Most of the responders seem to have been distracted by the car salesman angle and missed the fact that these law firms have set themselves up to take advantage of homeowners who are looking for help with loan modifications. I recently got a mailing that looked like it was from GMAC, who holds my mortgage, telling me that I was under water with my mortgage and they could help me modify it. The outside was stamped with big letters saying something like Don't Lose Your Home...Final Notice. I complained to GMAC and only then realized that the mailing was actually from some sleazy law firm that has nothing to do with writing mortgages. They just want to bilk you for some "service." I'm a pretty smart person but the mailing had GMAC Mortgage in big bold letters in at least 4 places on the letter to me. Only in teeny, tiny letters at the very bottom (that got obscured when the letter was torn open because the glue was over the small print) did they disclose the name of this law firm. I called the 800 number to complain and the law firm laughed at me. Said what they did was completely legal and too bad if I didn't like the mailing. (Which was based on false information any way since I am almost done with my mortage and have no problem meeting the payments.) They wouldn't tell me how they had gotten my name and refused to take me off their mailing list. What a con game!

Take responsibility for your own actions people!!! You got the original mortgage. You purchased more than you could afford. Now Your crying and blaming the mortgage companies. No one made you sign on the dotted line, you did it on your own. STOP SPENDING MONEY YOU DONT HAVE!!!

How about this - a simple law requiring that all loan application materials, contracts, and other documents be printed in at least 12 point type, and worded at a high school reading level, with no undefined specialized legal or financial or real estate terminology.

Oh for heaven's sake! Doesn't ANYONE of you educate youselves re loans and purchases? Doesn't anyone adhere to Dave Ramsey's simple "baby steps" to conquering debt? I don't worry about interest and how high monthly payments are. I pay cash. Cars, property, Christmas presents. If you can't pay cash, you can't afford it. Simple. If you get into trouble because you spend more than you make, you need to live with it.

I worked in car sales for 6 months and left because of how sleazy EVERYONE was. And I worked for the most reputable dealership in my state. Car salesmen have themselves convinced that what they are doing is ethical. ITS NOT!!! They dont fix or manufacture cars. They don't lend people money. They mark up cars for 20%, they add points to the interest rate that people qualify for convince them to sign for it (then the bank hands them a cash bonus), and they try to hld onto factory rebates if the customer is unaware of them. Car salesmen sit across a table from customers and try to take as much money from them as possible. Now I have an honest job and work for a wage. I'm not rich, but I can sleep at night. Oh, and by the way. I didn't leave the dealership; I was fired because I helped a customer get better financing, which cut into their profit. No one should ever get dealer financing because the government has made it legal for them to add interest beyond what you qualify for...AND IT IS PERFECTLY LEGAL.

If something sounds too good to be true it probably is!

Solution! I cut up the few credit cards I had over a decade ago and the banks that got nasty about closing accounts, etc. simply got "stiffed". By the time they got done screwing me, my credit record was shot anyway. Now my wife and I operate on cash and when the rare occasion for credit arises (very rarely!), we use local sources outside the "banking industry". We own a modest home (nice, just not fancy) in a nice neighborhood. We have two vehicles,
one 18 years old and the other 25 years old! I do most of my own repairs. We have a checking account at a locally owned independent bank along with a savings account. I have an IRA through a federal credit union. We may not be impressing anyone with fancy "toys" but we're not losing everything either!
We are retired and quite happy.

I'm a salesman in the auto industry...one rule...."Buyers are liers" I'm lied to everyday that people walk into my work.
There is no shame in making a profit. To all the people that are criticizing the auto industry, let me ask you this question....Do you get up each morning and go to work for free? I know I don't. We all go to work to make money.

wow ..what poor journalism..he has lost the 'bite' .miserably failed delivering the message.I know of guys in the car industry who have come from varied backgrounds and with college degrees and who communicate with all levels ethically and responsibly. I have no problems with car sales people because I am no dumb.!

Most of these comments refer to salesmen, lawyers, and loan officers as bad people. OK, to each his own. BUT, are you going to pay cash for your next home? If not, why would you go to a loan officer, if they are so crooked? You going to build your own car? If not, how could you go to a sleezy dealer? Oh, lawyers are slime, too, but what happens when you are scammed online, etc.? You going to fight a dotcom company in court, in another state yoursef? Wake up, people! Not every person is bad, and if you still believe they are, by using their services, you are hypocrites!
PS- if you didn't read your mortgage documents, but signed the line saying you did, who is at fault for not understanding the wording? How is it a lender's fault for you signing your own name?

