A man Marketed himself to a group of people at a church as a Loan Modification Expert who can STOP their Foreclosure woes. Sounds Good so far right? He must be really smart to be an Expert. Right?
NOT - He scammed one of the Church goers. He told her to give him a Lump Some of money and he would work on her Loan Modification and Totally Stop Her Foreclosure Proceedings. She handed over ALL of her savings and he disappeared. He has not been seen or heard from since. In the local news report they showed this very nice lady packing up the cupboards in her kitchen. That was the killer for me.
Caveat Emptor (let the buyer beware)
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Research ANYONE who presents them self as an EXPERT! for Real Estate Licensees visit - myfloridalicense.com this site is the Department of Professional Regulations site and you can check on ANY LICENSED PROFESSIONAL IN FLORIDA. Contractors, cosmetologists, Realtors, Appraisers etc.....
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Loan Modifications Need to be done BEFORE COURT FORECLOSURE once legal action is initiated, you have little chance of getting the Lender to Modify or adjust your current Loan
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DO NOT PAY ANYONE UPFRONT for a Loan Mod. Legitimate Loan modifications DO NOT work that way. Research your options.
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Consult a Professional. Call a Realtor or Mortgage broker in your area and ask for information about getting a loan Modification. IF YOU GET ONE and it works, I'd love to hear about it. (call me)
In Florida and many other states you have Equity of Redemptionthis is your right to prevent foreclosure by paying principle and interest due along with any expenses the Mortgagee (BANK) has incurred in attempting to collect the debt and initiating foreclosures proceedings. ENGLISH VERSION- pay what you owe plus any fees the bank paid to the court and others to settle the debt.
Bottom LINE - Consult a Professional.....Do NOT Go This Alone! You don't need to. I wish eveyone facing these issues the very best for a quick resolution to their mortgage issues and a Happy and Healthy Future
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