I received a call from a friend of mine the other day who is attempting to get a loan modification from his lender. At least we think it is his lender…
His original loan was with Countrywide, but the group that is calling him is not from Countrywide, but claims they hold his loan. They very well may, considering how the lending banks buy and sell the mortgages.
Long story short, this lender is offering to modify his loan for 5 years for the low, low price of only $2,000, payable after the modification is complete (allegedly). I say allegedly, as some people have posted this same group contacted them and offered to modify their mortgages and wanted to money up front. Since the actual loan modification services are not supposed to do this, I’m not sure how a lender can.
Just kinda makes the hair stand up on the back of my neck…
Then today, another article comes out on Fox News about how lenders are spurning the loan program rules and leaving their clients in the dark regarding their loans. One more example of how difficult it is to find someone you can trust these days.
If you find yourself in this position and need some help…. just ask! I work with a company that is doing a great job getting the mods through, and best of all, you don’t pay until they get an offer from your bank. If they cannot make it happen, you don’t pay. Period!
Contact me if you need more information at 219-695-0369 or scott@nwiloanguy.com.
Scott
Your Indiana mortgage expert specializing in FHA, VA, and USDA Rural Development loans.