11/5/2009

I am about to use a loan Mod company called Foreclosure defense center out of Florida.
They want a 1,800.00 retainer fee for an attorney. I am skeptical. The BBB gives this company an F rating but the explanation of the low grade is unclear. Has anybody used this company. They tell me all companies that use licesensed lawyers require this fee and they would not jeopardise their license by committing fraud. I still question this. They seem in a hurry to get my money.
Can anybody help???

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11/5/2009

A lot of people think that a law firm will have better success than a non lawyer in obtaining a loan modification, but it's not necessarily true. Most of the law firms we see doing loan modifications aren't actually performing legal services in the traditional sense of the term. They fill out loan modification requests and submit them to lenders.

If you are in California don’t pay money upfront for loan modification or foreclosure rescue – it’s now illegal in CA for any company or attorney to request a fee in advance to modify a 1-4 unit dwelling. Many homeowners have been victimized by companies promising loan modification and the consequences can extend beyond losing the upfront fees.

Call a HUD-approved nonprofit housing counselor. You can speak with a certified counselor by calling 888-995-4673. They can evaluate your housing options, open lines of communication with mortgage lenders, negotiate a loan modification, and help you with household budgeting, all at no cost.

Check out the BBB of the Southland's Facebook page for more info.
http://www.facebook.com/pages/BBB-of-the-Southland/117568537756#

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