1/30/2012 8:06 PM (PST)

Bruna C., Regardless of the favorable reviews from any person on this site, it is emphatically against the laws in every State, specifically CA, to charge any upfront fees to homeowners seeking mortgage restructuring under a modification application. The reason for this law is in response to the massive amount of fraud committed against homeowners either paying their last dollars to an organization that could NEVER deliver a favorable modification and due to companies providing advice to home owners to intentionally miss mortgage payments and send those funds to secure their service. In most cases, the home owners lost their homes, could not receive refunds and then ruined their credit unnecessarily which made it nearly impossible to rent a residence once they lost their homes. Keep this in mind, if you had excellent credit, sufficient equity and sought a refinance offer the only fees you would incur would be for those costs not allowed under escrow in most cases - the appraisal and the credit report. Neither the Broker nor the loan officer can be compensated until the loan documents are signed and escrow was completed. When you sign the loan documents it means you are agreeable and satisfied with your financing offer. The same is true for modification assistance. Until you sign the agreement which signifies you agree to the changes - you should NEVER pay any funds to a company acting as your advocate for that change. Don't intentionally submit yourself to become a victim of companies that are conducting their business outside the allowances of State law. Whether you are a home owner in this State (CA) or any other state - a CA company is definitively restricted from taking upfront fees for anything - loan audits, evaluations, modifications, processing fees, Deed in Lieu negotiations, lien settlements, etc. Nor should you intentionally withhold your mortgage payment when dealing with Bank of America because they have an "Imminent Default" department that can help your qualify for HAMP or any traditional modification. Additionally, clients with good credit can often apply for HARP which is a refinance program but you can not have any late payments in the most recent 12 months from your application. Yes, you should be concerned. I have worked for law firms, modification companies and Broker offices and because sick and tired of the misinformation given to home owners without true consideration of their unique position. Under Federal law, if you are given advice to withhold your payment, they must advise you in writing of the consequences in doing so including it may lead to Foreclosure and eventual sale of your property if you are declined for modification. If you would like a FREE evaluation without any obligation, please call me otherwise good luck in your continued search for assistance. I look forward to speaking with you soon! Dinece Carmichael Trabuco Canyon Realty Specialists Toll Free: 877-557-8747; has voicemail option Fa

2/4/2012 2:26 PM (PST)

thank you for all the info a lot to digest & a little late i guess i should have asked more questions earlier

2/4/2012 2:26 PM (PST)

thank you for all the info a lot to digest & a little late i guess i should have asked more questions earlier