Philadelphia, Pennsylvania (PressExposure) April 14, 2009 -- After months of investigation into private loan modification companies I have discovered quite a lot of interesting facts. During this time I have investigated over two hundred private modification firms and have seen the good and the bad. First no one is defending or would ever defend fraudulent loan modification companies. That being said, legitimate loan modification companies such as US Mortgage Mod in Philadelphia are doing a MUCH better job helping homeowners keep their homes by negotiating with lenders in order to modify their payments. You heard that rightâ¦ A MUCH BETTER JOB. President Marc Dâambrosio says, âWe charge our customers in three installments during the modification process, the last payment being made when the modification is completeâ Only a legitimate company can offer that with a money back guarantee to go along with it.
I discovered that the government can't seem to figure out how to regulate the loan modification industry, so they are abdicating their responsibility by making the blanket statement about loan modification companies: "If you have to pay, walk away.â The government's responsibility here is to regulate the loan modification industry to protect consumers. You know, punish the bad guys and leave the good guys to do their jobs. US Mortgage Mod helps homeowners who are in trouble, and earn a fair profit as a result. If that idea sounds familiar, it's because that's how EVERY business or industry operates in America. US Mortgage Mod actually helps consumers get their loans modified; they are mortgage experts being paid to represent a homeowner's interests. In general people paid to do a job do it better than government workers or volunteers. Go figure. US Mortgage Mod is paid to represent the best interests of the homeowner â And no one else is. Period.
In my opinion I'd prefer to have a knowledgeable expert watching out for my best interests, and I don't mind one bit having to pay that expert for their time and expertise. Of course, that's just me. Other people might choose to take a shot with a government help-line. It's entirely up to them. I called the government help-line myself, it takes some time, a couple of hours sitting on hold to be specific, but I encourage others to do the same. âThe President's Affordability & Stability Program only modifies loans for five years, assuming you qualify for a modification the program only modifies your adjustable rate loan into another adjustable rate loan, if rates are higher five years from now, then what?â The fact is that US Mortgage Mod is achieving significantly better results for homeowners. Routinely, we get modifications that change adjustable rate loans into 30-year fixed rate mortgages. US Mortgage Mod expects to modify over 1,000 mortgages this year and of course, they will charge a fee for their work, but since all of their customers that I spoke with personally didn't mind paying that fee in the least then I'm thinking it should be okay.
Mr. Dâambrosio makes a very interesting point when asking, âWho would tell the President not to use private modification companies such as US Mortgage Mod ? The banks, that's whoâ¦ The Banks do not want US Mortgage mod helping consumers obtain loan modifications. Why? Because they'd much prefer to deal with homeowners who are not experts in mortgage terms. Your bank would rather have a less experienced person with which to negotiate then one of our attorneysâ
In the end banks are debt collectors and they want their money. When a homeowner in distress calls a bank directly to ask about modifying the terms of their mortgage, they are asking the bank to write off some of the money they owes the bank. Does anyone imagine that the banks will be terribly helpful in that situation? If you do, then you've never been late on your car payment or mortgage paymentâ¦ because in those situations the bank is not your friend. They want their money, and as much of it as soon as possible is their clear goal. Banks are not being honest when they tell the President that consumers can simply call them directly. It would be like the police telling you that you don't need a lawyer. Whatever your bank tells youâ¦ check it out for yourself. Do not believe them at face value. The banks have proven themselves to be less than honest, and capable of anything. Us Mortgage Mod is one of a handful of honest and reputable mortgage modifications companies operating today. They can be reached at 1.866.859.8764, or online at [http://www.usmortgagemod.com] .