Being an ex professional car salesman of 7 years and now being in the mortgage industry people need to understand that although the black cloud is over both industries, they are both industries that are needed.. Are there "bad" car guys of course. Are there "bad" mortgage guys of course there are.. There are bad apples in ever tree and people need to understand that industries such as the car business/mortgage industries have very professional representatives.. If a representative gives you a bad vibe.. then don’t do business with them its that simple.. customers feel that they are going to get taken advantage of, what exactly does that mean? does being taken advantage of equal profit? ..People need to get in their heads that PROFIT is not a bad word.. in fact the lack of Profit in major industries is what is driving this whole recession train... here is how you make an honest profit.. make a friend during the sale.. people will pay more if they like you. if you don’t like your particular salesrep and you still buy a car, then that’s a bad job on you not the salesman!.. you are not held at gunpoint even though sometimes it feels that way.. the doors are unlocked.. I never had lie, cheat or steal to sell a car.. if you want a car sale of a car to go smooth.. DONT LIE TO YOUR SALESMAN.. AND DONT FORCE THEM TO LIE TO YOU..

The politicians NEVER get it right. Making it law to not be allowed to charge for a loan modification up front plays perfectly into the powerful banks lobby. It means, simply, that law firms would be able to charge even higher rates forcing only the wealthier among the hardest hit to afford such loan modification representation. Don’t you get it? US citizens are powerless against the powerful bank lobbies. The president of the USA, Barry Hussein could force lenders, with a signature, to turn all double-digit, adjustable prime residential mortgages into 3%-6% fixed interest rates, but does he do it? No. Why? Because the banks are SO powerful that they, while being bailed out mind you, are telling the president what to do ~ and Barry Hussein dances their dance. The proof is in the pudding; lenders are not granting loan modifications. Why aren’t they? Because the Democratically controlled Congress allows them not too, though I doubt it would be any different were the Republicans controlling things. Lenders ARE being bailed out. What does the US taxpayer get for it? Rejection of their loan modification applications, that’s what. Government loan modification programs are designed (and promoted) by lenders, (Do you know any Congressmen or Senators who are mortgage experts?) and lenders…, only allow a 5%-10% reduction in ones monthly mortgage payment (whether privately applied for or government applied for). Why? Because if the word gets out, (which happens quickly in this internet age) that a private citizen applying for a loan modification directly with a lender, gets more than 10% off their monthly mortgage, would mean that the more than 80 million mortgage holders in the USA would besiege their lenders rendering this bailout nothing more than resembling candy money for babies, (ie, a few dollars). There is a famous May 6th article in Newsweek magazine (“Senate moves toward easing mortgage terms” by Ann Flaherty) pointing out the Hope (loan modification) program had granted (up to the writing of the article on May 6th, 2009), just one loan modification, (Just 1!), 55 under consideration, from over 400,000 applied for. The director of Hope also had previously been interviewed on MSNBC and revealed at the time, “That not one mortgage loan modification had been completed” and (unbelievably) MSNBC lost the interview the next day. But enough people saw it that the cat had been let out of the bag. Lenders force people who have excellent credit to ruin their credit in order to qualify for a loan modification. Check it out yourself. Call a lender and ask for the qualifying factors. They will tell you one has to be 60 days late on their mortgage, rendering bill payers into an economic prison due to circumstances beyond their control. This administrations handling of the mortgage crisis is a joke, perpetuated by the lenders themselves who are laughing at the American taxpayer. The USA really has become a banana republic in the last six months… Too bad...

It is truly funny how many car sales people are so offended by this article. I do agree that I would rather work with a car salesperson than a lawyer, mortgage broker, etc. BUT come on now guys. When my wife first graduated college in 96 she wanted to buy a Acura Integra. The sales guy at Ceritos Auto Square put numbers together and told her the payment would be $900 a month. Are you kidding me with that. I told the guy he was crazy and he said it was a starting point. So I told him our starting point is $1. Then I got up and we walked. The car industry still has a ton of sleaze and the owners of the dealerships are usually the ones driving the sleaze. Get off your high horse and realize that a car salesman's reputation is based off of past activity. And the best way to predict future activity is to look at past activity.

To all the car salespeople that have replied to this article saying how discusted you were with the negativity put on car salepeople in this article read it again. The only thing the writer mentions is that the add that the sales company puts out asks for and I quote ""LOOKING FOR CURRENT OR EX CAR SALESPEOPLE … WE HAVE SEEN THESE TYPE OF PEOPLE DO VERY WELL!!! Applicants will be taking all in-bound calls," the ad says." and that Rick use to be in car sales. What he is trying to say is why would you want somebody that is not in the mortgage business and trained to know to handle this sort of thing help you with your mortgage. As one of these readers put it you would not go to your bank to ask them what the best way to bring down the price on a car when talking to a car salesperson. You would talk to another car salesperson to get the pointers you need. What he is trying to get through to everybody on that add and by talking to the owner of the company is the add should have been looking for out of work mortgage brokers that know the system better. Also car salespeople are crooked but not all of them. Yes there are bad ones and good ones just like every single industry out there. I'm sure every single person that responded to this article has somebody or a group of people in the industry they work in that is not honest with the public they deal with as they should.

