion as to whether anyone should do these for this company - an emphatic NO! Again, the $3500 up front is your key indicator as to whether you should do these or not. A REAL Loan Modification has NO money involved at all - other than a reduced payment to the borrower and/or extended length of time.

Reply by MW/VA on 11/6/09 2:27pm
Msg #310122

Thanks for reporting

that this is one of the loan mod app. scoundrels. It is amazing that they almost always have the words "law" or legal" in their name, since this activity is now ILLEGAL in many states, including CA.

Reply by Lynne/OR on 11/6/09 4:11pm
Msg #310129

Re: Thanks for reporting

Thanks for the helpful info...wish I would have been smarter then to accept this signing. I showed up to the borrowers home, and they literally had NO idea what was going on. They attacked me with "why are you soliciting us for a loan mod?" I explained that I was just the third party notary, left them the copies, and bailed. Learned my lesson!