How to Avoid Being Taken Advantage of With a Loan Modification

How to Avoid Being Taken Advantage of With a Loan ModificationOne of the biggest mistakes many people make when getting a loan modification, is that they fail to research the company helping them. Unfortunately, you just never know who you can trust, which is why I wrote this article.

In this article, I am going to provide you with some useful pointers to help you avoid being taken advantage of. The last thing we want to see is for anyone to lose their home. That is why it is important for you to research the company before hiring them, before giving them your personal information, before paying them, and before trusting them with saving your home from foreclosure.

The first step to avoid getting hosed is to research the company on Google. Enter the company’s name that you are considering to hire. Don’t just look at their website but look at what comes up. Do you see a five start reputation or do you see sites like Complaints and Rip Off Report. Just having this information may help shed some light on the character of the firm you are working with.

Second, type the company name and the word “Reviews” after the company name. See what kind of reviews come up. Are the reviews good or bad? Next, look up the company on the Better Business Bureau. You can simply type in BBB after the name in Google for the company report.

A listing in the BBB does not ensure the firm you are working with will be able to help you, but at least you can find out more about the company you are considering hiring. Ask yourself, is this the kind of company I want working to help me save my home? If the answer to that question is no, you probably already have your answer.

You also want to look at how long they have been in business. Are they a real law firm or a company with a name that sounds like a law group? While there are plenty of companies providing loan modifications around the country, it is good to make sure they in driving distance from your house and that you don’t have to hop on a plane to communicate with them. Insist on working with a local law firm that’s licensed by the bar association.

By taking these precautions up front, you can reduce the chances of getting taken advantage of or losing your home. It is important for you to do this research ahead of time so you do not get taken advantage of and risk losing your home. There are plenty of reputable firms providing loan modifications, but it is always good to perform your due diligence first.

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