The words of Bob from WI:
"Again , this story begs the question: where the hell is Congress and our elected representative to protect us from these predatory sharks? Someone, answer that question."

Bob - you are responsible for yourself. Why don't you look out for you and the ones you care about? Why do Congress and our elected representative [sic] have to keep you from doing something ludicrous with your money. Dang it people - be responsible for yourself....

This is hilarious!!! Being an ex car salesperson myself I can say that at this very moment I personally know about 5 guys that are doing loan modifications with this VERY SAME tactic!!! It is ALL BS!!!! Like someone mentioned before DON'T BE DUMB PEOPLE!!!! If it sounds to good to be true it probably is!!!

The point of the Car Salesman section is that they are looking for people with experience in high pressure sales tactics. It was the company that was specifically recruiting current and former car salesmen, specifically for their bad reputation as a group.

While it really has nothing to do with this article, if you want to clean up the image of your profession. Do something about keeping the kind of people that give it a bad name out of it. Use those sales skills to lobby your legislature to create tougher laws on fraud and to do more to prevent people convicted of it from working in positions of public trust.

Unfortunately most of you have missed the real point of the article which was should you buy a mortgage modification from someone using high pressure sales tactics. Maybe it should have stated never buy anything from anyone using pressure sales tactics.

This guy almost sounds like our President strong arming congress on a health bill that will continue the fiscal irresponsibility he has shown since being elected.

OK PHIL FROM LONG BEACH, GREAT RESULTS, NOW WHAT IS THE NAME OF THE FIRM WHO HELPED YOU..SPREAD THE GOOD LUCK.....

never, ever deal with anyone that cold calls you. Never give your information over the phone. As far as the statement "why isn't congress doing something", if you watch & listen to our glorious leaders it seems to me that very few of them have any common sense &/or are grabbing whatever they can for themselves

Pointing the finger at any other person for being wronged or taken advantage of is just an admission that you made a mistake and it is an attempt to transfer responsibility to others. In this day and age of easy access to information there is no excuse for the consumer. The problem is that the average person on the street still thinks there is a free lunch and they will jump at a too good to be true offer time after time instead of walking away from the deal. Then we they get taken they point the finger at anyone other than themselves for making a poor decision. It this day and age with access to information so eaisly available, there is no excuse for your own ignorance. I am betting this will offend many but when will we all start taking ownership of our own actions?

Alright already, enough on the car sales professionals of the world! As a former Sales Manager interviewing HUNDREDS of salespersons in my day, it would be interesting to know, WHAT OTHER professions these "Mortgage Car Salesmen" cite on their resume. It may interest folks to know, 95% of automobile sales professional claim a background of various industries and previous job experiance. Here are a few stats that may just blow your mind...
87% of Car Salesmen are Veterans
35% of Car Salesmen have a previous BANKING
history
78% of Car Salesmen have over 10 years in the
business and claim a VERY LOYAL following
of repeat and referral customers
77% hold degrees and 60% have a better education
than your banker, your local nurse, your
child's teacher, and possibly even your
attorney (just WHERE did you say that degree
was from , Counselor?)
Hope this helps clarify some things. By the way, having been out of the automobile business for 2 years now, I STILL have loyal customers who call or e-mail me for advice or guidance when looking for their new car purchase. So please, let's give our Automobile Sales Professionals some respect and courtesy. They are simply trying, (as we all are), to provide for themselves and their families in very difficult times.

there is no such thing as an upfront payment for any type of loan. be aware and check with the BBB or your local authorities on any company that asks for monies first. usually they use a western union or moneygram as an "escrow" account which is not true. anyone can get money from those establishments with a fake i.d. or a tracking number. i was just a victim of an internet crime and all i wanted was a personal loan and it cost me 5 grand. there are scam artists and ponzi schemes every time your phone rings and they ask for money! plain and simple. btw, i sued moneygram and got my money back!

If you really want to be disgusted about scams then read up on high frequency trading and the worst part is that it's legal.

File a bar complaint against Heyman and any attorney involved in BS like this. Most states strictly limit the role of non-lawywers in a legal business.

There are a lot of attorneys who are going out of their way to help people in bad financial shape and/or were mortgage scam victims. Jerks like Heyman should be put of business quickly--and lose their law licenses in the process.

ATTENTION!!! although the reporter does a great job of pointing out a car accident he has done nothing to help. YES the mod world is in bad shape. YES call any DRE modeled or attorney modeled company and you will get told inacurate info.

