TRUSTED FIRMS
Firms I Would Trust to Handle My Own Loan Modification…
I started writing about the mortgage meltdown and foreclosure crisis well over a year ago, and it’s been quite the education, let me tell you. In all my years, I have never seen anything communicated or handled as badly by our government or our media. I’m sorry, but that’s the truth.
Assuming that you’re a homeowner seeking a loan modification, chances are you’ve already tried to get your mortgage modified on your own. If you haven’t tried yourself to get your lender or servicer to agree to a modification, you may want to give it a shot. You certainly can contact your servicer or lender directly… as you’ve not doubt heard from everyone from the President of the United States on down to your local newspaper.
Is it a good idea to try to get a loan modification on your own… I don’t think it is, no. In fact, having interviewed many hundreds of homeowners who have been through the process with and without assistance, I think in the vast majority of cases it’s probably dangerous… or impossible.
The fact is that lenders and servicers have been shown to be willing to disregard the rules of the President’s program on hundreds upon hundreds of occasions. They have proven themselves to be untrustworthy, unreliable and uncaring. Banks and servicers have attorneys and mortgage experts, and in my opinion homeowners who decide to face that situation on their own, do so at their own risk… and peril.
I don’t really know why so many in our government seem to believe that homeowners can get a loan modification from a lender or servicer on their own. They’ve clearly been told that’s the case, and just as clearly have never tried it or been close to anyone who has.
It bothers me a great deal that so many people are willing to present themselves as knowledgeable authorities conveying information on such an important subject without having actually studied the subject matter, or experienced the process. When you consider that roughly 3.6 million people are projected to lose their homes in this year alone, it’s shocking really.
So, after receiving hundreds of calls and emails from homeowners who feel lost in this mess, I thought I’d publish my own listing of firms that I might hire to handle my own loan modification.
TO BE CLEAR… If a firm is listed here, it’s NOT because they paid to be listed. There is no amount of money that a firm can pay to be listed here. Period.
I decided to list the firms I trust here so that homeowners would know who I would think they can call for help without worrying about being taken advantage of, or deceived. I’ve gotten to know these firms pretty well. I’ve been to their offices, spent hours talking with the firm’s owners, checked them out with regulatory agencies, and asked others in the community about their reputation.
The bottom-line is… all of the firms listed here have my complete confidence. Each one is different and special in their own way, each has its own personality. But they all appear to be very good at what they do. They ALL get mortgages modified. They all have substantial investments in people, offices and equipment. I think they represent the best in the industry, no question about it.
In my mind a scam is a company that takes your money and fails to deliver any value in return. None of these firms are “scams”. That, however, doesn’t mean that by using these or any other firm, you’ll get a loan modification, or get what you’re looking for in a loan modification from your lender or servicer. No matter how good a firm is… at the end of the day, it’s the lender’s or servicer’s decision to make and getting a loan modification is nowhere near as easy or as beneficial as President Obama made it sound.
(NOTE: The California State Bar has published a list of attorneys that they say are being investigated, although they didn’t specify why they were investigating other than that they may have issues labeled misconduct. They also noted that those on the list could be exonerated, meaning that they may not be guilty of anything at all. You can find a link to the Bar’s press release and my article describing the release under Latest Articles on the Mandelman Matters home page… look for The California Bar’s Scarlet Lawyer List.)
SPOTLIGHT ON:
United Law Group Inc.
McFarlin & Geurts LLP
Feldman Law Center
Parman Law Group
Shah Peerally Law Group
CDA Law Center
Mortgage Relief Law Center
Litchney Law
Mortgage Restructuring Solutions
Traut Law Group
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FIRMS I TRUST IN ARIZONA:
Real Estate Consulting Services
FIRMS I TRUST IN LAS VEGAS
PALADIN LEGAL ADVOCACY CENTER
HOW FIRMS GET LISTED AS BEING AMONG THOSE I TRUST:
I get calls and emails from homeowners all over the country every week. And, as all of my readers are aware, I do not make money from loan modifications, mortgages, or real estate. In fact, I have never even been in the loan modification, mortgage, or real estate industries. I am a neutral, objective and un-biased party who has been writing to fight for homeowners for over a year now, and I’ll continue to do so until they are treated fairly and this crisis has ended, which the way things are going may be for the rest of my life.
Before I list a firm here, I need to know what the firm’s owners are like as people. Why they went into the business and how they think about and treat homeowners. I need to know that they are people who are compassionate, tolerant and understanding.
My goal is to be able to tell my readers that they can trust these firms in all cases… that they are all in business to do their best to help homeowners remain in their homes under terms they can afford… that they are honest.
An overview of steps I go through before placing a firm on my list:
1. I personally interview each firm’s owner, managing partner and/or senior manager over the phone at least once, which takes 30-45 minutes, and often times much longer.
2. I check online and with regulatory agencies in an attempt to ensure there are no pending actions or unresolved issues.
3. I also talk with others in the industry, check the firm’s references, inquire with competing firms, whatever I can think of…
4. I look at a firm’s internal practices, systems, reports & philosophy of doing business.
5. I review what’s said online, but I don’t place too much stock in Rip-off or BBB.
The result of this process, which takes about a week and sometimes two, doesn’t mean a “yes” or “no”. Whatever I find I bring up to the firm’s management directly to make sure the issue was addressed. I fully understand that almost every firm is capable of having some number of homeowners that have complained. Heck, every company that serves the public will have complaints.
If everything looks good, we also visit the firm and spend at least half a day seeing their operation function first hand. I’ve found that each firm has their own unique personality and specialized expertise. Some are particularly systems strong, others are more service focused.
The tragedy of someone losing their home to foreclosure as a result of what the banks and investment banks have done to our financial markets, with the help of our politicians and regulators is something I will never let go of or be okay with. I believe that history will show this to be the greatest tragedy in our nation’s history.
Before you decide to hire a firm to help you obtain a loan modification, whether it’s one listed here or another you’ve found on your own, you can feel free to contact me to compare notes if you’d like.
I can be reached anytime via email at:
mandelman@mac.com
It’s not that I consider myself some sort of guru on this subject… I don’t and I’m not. It’s just that after writing over 130 articles on the subject, and related subjects, I’ve had the opportunity to do an extensive amount of research, speak with various regulatory agencies, meet with literally hundreds of homeowners, and get to know dozens of attorneys and mortgage experts involved in loan modifications.
And, although I’m far from perfect, I figure that I’ve done a whole lot more in the way of due diligence than any homeowner could possibly do, so I figure sharing what I’ve learned is better than not. |
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