Has anyone used this company? I'm thinking of having the company negotiate with my mortgage company for a lower rate. The fee is $399 a month until they get done "negoitating". Please let me know your experience with them.
___________________________________________
First Universal Lending LLC is a lender that has been servicing retail
clients since 2002 and the wholesale and securitization enterprises dates
back to 1994. With billions of dollars in transactions and a group of in
excess of 200 in personnel, First Universal is a leading private company in
the consumer finance industry. The firm is a member of the Better Business
Bureau and after servicing in excess of 100,000 thousand clients the firm
has a "B" Rating and has a complaint rate of less than one half of one
percent. The firm also has had additional strategic relationships
throughout its existence with high profile lending institutions and service
providers/counter parties, including Washington Mutual, Lehman Brothers,
I checked with the BBB, and they say all is well. They have 60+ complaints in the last 36 months, which they have satisfied. Now I have just had my third payment taken out, and they still call weekly and tell me it is still under review. According to Countrywide they have not had any contact. Be careful when dealing with this group. I am continuing with mine under supervision of the AG.
I guess my gut feeling was correct,after reading some of these complaints. First Universal Lending contacted me after I filled out an online form with Lower My Bills. I was transferred to a senior loan rep named Junior probably didn't want to use his real name. Everything sounded good, He said he could save me 30 to 60 percent off my mortgage payments and even take care of the three missed mortgage payments,interest and penalties. He said the charge for doing this will be $499 per month and I should look at their fee as my new mortgage payment. You mean I don't have to pay my mortgage? Won't my lender forclose on my house? He said no they would freeze my mortgage during this modification. I said I don't think I want to risk not paying my mortgage. He then became very demanding and down right abusive. He just wanted me to pay him and not my mortgage.I also checked with an attorney after and he said they can't stop a lender from filing forclosure, a forclosure is a lawsuit.
man glad i searched them before actually signing anything . i was a little concerned by what i was told because it sounded to good to be true and we all know that when that happens it usually just the opposite. so i did give them my debit info but will cancel my card tomorrow thanks to all that posted here because they would have just buried even deeper.
5. Written by Jeremy_From_Texas_12/04/2008, on 04-12-2008 19:21
I just got of the phone with one of there represenitives tonight and he was grilling me for a credit card number. My gut told me not to and instead I asked for there website address and at first the site seemed legitamate until I click on the contact us page, where I found no physical address, phone numbers, email or really anything. My wife a few weeks ago submitted an inquirey to lowermybills.com because she read an add that said there were companies that could help you with your mortgage problems and that credit was not a factor. This is how this company was able to contact us. Please be very weary of this company and my advice to you is MOVE ON!!!! and try to negotiate with your lender as I am going to do tommorow.
thank goodness for this site......Initially I got a phone call from a adam clarke.....and told me he could remodify my loan making my payments lower by 30 or 60 % also getting me a fixed rate ....That sounded great I gave him my check card information and told him to take a payment out on monday ....talking to him friday.....well thank goodness for this ssite .....i have found out from numerous people on here that they were in my same shoes ...and have done the same thing .....i post dated a payment for monday .....and quickly cancelled my bank card after finding out this *** was a fraud...........The best part of our conversatiion was....dont pay ur mortgage payment until we are done negotiating...just pay us 750 a month until weare done negotiating......then u will start all over not worrying about ur behind payment ,they will be wiped clean .....dont fall 4 it ... well many have lost there homes by doing so ............I am thankful for peoples input on this site...thankyou
There is something that you don't realize about lending companies and you should keep this one thing in mind .... they WANT their money back. They NEED their money back. They however DO NOT want to let the home go into foreclosure since it cost them much more to foreclose on a home than it does to actually let you be up to a year late on your payments.
This is a FREE option for you. CALL your bank, tell them your situation, make a deal with them and get them to put it in writing. YES this is a pain in the ***. YES it will work. YES you will be able to keep your home.
It's very simply if you follow these steps. This is what you are paying $399 and up a month for ......
1) Call hte bank and try to make a deal where you can pay a smaller amount until you resolve your financial situation. They will listen if you bark loud and long enough.
2) Keep in mind that you are going to eventually get your way if it is reasonable so don't think that you are going to get away with anything shady cause you won't. Be honest and faithful. Thats all they wanted in the first place.
3) Find that happy ground for yourself and set the goal to call your mortgage company EVERY DAY if you have to to get them to make a deal with you. TEN times a day if you have to. It cost them around $10 to make a deal with you and nothing out of pocket for you less a little postage to return documentation (KEEP COPIES OF EVERYTHING AND READ EVERYTHING BEFORE SIGNING ANYTHING) However it cost around $12000 for a mortgage company to file, hire outside services, and boot you from your home. Legally NO ONE can remove you from your home as long as you are making "The Effort" to make good on the loan. The bank doesn't actually own your home or the land that it is on ... the Government does. Yes they do! The bank only holds the deed, the deed is for resale purposes and for the Government to track who what where and when on that parcel of land.
IN A NUT SHELL ... Be diligent, energetic, push push push until you get things back on track. No bank wants to try and resell your home. ESPECIALLY not now. This is a bad bad time for that as far as a mortgage company is concerned.
You will come out ahead and you will get your life back on track as long as you push for it and keep documentation of everything. Write down phone calls, questions, their answers and please do yourself a huge favor, EVERYONE that you talk to get the following info on them all .. every time .... Name, Extention, ID number if applicable, Managers Name, Direct Line if applicable, and write down the time that you talked to them. You will not regret doing this but you will cry rivers if you forget to do this simple task.
If you have any other questions or would like some help with all this ... advice only ... I will check back here and look for specifics ...
Thanks and GOOD Luck ... you are your best asset and you can do this if you stay focused and drive forward .. don't take no for an answer and get your life back on track!
The owners' name is Sam Friedman. Try calling and getting in touch with him. Impossible. Try calling and getting in touch with Doug Campion - the mastermind behind the entire scam -Impossible. Never do business with anyone you can't talk to---OH I forgot, they will talk to you until they have your money and then forget it after that.
I have not signed the papers to work with this Company yet; however, would appreciate any feedback from consumers either good or bad. They are being recruited to renegotiate my mortgage loan.
Comments
Comments (13)
