Good companies do not ask for up front fees, nor for you to sign your house over to them. They don’t make outrageous statements and promises that they can not do.
One is that we guarantee you that we will modify your mortgage, we have a 100% approval rate.
Good companies get paid by performing a complete service, especially in the mortgage field and especially during these troubling times.
#1 Check and see if they are listed with the local Better Business Bureau.
#2 Get a reference from at least 3-4 clients this company has done business with before.
#3 See if they are a local company or a company located half way across the country.
#4 See if they have a local number or a number you can call back.
If what they are saying is too good to be true then it probably is.
I hope this has been of some use to you, good luck.
"FIGHT ON"
Good companies do not ask for up front fees, nor for you to sign your house over to them. They don’t make outrageous statements and promises that they can not do.
One is that we guarantee you that we will modify your mortgage, we have a 100% approval rate.
Good companies get paid by performing a complete service, especially in the mortgage field and especially during these troubling times.
#1 Check and see if they are listed with the local Better Business Bureau.
#2 Get a reference from at least 3-4 clients this company has done business with before.
#3 See if they are a local company or a company located half way across the country.
#4 See if they have a local number or a number you can call back.
If what they are saying is too good to be true then it probably is.
I hope this has been of some use to you, good luck.
"FIGHT ON"
References :
I haven’t heard of them but you should do a search on the bar association for your state if they are attorney backed/serviced.
I don’t put any stock in the BBB…it’s a "pay to play" service.
It’s really hard to find out….the best you can probably do is to also check your local department of real estate and attorney generals websites to see if they are listed as one of the "Bad Guys".
And in response to another posting…There’s no problem collecting upfront fees as long as the company is doing it legally.
They should get paid for their work (again, I speaking only of legitimate companies).
I used to be in the loan modification business…and i can tell you that there was a high amount of people that after we got them modified dissapeared and never paid us our fee. We used to take payment after the fact…and had to stop because the same people who arent making their mortgage payments…guess what..didn’t pay us either. And we got them good deals.
If you have the time you might be able to try and do it yourself…I send all my referrals to a self-service program that creates a really good package to send in to the bank. It generates everything for you…foreclosure cost analysis, comps, financials, modification scenarios, hardship letters, etc… in a clean easy to read format for the bank.
you have options.
Good luck from a former insider.
References :