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New Life is a Scam
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In California it has been illegal to charge any money before getting a real loan modification since Oct., 2009. : Section 10085.6 of the California Business and Professions Code and Section 2944.7 of the California Civil Code.
The Federal Trade Commission also issued a new regulation about mortgage loan modification businesses along the same lines. No company can require (or even ask) for any upfront payment for this kind of work as of Jan 31, 2011. This applies to the entire country.
There are non-profit organizations that provide the same services in your community for free. Check those first. No modification should take months and cost you thousands of dollars which is what the scammers are charging. The first thing you can do is talk with your lender. If your lender is one of the big ones, then get an organization in your community to help you.
Don't pay the leeches one cent. I work with clients who have been scammed for a non-profit advocacy organization. I have seen all kinds of mortgage scams, in many states and have helped clients file formal complaints against these companies. If a lawyer is involved, then I file with the Bar Assn. for the state in which the lawyer is licensed.
If they try to get you to sign anything, just watch. They do not sign. No one from their company signs. Not a binding contract and never give out your bank numbers. These scammers will take what they can from your account.
I just checked out this company for a client and found an F rating from the BBB and all the signs I mentioned above that this company scams people and gives them nothing.
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