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Loan Modification Con Artists Days Are Numbered Florida CompanyHelps...



As foreclosure rates soar, millions of Americans are looking for solutions to help prevent losing their homes. According to HUD (Housing and Urban Development) officials more than 40,000 loan modifications are being completed each week. Unfortunately there are many Americans who are being taken advantage of. Many consumers are unaware that they do not need to, nor should they hire a company to obtain a mortgage loan modification.



Debt Consolidation (http://www.debtconsolidationconnection.com) Connection is a non-profit consumer credit counseling agency and consumer advocate who helps individuals find ways to manage their debt problems. Their motto on loan modification is if you have to pay, walk away The agency has developed a free step-by-step loan modification manual and video that answers FAQ'ss and shows how to file for a loan modification directly with lenders with no costs or charges. Below you'sll find some of the most common tactics used by unscrupulous loan modification companies.



Beware of the Following:


>    Upfront fees: The company or agent who promises to help with the loan modification charges an upfront fee before any work takes place. Most states prohibit upfront or advance fees. If the agent asks for payment upfront, walk away.


>    Making payments to someone other than the mortgage company: Be wary of companies that ask you to make your mortgage payments to them. Always send payments to your mortgage company directly. Previous victims of this tactic learn their agent has kept their mortgage payments and run off with their clients's cash.


>    Signing your property over to the company: Scammers often suggest signing over unsuspecting clients's homes to their firm, with the promise that the client can rent the home and have an option to purchase the property back in the future. All too often, the agents often never make good on their part of the deal and keep the home.


When it comes to loan modifications, the best advice is for homeowners to deal directly with their mortgage company. Most mortgage companies do not charge a fee.



Most mortgage holders find that the process of loan modification is one they can do themselves. Go to www.DebtConsolidationConnection.com for a free do-it-yourself guide and additional loan modification and debt consolidation loan (http://www.debtconsolidationloan.net) resources. Debt Consolidation Connection is a non-profit consumer advocacy agency located in Delray Beach, Florida.






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