Legal Question in Consumer Law in California

Refused a refund from Loan Modification Company...

Hi,

I hired a company called ''The Firm'' to work on modifying my first and second morgages on my home. After four months of waiting both lenders sent me a letter stating that I don't qualify for any modification because I am not delinquent on my payments and my rates are already low. The one thing I wanted to do was to modify my principal because I'm about 120k upside down, but they will not settle. ''The Firm'' has refused to refund me $6500 because they claim their still working with my lenders. I have spoken to both lenders who said the request have been closed for weeks. What's the best way to receive my refund from these guys, I even have a signed document with the fee agreement stating they will refund me my $6500 minus a $750 admin fee. Please help, I have enough to worry about...


Asked on 10/14/08, 8:32 pm

1 Answer from Attorneys
Thomas Mauriello Mauriello Law Firm, APC

Re: Refused a refund from Loan Modification Company...

$7,250 is an awful lot of money to pay someone just to negotiate a new loan. It sounds like "The Firm" (hopefully not as bad as the "Firm" in the John Grisham book and movie of the same name) may be in breach of their contract, if they did not perform as represented. It all depends on what the contract states. You should have it reviewed by a lawyer.

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Answered on 10/15/08, 12:38 am


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