I have not heard of a single legitimate loan modification company. Not one.
You should just deal with your company yourself. I started my second one for a relative last week, the bank was calling me within 72 hours of me mailing my stuff off to them. I expect we will have a deal within 2 weeks of starting.
You will never hear from that other company. Kiss your money good-bye and call your lender, ask for their modification package.
If you are looking to modify your principle (what I am doing) you may as well get the property appraised now and send that along.I would like to know about getting a Loan Modification with a company out of state or deal with my mortgage co?
A couple points:
1. Call the Miami company and demand a refund. If they refuse report them to the FL State Atty. General office and the BBB. If you paid by a credit card you can do a ';charge back';. Your credit card co. will explain how to do it.
2. There are legitimate loan mod companies but the best bet is to use an attorney. They will charge you a one-time flat fee and get it done the right way.
3. It is NOT TRUE that CA loan mod companies can't accept an upfront fee. This only applies if you have received a Notice of Default (NOD). If you have received a NOD, then only an attorney can accept an upfront fee.
4. Don't try to do a loan mod yourself and don't waste money on self-help ebooks on the Internet. Most are junk
Good luck...
First of all did you check their qualifications and references?
My next question is what state are you in? In California modification companies can not taking any money upfront unless they have an approved ';Advance Fee Contract'; registered with the Department of Real Estate. Next, there is a Great video out on how to Modify your home loan on your own with a FREE hour of consulting. There is also a government help group called Hope Now, but they give absolutely no hope at all! The website I have seen with the free consult can be found on youtube with many other videos on modification. The best ones are the ones where they teach you how to help yourself! Watch out for attorneys to, they charge the most and can only do the exact same thing a mod company or even yourself can do! Call your lender direct, but first educate yourself on what to say!
I am sorry that you got taken advantage of. There are many companies out there preying on people who are desperate. We are a legal loan modification company and I could offer you several references of VERY happy people.
Was you loan an Option ARM payment with WAMU/Chase? If so, that could be why it is taking so long. The vice president of the company still doesn't know how the bank will handle modifying those loans.
Email me if you would like some more information.
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