Looking for help and advice when it comes to applying for a loan modification is something you should be very careful of. There are companies out there who will tell you all sorts of things in order to get your business, and it is these scammers that you must stay away from. For example if you are told by a company that they can guarantee to stop your foreclosure then this is not true. Unfortunately, there is no one who can guarantee this for you.
You may be offered a money back guarantee to make you feel comfortable parting with your money, but again why would this offer be made when applying for a modification loan is free. The only loan modification companies that you should trust, are the ones who tell you that they can only try their best to help you when going through the modification process.
Stop Paying Your Mortgage
Now if a mortgage modification company, tells you to stop paying your mortgage then this is a sure sign that this modification company is not legitimate. The first rule of any loan modification agreement is that you should never stop paying your mortgage, and a reputable loan modification company will never tell you this. This also applies to keeping up with your repayments, even if you are that far behind with your payments, the only place you should be sending your payments to is your lender.
Never allow anyone to push you into making any decisions that could harm your chances of keeping your home, and any legitimate loan modification company will never put you in a position where losing your home could happen.
Avoid Foreclosure and get a loan modification with lower payments.
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