Federal Loan Modification Company?
Has anyone had any experience with Federal Loan Modification Company? A friend said she talked to them about re-doing her loan and is going to save a couple hundred dollars a month.
I am skeptical of anyone who makes big promises. They want $1,500.00 to make the switch and told her that most people will forgo their house payment to achieve this as it takes months for foreclosure to happen. They also said they do no credit check?
Loan Modification Help
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Actually my brother just used them and I think they’re in L.A. if its the same company. From what I understand, there is no credit check because you’re not refinancing or applying for a loan. The company just modifies the terms of your current loan so personal credit isn’t a factor. He had over 3 percentage points knocked off his rate. He was really happy. His credit stunk and they still completed everything. I think it took about 2 months…
my neighbor actually told me about this company and i called them about a month ago.
they have friendly advisors that will advise you on what they can do.
i learned that i had a “predatory” loan with a high interest rate.
they were actually successful!
they contacted my lender and negotiated with them to reduce the rate and payment for me. they kept me updated throughout the process, too.
i’ve recommended some family and friends over to them too.
i have to admit, i was skeptical as well at first.
but i was proven wrong, and glad too.
For $1,500, she should just pay the lender what she agreed to.