Don't panic. Get detailed information about the deadlines you face in resolving your problems. Pay special attention to the date on which you would lose legal right to ownership.  Everyone is aware of the foreclosure scams these days and predatory practises of some companies to scam unfortunate homeowners in their hour of desperation.  While there are scams with loan modification and foreclosure, there is also very high quality mortgage negotiators that can be a blessing when it comes to getting a home loan modification. If you want to avoid a scam the easiest way is to work with loan modification provided through an attorney or lawyer specialized in foreclosure and loan modifications. Don't work with someone that intends to do the negotiations themselves on your behalf. Beware of these people that attempt such important negotiations for you,  mortgage loan modification scams can be avoided by working with a reputable attorney service.  An attorney to represent you during the foreclosure process will give you peace of mind throughout the process as they are aware of all the intricate details and they will see that the necessary precautions are taken to protect you and your home investment.

Another thing with scams involving home loan modification and foreclosures. There are so many sites popping up everywhere but these are not really companies or reputable organizations to help with loan modification.  These are lead generating companies which then sell your name to a few people up and down the street that desire to become involved in loan modification.  The message here, don't be submitting your information to these single page sites that pop up to get your registration. You won't even know they transferred your information to a few other places.  Protection from fraud and scams about foreclosure and loan modification definitely start with you. Be sure that your loan modification professional is keeping your information confidential.  With us your information is safe. We are not a lead generating company and when you submit your information to us it is kept in strict confidence. We take every step to protect you from any scams or fraud with loan modification and foreclosure programs. We only work with experienced attorneys for loan modification and foreclosure services. Attorneys also do the negotiating for our debt management programs and credit card reduction plans. With a real attorney providing the services it is the best protection as little broken rules can result in the loss of your home. Don't let this happen to you. Work with us or someone like us. We're professional and we fight to get you the best results possible for loan modification and credit card debt restructuring.

What about these mortgage loan modification companies claiming they provide me the best opportunity for a loan modification? The majority of loan modification companies are new companies to get in on the start of the loan modification boom.  Since some homeowners are not comfortable dealing directly with their lender, or do not think they have sufficient knowledge to actually get the desired outcome, a loan modification company can represent you with an upfront fee.  Although certain state laws prohibit them from receiving an upfront fee if you are 3 months behind and in some cases two months behind. Some of these companies are reputable and want to honestly help you but don’t have the experience or proper personnel to get it done. As a rule of thumb, before you agree to anything make sure to learn about the loan modification process so you can be ready to have loan modified correctly with the proper company.

A legitimate loan modification company is one which has an attorney in the office, where your file is being processed by experienced paralegals, not a “loan processor who is beginning a new career path”. Also, you should be speaking with a knowledgeable bank debt negotiator or they at least have one on their roster.  More importantly, use a company that performs a forensic analysis on your loan file for Truth in Lending and RESPA violations. Companies like these have usually been around for years

Loan modification companies’ fees may be billed either to the borrower or to the lender.

If the company is engaged by the borrower, the borrower may be assessed the fee, sometimes up front and without guarantees of results. With most legitimate agencies payment is not due unless and until the file has been fully reviewed and accepted for the process. In this case, payment is made to the agency working for the borrower and in this case, payment is usually submitted along with an agreement for services and supporting documents to the file previously presented for acceptance. In other cases, even if the borrower engages the company’s services, the lender may be charged the fee,in the case of a successful renegotiation.

Never sign away ownership via a quitclaim deed or other means. Be especially suspicious of offers to lease back your home, in order to buy it back over time. These offers are weighted against you.

Never make your mortgage payments to anyone other than your lender. If you can't pay, do not ignore warning letters from your lender; contact them instead.

Beware of any home-sale contract in which you are not formally released from liability for your mortgage. Make sure you know the rights you are giving up and that you agree to give them up.

Don't sign anything with blank lines or spaces; information could be added later without your knowledge. Avoid scams with foreclosure and scams involving loan modification. Protect your information  and your home at all times.

                                                

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