You are probably now familiar with Mortgage Modification programs. These are designed to assist homeowners modify their loans when they are unable to meet their mortgage payments, the lender can meet with them in order to assist them in modifying the mortgage loan, whether to either reduce the principal balance or interest rate. But, when you are approached by someone who promises to help and asks for money up front, you should really run as fast as you can.
Keep in mind that only a few select people are going to be able to qualify for this plan, and the reason for this is because you need to be able to come very close to a payment that is not too far off from what you are paying now. Modifying your mortage payment can only be done by the lender, but finding a professional to help you negotiate this modification isn't easy. So, beware of foreclosure rescue operations out there and what they offer.
I am a Certified Distressed Property Expert that can help. For more information on this process, please visit my website: http://www.inlandempireshortsaleresource.com/.
-Mayer Dallal
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