Friday, July 8, 2011

Truman Foreclosure Assistance

Truman Foreclosure Assistance is a loan modification company that has since went out of business. They have been sued by the FTC and has tons of complaints from consumers. When this company started up they grew very quickly. They looked like a legit company being accredited by the BBB and members of the chamber of commerce as well as Dun and Bradstreet members. This company was a huge scam. They were contacting people for loan modification programs. They charged them a fee and took their money and ran. I just checked their website at http://www.trumanfa.com and it is no longer there. They had a news piece saying how they help people and blah blah blah. The FTC has now come up with a law stating that it is now illegal for people to charge up front money for loan modification programs. It is really sad that companies are taking advantage of this economy. People are losing their homes and paying thousands of dollars that they do not have to help save their homes. Also their affiliate program is a complete scam as well. I applied for a job through Craigslist for them and was contacted by someone. I was told I can make tons of money. They didn't charge an up front fee to get involved HOWEVER, you needed to pay $500 a week on their system. The $500 came from 50 leads a week, the leads were $10 each. Then this person who was running this program said that they didn't get paid for these leads which was total B.S. I got the email address they wanted me to send the money to via Paypal and it was the guy who ran the affiliate program. He was laundering money through Paypal. They wanted you to get a 800 number so you looked legit which is not true anymore. So this just shows that not only did Truman Foreclosure Assistance scam consumers but scammed their affiliates as well. They quickly earned an F with the BBB because they have 78 complaints filed against them and have not responded to 54 complaints. If you go to ripoffreport.com you can see tons of complaints from consumers that have been contacted by them. I really want to let everyone know that if a company is charging up front fee's do not pay them and report them to the FTC. There is another scam out there called loan forensic audits. Some companies that do this are in fact legit but there are other companies that are not. This is how companies are able to charge an upfront fee. What they claim to do is to look over loan documents and find violations in them. They will then contact the loan company and renegotiate terms with them. Some of these companies are doing exactly what Truman did and that is take the money and run. I am advising everyone to check the company out. Make sure it is in fact legit. I do not advise going solely on the BBB report. You can type them into google and see what comes up. Also as stated above you can go to ripoffreport.com and see if they have any complaints there. I will say large companies will have complaints but read them and see what people are saying. If the company has complaints related to people paying and not receiving services especially if there is more then one you may want to rethink going with them. Sometimes the company will respond to the complaints wanting to rectify the situation which is a good sign. Use common sense though, if it sounds to good to be true it probably is.

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