Washington State Department of Financial Institutions

Consumer Alert:
Prevention Solutions LLC

Not Licensed To Provide Loan Modifications

January 09, 2012

The Washington State Department of Financial Institutions (DFI) is warning consumers to verify the license of any lending professional with which they are considering doing business.

Prevention Solutions, LLC was reported to have mailed advertisements to consumers regarding loan modification services. It appears this company may also be involved in a mortgage rescue scheme.

Prevention Solutions, LLC is not licensed by DFI, or registered to do business in Washington by either the Department of Revenue or the Washington Secretary of State.

Prevention Solutions, LLC has been associated with an address location of 4190 Green River Road, Corona, California 92880, a telephone number of 1-951-823-5333, and website address of www.preventmyhomesale.com.

Washington State law requires all individuals and companies providing third-party loan modification services to Washington residents be licensed by DFI. Additionally, the Federal Trade Commission’s Mortgage Assistance Relief Services (MARS) Rule prohibits entities from requiring upfront fees prior to performing loan modification services.

Report Fraud

If you are suspicious of unlicensed activity by a mortgage broker or loan originator, please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you feel you have been a victim of a mortgage rescue scheme, please contact the Washington State Office of the Attorney General Consumer Protection Division at 1-800-551-4636.

If you feel you have been the victim of a loan scam, please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357), or online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet, please contact the Internet Crime Complaint Center at www.ic3.gov.

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