Brokers & Real Estate Agents are Now Scamming Homeowners in Foreclosure

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
First your wonderful real estate agent sold you a home you cannot afford and then her mortgage broker buddy placed you in a fraudulently, toxic loan that has literally eaten you alive. Now, these same snakes want to help you “cure” your woes with their special foreclosure anti-venom knows as “loss mitigation” or “foreclosure prevention”.

Welcome to the new “foreclosure scam” that is sweeping the nation, scamming gullible homeowners and infiltrating every search result on the internet.

Their advertisements say, loss mitigation specialists, 98% success rate, save your home guaranteed and desperate homeowners are being sold their snake oil in record numbers, yet again.

Wake up America!

I get these calls and emails daily.
My husband and I just met with the Firm Loans in Rancho Cucamonga, who said they can do a loan modification for us for $2500. We are in a horrible negative amort. loan and need some desperate help before we end up 115% LTV and in foreclosure. We live in Rancho Cucamonga and are interested in gaining information from your expert knowledge and hope we could be one of your ten lucky homeowners to participate in your group.​
Hoping to hear back,​
Andrea and Jonathan​
Last week I got a call from a woman in San Bernardino that hired the same ”agent” that sold her property to her and handled all her mortgage needs over the years. She paid this “agent”, $3,000 so her credit would not be damaged during the foreclosure process and so that she could “buy” another home instead of rent.

Yes, you heard this right. Somehow this “agent” was going to “magically” protect her credit during the foreclosure process and sell her another home once this home foreclosure on her. This San Bernardino homeowner bought this BS, like she has bought everything this “agent” has sold her for the last 10 years.

After I got off the phone, I did a quick Google search and discovered that this agent in fact is not an agent and his license was revoked for fraud in 1996 and was incarcerated in Federal Prison from 1196-1998.

I called her back and let her know what I found. She was flabbergasted. She came to see me 2 days later and brought me her loan documents to be reviewed for fraud and predatory lending. You guessed it, her mortgage had multiple Truth in Lending Act violations, RESPA and fraud. She has no retained a lawyer on contigency and may save her home “legally” and “safely”.

I never got her $3,000 back and this man has reportedly skipped down south last week to Mexico after it was found out that he scammed over 100 homeowners and is a “wanted” man by the FBI.

Below is a list of some of the companies that many of these scammers work for:
  • Freedom Foreclosure Prevention Services
  • US Loss Mitigation
  • California Foreclosure Solutions
  • US Home Savers
Many homeowners can either do this themselves (25 homeowners have saved their homes with this forum as PROOF) or they can hire an attorney to properly represent them in the process.

The last thing you need is an out of work, desperate mortgage broker or real estate agent that needs to pay their BMW payment helping you.

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
That is so appauling......what these agents are doing to these people......charging someone 3k and claiming they, like they are Gods, can prevent credit damage during a foreclosure.......that is as bad as the mortgage brokers that claim they can sponge your credit clean, do the good ol rapid rescore and raise your fico by 100 points instantly, of course for a fee....:mad:
It really bugs me that these bad apples give the industry over all a used car salesman feel.......very sleezy.

At least there are some of us, albeit a small percentage, that believe in doing good things, and put our heart and souls into helping can tell the distinct difference, we are broke but feel rewarded everyday and they are living high off the hog but have absolutely no conscience....


Successful Homeowner
This is so heart breaking.

They just don't stop, do they?

There has to be something that can be done by the government!!!

About the only things that I see that is being done is what you are doing, Moe, that is educating the consumer . . . it's just so deplorable.

I can't even express my disgust!

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
I is terrible Sabine. I am sure there may be good agents and brokers that may be offering his service and their intentions are good. They may be upset that I posted this. But I need to get the word out to homeowners that there are many that are not "good" and in fact are the same crooks that scammed them when they sold them the loan or home.

Sure there may be some good agents and brokers helping people but in reality, if they are now working hand in hand with an attorney, then their attempts to be of service are actually being a disservice to homeowners.

So with that said, I recommend that a homeowner hire an attorney before any Joe, when considering hiring someone to handle this for you. Because you know Sabine, it is by no means easy negotiating with your lender.


Successful Homeowner / Loan Safe Guide
You know, Moe, I called a few of these companies and was told that they had a 98% success rate, just pay $2000 and they can save your home from foreclosure. The guy I talked to was named Jeremy and his company was one of the companies you listed above. I think the only thing that saved me from paying one of these yahoos to do a loan mod for me was this site. If I hadn't found I would have been one of those homeowners out of luck and out of $$$.


LoanSafe Member
Hi Moe, I'm ready to order a forensic mortgage audit but I'm worried because my cousin was the loan officer. I'm just wondering if I go through the forensic mortgage audit and they find all these RESPA, TILA, ECOA violations, and I end up hiring an attorney to sue the lender for predatory lending, will my cousin be in trouble as well?