Archive for August, 2009

What You Pay for When You Hire a Loan Modification Company

Many homeowners do not really understand what they are paying for then they send out a few thousand dollars to a company or law firm offering loan modifications. Too often, they believe they are paying $3,000 for a guaranteed reduction in their monthly payment, interest rate, and principal due on their loan. But the reality […]

Why There Are So Many Foreclosures And How To Stop Them With A Loan Modification

Last month there were more foreclosures then ever before, which means they are increasing not decreasing, as some might say.  Obviously homeowners want to avoid foreclosure as do the banks.  Lenders do not want foreclosures written on there books, because it runs the risk of the bank failing.  Homeowners usually do not want to lose […]