So are all companies that say they can stop forclosure and renegotiate terms of a mortgage just BS?

Question

So are all companies that say they can stop forclosure and renegotiate terms of a mortgage just BS?

Answer 1

No but how do you know? I would suggest you call 888-995 HELP if you're experiencing some financial difficulties. This is an organization approved by HUD to help homeowners.

Answer 2

No.  It costs the mortgage companies a lot of money to foreclose on a property.  The legal costs, fix up costs, the carrying costs, then they still have to sell the property.  So it would make financial sense in many cases to modify the terms to keep you in the house AND MAKING PAYMENTS ON THE LOAN.  The last statement is the important one.

Answer 3

no, loan modification is not a BS, because lender want to keep people in their house and avoid the foreclosure- of course every situation is different, not every lender want to work with the borrowers, but if you use the company who specialize in loan modification- use the one with the attorneys who will represent you and negotiate with your lender . contact me if you need more info how this wok.