Abuse of correction of wide spread loans - Do not become a victim


Many people face foreclosure today and thousands of loan remodeling companies provide a financial lifeline. Unfortunately, in many cases, a large amount of prepayment fee is required, not necessarily being educated in the industry that actually helps, wasting valuable time and effort, many companies (about 75 %) May be suffering from a business that scams people. As Illinois State Attorney General Lisa Madigan says, "If you are struggling to pay mortgage payments or face foreclosure, say that you will rescue money and save the house Please keep away from those who are.

Loss mitigation expert C. Thompson Sr (Nature wide Assistance, Clermont, FLA) has confirmed some prominent signs of fraud by these companies.

  • Claim a huge initial fee - The purpose of the fee is to contact the lender to seek change of the lender. However, if rejected, only half of the charge will be returned. In such a case, a refund guarantee is necessary.
  • I will not explain the purpose of loan assistance. I need to explain all the services and answer all the questions.
  • I am not interested in your situation - You may not have your greatest interest in your heart.
  • Do not stop foreclosure procedures during negotiation .
  • Accept the first suggestion from lender who does not fit your situation .
  • Virtual company The actual office may not be a real company ...
  • Too reality is too good - I will promise a wonderful interest rate or accurate savings without consulting the lender. I can not promise without losing to the lender.
  • No approval process - The approval process must be the first step in the change process before the fee is paid. This process should not include credit qualifications and should not be approved on the first phone.
  • Not a member of a better business bureau . They are not industry leaders.

Fortunately, you can avoid these scams. If you need assistance on your urgent mortgage problem, there are other ways to pursue. Consider a nonprofit organization that supports you without requesting a fee, or a real estate licensee and lawyer who will allow you to pay after your work is completed. You can also receive free advice and consultation on refinancing, loan changing and foreclosure needs through several government agencies including Hope Now and FHA.

The information above applies to refinance of housing and misuse of loan change. However, if you are seriously considering improving the finance generally, the area to find more.


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