Arizona Loan Modifiers – Be Careful Who You Contact
Thousands of people in Arizona need help with their mortgages, as they are simply unable to keep up with their payments for several different reasons. Given this reality, consumers are being inundated with solicitations and advertisements that promise a ‘quick resolution’ and an ‘easy end to your problems.’ The old adage applies – if something sounds too good to be true, it most likely is.
That notion was reinforced recently when the Attorney General of Arizona filed a complaint against a home loan modification company last week. According to an article filed by Bizjournals.com:
“The case filed Monday in Maricopa Superior Court alleges that Santoya Financial Co. LLC and its two executives, Thomas J. Montoya and Robert Sanchez, advertised and promoted the firm as having an affiliation with the U.S. Department of Housing and Urban Development, which it does not, according to the filing.
As part of the complaint, the AG alleges that Santoya Financial, located at 2225 W. Whispering Spring Drive in Phoenix, charged fees for services that consumers could access directly for free.
According to court records, Santoya Financial began advertising loan modification services in March to consumers who were facing foreclosure on their homes. Sanchez was featured on a Phoenix television station in April and allegedly represented that his firm was “working with HUD while providing loan modification services to consumers,” the lawsuit stated.
Santoya charged consumers $1,199 plus the equivalent of one month’s mortgage payment, the lawsuit asserts.”
As you can see, the unfortunate reality is that the home loan modification industry is quickly becoming a dirty business where people will take advantage of consumers’ desperation. Whether the officers of this company are guilty of what they’ve been charged with remains to be seen, but this is far from the only problematic practice in this new industry. Rather than risk your future, contact a team of home modification attorneys with a firm that’s been practicing law in Arizona successfully for many years. Contact one of our licensed attorneys at Phillips & Associates to get the process of reviewing your situation and working towards a solution started today.
Tags: arizona home loans, attorney general, home loan modification, home loan modification companies, licensed attorneys