Hate those fees that people charge up front to help get a loan modification? While some are legitimate and from legitimate firms, there are an increasing number that aren't. You pay your money and--that's all that happens. You pay your money! No loan mod, no nothing, except a bigger hole in your wallet.
Well, take heart! The Federal Trade Commission is proposing a rule that will ban any fees from loan mod firms until AFTER they have a letter documenting a legitimate modification offer from the lender involved. Stay tuned for more as it develops.
Monday, February 8, 2010
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