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Can you believe this? AND they say they want to help people, I thought the presidents plan was to LOWER the payments help people keep their homes, IT SEEMS AMERICAN HOME MORTGAGE WANTS TO FORECLOSE . American Home Mortgage advised NOT to use a Loan Modification COmpany so the HOME OWNER took their advice and wound up Screwed, the mortgagte compay RAISED THE MORTGAGE PAYMENT ALMOST $600, whats the point in a loan modification for someone having problems making the payment when it was $600 less ? IT SOUNDS LIKE THE BANKS WANTING TO MAKE THE MARKET EVEN WORSE. HOME value $105,000 LOAN BAL $325,000 foreclosure brings value down or KEEPING HOME and lowering payment prevents foreclosure, SO NEXT HOME will comp even lower in the neghborhood, SO NO WONDER banks are going out of business. I just cant beleive the horror stories IM hearing every day. THE BANK LOSES MORE B Y foreclosure, what can be done in situation like this when its probably to late?
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Yeah I agree with you above. Make sure you go to a company that is reputible. I personally like the law firms that offer the refund guarantee and do not ask for up front payment to see if you would even qualify. There is only a few that do that but I have heard great things from a few of them. I wish the best of luck to you.
Yes this is a horrible story. I would reccomend taking an action right away and going to a firm right away. Actually out firm will get you approved first and does have the garauntee. If the customer has not yet been given a foreclosure date it would be smart to give your case to a company ASAP.
"The reason why loan modification companies exist is because banks simply are not honest in their dealings with the consumer. Luckily, many lawyers and companies like mine are finding ways to make sure the consumer doesn't end up screwed by the bank."Please....They exists to take advantage of desperate people and to generate income for themselves...How many loan Mod experts are former loan officers that specialized in Toxic Mortgages.....
I have been in this business for more than 16 years, I have seen the toxic mortgages come and thankfully go for the 2nd time in my career. I can sleep at night because I make sure every one of my clients knows exactly what type of loan they are getting or have gotten.Mortgages by the way are not toxic and almost every product that was avaialable was good for someone. The problem was/is every tom dick and harry saw an opportunity to make quick cash so they jumped into the business and could care less about the consumer or the industry! Kind of like the loan mod industry Today!
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