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about principal reduction in nevada

Iamtrying to determine if this is a scam? I HAVE Imformation from the dept.of treasury aboutthis program(PPIP),public-private investment program.I have recieved a letter from sterling mutual in las vegas nevada about this program.Iam curious if anyone hashad success with this program here in nevada?Iam skeptical, but it sounds better than a loan modification.Would appreciate any input,is htis a safe program.

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi schatt!

Welcome to forums!

If you want a loan modification or a principal reduction, then it is better to contact your lender and negotiate with him rather than going for such programs. Depending upon your financial situation, it is your lender who would give you principal reduction. You don't have to contact service providers for this.

Feel free to ask if you've further queries.

Sussane

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

hey schatt i got the same thing in the mail. Did you end up trying anything?

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have been looking into this and the premise seems on the up and up. Although I have not gone further yet, I have set up an appointment with Sterling Mutual to get more info. I'd like to know if anyone has had success or failures with the PPIP principal reduction with Sterling Mutual or any other company. Thanks!

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I am looking at them as well, but haven't found too much info yet. One suggetion is if you do sign up with any of these companies, pay them on a credit card. This way if it doesn't work out as they promised or go out of business, you can get your $$ back. I had delt with a company to do a loan mod for me and they did modify my 2nd but before they could finish my 1st they went out of business. With some persistant work of my own....Amex came through and gave me a full refund.

Someone has had to have worked with them.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

As a former employee I have come to the conclusion that this is indeed a scam. I apologise for making the mistake of believing Leo Flangas a Las Vegas atrtorney and his partener Brian Cutright a convicted scam artist from Arizona involving fradulant credit repair. Sterling Mutual claims to be a brok er for a private Investment/mutual fund that is not one of the 9 companies selected by the U.S. Tresury Department. The AG of Nevada is currently investigating (Gregory Smith) is leading the investigation against SM.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

To continue the topic from above, the AG from California is currnetly investigating SM the same scam.. It is my opinion that they emarked on this program so that they could as a bait and switch for modifications. Those people who were looking for a new answer to there mortgae issues and were behind on their payments could be switched to modifications. The PPIP program was a scam for profit. Their contract stipulated 2 items from which the company to profit from. 1, if they were denied the client would be out $1,800... 2. If the client did not fulfill their contract obligations full filling....... the contract payments ...Continued

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

continued 2. If the client did not fulfill their contract obligations full filling....... the contract payments of $6,000 then SM was not obligated to r-efund anything. In my opinion and as a former employee this is a scam....
-Also you can complain to the DIVISION OF LENDING & MORTGAGES 702-486-0795

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

many employees, who by the way do not even own a home, drink on the job and can not make a sale will often leave reviews or remarks that are untrue. they do this to try to give them some self worth. they are often convicted felons who could no longer be employeed, all i know is this company saved my home and lifemm

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I'm attempting to get money back from a company called Paragon Financial in Scottsdale Arizona. The "contract" lists the name Brian Cutright. I see his name mentioned previously by a "guest" who worked for him and states he's a known "convicted scam artist". I'm wondering if I could get more information about him and his conviction so that I may pursue this creep. Thank you!

[size=9:33d8ff2151][color=Red:33d8ff2151][Email address deleted as per forum rules. Thanks.][/color:33d8ff2151][/size:33d8ff2151]

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I am aslo attemping to get my moent back from them and I have found 3 other poeple. Please email me at "kbaylor@cox.net" if you are interested in joining us in trying to get our money back from them. The Brian Cutright has now flipped his scam into the principal reduction scam and has started a company called Principal reduction Group LLC. With the new law in AZ preventing loan mod groups from charging an up front fee this will be the new scam till it runs its course.

[size=9:58c0b1e9c7][color=Red:58c0b1e9c7][Email address deactivated as per forum rules. Thanks.][/color:58c0b1e9c7][/size:58c0b1e9c7]

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

A lot of us here in Phoenix have been ripped off by Paragon. They changed their name to Principal Reduction Group, all the reduction you'll see is in your bank account with no other results....besides losing your home. We have a group of 5 so far, when we get enough, we'll file a class action suit if they don't refund our money. They have several companies under many names, be careful!!! Brian Cutright is apparently the head of all these scamming places.

Good luck and hope to hear from you....Ken

[size=9:3a6d3f5190][color=Red:3a6d3f5190][Email address deactivated as per forum rules. Thanks.][/color:3a6d3f5190][/size:3a6d3f5190]

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

FTC is charging brian and company with some pretty serious charges.

Read more here: ftc.gov/opa/1996/10/ncf-1.shtm

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I recieved a letter from Sterling Mutual and it sounds to good to be true. A company can get you a principal reduction. I tried making appointment with Sterling Mutual to seek out infomation, but was told they are not accepting anymore clients, due to negotiation procedures have already started. I want to thank you all for your comments because I will not presume a company if theirs any negative feedback . It's better to tried your bank or mortgage company first or call US Treasury Department to find out what companies are on the approval list.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Is there a large enough body to file a suit agains this company? I would like to join this group.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Besides Brian Cutright, who are/were the employees working with this company. Most likely moved all to other companies using this scam.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Brian Cutright is the biggest crook I've ever seen, and he has several partners. I have a group here in Az. and I'm working on a class action suit against this......______. The AG's from a few states have sued him but he seems to still be scamming people. Unreal!!! A few that I know of in our group have lost their homes because of this piece of garbage. Spread the word all over the internet and everywhere else. This guy wants to be famous and I'm going to try and hepl him..(Send him to prison with the big boys!!)

