Washington State Department of Financial Institutions

Consumer Alert:
Postpone My Sale LLC

Fraudulent Foreclosure Trustee Advertisement

May 25, 2012

There have been reports that Postpone My Sale, LLC has solicited Washington State consumers, stating that they may postpone foreclosure auction dates on residential mortgage loans that are scheduled for foreclosure sale.

The exact nature of the services or products allegedly available to consumers to delay foreclosure sales is not clear from the advertisement.

Consumers are warned that companies offering to provide loan modification, short-sale, or other financial services aimed at helping homeowners avoid foreclosure sales are required to be licensed in Washington State, and many must hold a license issued issued by the Department of Financial Institutions prior to engaging in these services, including the need to obtain loan originator licenses for each individual employee negotiating the terms and conditions of the workout solution on behalf of the Washington consumer.

Postpone My Sale, LLC does not hold the necessary business or regulatory licenses needed to perform these services in Washington State. As such, they are unlicensed service providers.

Postpone My Sale, LLC, has mailed advertisements to Washington consumers that include the consumer’s name, property address, and the name of the foreclosure lender. This information is obtained from public sources. The advertisements variously state that due to federal, state and local laws in Washington, Postpone My Sale, LLC can delay a property foreclosure sale for up to 40 months, and they guarantee their service in writing.

The advertisements received by Washington consumers identify Postpone My Sale, LLC contact information as 5000 birch Street, West Tower Suite 3000, Newport, California 92660. The California Secretary of State, Corporations Division does not identify a business license for Postpone My Sale, LLC. The contact telephone listed on the advertisement is 1-877-874-7090.

The Department of Financial Institutions’ research reveals a second address associated with Postpone My Sale, LLC as 16192 Coastal Highway Lewes, Delaware 19958. The Delaware Department of State, Corporations Division shows a business license that has been forfeited.

Report Fraud

If you feel you have been a victim of a potentially fraudulent transaction involving Postpone My Sale, LLC, please contact the Federal Trade Commission at 1-877-FTC HELP (1-877-382-4357), or online at www.ftc.gov. Also, victims should report their experiences to the Internet Crime Complaint Center at www.ic3.gov.

If you feel that you have been a victim of an unlicensed transaction with these entities, please contact the Washington State Department of Financial Institutions and file a complaint. The online complaint form is available at www.dfi.wa.gov.

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