WABroker

Many people who have attempted to use a loan modification to help stop foreclosure, have been disappointed by the results.

Some have payed cash upfront for foreclosure consulting services, and received little or no assistance. These people eventually lost their homes in foreclosure.

A government bill signed by Governor Schwarzenegger prohibits real estate professionals from requiring or accepting advanced payments for loan modification consulting services. The broker and client must sign an agreement which specifically states which services will be performed. This contract must allow the homeowner to terminate the agreement within 3 business days.

Before entering into any loan modification consulting contract, make sure the agreement meets or exceeds these requirements.

Remember, never pay upfront for loan modification consulting services.

For more information about preventing foreclosure, get your FREE copy of "7 Foreclosure Facts Your Bank Will Never Tell You."