The Loan Modification Trap

I have heard so many horror stories concerning loan modification deception tactics. Here how it works.

The pretender lender file a foreclosure lawsuit. If the homeowner fight back in court, the pretender lender will offer a loan modification. In reality, their offer is done in bad faith. They will assure the homeowner not to worry, that they will stop the foreclosure proceeding. The homeowner believes them and put his guard down. Behind the scene, they move forward with the foreclosure. Before he figures out what is happening, a summary judgment has been entered and a sale date is set.

Do not fall for it! Never trust anything they say.

Comments

[Mortgage-Mod-Monster.com]

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