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3 Ways to Avoid and Identify Fake Loan Modification Companies

Amazingly enough, more homeowners are finding themselves in severe distress with the downturn in the U.S. economy. To further complicate things, homeowners have been preyed upon by savvy scammers who make promises and charge lofty fees for Loan Modification Services. The number of scams scattered throughout the nation has attracted the attention of the White House. Here are 3 things you can look forward to help minimize your chances of being scammed by a Fake Loan Modification Companies.

1 – Avoid paying for Loan Modification Services – In most states it is illegal to charge a homeowner for services prior to rendering the service requested. There are several resources that will allow you get a Loan Modification Services for FREE. There are several HUD approved Loan Modification Counselors spread throughout the country to assist with the Loan Modification process at no cost to the homeowner.

2 – The Government Program Look-A-Like Loan Modification Marketer - Some Loan Modification Scammers use official looking mail and names to give the appearance that they are associated or affiliated in some way with the government. Often times you may receive extremely official mail pieces and symbols with names that sound like it could be a division or department of the government. Should you consider doing business with a company that fits this profile, I encourage to inquire further. The following important questions helpful in determining the legitimacy of the outfit:

1- Do you have any affiliation the US Government?
2- Are you registered with the Secretary of State in the State your company was started?
3- Do you charge any upfront fees for your services?

If the answer is No to question #2 and #3 you may want to pass on doing business with the company in question… RUN!!!!

3 – Do Your Homework – Sometimes this point is easier said than done. It is easy to take the company’s word for it when it comes to determining track record, performance and customer service. Check with your local, state and federal resources to verify the validity of the company you are considering doing business with. You may want to cut through the chase and seek the assistance of a HUD approved Counseling Agency because they will not charge you for services rendered. For more information on how to locate an approved agency in your neck of the woods visit http://www.hud.gov/offices/hsg/sfh/hcc/fc/

Word to the Wise – The Loan Modification process has proven to be widely unsuccessful. Lenders continue not to cooperate in the majority of loan modification cases. Consider having your loan audited and checked for material violations. Experts are stating that 4 out of 5 loans originated between the years of 2002 – 2007 have material errors. It may be worth knowing if your loan is one of them.

Should you want to discuss particulars in more detail please feel free to visit the “Talk With Steph” section and I will be glad to discuss your personal particulars with you via the telephone prior to completing an application. You can also subscribe to this Blog and/or follow me on Twitter at http://www.Twitter.com/Follow_Steph to receive updates on new posts to my Blog, free tips and giveaways.

Professionally yours,

Steph Love

Facebooking Got Her Fired!

Is the economy that bad?  Do employers really need to check on employees who call in sick and track whether or not they are on Facebook, Myspace or Twitter? With a Mortgage and Real Estate Crisis at hand coupled with the Government attempting to control the job loss issues we suffer in these days and times, we’re seeing people terminated for Facebooking.  What has the world come to?

Facebooking while out sick gets women fired

Obama Administration to Crack Down on Mortgage Scams

http://www.usatoday.com/money/economy/housing/2009-04-06-mortgage-scams_N.htm?csp=34

More Foreclosure Scams

http://www.usatoday.com/money/perfi/general/2009-04-19-scams-foreclosures_N.htm?csp=34

2 More Banks are Outta Here…

2 More Banks closed.  Click Here to read the story.

Should you want to discuss particulars in more detail please feel free to visit the “Talk With Steph” section and I will be glad to discuss your personal particulars with you via the telephone. You can also subscribe to this Blog and/or follow me on Twitter at http://www.Twitter.com/Follow_Steph to recieve free tips and giveaways.  Best of luck to you my friend.

Professionally yours,

Steph