Posted on: 14th Feb, 2010 10:36 am
We have found a loan modification online and we are approved, we have not said anything to our bank or asked them to help us. We did ask for refinacnce but they said not without husband working........We are not behind but our payments are so big it's getting harder and harder to pay and my husband has been out of work for over a year now. Question is do we tell or ask the bank first or go with someone we found online......... The loan mod lawyer said "NO" we would shoot ourselves in the foot? ANy truth to this? We're afraid to just dole out money and if it won't work to our advantage. ANy suggestions?
Hi bhochstatter,
I personally believe that it's a better option to negotiate with your lender yourself in order to get a loan modification. I hope you've researched about the online modification servicing company and then asked them to handle your case. Many a times it has been found that these companies scam people. The modification company will have to contact your lender in order to negotiate for the terms and conditions on your behalf. You may verbally let your lender know that you've opted for their services.
Thanks
I personally believe that it's a better option to negotiate with your lender yourself in order to get a loan modification. I hope you've researched about the online modification servicing company and then asked them to handle your case. Many a times it has been found that these companies scam people. The modification company will have to contact your lender in order to negotiate for the terms and conditions on your behalf. You may verbally let your lender know that you've opted for their services.
Thanks