almathor
Oct 26, 2008, 10:28 AM
Help,
I am two months behind on my mortgage and have been sent a default notice. I have talked to my mortgage holder and the only thing they can do is divide the months I am behind over a period. This means my payment per month is even higher. I have called the HOPE number for homeowners but have not received a return call yet. I then tried going under the hud home counseling web sites. I was directed to several counseling companies and 3 called me back. Here is my real question?? Are these companies for real? Can they really negotiate with my mortgage lender for a loan modification? These companies say they deal with banks and mortgage companies and have a 90% success rate in loan modification. I asked how it all works and they tell me that after signing to get them to help me my loan is in a "freeze" state. I don't have to pay on the loan but I do have to pay them a fee, which varied from 1300 to 2300 for their services. Please help with any information you can give.
Thanks...
I am two months behind on my mortgage and have been sent a default notice. I have talked to my mortgage holder and the only thing they can do is divide the months I am behind over a period. This means my payment per month is even higher. I have called the HOPE number for homeowners but have not received a return call yet. I then tried going under the hud home counseling web sites. I was directed to several counseling companies and 3 called me back. Here is my real question?? Are these companies for real? Can they really negotiate with my mortgage lender for a loan modification? These companies say they deal with banks and mortgage companies and have a 90% success rate in loan modification. I asked how it all works and they tell me that after signing to get them to help me my loan is in a "freeze" state. I don't have to pay on the loan but I do have to pay them a fee, which varied from 1300 to 2300 for their services. Please help with any information you can give.
Thanks...