Re: Loan Mod scammers are giving loan mods a bad name


Posted by steele in minnesota on December 28, 2008 at 14:02:19:


In Reply to: Loan Mod scammers are giving loan mods a bad name
Posted by Robert Adams on December 28, 2008 at 13:45:09:

Absolutely.

But at the same time, just because an attorney is involved does not automatically mean one is getting better service. Several of the scams are using the "we have attorneys to work on this" line as well. Was only a matter of time before someone used this in the marketing of loan mods who was less than legit.

Also having worked with attorneys for over 20 years I know from experience that like Realtors and loan officers, attorneys have a vast difference in the amount of experience and knowlege that they can bring to the table. One shouldn't be afraid to check the references and credentials of these as well. There are a lot of starving attorneys out there who are jumping into this field as well. Not bad guys, but not necessarily knowledgeable either.

One thing that many states are moving toward is contingent fees only arrangements. Only pay if successful. The attorney should be willing to stand behind their work as well.

Again, shop wisely.


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