Residential Relief Foundation, a company offering loan modification services, is the subject of a consumer warning in New Mexico.
Offers made through the U.S. mail by Residential Relief Foundation include the use of a logo similar to the Great Seal of the United States, and claims use of their loan modification program would:
• lower monthly payments;
• eliminate any past due amounts; and
• make consumers “current” on their mortgage.
Residential Relief Foundation promised consumers their results would be speedy, charging an upfront fee of $1595.00. A two-payment plan was offered but full payment required prior to any action to be made by the company.
The Federal Trade Commission has filed actions against Residential Relief Foundation. At the FTC’s request, a federal court halted the operation, appointed a receiver, and froze the defendants’ assets pending trial. Actions by Residential Relief Foundation also violate law in the State of New Mexico.
New Mexico Attorney General Gary King’s Consumer Protection Division issued the warning.
AG King’s Consumer Protection Division continues to receive complaints about Residential Relief Foundation. New Mexico consumers who receive offers from Residential Relief Foundation should contact the New Mexico Attorney General’s Office at 1-800-678-1508 and the FTC.
More information on Residential Relief Foundation can be found atwww.ftc.govandwww.ripoffreport.com. The Better Business Bureau gave Residential Relief Foundation an “F” rating.