BBB Business Review
This Business is not BBB accredited
Legal Loan Bailout
Phone: (800) 788-5085 Fax: (858) 678-0093 14288 Danielson St #101, Poway, CA 92064 ! Legal Loan Bailout is Believed to Be Out of Business !
BBB Business Reviews may not be reproduced for sales or promotional purposes.
This company offers forensic loan audits and loan modifications.
This business is not BBB accredited.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Based on BBB files, this business has a BBB Rating of No Rating. The reason is as follows:
- This business has no rating because BBB has information indicating it is out of business.
Customer Complaints Summary
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||0|
|Total Closed Complaints||0|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||0|
Type of Entity
Business ManagementMr. Raj Manghani, President
Number of Employees
Alternate Business NamesCapital Express MRE Inc
What to Know Before Pursuing a Loan Modification
A loan modification is a process where you and your lender or loan "servicer" agree to modify one or more of the terms of your home loan. This can include lowering your interest rate and extending the length of the loan. The ultimate goal is, and should always be, to help you keep your home and to provide you with an arrangement that works for your financial situation.
Many lenders have free loan modification or other programs for homeowners in financial distress. The BBB encourages you to contact your lender directly to see what assistance is available to you. Beware of companies or individuals who ask you to cease communication with your lender or accept money on your lender’s behalf. Money should be paid to the lender directly. If you prefer not to deal with your lender, you may wish to contact a housing counselor that has been approved by the U.S. Department of Housing and Urban Development (HUD) as they may be able to assist you for free. You can contact HUD at 1-800-569-4287 or www.hud.gov. You may also wish to contact the HOPE NOW Alliance, a cooperative effort of home loan counselors and lenders. HOPE NOW can be reached at 1-888-995-HOPE or www.hopenow.com.
Licensed individuals and companies that can perform loan modification work on your behalf include real estate brokers, real estate salespersons under the supervision of their employing broker, and attorneys who offer loan modification services in the scope of their practice as an attorney. Check out licensed real estate brokers and salespersons with the Department of Real Estate at www.dre.ca.gov or by calling (916) 227-0931. Check licensed attorneys with the State Bar of California at www.calbar.ca.gov or (415) 538-2000. ALL companies offering foreclosure prevention services, including loan modification, are required to be registered with the Attorney General's office as of July 1, 2009. You can check the list of registered companies at 800-952-5225 or http://ag.ca.gov/loanmod.
A common practice among companies offering loan modification services is accepting a fee prior to commencing work. On October 11, 2009 Governor Schwarzenegger signed Senate Bill 94 stating companies are NOT allowed to take advance fees for loan modification or mortgage loan forbearance services. Formerly real estate agents were issued a "no objection" letter from the Department of Real Estate to collect advance fees. This agreement is no longer in effect. Attorneys were formerly allowed to accept advance fees, but are also not allowed to take advance fees for loan modification or mortgage loan forbearance services. More information regarding this bill can be found at http://www.dre.cahwnet.gov/pdf_docs/SB94WebAnnouncement(brokers).pdf.
Beware of individuals or companies that ask you to sign a power of attorney or ask that you transfer the title of your home. These actions allow the party with the power of attorney or title to evict you, sell your house without your permission, or strip any remaining equity from your home. The BBB encourages you to read and understand ALL documentation before signing. If you have any questions and/or are unclear about any terms and conditions, contact the appropriate licensing agency. High-pressure sales tactics, instructions to miss payments, and claims that sound too good to be true are signs that you may be dealing with an unscrupulous individual.
Check with your local BBB for company reports and further tips and referrals to sources that can help.