CROOK ALERT! Home Savers Consulting aka Select Debt Solutions

In Mortage Trouble?

Home Savers Consulting and IndyMac--Perpetrators of Mortgage Fraud

3-7-09 This morning's NY Times carries a front-page story by Michael Powell about the mortgage fraud perpetrated on Waver Brickhouse, a 69-year-old retired New York City employee.

Ms. Brickhouse fell behind on her mortgage payments in 2005 and was referred by her neighbor to Home Savers Consulting. Her neighbor secretly received a referral commission from Home Savers. Home Savers Consulting, a so-called rescue firm, allegedly tricked Ms. Brickhouse into signing away the deed to her home in Brooklyn. Home Savers secretly sold her home, with the help of a mortgage from IndyMac Federal Bank and ran up huge new debts.

Ms. Brickhouse is now trying to convince the FDIC that her mortgage payments should not include $150,000 tacked on by Home Savers and IndyMac. The FDIC is involved because it took control of the now insolvent IndyMac Bank last year.

FDIC officials say they don't want to put Ms. Brickhouse out on the street and want to work out affordable terms based on her financial situation. They have refused thusfar to excuse her from payments on the $150,000 fraudulent charges. Ms. Brickhouse's lawyers say that the FDIC cannont hold her responsible for a fraudulent mortgage, and they are refusing to disclose her finances until the agency drops its claim for the $150,000. Her lawyer said, "Our position is that the mortgage with IndyMac is toilet paper--it has no legal standing...The law for 200 years is that no title can arise from a fraudulent act."

I hope President Obama reads the Times front-page article, picks up the phone and has a heart-to-heart talk with Sheila Bain, head of FDIC! It sounds to me like the agency needs some new lawyers or new guidance for the ones it has. The FDIC is not walking the walk consistently with Obama's "talking the talk" about helping Americans in trouble over their mortgages!

Here's a link to the NYT article. Read it and beware! Home "savers" have sprung up all over the country promising help for homeowners facing foreclosure. Some may be legitimate, however, many collect big fees and fail to deliver the promised help.

http://www.nytimes.com/2009/03/08/nyregion/08scam.html?hp

Fidelity Homesaver Ripoff

More by this Author


Comments 14 comments

JamaGenee profile image

JamaGenee 7 years ago from Central Oklahoma

Thanks for the heads up, Ralph. The FDIC definitely needs to remember who it's working for.


Ralph Deeds profile image

Ralph Deeds 7 years ago Author

Thanks for the comment! I'm not a lawyer, but the FDIC position strikes me as outrageous!


ColdWarBaby 7 years ago

Ralph!

How dare you criticize Home Savers Consulting? This is nothing more than a sterling example of efficient, modern amerikan capitalism at work. They are simply finding a way to profit even during these terrible financial times. They are a shining example of capitalist efficiency.

The neighbour shows real initiative too! She obviously knows how to take advantage of someone in a desperate situation. That's a very useful skill in the capitalist system. She deserves kudos for her aggressiveness and ambition. She should probably start her own predatory business. She shows real "entrepreneurial" spirit!

Now, before you call the men in the white coats, here's the real me.

Every day I see more clear and undeniable proof that my long held conviction about capitalism is correct. It is a cancer within the human race. If this disease is not purged and completely eliminated from society, it will inevitably lead to the death of the host. It's been obvious to me since at least my junior high school years.

I wonder how much more it will take to shock the masses out of denial. Must it reach, once again, the tipping point that pushes the people into bloody revolution? Will the elitists continue to push until millions of citizens reach for their millions of guns and the streets run with blood?


Ralph Deeds profile image

Ralph Deeds 7 years ago Author

The crooks are coming out as a result of the current foreclosure crisis like flies on horseshit as my grandfather used to say. As I've said our system's far from perfect. But I think it's worth a try to save it. Or at least knock a few of the sharp corners of it as I hope Obama's going to do. Tnx, for your thoughtful comment.


Hawkesdream profile image

Hawkesdream 7 years ago from Cornwall

It is my belief, that there are and always will be crooks/opportunists that will crawl out of the woodwork and lay prey to the unfortunate.

there is and always will be people that will grab at straws to solve their plight.

BUT there are also many that once bitten by the predators will disclose the fact and warn others saving them the same anguish.

I believe that the good by far outweigh the crooks even in this day and age.


REUBEN CAMPBELL 7 years ago

I want to agree with the young man who made the video about Fedelity Home Savers they are a rip off do not use them, They will scam you out of your money.


Ralph Deeds profile image

Ralph Deeds 7 years ago Author

Tnx. for your comment.


Bristo 6 years ago

Fidelity Homesavers is now "Select Debt Solutions" they changed their name in an attempt to outrun bad publicity due to scamming people out of money!


Ralph Deeds profile image

Ralph Deeds 6 years ago Author

Thanks for the heads up!


Anna G. 6 years ago

Can't you guys see that you are mixing 2 diff. companies together. Fidelity Homesavers cut my mortgage payment in more than half and saved my home! this is not the same company that you are talking about in Brooklyn NY,


Bad BBB Score 6 years ago

Select Debt Solutions has a D+ with the Better Business Bureau. When you scored a D+ in grade school did your parents celebrate?

Don't trust those guys, they can't be up to any good!


Ken 6 years ago

Select Debt Solutions actually has a "C" rating. They can't get a higher rating because they are not "Accredited" Which means they are not members. Or in other words they haven't paid the BBB for a better rating. The problem is you can't join the BBB if your company does Mortgage Modifications due to the nature of the business regardless of credibility.


Ralph Deeds profile image

Ralph Deeds 6 years ago Author

Thanks for the comment.


Bad BBB Score 5 years ago

Hello Ken Morrison with Select Debt Solutions...

Isn't it true that Select Debt Solutions went out of business?

Isn't it true that Select Debt Solutions now has a F rating?

Isn't it true that you went out of business because you were shut down by the attorney general?

Just trying to clarify.

You guys robbed thousands of people, including me and I hope you get what you dealt blow by blow.

    Sign in or sign up and post using a HubPages Network account.

    0 of 8192 characters used
    Post Comment

    No HTML is allowed in comments, but URLs will be hyperlinked. Comments are not for promoting your articles or other sites.


    Click to Rate This Article
    working