HOMEOWNERS, Don't be taken advantage of!
We hear so much about mortgage modifications for homeowners who are having trouble keeping up with their mortgage payments. There are many scams out there and you really have to be careful! There are companies out there who will take your money, even if you are not qualified for a loan modification, and will tell you that they will apply for it for you. That's just what you need now, right, to be taken advantage of?
Please beware of companies out there now that are soliciting homeowners for mortgage modifications and asking for a large fee upfront. You do not have to pay someone to get a mortgage modification. The best thing to do is to contact your lender. They will need to know your current financial information, your current income, and your hardship. In other words, they need to know WHY you can not keep up with your mortgage now.
To find out if you are eligible for a refinance, loan modification and information on loan modification SCAMS to watch out for, visit:
Making Home Afordable or call 888-999-HOPE, if it is urgent that you speak with someone right away. No matter what you find out here, it is also a very good idea to still contact your mortgage company directly and see if they will work something out for you.
Some of the loan modifications are being approved, but it is not easy to get done. You must find out what information your mortgage company needs from you, get it them ASAP, AND diligently follow up with them. This little video from CDPE, Certified Distressed Property Experts of which I am proudly a member, shows you where you can get some help and to see if you qualify for a mortgage modification. Another important thing to know is that you have to be able to show that you can afford the new mortgage. A modification would be very tough to get if you do not currently have income or resources to pay the new amount.
If you are unsuccessful in obtaining a loan modification, don't let your home go into foreclosure. Call me and let's explore the option of a short sale as an alternative to foreclosure. Of course I will not charge you for the consultation, I am here to help.
My Direct Number at the Office is 847.516.6760
If I can be of assistance to you, please do not hesitate to call or email me. It will be my pleasure! By the way, if you know of someone that could benefit from my high level of service, please call or email me with their name and daytime phone number and I will make sure to follow up and take great care of them. My business keeps growing from your referrals.
There are fabulous buys on the market....now is a GREAT time to buy real estate in IL, especially for MOVE UP Buyers, Waterfront Buyers, Vacation and Second Home Buyers, Investors and First Time Buyers!
To Search Homes For Sale, Please Contact Me Directly Or Feel Free To Search On My Website!
To Search Homes For Sale, Please Contact Me Directly Or Feel Free To Search On My Website!
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It is an EXCELLENT TIME TO BUY NOW, especially for first time buyers, second home buyers, investors and move up buyers.
REAL ESTATE IN IL IS ON SALE! :-)
I hope you find this information useful. I am only a phone call or email away of you need real estate help:-)
If I can be of assistance to you, please do not hesitate to call or email me. It will be my pleasure!
By the way, if you know of someone that could benefit from my high level of service, please call or email
me with their name and daytime phone number and I will make sure to follow up and
take great care of them.
The majority of my business is referral and repeat clients. I am so grateful it keeps growing from your loyalty and referrals:-)
I appreciate YOU and your referrals!
I can be reached at my direct number at the office: 847.516.6760. I look forward to hearing from you!
Information deemed accurate and reliable but not guaranteed. Source MRED MLS.Disclaimer: Information herein may come from various sources, some of which may not be reliable and may change without any notice. Debra Kukulski does not guarantee or is any way responsible for the accuracy of the information in this blog and information provided is without warranties of any kind, either express or implied. Information on this blog represents the opinions and ideas of the author; comments by others may not express the views of the author. All photos and content may not be duplicated without express written consent of author.
Copyright © 2010 By Debra Kukulski, all rights reserved.
It's unfortunate that government programs have been so slow in helping people keep their homes.
Debra, Thanks for the heads up. A real eye opener!
The way I see it,
Paul
Brian, the banks play a huge part in this by no having an efficient system to move these distressed sales off the books and/or offer loan modifications that can actually be done in time to save a homeowner from foreclosure. Brian, thanks so much for stopping by:-)
I would suggest that the potential loan modification candidate check their state's DRE website for the Cease and Desist list. California's list has quite a few loan modification companies on them. California also lists companies and individuals that are qualified and approved to collect up-front fees. By the end of the year, California is trying to stop the collection of all up-front fees. That will practically shut down the entire industry in our state. Legistlators are trying to push the not-for-profit and government run loan modification programs, but to date they have been wildly ineffective.
Most loan mod companies that are successful and legit have been in business for a while. It's the start-up that you have to be weary of. Enough complaints and non-legit companies get shut down fast.
Hi Julie...thanks for your comment. Homeowners in this situation are so vulnerable. They can also look up the information on Making Home Afordable.
Paul, thanks so much for your comment...there are so many things that are eye openers in this market! The more we can do to help homeowners in distress, the better off everyone is.