Hypotec Lending used a bait and switch type selling practice to get a hold of personal information and documents.

Received a call from Hypotec Lending on the 24-25 of April 2008 about re-financing our property. Talked

with a person name Anne Udoh (877-847-8047 ext. 2232). She was going to talk with an appraiser and get back to me on Monday with re-finance possibilities. On Monday April 28, 2008 I got a call from a Chris Channel (877-847-8047 Ext. 2233)

who said Anne Udoh was out "sick" and he was her "supervisor" and was handling her loans today. He told me that he had talked with two appraisers that would appraise my property at the value we needed to do the loan, and I to complete the loan process I needed to send him a "Borrower's Authorization" and many other personal information documents such as social security numbers, bank statements, copies of loan documents, etc. He told me we could close in 7 days. I complied with all his requests, sent him much personal identity information required to proceed with the proposed loan. He sent me an email saying he was calling me back by 3 PM. He never called.

The next day I sent another email requesting he call me. I soon received a phone call from another person called Sacha Berdugo from their "Loss Mitigation" department. How my wife went from doing a loan, having a 740 credit score, to needing "Loss Mitigation" in one day I cannot fathom so I immediately became suspicious. This guy was so agressive, high pressure and heavy handed that I knew immediately I had been scammed. He gave me this story that the appraisers made a "mistake", and now I was "upside down" in my property and the only way out was to "hire" his loss mitigation department at a fee of $2, 000 to "re-negotiate" my loan. Claiming a "98%" success rate he tried to high pressured me into signing an agreement to let him "represent me" to renegotiate my mortgage. The agreement is really scary AND he refused to provide any guarantee in writing or refund should they NOT be successful in re-negotiating my loan. Of course at this point I declined any further involvement with these guys and demanded that they shred all my documents. The experience was so scary that we immediately upgraded our Identity Theft Protection service.

One thing I noticed with these people is that they never put anything solid in writing, it was all verbal over the phone, so of course they can deny doing anything inappropriate.

Hypotec Lending used a bait and switch type selling practice on me to get a hold of personal information and documents.

Received a call from Hypotec Lending on the 24-25 of April 2008 about re-financing our property. Talked

with a person name Anne Udoh (877-847-8047 ext. 2232). She was going to talk with an appraiser and get back to me on Monday with re-finance possibilities. On Monday April 28, 2008 I got a call from a Chris Channel (877-847-8047 Ext. 2233)

who said Anne Udoh was out "sick" and he was her "supervisor" and was handling her loans today. He told me that he talked with two appraisers that would appraise my property at the value we needed to do the loan and I needed to send him a "Borrower's Authorization" and many other

personal information documents such as social security numbers, bank statements, copies of loan documents, etc.

I complied with all his requests, sent him much personal identity information required to proceed with the proposed loan. He sent me an email

saying he was calling me back by 3 PM. He never called. The next day I sent another email requesting he call me. I soon received a phone call

from another person called Sacha Berdugo from their "Loss Mitigation" department. How my wife went from doing a loan, having a 740 credit score, to needing "Loss Mitigation" in one day I cannot fathom so I immediately became suspicious. This guy was so aggressive, high pressure and heavy handed that I knew immediately I had been scammed. He gave me this story that the appraisers made a "mistake", and now I was "upside down" in my property and the only way out was to "hire" his loss mitigation department at a fee of $2, 000 to "re-negotiate" my loan. Claiming a "98%" success rate he tried to high pressured me into signing an agreement to let him "represent me" to renegotiate my mortgage. The agreement is really scary AND he refused to provide any guarantee in writing or refund should they NOT be successful in re-negotiating my loan. Of course at this point I declined any further involvement with these guys and demanded that they shred all my documents. The experience was so scary that we immediately upgraded our Identity Theft Protection service.

One thing I noticed with these people is that they never put anything solid in writing, it was all verbal over the phone, so of course they can deny doing anything inappropriate.