Outreach housing llc, is a scam and there ripping off people who are trying to save there homes.
I've recieved several comments {read below} about this company and I'am sorry I posted anything positive about this scam.
Sunday, January 6, 2008
If you read this artical...beware, I've had several people tell me this company is a scam and have stolen there money
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14 comments:
Stay away from this organization. The owner has a police record. They charge a monthly fee and have people posing as attorneys that are not. The money you pay does not go into escrow. The FBI in Miami is investigating them as well as the Attorney General.
Google the owner, Blair Wright and you will find that he owned a mortgage company named The Financial Group that was cited by the State of Florida for deceptive practices. Their website FAQs says they have helped people for over 20 years, but the company was formed less than 1 year ago.
OUTREACH HOUSING took my money totally $11,000 in monthly payments supposedly going to an ESCROW ACCOUNT. but the money really ended in their pockets. My mortgage company continue harassing and in end i ended up losing my home.
I wrote this and I'am very sorry to have promoted this scam and I hope you've been able to save your homes at this very difficult time.
I was a client and I have a Federal Case pending. I couldn't afford my mortgage I got screwed by my mortgage company and this is my only chance to fight them--I think there are two sides to every story. I am happy with the results of Outreach Housing.
Check your sources--I googled and pulled the public records on Blair Wright and he does NOT have a record...check it out yourself.
My woman and me went to Outreach and wanted to enroll because our house was in foreclosure--my case was dismissed and I am now suing the mortgage company and these people are helping me. My escrow account pays Outreach and the attorneys, and I am looking for the mortgage company to reimburse me after I get a payment I can afford.
THESE PEOPLE ARE CROOKS. I ENDED UP LOSING MY HOUSE AND I AM ABOUT TO HAVE THE FBI AND DEPT OF FINANCIAL REGULATION INVESTIGATE THEIR DECEPTIVE PRACTICES. I LOST OVER $16,000. NO MONEY WAS IN ESCROW. THEY SHOWED ME A DOCUMENT THAT THEY FILED A LAWSUIT ON MY BEHALF IN FEDERAL COURT, ONLY TO FIND OUT THAT THE DOCUMENT THEY SHOWED ME WAS NEVER FILED. BLAIR, BRYAN, AND THE TELEMARKETERS THERE ONLY HAVE SWEET WORDS. THEY ARE PROFESSIONAL CON ARTISTS WHO MUST BE STOPPED. I HAVE A FRIEND WHO WAS ALSO WITH THEM, THEY NEVER WENT TO COURT AND SHE LOST HER HOUSE. THE LAWYERS WHO THEY CLAIM THEY HAD WORKING FOR THEM HAVE CONFIRMED THAT THEY ARE FRAUDELENT AND HAVE ADVISED ME TO GO AFTER THEM BECAUSE THEY NEVER PAID ANY MONEY TO THE LAWYERS ON MY BEHALF. I WONDER HOW THEY GO TO BED AND REST AT NIGHTS. THEY ARE NO BETTER THEN GUNMEN WHO COME IN AND ROB YOU. THE ONLY DIFFERENCE IS THEY PREY ON DESPERATE PEOPLE WHO ARE LOSING THEIR HOMES AND ROB YOU WHILE WEARING A SUIT. DO THEDY NOT THINK THAT THERE IS A
GOD? EVERY UNFAIR GAME PLAYS TWICE AND THEY WILL PAY EVENTUALLY. THEY MUST REAP WHAT THEY HAVE SOWN.
i just read the article on line here is is below:
State may revoke lender's license
Accusations of deceptive ads has led to complaints against the Financial Group, spurring regulators to investigate.
By JEFF HARRINGTON
Published April 30, 2004
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A Florida lender accused for more than a decade of running deceptive ads for low-cost mortgages in the Tampa Bay area and elsewhere may have its license revoked.
The state's Office of Financial Regulation has filed a cease-and-desist order against First Mortgage America, a Fort Lauderdale company that does business as the Financial Group.
In an administrative complaint dated April 16, regulators accused the Financial Group of a pattern of misrepresenting the fees and conditions of its loans through misleading radio ads. Prospective clients are led to believe the loan rates are at a fixed percentage, regulators said, while the terms are actually for adjustable rate mortgages.
The probe into the lender and its owner, Blair Wright, began after the state received more than 50 consumer complaints.
Regulators are pursuing the relatively rare step of revoking the agency's license because of its marketing techniques. In addition to Tampa, the Financial Group does business in Miami, Dania, West Palm Beach and Sarasota.
