How To Avoid Loan Modification Scams... Is Loan Modification a scam or legit? I have been asked this question numerous times.
Unfortunately, there ARE a lot of companies who are in this new business to scam people, and some aren't educated enough to know that they are hurting people instead of helping.
This is what I found during my research:
Tell tale signs of a Loss Mitigation Scam:
• Charges a huge upfront fee : There are some Loan Modification companies who will charge sometimes up to $7500 to contact your lender and ask for a loan mod, and in some cases, when turned down, they will keep 1/2 your money and return the rest, bKeywords:
Marc Tow, loan modification, bankruptcy, chapter, chapter
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