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  • Robert Weed

Paying for help with loan mods

Generally I don’t recommend paying for help with loan mods.  Two reasons.  I think people can do pretty well on their own.  And the professional loan mod business is filled with scams.  (Here’s an article about how Florida is trying to shut down scams.)

(When I say do pretty well on your own, that does not mean you will be approved the first time you apply, or the process goes without a hitch.   I probably know two hundred people who got loan mods, finally.  I don’t think any of them didn’t have all their paperwork lost at least once.)

Still some people ask me for a recommendation.   Here are two people you can talk to.

I believe these are honest people.  What does that mean?  I’m aware that both of these people, have told at least some people, “we can’t help you” and turned money away.  That’s different from the scammers who claim “100% success rate” and say “we guarantee you’ll get approved.”

So, I’m not in a position to say these people are always get results.  But I do believe they are honest.

The first is Compliance Counsel, headed by Dena Roudybush.   Ms. Roudybush is a lawyer.  In fact she was a lawyer for a large local mortgage broker–a company that I noticed was an unusually honest mortgage broker.

She did interview on News Channel 8 talking about who hard it is to try to compete with the scams.

Her number is (703) 261-7097.

The second is Fred Lear.  He operates as Vantage Negotiation Services.  Lear is a former loan officer.   His phone number is 703-447-8571.   He told me that he gets only a down payment of his fee upfront, and collects the rest when the loan mod is approved.

Again, I’m not in a position to judge how well these people do.  But I think they are both honest and do their best.

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