Home Advocate Trustees
Unlicensed Loan Modifications
Posted: April 15, 2013
The Washington State Department of Financial Institutions (DFI) has received complaints from consumers who alleged they were promised loan modifications of their existing home mortgages by Home Advocate Trustees LLC (Home Advocate Trustees). The consumers were contacted by several Home Advocate Trustees’ employees including Renae Lee and Sarah Jane King, whom DFI has been unable to locate.
The consumers were required to sign Quit Claim Deeds to transfer their property to Home Advocate Trustees for consideration of $10.00. The consumers were then required to pay advance fees in the form of rent to reside in the same homes while Home Advocate Trustees promised to contact the consumers’ lenders in what it characterized as a legal defense with the goal of purchasing the underlying notes at a discount for future sale. The consumers were asked by Home Advocate Trustees to not contact their lenders or to respond to foreclosure notices.
The consumers did not receive the promised modification services or the guaranteed return of their property after 30 days, and have been unsuccessful in contacting Home Advocate Trustees to inquire about the status of their loan modifications or to request refunds. Home Advocate Trustees may also be doing business as WalkAwayToday.org.
Home Advocate Trustees listed its phone number as (253) 656-4713 (no longer in service) and listed its fax number as (206) 339-8160 (no longer in service). Home Advocate Trustees has purported business addresses of: 8201 164th Avenue NE, Suite 200, Redmond, WA, 98502; and 13223 Black Mount Road, Suite 1300, San Diego, CA, 92129. Home Advocate Trustees operated websites at www.homeadvocatetrustees.com and www.WalkAwayToday.org.
Home Advocate Trustees is not licensed by DFI as a consumer loan company, mortgage broker, or loan originator. The company is not actively registered to conduct business in Washington State by the Secretary of State.
DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI's website at www.dfi.wa.gov.
If you are suspicious of unlicensed activity by a mortgage broker, consumer lender, money transmitter, or escrow agent; contact DFI at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.
If you feel you have been the victim of a loan scam, contact the Federal Trade Commission at 1-877-FTC-HELP (1-877-382-4357), or online at www.ftc.gov.
If you feel you have been the victim of a loan scam involving the Internet, contact the Internet Crime Complaint Center at www.ic3.gov.
If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.