It seems that every day in the news there is another report of a disreputable Mortgage modification company taking advantage of desperate homeowners. This time the news comes from south Florida. The Sun Sentinel printed news about a law suit being filed between Attorney General Bill McCollum and Keep Your Property Inc. As has been the case with other companies in other parts of the country, Keep Your Home, was charging fees for services they never rendered. South Florida homeowners who were faced with foreclosures were turning to this company for assistance with mortgage modification negotiations. These people were depending on their 'experts' to assist them with securing new terms to their mortgage. The homeowners truly believed they were hiring a legitimate service to help them when reportedly they were paying scam artists an upfront fee and monthly payments to assist with these negotiations only to find as a result of the investigation conducted by the Attorney Generals office, that Keep Your Home was actually, just collecting payments and not doing anything. These trusting homeowners were paying an upfront fee of $2,200 and monthly fees of $550 for the company to file paperwork required to prevent foreclosure action. These customers who thought they were in risk of losing their homes were paying these fees they clearly could not afford to pay. How one manages to come up with these exuberant amounts of down payment when they are in arrears with their mortgage is mind baffling. Obviously they believed that Keep your Home was going to render professional services for these fees that the homeowners could not afford to pay. The situations for these distressed homeowners must have been so severe that it merited these individuals to somehow manage to pay these fees. With situations like this one in southern Florida, happening around the country to more and more unsuspecting homeowners how does one find a reputable and trustworthy agency to assist them with mortgage modification negotiations? While scams are more and more common place this does not mean that there is no one out there that you as a distressed homeowner can trust. There are some important steps to follow to help you avoid similar situations. How do you know a mortgage negotiator is legitimate? 1.They will not charge you a fee upfront. They will only make money if they are successful. Along those same lines they won't expect half of their fee if they fail. They realize that if you can not afford to pay the mortgage company that you can not afford to pay them if they are not successful. 2.They will not accept the first offer placed by the mortgage company. A good negotiating agency will realize that the bank is not going to offer their best deal upfront. They will also realize that it will do no good for them to settle on as deal you still can't afford. 3.They will offer a free consultation by phone. A reputable company will not charge you a deposit until they review your situation and know they can help you. A good reportable agency will use their time wisely and only represent you if they feel confident in their ability to be effective in your particular case. 4.They will be endorsed by an attorney. They will be able to legally stop the foreclosure 5.They will have a reputation of being able to buy you time. They should be able to freeze your payments up to 6 months, in the case of financial hardship. They should also be able to stop any annoying phone calls you may be receiving from the mortgage company. 6.They will design a plan that suits your particular situation. - Such as a low rate with a 30 to 40 year fixed term. They will be able to have late payments attached to the back end of your loan. So while there is certainly an obliteration of scam artists out there masquerading as negotiating services you will need to closely interview and investigate the service that will negotiate your mortgage modification. Discover how you can ethically modify your home mortgage loan and save as much as 47% off your current mortgage payment in as little as 60 days without refinancing? For your FREE CD, FREE e-book, and FREE coaching call with Mortgage Modification Expert and Business Man of the Year Billy Alvaro visit our website Saint Jude's Mortgage Rescue
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