Quantum Law Center - Loan Modification Scam

Date Posted: 
Tuesday, February 22, 2011

The Washington State Department of Financial Institutions is warning consumers to verify the license of any financial professional they are considering doing business with.

It has been reported that Quantum Law Center, quantumlawcenter.com, is offering loan modification services through attorneys listed on their website. The Department has contacted several of the attorneys involved, none of whom state that they are currently affiliated with Quantum Law Center.

Quantum Law Center solicits homeowners who are having difficulty making their mortgage payments, promising to use supposed loopholes and flaws in loan paperwork to force banks to renegotiate with the borrower. However, after the borrower pays money to Quantum Law Center no services are provided and the company no longer communicates with the borrower.

Quantum Law Center claims to have an address of 400 East Pratt St. 8th Floor, Baltimore, MD, 21202 and a contact telephone of 866-395-2803. Quantum Law Center has not responded to the Department’s requests for information.

The company is not licensed by the Washington State of Department of Financial Institutions. The company is not registered to do business in Washington by either the Department of Revenue or the Washington Secretary of State.

If You Feel You're A Victim

If you feel you have been a victim of a loan scam, please contact the Federal Trade Commission at 1-877-FTC HELP (382-4357), or online at www.ftc.gov. Because the scammers may have access to bank account information and social security numbers, consumers who have used this company to try and obtain a loan should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online on their website.