Thread: Can Homeowners Trust Short Sale and Loan Modification Companies?

In this day and age a large number of homeowners are defaulting on mortgage payments. It brings additional stress and heartache to homeowners when having to fight loan modification and short sale companies, who promise fixed loans, yet are unable to deliver. The New York Times has pointed out one of these companies called Federal Loan Modification Center (FedMod).

I think homeowners can trust short sale and load modifications but beware of any that require any up front cost. If your interested in a short sale in CA, let me know. I work for an investment company that helps homeowners with short sales and they do it for free. Our companies does all the negotiating with the lenders.

Good question, for short sales I recommend using an experienced short sale agent who is local where as many of the short sale companies are not.

For loan modifications, I believe one doesn't need to pay any 3rd party company to execute a loan mod with all the new government programs coming around

In my experience Short Sale companies are a total joke!

If they are making money doing concurrent closings, stay away. They only win if they can bring the bank to the brink of foreclosure and nearly force them into the deal. If they can't get the bank to be amenable, they just walk--leaving the seller with a foreclosure and tons of bad marks on their credit.

Like so many people right now, me and my husband where about to lose our home but we went through a company to lower our mortgage payment, they also helped with our finances (debt consolidation). I will give you the company that we used, very reputable and i have a good friend who is going through the same process. Hope this helps

Just make sure you checkout the BBB, get the attorneys name as a lender won't even take a "Negotiator" serious that's not backed by an attorney firm.

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