modifications Tag

27 Nov Beware Of Mortgage Modification Scams

How many times have you heard, "If it sounds too good to be true, it probably is"? With the push to save homes through mortgage modification, more companies are promising results that they cannot deliver.

Twice in this last week, I have had potential clients come to me looking for help with mortgage modifications. Each of them had been referred by companies that claim to assist homeowners in foreclosure to obtain a modification. Both lost their homes to foreclosure and it was too late to save anything.

The first homeowner paid $4,000.00 to retain a law firm in California to assist with working things out with their mortgage holder.

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31 Aug Mortgage Modifications Can Hurt

Mortgage modifications can hurt. Here is a summary of a very recent study on mortgage modifications by Alan M. White, Assistant Professor, Valparaiso University School of Law, with my emphasis added. "The gist is that voluntary mortgage modifications are not reducing principal debt, and are in...

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