Posted by Mdene_AZ on 4/5/10 11:40am
Msg #330372

Is anyone getting loan modificaions,

and are you required to pick up a check with some of them?

Reply by Linda_H/FL on 4/5/10 11:49am
Msg #330373

I think that depends on each individual state's stance on up-front fees - they're a no-no here in FL and many other states.

I don't take the modification apps any more....don't mind the finals because all the wrinkles have been ironed out - don't want to get involved in the app process - too many sleazebuckets involved in that business..

MHO

Reply by MistarellaFL on 4/5/10 12:47pm
Msg #330387

Only final paperwork, few and far between lately.

I don't do mod apps either.

Reply by jojo_MN on 4/5/10 2:33pm
Msg #330411

You might want to contact the State of Arizona regarding laws regarding modifications. It is illegal for companies to charge up-front fees in the states of MN and WI. Here is a link for Arizona mentioned on thier website. http://www.azdfi.gov/Alerts/Regulatory_Bulletin_MB&BK-09-02.pdf

Reply by MW/VA on 4/5/10 3:06pm
Msg #330417

There is a big difference between loan mods & loan mod apps.

If you do a search with the orange search button, there is a lot of discussion on loan mod apps.
This activity is illegal in many states if large upfront fees are charged.

Reply by Maureen_nh on 4/5/10 9:15pm
Msg #330461

Re: There is a big difference between loan mods & loan mod apps.

I do not do apps anymore because of the hassle and often you are not told everything up front.
I was begged the other night and told by the rep of a company that they would pay anything I wanted if I would do one for them and that these poor people would lose their loan etc, etc,.
Checked signing central for kicks and no wonder they would pay me anything, they seldom if ever paid at all.