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Loan Modification

: The Truth About Mortgage.com

Upfront Fees on Loan Modifications Set to be Banned Nationwide

By scot184

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The FTC has proposed a new rule that would ban upfront fees for loan modification services nationwide. Per the rule, companies offering such services would have to wait until after receiving a documented offer from the loan servicer or mortgage lender to collect payment. “Homeowners facing foreclosure or struggling to make mortgage payments shouldn’t have to contend [...]

Full post as published by The Truth About Mortgage.com on February 05, 2010 (boomark / email).

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