Loan Modification Scams

Over the past year or so there has been a huge increase in the number of businesses offering loan modification services, a field that previously was not known by many. So because of this a large increase of complaints to the Federal Trade Commission (FTC),  Attorney General (AG) and the Department of Real Estate (DRE) have also taken place. Resulting in many of these scam companies being sued and subsequently shut down.
 
Homeowners who are behind on their payments will often get contacted by a company who claims they offer special loan modification services. Beware of this, if your home is in the foreclosure stage it is posted in public records (like the newspaper) and that is probably how these companies found you.
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Loan Modification Q & A’s With Paul Molinaro

 

 

 

 

 

 

Manita Dadil :

How do you know if a company is legit?

Paul Molinaro Esq.

We fully understand the dire financial situation our clients face. EVERY one of our loan resolution or Bankruptcy clients is having money problems (or they would not need us). Thus, we have made our pricing affordable to people with very limited funds.

That said, we need to make sure we are paid, and we do not want to be just one more creditor of the many seeking to collect from our clients. We ask for full payment up front.

As to guarantees.

Lawyers do not guaranty the outcomes of their cases or matters. We are lawyers and zealously represent our clients. That is how we earn our fee… through the actual work we do. Read more