Upside Down Mortgage

Loan Modification Facts

Question: What advantage do people who do loan modification for a fee have over owners directly dealing with the bank?

I'm desperate for a loan mod but I am confused where to go. Do people who offer services for loan modification get better offers from the lender such as CHASE? If I work it out with Chase, will they offer me the SAME OPTIONS/PROGRAMS like what they would offer a guy (lawyer or not) who is willing to do it for me? Like if I do it myself, Will CHASE offer me just choices A and B and will give options A, B, C D to a loan mod negotiator on my behalf? The fact that loan mod people know all of the in and outs of the process and other legalities as compared to a simple homeowner. I got a representative who is willing to do it for me with no upfront costs. I will only pay the fee ($2500) if I accept whatever he works out with CHASE and if I do not, I don't have to pay anything. Still, money is money and money is tight right now. Any input would be greatly appreciated.

Answer: It would be amazing if you found someone who is not just conning you.

And no, there are no special programs for lawyers. It is pretty simple and straight forward.

Loan Modification Facts

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