| Strategic Debt Resolutions |
| Strategic Debt Resolutions, LLC Strategic Loan Mods, LLC; Strategic Real Estate, LLC; Eyring & Associates, LLC; The Open Organization, LLC Not license |
| 7th of Aug, 2011 by User643411 |
| Okay, so I am underwater in my home and needed relief. I had heard about loan modifications and their attendant scams, so I decided to do my homework and go local. I was pleased when I found Strategic Loan Mods (SLM) since they were in fact in Seattle (45 min. away), there was a physical address and I spoke to the "president" Karen Tuff. She assured me that SLM was on the up and up, that they were an "attorney firm" and that for the wee fee of $2500, I would get a modification for both my first and second. Well I figured it seemed all well and good. I was told to send all $2500 to their processor, who was in fact not an employee of SLM but their own concern (first red flag) and that he would cut SLM a check for its share of $1600 of the $2500 fee (second red flag). I remember asking if filtering payments was legal and was assured it was (lie #1). So I spoke to the processor, from the West of the State. He was a great guy, knew his stuff and gave me his contact info. He told me SLM would be kept in the loop and would be my point of contact, basically he was being paid $900 to negotiate with the lender, not stay in touch with me. Had SLM done their job, I wouldn't be writing this. So the processor, one of SLM's "Modification Consultants," got to work, almost right away he got some results, and that was great, if I had heard about it when it happened. The lender approved my first for a modification and send the documents to me, I had no idea anything had happened until they arrived. Perplexed I called the processor. He was embarrassed and said that he had emailed SLM the day I got the mod (almost ten days earlier) and said they should have contacted me (red flag #3). So we both contacted SLM, they apologized and said they would be better at being the communication between the processor and I. So the second's negotiation begins and is going slowly, there isn't equity in the home, but the lender doesn't have as much incentive to modify. My processor worked hard for me, after three weeks of no word, I contacted him again. He told me of the progress and apologized on behalf of SLM. I told him he was fine, but SLM was going to catch some hell. I called them and spoke to Gary Eyring, Karen Tuff's husband and VP of the company. He was quite personable, but I demanded SLM do its job, I flat out asked, 'what did you guys do to earn $1600?' He laughed condescendingly and lectured me for twenty minutes on the need for "openness." Finally I told him SLM needed to do its job or I wanted that money back (I was going to give part of it to the processor and the rest was a refund). He said they would work on it. Apparently the processor lost faith in them too, since I started getting emails from him directly keeping me updated. I finally got the second mod, but I never heard an unsolicited word from SLM. I called them up and spoke to good 'ol Gary again and I simply said that SLM didn't do anything to justify such a high fee, I wanted $1600 refunded. Mr. Eyring laughed condescendingly again (maybe that is just his laugh, I don't know or care) and said they did their job by securing me as a client (WTF!?!?!?!) I told him $1600 to sell a $2500 loan mod was outrageous. I told me they had administrative costs, fees to sales assistants, blah, blah, blah. Bottom line is they took my money and for what? (I spoke to Karen Tuff a bit later and she said they needed all their time to "focus on selling" (like I said WTF!?!?!?!?!). I got the mod and that is great, but SLM had nothing to do with that. So I did some digging and here is what I found: SLM isn't licensed nor has it ever been licensed with the DFI (Department of Financial Institutions in WA, the agency you are required to be licensed with, both as a company and an individual if you do anything with loan mods) SLM has two complaints from other clients with the DFI Only one of SLM's "modification consultants" are licensed with the DFI, and guess what? Gary and Karen, and their "key mediator and processor" aren't that one. They claim to be authorized to do mods in all but five or six states, including Oregon Tennessee, Arizona and Michigan. I looked it up with a friend who is an attorney in AZ (I don't know about other states) but, like in Washington, you have to be licensed with their DFI to do loan mods in AZ, that means selling, advertising, negotiating, etc. When you click on the link for that, good 'ol Gary's picture and contact info pop up. Guess what? He's not licensed to do anything in AZ. That is a possible criminal act. I probably won't get my money back, I'm going to file a complaint with the DFI here and the WA Attorney General, but I doubt much will come of it. If you need a modification, hire an experienced attorney with a good rep in your community to just sue them, don't get in bed with people like this. Strategic Loan Mods, Karen Tuff and Gary Eyring took my money! |
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| Although my details are a bit different, and I never got a loan mod...I echo the sentiments here. Gary and Karen are just sales people, they know nothing about loan mods, and they just sell you and pay others who also aren't qualified to do it. They tell you they work with attorneys and they aren't attorneys, my guy was someone going for his law degree. Gary is a total bull shit artist and sleaze bag...if you watched their website over the last years, you will notice they constantly change their process, requirements, and guarantee. They do a contract but it's not with them it's for $900 with another person, so you're only guarantee is for the $900. They do NOTHING on your mod, and expect the other guy to do everything for the $900. SLM gets the balance of $1600 for just getting you as a client. They say they do the case management, but do NOTHING. The folks that work for them aren't happy with them either because they end up doing everything in addition to negotiating the mod, which isn't what they agreed to do. Let's face it $900 for months and months of work is not a good arrangement. Plus SLM blames the ones they contracted with for non-performance. The whole operation is shady. And it's just all smoke and mirrors. They are big talkers, and Gary will talk about openness integrity...he's dishonest and does training in an organization called Open Organization. They do smoke and mirrors training which probably fits them to a T. Karen Tuff will talk your ear off when you're thinking of signing up, but then you'll never hear from her again. Advice to the wise: First of all the HAMP program and loan mods are a total joke to begin with. But if you really want to see if you can get one - run don't walk away from these guys. Go find yourself an honest and knowledgeable actual attorney or do it yourself. You can do this yourself, all it is, is a bunch of paperwork, and you have to keep submitting it because the banks are clueless. Everything you need to know you can find on the Internet too. Don't hire these phonies. They are a rip off, trying to see if they can make some money on this, because their other businesses have gone belly up. |
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