Loan modification laws
It is tough to sit here and talk about general loan modification laws, because each individual state is different to tell you the truth.
What is acceptable in South Carolina might not be acceptable in Wisconsin or vica-versa.
The main differences between states is the amount of regulation that goes on. Regulation can be a good thing and a bad thing at the same time.
Sometimes regulating who can work in a loan modification dealing and what type of loans can be modified can stop common loan modification scams and heartbreak from occuring.
Other times, loan modification laws that are very regulated can cause there to be excess hassle in the process and the regulation can just get in the way of the dealing in general.
The best way to find out loan modification laws in your area is to talk to someone in the financial field that have had experience with loan modifications in the past. It might not be cheap, but the guidance your partner will give you should be worth it in the end.