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I rec. a letter from Sterling Mutual telling me that the company has expired their funds so no more work on my note will be done this is 01/15/2011. I paid $6,000 up front> I will be filing a small claims for my remainder of money they owe me.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

We were hooked into the scam of getting a loan modification on our home and reduce the principal. Of course we paid the $6,000, which by the way we had to borrow from a life insurance policy. Now Jennifer O'Leary who was our contact person has been let go, she says the company has exhausted its resources and is closed. You can only get a recording from Jennifer when you call. List of the Phone # (702) 823-1928, (702) 685-4292, (702) 823-1928, (702) 882-6247, (702) 684-7836.(866) 269-0868. The paperwork listed Brian Cutright, Angelina Tavares, Audrey Few, Lisa Hawks, Norma Teran, Mercedes Johnson, Yvonne Storlazzi as designated agents for us. Michael Evans was the person who signed us to a contract and Jennifer O'Leary was the person I talked to on a regular basis. The Company EIN# 27-0398176. Clemente Casillas was the person who took pictures and did an appraisal of our property. His Nevada Broker # 62911 and California Broker # 01113032. Sterling Mutual was located at 530 Bonneville, Las Vegas, NV, but moved to 612 So. 3rd Street, Las Vegas, NV 89101. I am sick about this and don't know where to turn. Are there any options available to us for getting any of our money returned. They did nothing for us. We are out $6,000 and I'm on unemployment, so if anyone can help getting our money back, it would be so greatly appreciated. What a horrible thing to do to people in this economy, when so many are hurting.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Feeling foolish is an understatement. A letter and an email confirm my worst fears. Company is broke, money is gone. Lesson learned, I will be seeking possible remedies, but fear they and money I could not afford ot lose are gone. Listen to the advise above, they were right.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have sent certified letters to address given for Company CO. demanding full payment for them not completeing the contract as described.(They owe everyone a full refund.) Letter came back with a new address for them, and here it is
17200 N. Parimiter Dr. Scotsdale Az 85255-7435 I hope this helps everyone. Send them demandment for payment, then we can persue legal actions. If there's a class action suit let us all know.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If you are a former client or employee of Sterling Mutual and would like to provide information on your experience.

[size=9:39c074729b][color=Red:39c074729b][Email address deleted as per forum rules. Thanks.][/color:39c074729b][/size:39c074729b]

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I also have been trying to locate Brian Cutright for a refund. As of December 2010, the Paragon office in Scottsdale at 17200 N. Parimiter Dr. Scotsdale Az 85255-7435 was vacated. I would like to join this group if a law suit is filed.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I am aware of this company and know for a fact it is a scam! I know all the games they play and feel very bad for all the innocent victims that just wanted help with their homes that got scammed. I was an employee at one time and know how they operated. I wish there was something I could do to help all the people that got scammed by this company.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If there is a group lawsuit I would also like to join.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I also believe this is a scam and would like to know more about the class action suit. Sterling mutual moved from Las Vegas to Phoenix.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

We also received a letter from Sterling Mutual. We were one of the ones that did go through with the loan modification. We gave them $6000. We knew that $1800 would not be refunded. They refunded $2332.30. They still owe us $1877.70 and they are no where to be found. Brian Cutright will not return any calls.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I would like to know more about this class action suit also.

[size=9:3c70ea8c90][color=Red:3c70ea8c90][Email address deleted as per forum rules. Thanks.][/color:3c70ea8c90][/size:3c70ea8c90]

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have also been scammed by this Brian Cutright. Lets get this guy!

[size=9:c1bc505b1e][color=Red:c1bc505b1e][Email address deleted as per forum rules. Thanks.][/color:c1bc505b1e][/size:c1bc505b1e]

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I would like to get in touch with others who have been scammed to put together a class action law suit. They got me for $8000. Anyone with info can contact me .

[size=9:f88ad4c26c][color=Red:f88ad4c26c][Email address deleted as per forum rules. Thanks.][/color:f88ad4c26c][/size:f88ad4c26c]

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Any info on the lawsuit? Please post any info. anyone may have.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have been to court 1 time the sentencing for Brian Cutright is set for Jan. 07, 2013 @1:30. The Case Number is 2011R01503. I testified against him at the hearing and will be testifying again at the sentencing. You can call Debra Waite @ (702) 388-6218 for more infor. I do not know if it is too late for you to get anything from this case or not. However, I will find him no matter where he is (presently in Utah) no matter what it cost this time his money belongs to me and I plan to get what he owes me. I hope there is some kind of justice in the system for scum like him. This currently in the Federal Justice System for sentencing. Edith McGlynn Las Vegas, NV

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If you are part of this lawsuit from the District Attorney's office Las Vegas. I was a Victim Witness at this trial he was convicted, ordered to repay all the victims, given a 5 yr suspened sent this took place Jan 02, 2013.

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smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thanks for sharing the info, Edith!! :)

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

It is a complete scam and Brian Cummings who is behind it was convicted of fraud - at least for the second time in real estate fraud. Too bad, most of the people who lost thousands to this pathetic scam artist will never see a penny back after the lawyers take their share. Evidently, Mr. Cummings rather excels at milking the system and taking very little in serious consequences because he turns right around and does it again.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Sorry, I got the last name wrong up there, it is Brian Cutright, and I too was one of his victims, not really holding my breath at getting anything back. Good luck Edith at nailing his fanny to the wall. He seems to be getting by with so little real consequence. I did hear from the courts/lawyers about his conviction - but they didn't sound real promising about any real recompense.

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