Q: This isn’t about a home sale exactly, but I hope you’ll look at my situation anyway. I hired a loan modification company that had a very good reputation. (I’m not behind on my mortgage payments, but I wanted to have my lender extend my 5-year adjustable-rate mortgage to a 30-year-fixed.) I was very wary of getting scammed, so I asked my mortgage broker — who has worked with my family for decades — to refer me to a company.
The company seemed legitimate. It was associated with a law firm, and offered to give me a full refund if it couldn’t get my loan modified. My boyfriend is an attorney, so he made sure my contract stated that the company would put my money in a trust account until they completed the loan modification.