| After exhaustive research, we got the answers | | | | increased medical expenses, it seemed only |
| we were looking for. Let’s take a look | | | | reasonable to make a go of this business. We |
| thirteen months back, when we realized that the | | | | now spend many hours researching new loan |
| mortgage payments were higher than we could | | | | modification companies, talking with people about |
| afford. In talking to numerous loan modification | | | | their experiences and referring people to the |
| companies, we went with a local company that | | | | same people that we have had success with. |
| offered 100% money back guarantees, able to | | | | Let us tell you one thing, start this process early! |
| do business in 50 states, great customer service | | | | Here is how we weeded out SCAMS: |
| record and a 97% success rate. Ok, we still | | | | - Go visit the location of the building, if possible. |
| spent another month reading internet blogs, sales | | | | Set up a meeting with in person. |
| pitches, setting up meetings and talking with | | | | - Check the contract. On the phone, someone |
| people along the way to find just the right | | | | promises future and wonderful results, but then |
| company. Great! We were ready to go and | | | | they send a contract that reflects no guarantee |
| signed our names, made full payment (the fees | | | | nor promise of any results. |
| can be steep but worth the headache) and sent in | | | | - Find out what type of arrangements have been |
| every bit of paperwork that our home seemed | | | | made with other clients. Some companies post |
| to have in it. Thirteen months later we have | | | | this on their website. |
| completed the second cycle of stip-mod | | | | 1. Bi-monthly at least is standard. |
| payments and have at last, achieved our loan | | | | - Ask how often you will be updated, who will be |
| modification cutting our payments in half and | | | | contacting you, the contact information (email, |
| reducing our second mortgage to a fraction of | | | | phone and fax number) and how they will keep |
| what it was. | | | | you updated. |
| So here we are, a little over a year later and can | | | | - See how long they have been in business and |
| stand with the best of them when talking about | | | | ask for the principals of the company, ask for a |
| loan modifications. As we fight the personal | | | | resume, then google the names to see if they |
| challenges of layoffs, reduced work hours and | | | | have any negative hits against them. |