Description

This was a scam claiming to be a government program ( the cares act ) designed to help people who have had issues paying their mortgage due to illness for example. They suck you in with an interest rate ( if you qualify ) of 2.5%! You get on multiple conference calls speak with multiple departments and even docusign documents. Everything looks very legit! at the end of the process after they ask for a certified check or money order. They send you a 60 page document with tabs to sign, initial and date. They tell you to send the packet to PennieMac. The problem is PennyMac only does loan modifications on loans originating from PennyMac and not YOUR mortgage holder. PennyMac will have no record of you!