Upside Down Mortgage

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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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Free Loss Mitigation Training

Countrywide loan modifications are not impossible to get anymore. After the merger with Bank of America, Countrywide was forced to change their criteria and open up their doors to more modifications. And after the new government modification plan under Obama, Countrywide has become one of the easier lenders to acquire a modification from. But just because countrywide loan modifications have become easier to receive does not mean they are a walk in the park.

Before you do anything else, ensure that you are clear on their modification requirements. A quick call to the loss mitigation department can clear up any misunderstandings you may have and for you to get a good idea of what they're looking for in a applicant.

You can also call the loss mitigation department to find out what kind of programs countrywide loan modifications can come in. Finding out the requirements and programs they offer is an important part of being approved and can change the way you handle the modification altogether.

Next, decide how you would like to approach Countrywide about a modification. You can either approach them directly or go through a loan modification attorney or specialist.

Only take the task on yourself if you are skilled in negotiating, know how to fill out the forms the way they would like, and are sure you fit into the requirements. The majority of people who apply on their own do not succeed because they make some sort of mistake on the application forms or on the hardship letter they are to send in with the application.

There are two choices for outside assistance: Attorneys or workers through the FHA. Both are trained to assist homeowners to get loan modifications, but the help from the FHA is free. While almost anyone would choose the free alternative to a paid service, it's worth noting that in most cases there are waiting periods to get assistance from these professionals. A specialized attorney or company would not have this wait.

The hardship letter is a critical factor in getting countrywide loan modifications. Some homeowners do entirely forget the letter, which is means for instant disqualification. The letter cannot be too drawn out or whiny, but must be very convincing for your case of financial hardship. If you decide to work through a professional service, they will assist you in writing the letter.

Getting countrywide loan modifications takes the same amount of time and effort as any other lender. And if you choose to go about it yourself but are denied, consider a consultation from a professional to see if you fit into the requirements, and if so have them work on it with you.
About the Author:

For additional information and useful resources for home loan modifications, visit the #1 loans modification spot on the net: http://HomeLoanModifications101.com

Article Source: ArticlesBase.com - Countrywide Loan Modifications - Easier Than Ever

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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