http://www.expert-loan-modification.info. Many American homeowners today are falling behind on their mortgage payments. Sadly, a close family member was one of them. Faced with the threat of foreclosure by his bank he started looking into the possibility of refinancing the mortgage to reduce his monthly payments. He knew that if he could get the payments down, he would be able to keep his family’s home. This article provides an overview of some key lessons he learned during this painful process.

I won’t go into all of the details of his personal journey through the loan modification process but let’s just say that it was pure hell. He tried to figure out the process on his own and quickly found out that he needed some expert advice.

He then started contacting “loan modification experts” and that is when things got really confusing. He expected to deal with professionals. Instead he was swamped with annoying calls from kids, fresh out of college, who didn’t even know how to spell mortgage let alone renegotiate my loan with my bank. He learned the hard way that most of these amateurs (who called themselves specialists) were really part of a complex network of loan modifications scams.

Here are the top 5 warning signs that the company you are talking to might be part of a loan modification scam.

1.They charge a large upfront fee. Many scammers will ask for $1,000 or more up front hoping that they can pocket your money before you catch on. There are lots of good firms that will charge a small fee ($200 or less) to get started but a large fee is a big warning sign.
2.They claim to have “secret information” that will help save your home. That’s a load of (you know what). There are no secrets in the mortgage industry. All legitimate businesses play by the same set of rules.
3.They use high pressure sales tactics. Constant follow up calls, trying to push you to make a decision, describing how your family will end up homeless…these are signs of a scammer at work.
4.They can’t (or won’t) provide references. Ask for a list of families they have helped. If they can’t give you references they are either a scammer or really bad at the loan modification process. Either way, you should avoid them.
5.They “guarantee” that they can save your home. No legitimate and ethical business would ever guarantee that they can fix the problem until they know the details of your situation. If someone guarantees the results to get you to sign up with them they are probably a scammer.

How do you protect yourself? Start by dealing with a free service that already screens out the scam artists. Click here to visit the company that he used.

Find an expert to help you with your loan modification by going to http://www.expert-loan-modification.info

Don’t get ripped off by a scammer!