Government loan modification
September 28th, 2009
The government is starting to play a bigger role in the economy, including loan modifications, like it or not.
Pro’s of government involvement in loan modifications:
- Reduces scammers. As we all know, there are going to be dozens of people and companies attempting to take advantage of you at one of your weakest points financially, avoiding scams is vital. Scammers would much rather have to scam one single person instead of having to deal with a person and the government taking action as well.
- Cuts out the unqualified. A lot of people are going to try to get “a piece of the pie” when it comes to your loan modification. Fee’s resulting from a loan modification can end up being between 2-5 thousand dollars, so it is obvious that many people would love to get all or a chunk of that money, it makes for a nice payday. The government is placing strict restrictions on who exactly can work on and profit from a loan modification.
Categories: Basic loan modification info