No guarantees from Loan Modification Companies? - Loan Modification Forum

Unit6 · 03-12-2009, 12:36 PM

I have been dealing with my lender for the last 6 months with no success! I think I need to find a service that will help me, but when I call around, they all want 3-6k and that doesn't guarantee me anything??? Are their any companies other than NON-PROFIT that offer a full refund if unsucessful? Thanks and sory for the rant!

Moe Bedard · 03-12-2009, 01:59 PM

Offering a guarantee is not realistic.................because a modification is up to the investor that holds your loan...............there isn't a company out there that would be able to guarantee you results.

Here on this forum we do work with the non profits such as NACA..........
what do you have against their free services...........have you tried going through them? Is this the the only property that you own?

or you can ask the attorney on the home page of the forum
http://www.loansafe.org/safe-loan-modification-service

Unit6 · 03-13-2009, 10:44 AM

Alot of the non-profit companies are great but they are just backed up! As for the guarantee, a company can guarantee a result or your money back. With all the scams out there, paying someone 3-4k with no results and losing that 3-4k only worsens the situation. I was referring to a money back guarantee?

kat10 · 03-15-2009, 12:26 PM

What kind of guarantee are you looking for? No company out there can give a guarantee of a loan mod and what terms will be given. Yes, you should have right of 3 day right of recession with full money back guarantee. Some will return a percentage if a workout is not offered. Remember if a workout is offered is not a guarantee it will be an offer YOU LIKE, but you got a workout and they won't return any funds. A year ago, banks were not working with homeowners so it was advised to have a company do it for you, today the climate has changed and I wonder if it really is necessary to have a company do it for you. If you do it yourself, be sure and keep strict notes and follow up follow up follow up. Also, STAY AWAY FROM HOPE NOW. They are a nightmare and useless. Good luck

03-12-2009, 12:36 PM	#1 (permalink)
Unit6 Junior Member Join Date: Mar 2009 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	No guarantees from Loan Modification Companies? I have been dealing with my lender for the last 6 months with no success! I think I need to find a service that will help me, but when I call around, they all want 3-6k and that doesn't guarantee me anything??? Are their any companies other than NON-PROFIT that offer a full refund if unsucessful? Thanks and sory for the rant!

03-12-2009, 01:59 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: No guarantees from Loan Modification Companies? Offering a guarantee is not realistic.................because a modification is up to the investor that holds your loan...............there isn't a company out there that would be able to guarantee you results. Here on this forum we do work with the non profits such as NACA.......... what do you have against their free services...........have you tried going through them? Is this the the only property that you own? or you can ask the attorney on the home page of the forum http://www.loansafe.org/safe-loan-modification-service __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

03-13-2009, 10:44 AM	#3 (permalink)
Unit6 Junior Member Join Date: Mar 2009 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: No guarantees from Loan Modification Companies? Alot of the non-profit companies are great but they are just backed up! As for the guarantee, a company can guarantee a result or your money back. With all the scams out there, paying someone 3-4k with no results and losing that 3-4k only worsens the situation. I was referring to a money back guarantee?

03-15-2009, 12:26 PM	#4 (permalink)
kat10 Senior Member Join Date: Feb 2009 Posts: 119 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: No guarantees from Loan Modification Companies? What kind of guarantee are you looking for? No company out there can give a guarantee of a loan mod and what terms will be given. Yes, you should have right of 3 day right of recession with full money back guarantee. Some will return a percentage if a workout is not offered. Remember if a workout is offered is not a guarantee it will be an offer YOU LIKE, but you got a workout and they won't return any funds. A year ago, banks were not working with homeowners so it was advised to have a company do it for you, today the climate has changed and I wonder if it really is necessary to have a company do it for you. If you do it yourself, be sure and keep strict notes and follow up follow up follow up. Also, STAY AWAY FROM HOPE NOW. They are a nightmare and useless. Good luck

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