Stop Foreclosure

For The American Homeowner

Don’t Pay Thousands For A Loan Modification

You can stop foreclosure with loan modification. I think most of us know this by now.

But how does one restructure their mortgage? How are homeowners suppose to lower their mortgage payment with a loan modification.

Should a homeowner hire a third party to modify their home loan?

There has been a remarkable number of homeowners who have been ripped off by so-called loan modification companies. These for profit outfits have sprouted up every where. They charge homeowners 1500-7000 dollars for results that any monkey pushing buttons can achieve.

It is extremely hard for homeowners or anybody for that matter to tell which modification services are legitimate and which are bogus. This can present a real headache. Where are Homeowners suppose to turn for help obtaining a loan modification?

It is likely that  some of the small attorney offices locally are a good place to check but don’t just head down to the first one you see. It would be wise to only check with the ones you have heard first hand does good work. Another downside to this route is the cost. These guys are generally the ones charging between 5000-7000 dollars. They are used to making that kind of money and they have invested in the education needed to be a lawyer.

Now having said that if your situation is one in which you hold a mortgage of 750 to 800 thousand or more than you may want to hire a local attorney to work on the modification for you but you need to be sure that you are talking to the actual attorney and you should expect to pay at least 5,000 and most likely more.

However this is not a likely scenario most of us have a much smaller mortgage. The best thing to do first is to check in with a local housing counselor.

There is a great article on the Home Affordable Modification Program called Choose Affordable Mortgage Modification which highlights the benefits or reasons that homeowners should initially focus their efforts towards the Obama loan modification program which offers homeowner a streamlined mortgage solution through modification.

March 26, 2011 - Posted by | finance


  1. Hi,

    My name is George Alford and I am the mentor of some good financial communities & regularly write articles based on finance for good quality finance sites & blogs.
    I came across your website and found it very informative and helpful. I would like to send you an article as a guest post (relevant to your site).

    It will be my pleasure if I can contribute some quality content. Please kindly let me know how and where should I send you the article. You can reach me at: george.alford999@gmail[.]com

    Waiting for your quick response.

    Comment by George Alford | September 26, 2011 | Reply

  2. Thanks for the neat info.

    Comment by predatorys22 | January 6, 2012 | Reply

  3. I was lucky enough to find a reputable company with proven results to postpone my foreclosure sale. They even helped me negotiate with my lender to reduce my loan amount and get me affordable payments so I could keep my house.
    I think these blogs are very important to help educate the American people on their options. The problem is that banks expect us to be ignorant on our rights, so I completely recommend this company(IDS national) to contact your lender on your behalf. Their lawyers know what their doing and get results for you. Even better,they dont charge expensive rates like everyone else.
    For those that need help, here is the email to CR who helped me keep my home. Email- bankfraudeducator at
    Good luck

    Comment by Sara K. | January 26, 2012 | Reply

  4. Hello,

    I wanted to drop you a line and compliment you on your website and blog. Nice layout, good tips, and an overall great resource on dealing with foreclosure.

    I currently work for a loan modification service provider and we are interested in advertising on your site because we think it would be a great fit for us.

    Please let me know if this is possible.

    Thank you for your time. I look forward to hearing from you.

    Comment by Babette Smith | March 8, 2012 | Reply

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