Skip to main content

Cookies on BBB.org

We use cookies to give users the best content and online experience. By clicking “Accept All Cookies”, you agree to allow us to use all cookies. Visit our Privacy Policy to learn more.

Cookie Preferences

Many websites use cookies or similar tools to store information on your browser or device. We use cookies on BBB websites to remember your preferences, improve website performance and enhance user experience, and to recommend content we believe will be most relevant to you. Most cookies collect anonymous information such as how users arrive at and use the website. Some cookies are necessary to allow the website to function properly, but you may choose to not allow other types of cookies below.

Necessary Cookies

What are necessary cookies?
These cookies are necessary for the site to function and cannot be switched off in our systems. They are usually only set in response to actions made by you that amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not work. These cookies do not store any personally identifiable information.

Necessary cookies must always be enabled.

Functional Cookies

What are functional cookies?
These cookies enable the site to provide enhanced functionality and personalization. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies, some or all of these services may not function properly.

Performance Cookies

What are performance cookies?
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.

Marketing Cookies

What are marketing cookies?
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant content on other sites. They do not store personal information directly, but are based on uniquely identifying your browser or device. If you do not allow these cookies, you will experience less targeted advertising.
      Country
          Country

          Find a Location

          Freedom Financial Mortgage has 1 locations, listed below.

          *This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

            Country
            Please enter a valid location.

            Business ProfileforFreedom Financial Mortgage

            Loan Modification

            Current Alerts For This Business

            Government Action: BBB reports on known government actions involving business’ marketplace conduct::
            Gov. Action
            According to a press release dated January 8, 2013, the Federal Trade Commission obtained a settlement order resolving charges against a nationwide scam operating from the Dominican Republic and banning the defendants from providing mortgage assistance relief.

            Pretending to be in Chicago, the Freedom Companies operation allegedly peddled fake mortgage assistance relief to financially distressed Spanish-speaking homeowners in the United States. At the request of the FTC, a U.S. district court halted the operation in July.

            The FTC settlement order bans the eight defendants - David F. Preiner, Daniel Hungria, Freedom Companies Marketing, Inc., and five other companies controlled by Preiner and Hungria - from marketing any mortgage assistance relief products or services. The settlement also prohibits the defendants from making misleading claims about any product, service, plan, or program that they market or advertise.

            Filed in July 2012, the FTC's complaint charged the defendants with violating the FTC Act and the Mortgage Assistance Relief Services Rule, known as the MARS Rule. According to the complaint, the defendants promised to dramatically lower homeowners' monthly mortgage payments in exchange for a hefty upfront fee, and collected more than $2 million in fees in three years, but failed to provide homeowners with the promised services. Speaking in Spanish and targeting homeowners behind in their payments or facing foreclosure, telemarketers empathized about the tough economy and claimed to provide information about federal mortgage assistance programs, according to the complaint. In lengthy sales calls, the telemarketers falsely claimed to be affiliated with or approved by the consumers' lenders or the federal government, "making sure to mention President Obama or the (federal) Making Home Affordable Program by name," according to documents filed with the court.

            The settlement also imposes a $2.39 million judgment, which reflects the full amount of consumer injury during the three years before the operation was shut down. The judgment will be suspended due to the defendants' inability to pay after they turn over the operation's remaining $17,337 in assets. If it is determined that the financial information the defendants gave the FTC was untruthful, the full amount of the judgment will become due.

            Charging what they said was a one-time advance fee of $995 to $1,500, the callers allegedly falsely promised homeowners a mortgage modification in 30 to 90 days, often advising them to stop paying their lenders.

            Homeowners who signed up received a batch of forms in the mail that required them to provide extensive personal and financial information and pay an advance fee, according to the complaint. After paying the fee and not hearing further from the defendants for weeks afterward, some homeowners who managed to reach a live representative were told that the modification process was underway, but that they needed to pay up to several thousand dollars in additional fees. In the end, the FTC alleged, few homeowners received a loan modification - or anything else of value from the defendants. And what they did receive, they could have gotten for themselves for free.

            In addition to Freedom Companies Marketing, Inc., Preiner, and Hungria, who was added as a defendant shortly after the complaint was filed, the settlement order also names: Freedom Companies Lending, Inc.; Freedom Companies, Inc.; Grupo Marketing Dominicana; Freedom Information Services, Inc.; and Haiti Management, Inc.