Wright said in a statement Thursday that he would fight the revocation at a state hearing. No date for that hearing has been set.
"They are the same generic ad that have been used since the date of inception of the company (February 1998)," he said. "Our ads have always met state regulations and the one time the department has asked us to expand our disclosure, we've gone ahead and done so."
Wright said his company's other offices in Colorado and Minnesota are not affected by Florida's actions.
In April 2003, the St. Petersburg Times profiled the Financial Group and its controversial marketing pitches.
One critic, Tom Stottlar of Clearwater, said he was drawn in by the company's pitch for a 3.95 percent "Fannie Mae" loan. He later found out that 3.95 percent rate lasted only a month; the interest rate for the remaining 29-plus years would fluctuate, possibly into the double-digits. Stottlar applied for a 6.5 percent fixed-rate loan with the company instead, only to be turned down.
The way the Financial Group structured some loans, regulators said, some debtors could see their mortgage loan balance increase because their monthly payment was not enough to cover the monthly principal and rising interest payments.
Don Saxon, director of Florida's Office of Financial Regulation, said the Financial Group also masked fees for obtaining loans. Consumers need those details "so they have the ability to make informed decisions on one of the most important purchases they will make," Saxon said.
The Better Business Bureau of West Florida earlier gave the Financial Group an "unsatisfactory record" based on a pattern of complaints that have gone unanswered.
Here is another article:
Read & enjoy:
Mortgage company will fight allegations
First Mortgage America, accused of using misleading radio ads and shoddy business practices, wants its day in court.
By SCOTT BARANCIK
Published June 10, 2004
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First Mortgage America is not going down without a fight.
In April, state regulators asked an administrative judge to fine the Fort Lauderdale lender and revoke its license amid accusations of misleading radio ads and other dubious business practices.
Now the company, which once hired Tampa disc jockey Bubba the Love Sponge Clem to hawk its loans on the air, says it wants its day in court.
"The totality of the misstatements and inaccuracies contained within the complaint ... paint a prejudicial picture," wrote First Mortgage's lawyer in the case, Theresa Van Vliet, a former prosecutor whose expertise includes white-collar criminal defense.
Florida regulators say they have some pretty good reasons for trying to put First Mortgage, which does business as The Financial Group, out of business:
A recent state investigation of First Mortgage America found that 105 of 115 randomly selected customers paid higher closing costs than the company forecast in its good-faith estimates. Average shortfall? $4,560 per borrower. Largest? $16,789, according to a state complaint filed in late April.
Radio ads that the company broadcast in the Tampa Bay area and elsewhere cited mortgage rates as low as 1.25 percent. But First Mortgage didn't always clarify that the rate was adjustable - or that it might last as little as one month before rising.
First Mortgage required many borrowers to use a particular title service and property appraiser. In many cases, however, it didn't disclose that those businesses were run by relatives of First Mortgage president and owner Blair Wright.
A mortgage consultant hired by state regulators to review First Mortgage customer files was incensed. "There is a consistent disregard for compliance, rules or regulations," Sidney Weigner wrote. "The citizens of the state of Florida remain at risk as long as these individuals are involved in any capacity with the mortgage industry."
Based on these and other findings, the state's Office of Financial Regulation wants to strip First Mortgage of its license to broker or make home loans; force it to pay restitution to certain customers; and impose hefty fines and other penalties on Wright and Donald Troisi, who manages the company's Tampa office. Wright and Troisi would not comment Wednesday.
Wright, 45, described in a company bio as a "financial wunderkid" who founded his first mortgage company at age 24, has said First Mortgage won't back down. The petition filed May 27 by Van Vliet not only seeks permission to stay in business but also requests repayment of attorneys' fees.
As of Wednesday, a hearing date had not been set.
The state may be tempted to settle the matter out of court, as it often does. The agency recently lost its lead attorney on the First Mortgage case, Brynne Vanhettinga, as well as her supervisor. Other agency lawyers are scrambling to get up to speed on the facts.
Wright and his businesses have an "extensive history" of encounters with regulators, according to the agency's complaint.
As early as 1992, Wright, then president of a mortgage company called U.S. Financial Center Inc., signed a consent order that said his company had "distributed misleading advertisements and promotional materials."
In early 2000, agency employees examining First Mortgage found evidence of deceptive ads, as well as a pattern of underestimating closing costs and collecting unauthorized fees - much the same as they found in their most recent investigation. In 2002, the agency issued Tampa manager Troisi a written warning about alleged closing-cost irregularities.
