Loan Modification: Did you pay for yours?

Just a bit of FYI if you have paid someone for your loan modification before having it modification:

Effective October 11, 2009, the National Association of Realtors helped aided a law being passed to protect borrowers with financial hardships. It reads that No Persons, Including Real Estate Brokers/Agents and Attorneys, May Obtain an Advance Fee for Negotiating Any Form of Loan Modification.

Beware, there are still many brokers and lawyers collecting advanced fees for this service. It is strictly illegal.

If you have come across ANYONE who has offered to modify your loan for ANY UPFRONT dollar amount, please report them to your attorney general.

For the state of CA, click on the link here: http://ag.ca.gov/loanmod/

If you are considering working out your loan, there is no need to pay anyone.  The Hope Now website can help answer all your questions.

You may also contact me if you need further assistance and I will do my best to point you in the right direction.

I Can’t Stand Scam Artists!

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