            The Commission has advice for consumers about managing their mortgages. For more information see: Mortgage Relief Scams in English, and Estafas de alivio para deudores hipotecarios in Spanish.

            The Commission vote authorizing the staff to file the proposed consent agreement was 5-0. The FTC filed the proposed consent agreement in the U.S. District Court for the Northern District of Illinois, Eastern Division, and the court granted the FTC's request on December 26, 2012.

            NOTE: This consent decree is for settlement purposes only and does not constitute an admission by the defendant that the law has been violated. Consent decrees have the force of law when approved and signed by the District Court judge.

            The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC's online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC's website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

            Additional business information

            Believed to be out of business:
            According to information in BBB files, it appears that this business is no longer in business.
            See all additional business information

            At-a-glance

            Customer Reviews

            1/5stars

            Average of 1 Customer Reviews

            Customer Complaints

            2 complaints closed in last 3 years

            0 complaints closed in last 12 months

            Customer Reviews are not used in the calculation of BBB Rating

            Reasons for BBB Rating

            Business Details

            BBB File Opened:
            7/22/2009
            Business Started:
            9/8/2005
            Business Started Locally:
            9/8/2005
            Type of Entity:
            Corporation
            Alternate Business Name
            • Freedom Companies
            • Freedom Companies Lending
            Business Management
            • Mr. David Preiner, President
            • Mr. Daniel Hungria, Vice President
            Contact Information

            Principal

            • Mr. David Preiner, President

            Customer Contact

            • Mr. David Preiner, President
            Additional Contact Information

            Fax Numbers

            • (312) 962-5643
              Other Fax

            Phone Numbers

            Customer Complaints

            2 Customer Complaints

            Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews

            File a Complaint

            Most Recent Customer Complaint

            08/26/2022

            Complaint Type:
            Billing/Collection Issues
            Status:
            Unanswered
            Effective August 01 2022 AmeriHome Mortgage (Excellent Lender) sold my loan to Freedom Mortgage Corporation, as follows, with no physical address on any correspondence, only as follows:PO ************************************************** ************ (Not showing for me to select in this letter to you).I understand mortgage companies selling mortgages, yet they are responsible to submit letters of introduction in a timely fashion. Though my past mortgage company stated to make all further payments to Freedom Mortgage and no longer to AmeriHome, Freedom Mortgage submitted an email, with the wrong account number and addressed me by the wrong name. I tried on August 01 2022 to setup an online account, yet was denied access. No letter came from FM until August 15, 2022, with explanation on where to submit payments. I have NO LATE PAYMENTS with AmeriHome Mortgage! I take my credit seriously. I set up an online account, per instructions, and made payment, with additional equity on August 18, 2022. I received a letter, stating my payment was past due!!! I had no way to make a payment without that letter that they submitted 15 AFTER they were responsible for my loan. They had no reason to send that letter. On top of that, when I further went back into the online account and setup reoccuring payments on the first of every month, effective September 01 2022, they sent an email correspondence stating "In the event your monthly loan payment increases or decreases in the future, the *** draft amount will automatically adjust to the new amount." I do not have a flexible interest rate... my loan is set, with no adjustments. I pay my own insurance and property taxes, therefore there is NOTHING they can adjust with my loan, as documented through the title company. I am extremely concerned with a new mortgage company that uses those tactics. Also, don't they have legal obligations in which they should have contacted a new customer prior to, not after the effective date of the first payment?

            Customer Reviews

            1 Customer Reviews

            What do you think? Share your review.

            How BBB Processes Complaints and Reviews

            Start a Review

            Most Recent Customer Review

            Brad T

            05/01/2023

            Will lie to you. They lead me on for six months doing a modification. Telling me don't make your payment tell we approve you. We will move those payments to the end of my loan interest free. Six months later they tell me " sorry you've been given the wrong information for the last six months. Pay up or lose your house" Please stay away from this company.

            Local BBB

            BBB of Chicago & Northern Illinois

            BBB Reports On

            BBB reports on known marketplace practices.

            BBB Business Profiles may not be reproduced for sales or promotional purposes.

            BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

            When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

            BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.

            As a matter of policy, BBB does not endorse any product, service or business.