Jumat, 12 Februari 2010

Beware of Loan Modification Scams

Beware of Loan Modification Scams

Loan Modification Scams are very much prevalent in the cities of United States like Stockton, Modesto and Merced where the foreclosure rate is extremely high. You will find lots of mortgage reduction schemes aggressively marketed in these cities and everywhere else in the USA where the foreclosure rate is extremely high.

Most of these scams ask homeowners for an upfront fee in order to start a loan modification program. At best, the homeowners may end up paying for work that is completed by the group asking for the money, however, it's work that likely could have been done for free through other non-profit organizations or loan-modification assistance programs (i.e. Community Housing Council, a non-profit based in Fresno). At worst, the homeowners pay for work that isn't done at all.

in Modesto, "some homeowners attended a workshop in which they were asked to pay $3,500 for getting their mortgage woes resolved.”

According to me, The Best way to protect yourself from such kind of scams which ask for you literally thousands of dollars of fees, let me give you the Honest & Simple solution of protection yourself against such kind of scams.

My Suggestion is – Go for Do it yourself Loan Modification

Yes, This is the only solution of this problem. Simply do a loan modification by yourself. Now you will ask me that how to do a loan modification by yourself? Well, it is simple. Download 60-Minute Loan Modification Workbook by Mike Rockwood and follow his step by step guide.

60-Minute Loan Modification is the ultimate information rich guide that will take you through the step by step process of the loan modification. Just Beware of the Loan Modification Scams. Rather than that follow the strategies in the 60-minute Loan Modification workbook and get approved yourself for the loan modification process.

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