California Loan Modification with No Advance Fees
The state of California could be considered the epicenter of the mortgage crisis and as such, there is no shortage of companies claiming they can save your home.
However, with so many people struggling, fraud has been a rampant concern. Homeowners have to be careful about who they choose to work with and for a long time, it hasn’t been easy to weed out the illegitimate companies. Fortunately, as California loan modification company crack downs continue and more information comes to light about the practices of predatory companies, homeowners are finding more protection.
Even so, you still have to be extremely careful and do your homework. While there are many things you can do to determine if the company you are working with is legitimate, there is one way that trumps all others.
You’ve probably heard a lot about advance fees. This is when a company charges in advance of performing any work. It’s dangerous and it opens up the possibility of fraud. Think about it. If someone says, “I can do everything you’re asking as long as you give me $1,000 right now,” aren’t you a little skeptical? Well, that’s what a lot of mitigation companies are doing. When you give your money to someone in advance of seeing any work, you’ve opened yourself up to fraud.
Now consider this scenario. You contract with a company to have them work on your loan modification. That company puts in hours and hours of work on your file and puts tangible evidence of progress in your hands. All before you are charged anything. It’s clear that this company is working for you.
Which company do you feel more comfortable with?
I hope you are choosing the second option. How many crooks have you seen that do a bunch of work, then run off with your money? What would they be running away from? Repeat business?
To be fair, there are legitimate companies charging advance fees, and some do it in a way that puts you at ease, but just know that you can get representation that puts a premium on the work it does rather than the money you pay.