Just a quick note here as today I met with another homeowner who had been speaking to a LOAN MOD Company out of state asking for $2,500 up front. Sellers beware of any loan modification program that is asking for upfront fees as many of these are scams designed to further prey on distressed homeowners. Often the story goes the homeowner pays thousands of dollars upfront for some false hope and typically gets nothing in return. The old saying applies here more than ever, "If it sounds too good to be true, it probably is." Presson.
Monday, May 4, 2009
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There is a foreclosure rescue fraud statute in effect in Florida since October 1, 2008. It significantly restricts non-lawyers from taking up front fees to negotiate short sales. Mortgage brokers can charge a fee but only that consistent with a mortgage application fee. Better to speak with a real estate lawyer about your options.
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