But no one has tried to fix the problem,"The California Department of Real Estate recently warned consumers" great what have they done? much like this reporter nothing! Go to the DRE website the DRE's has a "listing" for "no objection" fee agreements...
what does that mean... NOTHING!! reference their ownterminalogy at the bottom of this "list"
"The Department of Real Estate does not approve, endorse, recommend or make any representations about any of the agreements or their terms, or any aspect of a licensee’s business activities. Consumers wishing to contract with a real estate broker for loan modification or any other similar or related services should carefully review the agreement(s) and consider obtaining independent advice before signing an agreement(s) or advancing any fees. Consumers should also consider comparing the services and fees offered by other licensed brokers on the list."

there is no where to turn and reporters on the prowl for blood will find it. For every mod that is sold incorrectly there is one done correctlty. I dont know this law firm but I can only assume that they have helped more homeowners since begining their business in mods than this reporter ever could. Instead he uses his venue to point fingers.

Can he explain where the missing video that was on MSNBC in december disapeared to? It was aninterview with the government hope now director whom stated "we have not completed a modification" 24 hours later the video couldnot be found on MSNBC... only a new video claiming they estimate to save over 17000 homes in 2009!?!? Who ownes MSBNC?

I hope mr Sullivan's cheap interpretation of journalism continue to pay his way god forbid he end up selling cars and work a full 12 hour day.

COMMISSIONED SALES PEOPLE IN GENERAL KEEP THE WORLD TURNING.
WHAT IS THIS ARTICLE ABOUT?
THE REPORTER, BOB SULLIVAN IS CONFUSED.
HOW ABOUT WE CONSIDER THE SOURCE?

journalists are the most untrustworthy people, followed by doctors lawyers and politicians.

Please correct the list of liers as follows: Our President, The Congress, Most of the news media, Most Attorneys, My Third Wife, The Customer, Then The Car Salesman, after he`s found, the Customer has been lying.

Shoe me an honest car salesman. I have yet to see one.

For all of you asking, why is the government not protecting us from this? I have to wonder, are you the same conservative right wingnuts that also want the government to get out of your lives all together? I bet you are.

It is a shame that legitimate attorneys who are out there and are helping are being crucified. If the banks were really looking out for the homeowner in trouble then this business would't even be a thought but they, on many occassions, do not. I am a paralegal that works for an attorney who specializes in real estate law with a background in finance. Attorneys have helped many people. If you are in need and are looking for help an attorney is a good way. Make sure you are dealing directly with the attorney and his/her office. Aslo make sure that they have done foreclosure defense as they will have to answer your summons and complaint (in judicial foreclosure states). Also, if possible, an attorney that does bankruptcy also (an option). Do not let anyone tell you not to pay your mortgage or that you do not need to answer a summons and complaint. Lawyers are not allowed to silicit clients via phone calls or hospital beds(ambulance chasers). So, beware of people who call you to tell you they work for an attorney or their office and do not work with attorneys that do solicit you.

The reason why these types of former "Car Salesmen" are being drawn in to such criminal type activities has more to do with their failure to adapt, than to there success in there former field. I a Car Salesman, and have been so for 15 years. The fact is, old school car guys who are leaving the buisiness are doing so because the market has changed around them. Anyone who thinks that car sales is an ultra profitable, get rich type industry are very naive. The percentage of profit in an average automobile purchase is significantly less than in anything you will ever purchase. In my home state of Louisiana for example, the average profit on a car purchase is only 6.7%. That is several points lower than the tax levied by the state!!! MOST car salespeople are honest, decent, hardworking individuals. In 15 years, I have never lied to a customer. I have been lied to by nearly every customer I have sold a car to. People have no hesitation or remorse for lying to me or most salespeople. Given the amount of information available to the public, there is almost no way for a person to be misled.

BOB SULLIVAN, It's me, HARRY LIONS! I sold you a car. HOW'S THE CAR!

You RESEARCHED for three years before you purchased a vehicle from me.

I SQUASHED YOUR MELON!!!

IN FACT, WE WENT ON VACATION WITH THE COMMISSION I EARNED WHEN I SOLD YOU A VEHICLE.

THANKS BOB SULLIVAN :)

HURRY BACK, IT'S THE TIME OF THE YEAR :)

LOL! WHAT A FUNNY ARTICLE - If people weren't so stupid to buy homes they COULDN'T afford in the first place, we wouldn't be in this mess. But I do thank them since my company stock has only gone up and up!

I'm guessing that your one of those scared little people that come to the dealership afraid to talk to us. Then blame us for not being helpful. I have spent almost 20 years feeding my family in the automotive industry. Your refrence to car salesmen is offensive. Why don't you find a new industry to look down your nose at.

I think some are missing the "car sales" point here. The article is not stating that "car salesmen" are crooks. The article is stating that a company representing itself as a cure for mortgage/credit issues is not adverting for experienced finance/credit personnel but rather persons who are gifted in sales technique. A handyman may be very adept at fixing "things" but you would not hire him to "fix" your credit or finance issues. This hiring practice suggests that this company has serious issues regarding credibility, among them the hiring of skilled sales persons rather than mortgage experts, and is not a slam per se at car salespersons. This, along with other warning sign are what the
article appears to be pointing out IMO.

