Matt at SteadFastFinances tipped me off to a possible loan-modification scam running ads on network TV.

Some consumers complain they get talked into paying large upfront fees and then FedMod just dodges your calls, never actually doing anything to modify their mortgage. When you try to escalate, you're told to fax back in your paperwork and they'll review your case. This cycle can repeat several times. This is if you're lucky enough to reach a person or get them to return your call. The BBB rates FedMod.com an "F" but the loan-modification company is running ads on networks like CNBC. Their BBB report says:

Complainants allege unfulfilled contracts, misrepresentation of services, and inability to obtain refunds. Customers complain they paid this company to obtain mortgage loan modifications which were not provided. In some cases customers allege once they paid the company the fees they requested, complainants were unable to contact the company, and the company failed to respond to their calls, emails or inquiries. The company responded in a few cases by agreeing to refund the customer.

It's evident by their name that they're trying to glom some association from the real Federal Housing Authority (FHA) Housing and Urban Development (HUD) loan modification program.

Similar tactics to those mortgage mod infomercials pretending to be "network news."

If you are actually in need and want to take advantage of the new FHA-Secure program, click here. HUD will help you find an approved lender and a HUD-approved counselor to answer your questions about the program.

If you'd like more information about the FHA and how they can help you refinance your home and avoid foreclosure, call HUD at: 1-800-CALL-FHA, 1-800-225-5342.

Federal Housing Administration

Report: FEDMOD.COM - FLM - Federal Loan Modification [RipOffReport]
Fedmod - Federal Loan Modification - FLM No calls No Service No Results Los Angeles California [ScamFraudAlert]
Loan Modification Specialist (Aliso Viejo/Irvine) [Craigslist]
California Company’s Advertising Misleading Consumers [BBB]