Nation Mod Prep
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May 16, 2011 In mid-2010, I read an article about mortgage load modification programs. I owe approximately $115,000.00 on my home at 8.99 adjustable rate. As of my last tax assessment, the property is worth $40,000 less than I owe on it. So, I checked out NMP with the BBB, etc. and there were no complaints.

I contacted NMP and they assured me that even though my income with my new job had just started would $85,000 in 2010, they could get my loan modified. They took all of my Personal/financial information and sent it to their "underwriters." I later received a call from the salesperson saying that the underwriters were certain they could obtain a loan modification from HSBC mortgage Services; which would modify my loan interest rate and that they could even manage a reduction in principal loan amount.

After three denials from HSBC, The underwriter, Jane smith, submitted a refund request to that department on 2/25/2011. I since have not heard from nor received my $2000 refund. I have documentation stating that they guarantee results, or they will refund my money, and that they would do so within a thirty day time period. I can provide copies of the correspondence and contracts as needed. I also re-checked the Phoenix AZ BBB and there are 35 complains concerning NMP’s behavior. Twenty Two are unresolved! They appear to be using a loop hole in the contract you signed with them to avoid givin customer refunds.

"Here is the response from NMP which is an outright lie!

MESSAGE FROM BUSINESS:

To Whom It May Concern:

Thank you for allowing us to share our side of the story.

According to the documentation submitted to this office by the complainant, there was a vast discrepancy in the total amount of income originally stated versus the supporting documentation provided. Without disclosing the actual amounts, the total amount that was understated was $1,866.20 or a difference of 29%. By understating income, it exagerates the hardship of an individual's situation.

According to the agreement executed by the complainant, specific to situations such as these, in the event there is a variance of this nature, it clearly states that the client is ineligible for a refund.

Unfortunately, had this office been provided accurate information at the inception of this process, we would not have take this individual on as a client.

Should you require any additional information, please do not hesitate to contact this office at any time.

Very Truly Yours,

Customer Service"

The Arizona office for NMP is apparently gone out of business. Their phones are disconnedted and Underwriters shuch as Jane Smith cannot be contactted. It appears they skipped town. They now have a facebook page that has a Corona California address. The owners appear to be Jason Glasser and David Willner. I worked with Jane Smith as my underwriter.

I lodged a complain with th Phoenix BBB

Are there any class action suits against NMP yet? I want to join one.

Read more: http://wiki.answers.com/Q/Discuss:Is_national_mod_prep_a_real_buisness#ixzz1alIUtdNb