On April 6, 2003, the St. Petersburg Times published an examination of First Mortgage's business practices. Nine days later, the state began an investigation that would lead to its April 2004 complaint, hand-delivering subpoenas to each of the company's offices.
So far, the agency has not referred the First Mortgage case to state prosecutors for possible criminal investigation, said Bob Tedcastle, chief of the Bureau of Financial Regulation. It has not followed consultant Weigner's advice to notify the Federal Trade Commission about possible violations of the Fair Credit Reporting Act.
Nor has it alerted regulators in Minnesota or Colorado, the two other states where First Mortgage does business, about its findings.
"If we revoke their license and/or impose fines and/or restitution," Tedcastle said in a recent interview, "we will make sure that it is a public document, and other states would be made aware of it."
- Scott Barancik can be reached at barancik@sptimes.com or 727 893-8751.
ANOTHER STORY TO READ:
REGULATORS SEEK REVOCATION OF SOUTH FLORIDA MORTGAGE LENDER’S LICENSE
State regulators announced today that they are seeking revocation of a South Florida mortgage lender’s license for predatory lending practices, including misrepresenting loan terms and fees. The lender, First Mortgage America, Inc., provided loans to consumers through several of its branch offices, including Miami, Dania, West Palm Beach, Sarasota and Tampa.
The Office of Financial Regulation (OFR) filed an Administrative Complaint against First Mortgage America, Inc., d/b/a The Financial Group, Inc., on April 16, 2004. The Complaint seeks revocation of the firm’s mortgage lender’s license and other penalties. The Financial Group, Inc., is headquartered in Ft. Lauderdale.
State regulators initiated a statewide examination into the lender’s activities and its owner, Blair Wright, after receiving more than fifty consumer complaints alleging, in part, “ misleading advertisements, misrepresentation of loan terms and conditions and misrepresentation of fees.”
According to examiners, The Financial Group, Inc., engaged in frequent radio advertising of very low interest rates. Potential borrowers were led to believe that the low rates advertised on the radio were fixed rate mortgages, when in fact they were adjustable rate mortgages. The loans were structured such that the monthly payment may not be sufficient to cover the monthly principal and interest payment resulting in an increase rather than a decrease to their mortgage loan balance.
Examiners also determined that The Financial Group, Inc., failed to disclose or underestimated to potential borrowers the total costs to be incurred in obtaining their mortgage loan.
“It is essential that mortgage companies reasonably disclose the cost of obtaining a mortgage loan to consumers so they have the ability to make informed decisions on one of the most important purchases they will make,” said Don Saxon, Director of the Office of Financial Regulation. Mortgage companies that fail to comply with Florida law will be investigated and appropriate action will be taken to protect consumers.
Regulators should be commended for taking swift and severe action against a company that has been preying on Florida consumers," said Florida's Chief Financial Officer Tom Gallagher, who oversees the Department of Financial Services and launched a public education campaign last year to warn the public against predatory lending practices. "Whether you're purchasing your first home, refinancing or need a home equity loan, watch out for excessively high interest rates and hidden fees, bait-and-switch tactics, and unnecessary add-ons.”
Consumers seeking mortgage loans are encouraged to verify that they are dealing with a licensed mortgage broker or lender. The Department of Financial Services' toll free consumer help line is available at 1-800-342-2762 from 8:00 a.m. to 7:00 p.m. E.S.T., Monday-Friday.
here's more infort
http://www.realtown.com/articles/view/outreach-housing-offers-1-2-billion-in-defensive-foreclosure-relief
CBS4 NEWS
http://cbs4.com/local/Mortgage.Refunds.Housing.2.816588.html
Outreach Housing did the right thing, it was the corrupt Law Firms who took the money, took the records, did nothing and then blamed Outreach for it. And the news did not investigate the law firms, just repeated what the law firms fed them. Then the State stepped in and followed along. No investigation of the corrupt firms, just assume Outreach is a scam because the news said so. Here is a link to the history, look up the records in the court yourself. The truth is not being told. http://outreachhousing.blogspot.com/
I was successfully serviced by Outreach Housing, they filed my case in Federal Court just like they said they would, and so were hundreds of others. The bank settleled and saved me over 100K dollars.
The law firms that screwed the customers are not even being investigated. Law firms took the money and did nothing. Law firms are the true scam artists here.
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