If you are behind on your mortgage payments and are thinking of applying for a loan modification, it’s important to know what red flags to look for.

1) People who say they they used to be “underwriters” or try to promise you results may be just selling snake oil. No one can guarantee that you will receive a loan modification. Even someone who claims to have special training doesn’t know what your bank will do with your loan modification application.

2) People who want you to pay large sums of money up front are taking advantage of you, plain and simple. No agency is allowed to charge you any money up front. The only exception to this is lawyers. You should look up the name of anyone who says they are an attorney and check to make sure they are admitted to practice law and in “good standing.” And while attorneys are allowed to charge retainers up front, it’s smart to shop around before you pay thousands of dollars to an attorney who will be required to put your money in an escrow account.

3) People who leave you voicemails about being pre-approved for mortgage help, or say that your time is running out under the new program put in place by the President, are almost definitely scamming you.

Resmodo is run by an attorney licensed in New York State. We do not charge large sums up front, and we use custom software to cut down on preparation time and reduce errors commonly found in loan modification applications. Call us today or book a free consultation.