Question about company offering to lower loan amount (interest, house, work)

[minniepearl]

well let me see, if jw paid cydney to take your file, and now they are with new investors ummmm, don't you think that the new investors would charge for that file as well? i know that all of you have placed 3500.00 with this company and you want some kind of good to come out, and so do i, however standing out and look in, i see some serious problems here and discrepencies, 1. desist and defrain on JW, 2. changing names, 3. no proof, no proof, 4.all the hype on this company that has not performed, 5. DA's office involved now, what else is it going to take for you all to see the true colors?? In the blogs you said earlier that the bpo was done on all properties and this was only good for 30 days? 30 days has come and gone, and you also said they paid $100.00 per bpo and did 3000 who paid for all this, that's a lot of money.

[dimplesinsac]

It is JW that has postponed the trustee's sale twice.

As for Minniepearl's post: JW has never changed their name. The DA's office is not involved with JW--it is involved with Horizon. Yes, we do not have any proof, yet. And, yes, it is nerve wracking. The bottom line for me is this. Wells Fargo would not work with me and JW has provided a glimpse of hope in my situation. IF it does not work out, I walk away from my home that I did not put any money down on and am now over $100k under water as far as equity is concerned. Yes, it goes on my credit as a foreclosure and I will have to rent for the next seven years. . . but, my house will never regain the value I agreed to pay in 2007, so it is like I am "renting" from Wells Farg. Other than that, what harm is there in my giving JW a chance to provide equity in my home????

[WDC]

I recieved the letter from Amy Jo on 7/6 stating they are close to closing the CW/BoA deal. My rep emailed me on 6/30 they are close to closing and they are done with the BPO's and verified the investors' funds.

JW has never changed their name. Jesse Wheeler continues to advertise JW Financial Solutions on a local Sacramento radio station. His add airs M-F at 12:30 in the afternoon on 1380 AM. I agree with dimplesinsac regarding JW providing a glimpse of hope, CW/BoA would never work with me, a matter of fact they still will not work with me because I'm current on my payments.

I can't imagine that JW would scam people regarding the "Save My Home" program jeopardizing other services they offer. When I signed up I brought my check and paperwork to the Roseville office. I noticed a couple in the lobby meeting with a rep and they were so elated and grateful that JW had helped them out and that it was a long process. Not sure what it was about but JW does offer other services and why jeopardise your business.

[minniepearl]

I have a question for dimplesac, you say JW has not changed names, are you still signing people up for this program?? and if so what name is on the contract that these people sign? so what your saying if we pull a business license for Home Keepers of America we won't see Jesse's name anywhere? Is this what you are telling me? JW has a desist and defrain order for this program, so if they have a desist and defrain how are they able to still work with these investors, cause the contract that all of you have signed says JW, so please do explain what this means? Thank you.

[dimplesinsac]

I have never signed anyone up for this program--only myself. I did ask about the desist and refrain (check your spelling). Even with this order, they are not changing the name and JW attorneys are working on reversing it. If you read the older posts, I asked where you saw the HomeKeepers of America. I am still curious because JW is still doing business as JW but I believe (and I could be wrong) the investment group is HomeKeepers.

[minniepearl]

you need to ask your rep if they are signing new clients up under JW or Home Keepers?? if there is a desist and refrain you can not do business relating to real estate, so if Jw is still working on these files they are in violation of the law, who is Home Keepers? Investers, someone has to cash their check is it Jesse or somone else, again why don't you look at their business license in Beverly Hills, CA, again what does your contract say? What name is on your application? Home keepers is somehing that i heard from someone else, i think it came up in a conversation, with the girls.

[Zelva]

I also received the client update letter. Nice, but no cigar yet. Close....crossed fingers are cramped now. :-)

My understanding is that JW Financial mortgage loan purchasing is *NOT* A REAL ESTATE TRANSACTION. I was told it's a financial transaction, like Wells buys loans from BofA, etc. I think the folks offering individual mortgage mod services representing a particular individual with the current lender is a real estate transaction - somehow. At least, the individual loan mod services are not purchasing the loan. Not sure I'm explaining this clearly, but my understanding, when this came up some time back, was that they are two very different types of transactions and JW is a financial / investment / banking type transaction - and I was told that Jesse's background is primarily in banking.

Before I signed up, I snooped out all I could find on every name available (DBA, court records, etc) and I was not able to find anything negative. I even purchased corporate filing papers. Anyway.... hopefully this will shake out one way or the other real soon.

It seems very similar to what the PPIP (Private Public Investment Partnership?) aims to do - but while keeping people in their same homes. It's just that taking the loss (write down) is like a HOT potato being tossed about... when actually the write down will be the same, or at least similar loss, with foreclosure losses, either way it's a loss that needs to be taken, sooner or later.

Maybe folks (banks/investors) will start to "do the math" one day and these things can be sped along in the future - I hope so. 'Someone' has to take the losses, and it's going to be the bank/investors either now or later as I see it. Because the 'people' just only have so much money these days, and it's not enough, unfortunately.

[minniepearl]

Zelva, again i am looking at this with clear vision, if this is not a real estate transaction then why did they get served the desist and refrain??????? Something does not add up????? By chance did you or anyone ever talk to the department of real estate? I think i will call myself if no one else is going to, i think i am the only one who is not in this program, but i certainly hear alot about this company around town. And i do want to comment on the snooping around, this company was so new that's why you didn't find anything, let's see, have you checked with the Better business bureau, department of real estate, attorney general office, the state bar, district attorney's office, Federal Trade Commissions just to name a few, if you go to www.dre.gov you will find all of these offices numbers and addresses, again if you snooped before this should be a breeze for you, looking forward to your results once you have talked to these agencies, keep us posted,

[Zelva]

What I checked, for example (but I don't have all my notes and copies in front of me) is DBA (ficticious business name) filings in Placer, Sac, and West Sac, etc, counties to find names and business names; and corporate info which led to law firm in LA that JW is associated with; so I checked all county civil case listings (that were available on line) in LA, Sacramento County, etc, for both business and all person names I could find. When people are upset over 'decent' amounts of money, they start filing civil cases, or collection cases, with civil courts, etc, and it's 'public' information. I found nothing related to JW. The only one little thing I found was ONE very OLD State Bar violation against one attorney name - but it was so old, and there were no civil cases in that person's name in LA County, and no subsequent bar complaints, so it showed me that pattern of behavior was not continuing or substantiated elsewhere, etc, for that person. Anyway, in my experience, when people are upset over decent amounts of money, they start filing civil cases, and I didn't find any.

The problem with some of the agency complaint systems/filings, is you don't know how ligitimate the complaint is until there is a finalized action or something like that. With many of these agencies, 'anyone' can file a complaint and on the DRE web listing, you have no idea of what the initial complaint was nor what the outcome was/is. I didn't find that very helpful - but I have not called them - maybe you could and let us know.

[minniepearl]

I couldn't agree with you more! But, i don't understand why you haven't called the department of real estate and have a conversation with them, one phone call just might clear up everything, why don't you call and let us know what they say, I look forward to your response.