Because of the present-day boom in foreclosures and people needing loan modification, there are a lot of con men around. The scams usually involve a company giving you all sorts of guarantees in exchange for an upfront payment for their 'services' . You will need to learn how to avoid these cons.
Most homeowners are searching for fast results when going for loan modification. If you get a guarantee, you can be almost one hundred percent sure it's a scam. Because the loan modification is not in charge of the decision, they can't guarantee anything about the results.
Don't believe the hype of getting your mortgage loan modification approved within a week or two weeks. It usually takes lenders thirty days minimum to consider a loan modification application. Because they have no intention of making good on their promises, the fraudulent loan modification companies will say anything to get your signature. Because they just want the upfront payments, they will agree to anything you want.
Don't be lazy in finding out facts about the company you want to deal with when doing mortgage loan modification. Don't be pressured into signing with some money hungry company when it doesn't feel right. There are enough of those around, and you need to be careful who you give your money.
Author: RickGreene
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