Upside Down Mortgage

Posts Tagged ‘_loan_modfication’

Loss Mitigation Companies

Question: Does anyone know is Loss Mitigation Solutions in Phoenix AZ a real modification company?

I have a home in Indiana in foreclosure. I received a call from this company Loss Mitigation Solutions in Phoenix. They seem very professional and work for an attorney I believe but the proposal they put together seems too good to be true. You know the ole saying and there are so many dishonest people out there especially doing this loan mod thing. Please please can I get some feedback??!!

Answer: check with bbb in that state
check with the attorney general in that state
type in yahoo, the name of the company and the word lawsuit(s)

generally, these companies are not beneficial. You can negotiate on your own. doing things dishonest, like not making a payment for 4 or 6 months to get a deal, it just not right. Your call though, you sleep with you every night.

LOSS MITIGATION COMPANIES ( DO IT YOURSELF )

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Loss Mitigation Attorney

Question: Small claims court or prosecutor?

Long story short, I filed a complaint with the BBB of Chicago about a "loss mitigation" company that defrauded me out of $1500. The complaint went unanswered and the BBB recommended I should contact Cook Co. small claims.

The question I have is a two-part one. First, I live in another state and travelling to IL to pursue this is going to be difficult at best. Can I file this claim in my own county's small claims court, seeing that I was a resident here when I contracted with the Chicago company? And secondly, should I first pursue this through either the IL or OH (my home state) attorney general's office instead? I believe what this company did was knowingly and willfully criminal in defrauding me.

I need some info on the next step in this process and any help would be greatly appreciated!

Answer: You may not have to go to another state to file your complaint. It depends, and it takes some real lawyer work here but if that company does enough business in your area (some other requirements need to be met) then your state may have jurisdiction over them.

Even if you do file a civil complaint, you should still contact their state's attorney general. You can do both. A criminal prosecution doesn't effect your civil law suit.

Good Luck

Mortgage Loss Mitigation - Mortgage Loss Mitigation

Loan Modification Types

Question: What type of lawyer and where can I find one to use for help with my loan modification?

I have a modification offer and it is not good at all. I am at my wits end and feel that I need more help. What type of lawyer and what tips can you recommend for me. Also what source do I use to find one?

Answer: If you must use one of these loan mod companies or lawyers, do NOT give them an up front fee. Do NOT believe them when they say they can get you a modification guaranteed. Chances are, if you hire a company or lawyer, they are going to come back and have the same offer you got yourself! You will be out thousands of dollars (most are charging $2500 and up for their services) and that money could have been well spent on your mortgage!

Go to these forums and get some advice and tips from others who have been working on loan modifications themselves:

http://www.loansafe.org/forum

Loan Modification Software: Video SX3 Types of Loan