We are discovering from talking to many past and future clients that most lenders are not modifying mortgages and many that are not offering very favorable terms. Even after the Obama administration has stepped up pressure on lenders and the mortgage servicers. On Aug. 4th, about 3 dozen companies have been forced to publish data on their loan modifications thus allowing the public to see what are the odds of a favorable outcome.

It is estimated that about 6% of the eligible loan modifications are actually approved.

It is being advised to NOT give anyone any upfront money with the hope and promise of a successful loan modification. We work with a few reputable companies that we are happy to share with you. You may call us at 735-7653 for a referral.