Consumer Alert
Silverstreet Media

http://www.SaveHomeProgram.com

Advance Fee Loan Modification Scam

October 02, 2013

The Washington State Department of Financial Institutions (DFI) has received a complaint from a consumer against an entity by the name of Silverstreet Media d/b/a SaveHomeProgram.com. This entity appears to be operating an advance fee loan modification scam with a web address of http://www.SaveHomeProram.com. On this website the entity identifies that the business claims they are not a “mortgage relief service”, but that what they do is match consumers with partners in their network that may offer “foreclosure prevention services.” The website provides the following contact information for the entity:

SaveHomeProgram.com owned and operated by Silverstreet Media
525 North Tryon Street, Suite 1600
Charlotte, NC 28202.
1-888-764-2580
info@savehomeprogram.com

The consumer called the phone number from the website at that time which was (800) 399-1616. The consumer indicated the following occurred from their call:

• Consumer spoke to an individual who identified themselves as an Intake Specialist (Agent 1) who claimed they were a “full service real estate firm” that specializes in loan modifications.
• The Agent 1 requested existing residential mortgage loan information and transferred the consumer to an individual who claimed to be a “Senior Case Manager” (Agent 2).
• Agent 2 stated she worked for a “mortgage relief department” and the tool they use to do loan modifications was created by the US Treasury Department.
• Agent 2 informed the consumer a “retainer fee” was required of $2495 to perform loan modification services which also covered the cost of legal representation and that they had attorneys all across the country.
• Agent 2 identified they had two attorneys they partner with in Washington State, neither individual are identified as being licensed attorneys with the Washington State Bar Association.

The website has since changed its phone number to (888) 764-2580.

DFI has been unsuccessful in contacting the entity at the address provided and has been informed this entity is not at this location. DFI has also not been able to identify any of individuals involved with this entity.

DFI has no record of either Silverstreet Media or SaveHomeProgram.com being licensed. These entities are also not registered with the Washington Secretary of State or the Department of Revenue.

Verify Licenses

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.

Report Fraud

Washington State residents, if you are suspicious of unlicensed activity by a lender please contact the Washington State Department of Financial Institutions at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you live in another state, find your state regulator.

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; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available 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 online 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.