Loan Modifications must be the new scam in town, because I have been getting three to four e-mails each day, each one from a different sender, but all with the same message. They all start with the same subject line which contains my address followed by "value drop notice". The message is also the same in everyone:
Dear George:
If you are still residing in your home at "my address" and would like a lower payment, just based on your location you could bring your payment down by as much as 45% through a loan modification working with current MIDDLETOWN home values.
Late or in foreclosure, or already tried to negotiate with your lenders? We can help regardless of your circumstances to get current and keep your home, or relocate without your current home going to foreclosure.
LINK: MIDDLETOWN April Value-Based Loan Modification Proposal for "my address"
Sincerely,
"Senders Name"
MIDDLETOWN Loan Modification Consumer Savings Representative
Now how could anyone make the above statements without knowing my credit or financial situation? Are people really falling for this stuff?
There always seem to be those out there that try to take advantage of people who have fallen on hard times. Right now those who need Loan Modifications are the easy targets. I have heard of homeowners paying $4,000 and more to those offering this type of service, to later find out that nothing was done on their behalf, and they can no longer reach the people that they gave their money to.
If someone is in trouble on their mortgage they need to talk directly to their Lender, or a Lender that they know to be reputable, and not respond to e-mails such as this. This is another black eye that this Industry just does not need at this time.
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
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