Has anyone had a loan modification?

Question by declaar: Has anyone had a loan modification?
What is the process? did you pay money up front? who did you use? right now I’m speaking to someone from Homeowners Relief Center….

Best answer:

Answer by klcc
Looked into it and apparently there must be hardship involved. The Co (prefer not to give name) I was in contact with sent the application and there is 950 fee unrefundable should the modification cannot be done. The thing that concerned me is that the application does not state on what basis the modification would be done, or what defines me as a candidate to get the modification (just want to lower the interest rate) there is a chance to be getting into a lose situation by losing the 950 should the bank holding the loan not accept the modification. In addition to the 950 there are two more fees for about 1500. ea. Want to hear what info you get…

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Comments

  1. A. Nash says:

    Typically your best bet is to hire a professional company to handle the loan modification process for you and yes most charge an up front fee. It is in every homeowner’s best interest to get a referral to a reputable company with verifiable results.

    I offer free consulting services to struggling homeowners and people who are overloaded with credit card debt. I educate people about their options and analyze their specific circumstances to help them find the best solution. As I mentioned, my services are free.