Another “Loan Modification” Company Busted For Advanced Fee
New Hope Property LLC d/b/a New Hope Modifications was charged in a four count complaint, filed in New Jersey Superior Court, in Camden County, with violating the Consumer Fraud Act, state advertising regulations and the Debt Adjustment and Credit Counseling Act. In addition to New Hope, Donna Fisher and Brian Mammoccio, Mullica Hill, Gloucester County, New Jersey, identified as registered agents of the business in New Jersey, are named as individual defendants.
According to the Attorney General’s lawsuit, New Hope has engaged since 2007 in unlicensed debt adjustment in New Jersey, including mortgage loan modification services, and has falsely represented that it has affiliations with government programs including the Hope Now Alliance. The state charges that, through its Web site, and through agreements with other businesses that provide leads, the unlicensed New Hope has sold loan modification help to distressed homeowners, failed to deliver on its promises of mortgage loan assistance, and failed to provide refunds once consumers realized they were getting nothing for their money. In one case
a Linden, Union County, woman facing foreclosure had a total of $1,500 electronically drawn from her bank account to cover the “fee” she owed New Hope, but received no loan modification help in return.