Do It Yourself Loan Mods, A Good Idea?

Many people who have attempted to get loan mods on their own have complained about problems with banks involved in the federal loan modification program. It appears that banks are dragging their feet when lawyers are not involved, resulting in paperwork getting messed up. The end result when attempted on their own: homeowners are being forced out of their homes.

One person waited seven months trying herself. After contacting a debt settlement company, she got her mortgage payment cut by $400 a month and can now afford to keep her house.

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