In case you haven't heard, the Obama administration has asked major lending institutions to commit to doing at least 500,000 loan modifications before then end of 2009. Is this a viable solution for your home? Have you lost your job? Has your income declined significantly since you first purchased your home? Has your mortgage readjusted to a higher interest rate that you can't afford? If so, there's a good chance that you may be eligible for a loan modification. One of the most common questions on many real estate message boards is, "Do I have to pay an attorney to obtain a loan modification?" The answer to that question is, "Only as a last resort."The loan modification industry is packed with charlatans who are ripping off consumers. If a company is charging ...
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