It's the lawyers involved in this operation that deserve the most ridicule, the car sales men here seem like just the tip of the iceberg.

Thanks Bob for your investigation you really confirmed what I have always believed it is really nice to know that we have people who care about other people and not just themselves. My first and second name is Skeptism I don't believe anyone who is calling me on the phone and stating they can give me a better deal to be quite honest with you. Be cautious your best bet is to like it is stated to contact a HUD agency do your research learn as much as you can be armed and dangerous with your knowledge. I got a loan modification from my lender but it took 13 months with a lot of sweat and pain but I just learned everything I could and a lot of trial and error own my end. It does not have to take you that long it was a learning process for me. Another good resource besides this website you are reading is loan.org they helped me a lot with learning about loan modification. Good Luck I will keep a watch and anything else I learn will pass it along.

"How about lawyers, doctors, policeman, they are the real crooks."..

Gee Professional care sales man..... Such a shame you have a grim view of the PROFESSIONALS who spent nearly a decade of their lives preparing for an honest career protecting or saving YOUR LIFE!
Like any area of life, there are bad apples, but they tend to be few and far between.

I would encourage you to be as transparent in your dealings with these professionals. When you next are in a surgeon's office for your colon cancer operation... be sure to introduce yourself and tell him "I know you're a crook and I don't trust you". After all he will be striving to fully educate you on your options for care.

Like Greg Taylor from Abingdon, MD, who says "Personally, I would NOT sell you a car as is my right and the right of any other car sales professional."....
Professionals like Doctors and Lawyers also have the right to decline your patronage.

So, I too will not operato on you or your family. I will happily send your sorry rear to the University of Podunk to get you out ov my life. And I won't even charge you for being the traffic policeman!

This article is an insult to sales professionals in the automotive industry. You stereotype them as bad people, yet you are one of thousands of internet writers free to voice your invalid opinions for the world to listen to.

Horrible article.

For those of you complaining about the label given to car salesmen, GET OVER IT! The fact is this company specifically targeted car salesmen in its job ads and the guy he talked to claimed to have been one. Thats why it was mentioned. I've been in the navy for over 20 years and we still have to deal with the "drunken sailor" label. No matter what profession you are in, there are some that will denigrate it. Get a thicker skin and stop whining.
I've dealt with both types of car salesmen, the ones that will say anything they can to get you to buy a car, and those that actually talk to you. Since I do my best to go into any situation as informed as I can be, I spot the ones who are trying to BS me. (I usually screw with them for a little while, or just leave if I'm not in the mood, but I NEVER buy a car from them). For those of you who are honest salesmen, good on you. You are the ones who get my business.

I receive 1 or 2 phone calls a day about refinancing my mortgage, lowering my debt, etc... (they have recently started calling my govt phone on base). One of the things I will never do, no matter how good it sounds, is purchase services from someone who is cold calling me (If I'm in the mood, I'll mess with them too). For those that get caught up in it and taken advantage of, my sympathies, but you should have known better.(If it sounds too god to be true, it probably is.) For those that are taking advantage of people in this way, I'm sure you will get your comeuppance.

It's too bad that car salesmen get such a bad rap, but it is a rap that is well deserved. Most, not all, car salesmen are lazy, lying D-bags that would sell their children to make a deal. That these guys are from the auto sales industry doesn't surprise me in the slightest. I have had the fortunate opportunity to deal with one car salesman that was honest and sincere, and I will never buy another car or truck from anyone but him. He is a rare gem in an industry chock full of scandel and corruption.

Again , this story begs the question: where the hell is Congress and our elected representative to protect us from these predatory sharks? Someone, answer that question. And why, with the healthcare bill isn't anyone talking about tort reform restricting FRIVOLOUS lawsuits and penalizing attorneys that file THEM. There are a lot of legitimate lawsuits that need justice, but a lot of the crap lawyers are clogging the courts with should be illegal.

I think everyone that is complaining about the car salesman part of the article needs to go read it again. The article was not written in a way to make car salesman out to be crooks the point was why would you hire a car salesman to modify your mortgage. The mortgage business is complicated with hundreds of different programs and a significant amount of legal ins and outs that only a mortgage expert should be dealing with. This is not to say car salesmen are not smart enough or good enough to work in the industry but why would you not want to modify your mortgage with a mortgage expert? If I was buying a car I sure would not go to my mortgage company to tell me the positives and negatives of the car I was looking at so why would I go to a car salesman to explain a mortgage program?

