Newport Beach Man Probed In Alleged Loan Modification Ripoff; Clipped Approximately 50 Homeowners Out Of $175K+, Say Cops

In Newport Beach, California, CBS 2/KCAL-TV Channel 9 report:

• Police say a Newport Beach man ripped off distressed homeowners with loan modification businesses that did nothing to help his customers save their homes. Larry Ervan Gunter, 34, is accused of taking money from homeowners having trouble making their mortgage payments and promising to work out better terms on their loans, but never doing anything on their behalf, Sgt. Evan Sailor said.

• Gunter owns Help Modify Now, 4665 MacArthur Court, Suite 100, and Consumer Resource Law Center, 301 Shipyard Way. Gunter's companies charge homeowners at risk of foreclosure $1,500 to $3,500 to start a loan-modification process, Sailor said. About 50 customers told police that once they made their initial payment, they never heard back from anyone at the companies and all attempts to contact them were unsuccessful. The victims lost more than $175,000, Sailor said. Gunter was arrested Tuesday on a probation violation, Sailor said. Newport Beach police are working with the Orange County District Attorney's office to determine what charges should be filed. Anyone else who believes they are victims can call Detective Bob Watts at (949) 644-3799 or (800) 550-NBPD.

Source: Newport Beach Man Accused Of Loan Mod Fraud.