Since the beginning of the mortgage crisis, a growing trend of fraud has plagued an already challenging situation for millions of American homeowners. To address this issue, the Federal Trade Commission (FTC) has issued the Mortgage Assistance Relief Services (MARS) Ruling.
Effective January 31, 2011 MARS client / homeowner disclosure:
• ZOOM! Loss Mitigation does not collect any upfront fees for our services
• Our companies minimum total fee is $1997.00 for services rendered
• Our clients / homeowners can stop using your services at any time (a fee may apply)
• ZOOM! Loss Mitigation Specialists is not associated with the government or any lender(s)
• The lender(s) may not agree to participate in a Short Sale or change the terms of the borrowers mortgage(s)
• We have always advised our clients to prioritize their debts and pay their mortgage lender(s) to the best of their ability
• We advise our clients to continue communicating with their lender or servicer
• You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject the offer, you will owe $1,997.00 for our services.
• ZOOM! Loss Mitigation Specialists is not associated with the government, and our service is not approved by the government, and our service is not approved by the government or your lender.
• Even if you accept this offer and use our service, your lender may not agree to participate in a Short Sale of your property.
Thank you!