I guess I lucked out, I was referred to a loan modification lawyer who did in fact get me a mod., my balance was $457,000 @ 6.5% with CountryWide; it was reduced to 2% for 5 years and then 4% for the balance of 27 years fixed, Bank of America soon took over the mod. terms and I am a happy customer.

Its amazing as to how ignorant Americans are, they blame salespeople for their woes, when a salesperson is actually only providing facts and then the consumer should make their decisions, americans are all cry babys and whiners grow up. The real scammers are the doctors they are killing off all the celebrities

There are bad persons in every career field! Just shoot them and get them off my planet!

Interesting...The car salesmen don't want to be identified with Bankers and Lawyers. To any car salesmen that's offended by this, you have to admit, you guys have a reputation for being pushy. Add pushy salesforce to the complexity of the mortgage markets and desperation of home owners and you have a recipe for disaster.

I'm a car salesperson and resent being placed in this category. I'm well educated and a professional. My career, while in a downturn, has provided for my wife and two children. I have done this with honest nobility to the profession. I have never, ever lied to any customer. In fact, it's truly amazing how many customers daily, lie to me.

I resent the author of this article who would compare me and others in the automotive industry to such vile acts as are portrayed here.

You, sir, are no professional, have no merit but the blubbering gas of boredom to post such an article in comparision to my industry simply to fill white space and to meet a written quota. Personally, I would NOT sell you a car as is my right and the right of any other car sales professional.

When people are in dire straits they are easy prey for these wolves.
It's not just pretend lawyers, it's all financial services, credit repair, insurance, and on and on.
Maybe the best bet is to just say NO to any unsolicited offer.
Get a referral from satisfied customers before you do anything stupid.
There ARE reputable outfits out there, but they don't call up up and pitch you.

I worked directly for a major lender as an Asset Manager (doing loan mod's) for 13 months. If you are behind in payments or have a rate above 6.50% contact your lender directly, DO NOT use a mod company, by and large, they are all totally worthless. It will take plenty of time and patience but start educating yourself now and take excellent notes of who you talk to, when you talk to them and what they say to you.

The title of this article made me laugh. You make it sound as though the mortgage industry is run by the finest upstanding folks and that all mortgage loan "officers" have MBA's from the top B-schools. Give me a break. The mortgage industry has a worse reputation than car sales! Bad comparison.

As a previous car salesman and finance manager I don't see a problem with a car salesman selling motgages,homes or anything else for that matter. You are talk ing about a law firm, which in your mind is worse,the lawyer or the car salesman ? Regardless they are the ones that keep our economy going.Car salespeople and attorneys alike are normal people like you and me just out making a living to feed their families.I think this article is a waste of your time to write and my time to read, I'm very disappointed.Maybe you couldn't find a good story to write about and had to meet your deadline. Either way you got paid, right?

Send me the 3 Grand and I'll do the same thing they will do - nothing!!

what does car salesman have to do with your dumb article. Everyone what to say negative things about car sales people. How about lawyers, doctors, policeman, they are the real crooks.

PLEASE, PLEASE, PLEASE!!! Listen to this advice and make sure it gets as much publicity as possible! I've had homeowners call me six months or more after they stop making payments, when we are well into the foreclosure process, and they are completely blown away when I tell them that the "modification company" they paid thousands of dollars to modify their loan never contacted us. Now they are out the money, and have lost their home. This article cannot possibly be more accurate and this is happening all over the country. Nonprofit agencies, HUD-approved agencies do not charge fees up front, and they will work with you and your bank to figure out what can be done. Take it from this 'insider' - nonprofits are pretty much the only way to go with foreclosure prevention and assistance.

I work in the auto business and have for numerous years. I am in the process of starting my own company(nothing to do with the car industry) the conotation that car sales people are all crooked and untrusting is re-inforced by people like this Rick character. The years i have worked in the industry, i have come across people like him, but most of the people that i associate with and work with or nothing like that. It may be because i worked for a reputable company (Saturn) that did not adhere tho the sales tatics used by some other companies. Also there are regular dealers who will not tolerate that kind of person. As i work on my business plan and the launch of my company. I wonder in the back of my head, will someone bring up the fact that i was once a car salesperson. I take pride that the people who know me outside of work never associate me with what i do. As in any business, there are the good ones and also the bad. All sales people in the industry are not bad, and there are some who are. Hopefully the fomer prevail.

i'd rather deal with a car salesman than a lawyer

If a person is having trouble making his or her mortgage payment - how in the world are they going to be able to pay an up-front fee of $2,000 or more to these so-called loan-modification companies?? Why not go directly to the lender? This makes no sense to me whatsoever. I've always been told - if it sounds too good to be true - it probably is!

I don't think the govt can do anything to prevent these scams. we live in a caveat emptor society. the govt is actually creating jobs when it comes out with "food stamps" program! only problem, these jobs involve scamming the innocent public which then makes the lawmakers look good as they try to "catch" these predators. that's my 2 cents.

