Share post
Share
Debt Consolidation Forums Getting a loan or mortgage and avoid foreclosure forums

upfront fees

Date: Mon, 02/21/2011 03:47
member profile picture

I have defaulted on my mortgage. The total loan amount is nearly $75,000. So far, I have made the payments on time. My credit is also good. However, I can't afford to make the payments anymore. This is why I approached a mortgage modification firm last week. But that company is charging a huge advance fee. I can't afford to pay this fee. What should I do now?




It is always better to contact your lender and apply for a loan modification rather than taking help of a third party loan modification company. Your lender won't be able to charge you any upfront fees. You should contact your lender and inform him about your financial situation and request him to consider your request for loan modification. You can write a hardship letter to the lender for the same.

Sub: #1 posted on Tue, 02/22/2011 - 01:49

Anna Sweeting Anna Sweeting

(Posts: 1827 | Credits: )

anybody that charges upfront for this is a scam.as anna advised go through your mortgage provider for a modification.

Sub: #2 posted on Tue, 02/22/2011 - 05:30

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15514 | Credits: )


DebtConsolidationCare (IAPDA member)
BBB (A+) logo for DebtCC
Connect With Us
About Us | Contact Us | Privacy Policy
Copyright © 2020 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 0.610 seconds.