Who Does Home Loan Modifications?
Home Loan Modifications by INDIVIDUALS or FACADES
There are hundreds of modification "companies" out there on the internet. Many of these are nothing more than a guy, with a website, sitting in his basement. Private enterprise is commendable, but an amazing number of these "companies" represent themselves as something they are not. Oftentimes a very professional looking website is nothing more then a cover. Employ this type of "company" at your peril. This is not who you want representing and negotiating on behalf of your most valuable asset.
Problems:
- Expertise - The individual doing loan modifications from home generally does not have the accreditation, background or expertise to efficiently and effectively secure a loan modification for the client.
- Availability - There is little to no oversight for the home based modification business. Availability of your "representative" can be based on the whims or weather of any given moment.
- Stability - Home based modification businesses are far more likely to close down and/or disappear leaving the homeowner with little or no recourse.
- Security - Individuals practicing loan modification as an "experiment" in business rarely have sufficient security software and hardware in place to protect their clients information.
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