As one of the top salespeople for a luxury brand in the Seattle area, I am angered that "car sales people" are looked upon as an unworthy profession that is filled with liars and cheats. I am a professional and deserve to be treated with respect just like anyone else. The auto industry has changed. It is no longer guys in cheap suits, who throw your keys on the roof of a building to get you to buy a car TODAY!! The internet has made invoice pricing available to the consumer, and my job is to build value in my brand and come to an agreement between invoice and sticker price. It's that simple. Your car sales person is trying to help you get what you want, and if you allow us, we can often take car of much of the work in advance so you don't have to sit around a dealership all day. Please stop picking on the car salesman as the scourge of the professional world. Save that for the scumbags responsible for this current economic crisis. Wall Street Greed Mongers.

Get a grip! The real crooks are politicians and Wall Street bankers not car salesmen!

The mortgage industry is still rife with hustlers. Go to your bank. NEVER work with a broker especially one from Residential Finance. They are all sales people. They are ALL trained in high pressure sales techniques. They convince you they are trying to "help" you then try to get as much money as they can out of each deal. That is all you can be sure of.

Outstanding investigating and reporting, Bob!

This type of sneaky weaseling is becoming a lot more prevalent as the economy worsens, and it is disturbing--not because I fall for it, but because I have empathy for folks who might not be so skilled in identifying scams, especially when the more obvious clues either are so transitory that they easily are missed or simply are not there . . .

For television advertisements, there usually is a page of fine-print legalese which flashes for a second, but there is no way actually to read it unless you either take a photograph or record it to DVD and freeze-frame it so that you can read it, and recently I have seen television advertisements that do not provide the usual clues, which for some folks probably makes it all the more difficult to identify what it really is . . .

From my perspective, which admittedly is a bit cynical at times, some of the people who currently have jobs in our great nation basically are sneaky weasels, and the reason they continue to have jobs is that they are ready, willing, and able literally to do anything, which overall makes them sociopaths . . .

They did it with auto warranties, credit cards, dental insurance, medical insurance, and mortgages, and they either continue to do it at the same places, adjusting to new rules and regulations only to the extent that temporarily removes them from the radar, or they move to other sneaky weaseling opportunities . . .

And they are able to do this, for the most part, because there are no real and tangible consequences for sneaky weaseling until it becomes so egregious that there is no other alternative for the various state and federal agencies, bureaucrats, regulators, and law enforcement folks than to do something about it . . .

And a big part of the problem is that "puffery" generally is allowed, even when it is done in a way which for all practical purposes prevents it from being protected as lawful "puffery"--noting that "puffery" is a legal term with a very precise definition . . .

As an example of protected lawful "puffery", consider the marketing blurb for a new movie, "the most amazing and fantastic motion picture of all time" . . .

The general thinking is that most people have sufficient sense to understand--without having it explained--that there simply is no way to prove or to disprove the statement, because it is so outrageous, so it travels with a bit of intrinsic disbelief or a "buyer beware" clue . . .

But when equally outrageous claims and statements are disguised as "puffery", but are done in a way that intentionally eliminates or removes as many other clues as possible, it is not so easy for everyone to recognize that it really is sneaky weaseling . . .

So, my current thinking is that it might make a bit of sense for Congress to consider some revisions to the legal rules for "puffery", such that for certain types of industries, products, and services there is a higher standard of proof required to engage in "puffery" . . .

One way is to hold newspapers, radio stations, television stations, and cable systems liable in a last resort type of way for whatever they allow to be advertised, which I think can be done so that does not cause freedom of speech problems . . .

Whether this will happen is another matter, but my current strategy simply is to avoid it diligently, where for example when watching television, it maps to an automatic channel change the instant I detect sneaky weaseling disguised as "puffery", and I also lower the value of all the other advertising on the channel once I change back to the channel after 30 seconds or however long I think the sneaky weaseling disguised as "puffery" advertisement will run . . .

In other words, if the next advertisement is for a good product, perhaps a food item that I regularly purchase, I do not purchase that food item for a while, based on the strange view that perhaps the legitimate companies will discover sooner or later that running their honest advertisements on a channel that is flooded with dishonest advertisements featuring sneaky weaseling disguised as "puffery" is costing them sales by association . . .

Stated another way, if they really are legitimate companies advertising honest products and services, then why would they allow their products and services to be associated with dishonest advertisements and sneaky weaseling . . .

People have a lot more control and power than they might imagine, and in these economic times, one way to exercise control and power simply is to say, "No!" . . .

Thanks!

Thank you for your diligent research and going after these crooks. People like this should do jail time. It would be like calling an advertised 911 number for an ambulance because you are having a heartattack and being asked for your credit card number so they can drain your bank account!

This article makes all car salespeople look bad, I am tired of getting a bad rap for what other car salespeople practice. It is not fair to post something like this when all of us are not like this.

