Scary
Did you know that most of the parties providing loan modification services are these very same dishonest loan brokers that scammed homeowners in the first place? Now that they can't scam borrowers into their nasty loans, they've turned to modifying the nasty loans they wrote and talked you into in the first place.
Is it fair that these criminals should benefit twice? If they couldn't be trusted to provide you with an honest loan, can you trust that they have your best interest at heart for your loan modification?
They don't!!
Don't let them get you twice!!
By now you've probably heard the horror stories about loan modifications. More than half of the loan modifications already negotiated have failed in less than 6 months.
How about all of the people desperate to save their home that contracted and paid for services only to find that they'd been hung out to dry again. The so called loan modification/loan specialist had taken off with their money and no resolution. Now, they find themselves having to hire someone else at additional cost to their family or face losing their home.
They aren't looking out for you
If you do find a service that does modify your loan, and don't get us wrong, there are many out there that do, however, you can be sure that they are not looking out for you.
Did you know that most loan modifiers take the first offer back from the bank so that they can wrap up your file and move on to their next victim.
It doesn't take much to realize that the first offer back from the bank isn't going to be in your best interest.