Contact: Moe Bedard FOR IMMEDIATE RELEASE Telephone: (951) 531-0148 Email: Moe@LoanSafe.org
Company Cashes in by Making Lenders Pay for Their Mortgage Mistakes
“An Inland Empire, California man cashes in with a new business model. He makes lenders and servicer’s lives a living hell, saves 138 homes in the process and becomes an online grass roots celebrity for struggling homeowners.”
American homeowners are getting the foreclosure shaft from uncooperative lenders and servicers. But many are getting free help online and giving their lenders the legal shaft from the advice of a rapidly growing grass roots effort and new venture created by a Southern California man.
Recently Moe Bedard, President and Founder of Loan Safe Solutions Inc., was asked by a local reporter why his company has become so successful in dealing with servicers and how his company has grown at such a rapid pace in only a short period of time?
He responded passionately, “We do what most of these non-profits and Hope Now groups will not do to help struggling homeowners. Loan Safe uses an adversarial approach by going after lenders and servicer’s legal jugulars by using consumer protection laws to fight for the disadvantaged homeowner. Loan Safe is here to educate and inform the homeowner and we definitely do not play Mr. Nice Guy with uncooperative lenders. “
Mr. Bedard also said, “Most of these non-profits such as 995-Hope and Hope Now are funded by lenders and servicers. So, how can they possibly have the consumer’s best interests at heart?”
Bedard and his rapidly growing venture, Loan Safe Solutions Inc., now reside in a plush 6,000 square foot office space in the Inland Empire of California and the heart of foreclosure warfare country. His staff consists of 35 employees; his pro bono help has netted 138 homes saved for free online and has regular conversations with lending executives and heavy weight reporters at news outlets such as the New York Times, CBS the LA Times and many more.
So what’s Loan Safe’s secret?
It’s a business model that lenders and servicers everywhere are deathly afraid of. It’s called the mortgage audit or forensic loan document review.
The service they offer is a very specialized and imperative in identifying if a borrower is a victim of predatory lending. Loan Safe’s team of specially trained mortgage experts review a homeowners loan documents and perform a thorough investigation for miscalculations and to determine if their loan terms are accurate, truthful, and met the requirements of the applicable federal statutes.
When asked how many loans they review have legal violations, Moe Bedard said, “Over 80% of the mortgages we audit have predatory lending and legal violations. So, a homeowner has an 8 in 10 chance that they will have legal issues with their loan. Now, that is a very high probability that your mortgage has legal issues and you can use these violations to get relief from your lender or servicer.
The problem is that 90% of predatory victims do not know they are victims.
Bedard said, “If these violations are found, then the borrower may be eligible for complete relief of the predatory loan or a very favorable loan modification. Complete relief of the predatory mortgage is called as a loan rescission. Meaning the lender takes back the “predatory loan” and awards or credits back to the borrower all interest made on payments thus far, loan origination fees, all applicable lenders fees, penalties and attorney’s fees. “
When asked what is usually the end result of using this negotiation tactic, Bedard said, “The most common option is just to mediate the loan with your lender and fight for an affordable loan modification based on the legal violations on the loan. We have had rates approved as low as 2%.”
“Everyone wins here, “ he said.
Moe Bedard concluded, “The homeowner has their loan fixed and may have their principle balance may be reduced also. The lender does not lose their shirt because they have mediated the matter without employing their full legal staff on the file and wasting precious operating expenses.”
Ted Grose, a mortgage broker and past president of the California Association of Mortgage Brokers, said he is familiar with LoanSafe and finds it is a consumer-friendly resource that gives good information on alternatives to foreclosure and reassures people in crisis that they are not alone.
“It is very common for consumers to pull the sheets over their heads when what they need to do is reach out,” Grose said.
Moe Bedard is an expert in loan workouts and has written over 500 articles on loan workouts and modifications. He also operates several free consumer protection websites like www.LoanSafe.org and www.LoanWorkout.org and has been featured on CBS/KCAL, Fox Business News, LA Times and many more news outlets.
If you would like more information, please contact Moe Bedard at (951) 531-0148 or email Moe@LoanSafe.org