Um... someone calls you unsolicited and asks for $3000 up front to do something that sounds impossible? If you fall for this, then you are so completely stupid that there is no hope for you.

I've been in the automobile industry for 20 years selling vehicles. These former "car salesmen" give all of us a bad reputation. Unfortunately, however, where there is smoke there is usually fire and these unscrupulous dinks remind us all that there are an inordinate number of people in the auto industry who resort to these kinds of tactics to sell because of a lack of true sales talent and morals.

I have been a loan originator in the mortgage industry for about 15 years. I recently received a phone call from some friends of mine who are in trouble about their mortgage. They had been approached in similar fashion by somebody offering to "negotiate directly with their lender", for an exorbitant up-front fee. I told them to call the Division of Real Estate (Colorado), and ask their advice, and find out what they could offer them. They were put in contact with a legitimate firm, who charged them nothing, and also had the inside line to a direct contact at their mortgage lender, and has worked out a repayment plan for them that they can afford. The scams are unreal, popping out of the woodwork everywhere. The mortgage industry has taken a huge black eye, because of scam artists who seem to be able to morph into the next scam, and go unscathed. No doubt, 3 or 4 years ago, these same people were the ones who were putting folks into pay-option arms, because of the huge rebates being paid to them, and before that, they were penney stock brokers. It seems that the regulatory agencies are always a step behind, closing the barn door long after the horse has run off. It has made life very difficult for honest mortgage folks, who are now viewed with suspicion, and saddled us with regulations that have made it difficult to even operate legitimately. The same has happened to the appraisal business in our state, because of the few bad apples who were inflating appraisals above market value, no doubt in many cases working with the same sleazeballs who are now marketing themselves as "loan modification firms". It is completely disgusting, and more of them DO need to go to jail.

Either retract the comparison or publish my comment....

As a person who has been in the auto industry for 23 years I am offended buy the use of "car salesman" as a negative term, the majority of us are honest and hard working.

Catagorizing automobile salesman with this dude is hate profiling to the max. I sell automobiles using ethics as hallmark. Your comparison is not only insulting, it is illegal. I am reporting you to the the powers that be as a hate profiler.

With access to the Intenet, news papers, and TV news so universal nowadays, I really have no pity for people who fall for scams like this. Some people will always need to learn their lessons the hard way. The people falling for this are the same ones that got no-interest ARMs and cash-out re-fi's in the first place without knowing what they were getting into. Out of one scam, into another.. Charles Darwin would be happy, our society does too good a job of protecting stupid people from themselves.

Many states do require the attorney as well as the company be licensed or registered in that state. Not to mention each person negotiating the terms. This would include said call centers since they are seeling the product.

For those out there that welcome their credit lines be reduced because they do not use the full amount need to understand be careful for what you ask for.

As soon as they drop your limits, your credit score will drop. One of the effects on credit score, the amount of credit you have available and the ratio of end of the month balance to credit limit.

The credit score does not care that you payoff your balance every month, it only takes into consideration the ending balance on your statement. Thus, your request to have your limits lowered will drop your scores; you will pay more for your new mortgage, auto & existing credit card debts.

THEY MUST HAVE RECIEVED THERE TRAINING FROM BERNIE MADOFF!!! HAHA

I sell cars and would be much more likely to buy a mortgage from one of my coworkers then from a self important blow hard blogger

Do you have something against car salespeople. As educated as buyers are these days when it comes to buying cars, there is a much different bread of car salesperson today. Much more consultative and professional.

So, did you get the low interest rate?

First these crookds scammed people into bad loans and didn't get into any trouble. Now they are ripping off the same people and getting away with it. When is the Gov't going to figure out a way to protect consumers.

A salesman is a salesman. They all work for a commission and will tell you anything that will convince you to spend your money with them. Dealing with salesmen (or saleswomen) is like walking through a rattlesnake den: watch where you are stepping before you step, or you will get tagged.

And good grief, Bob Sullivan, attorneys are even less principled than salesmen. You would do well to evaluate your selection methods in choosing real estate ''professionals.'' I don't want to meet you as a panhandler at the shopping center parking lot.

I would rather deal with a car salesman than a banker, lawyer, politician, Wall Street Broker, most CEO's and any investment firm !

Well, if everyoine gets on that "side of the fence," this country will utterly collpase (at least as any type of economic power with a strong middle class).

Whatever happened to right or wrong? We're going 3rd world, baby!

wow - all in ONE package

Lawyers, car salesmen AND mortgages

And we thought there was a recession going on....

Sad to think that anyone would try to take advantage of consumers in this bad economy. Tricksters trying to squeeze cash from distressed consumers abound all over the country and this is the time to reel them in. America has now become a breeding ground for corruption just like many third-world countries. Please someone, do something!