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Loan Mod Scam: More Details
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March 13, 2009
The two New Jersey-based companies accused of defrauding homeowners in a loan modification scheme have had 23 consumer complaints filed against them with either the Division of Consumer Affairs or the Better Business Bureau.
Prosecutors said Hope Now Financial presented themselves as if they were affiliated with the non-profit foreclosure prevention organization Hope Now Alliance. The company allegedly colleted $98,000 from 80 individuals or couples who were promised loan modification services that were never performed. One woman who was facing foreclosure had a total of $1,500 electronically drawn from her bank account, but received no help from the company.
The registered owners of the companies, Donna Fisher and Brian Mammoccio, are both named as individual defendants along with their companies, Hope Now and New Hope Modifications.
Find out more at NewJersey.com
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