Questions to Ask a Mortgage Loan Modification Expert

Part of the Loan Modification For Dummies Cheat Sheet

When facing home foreclosure, you may want to discuss your options with a loan modification expert. Screen candidates carefully to make sure they have what it takes to successfully modify your mortgage. Always ask the following questions:

  • Are you licensed or certified, and if so, in which profession?

  • How long have you been in business?

  • How long have you been doing loan modifications?

  • How many loan modifications have you handled?

  • Of the total number of cases you’ve taken on, how many resulted in an affordable loan modification?

  • How many successful modifications have you negotiated with my lender?

  • How many clients have you turned away?

  • Who’s going to negotiate on my behalf?

  • Are you an attorney? Will I meet with an attorney?

  • How many hours does an attorney spend on my file?

  • How much do you charge?

  • Do I have to pay upfront?

  • What’s your refund policy?

  • If I reject the lender’s offer because it isn’t affordable or reasonable, do I get a refund?

  • I’m also considering Company XYZ; are you familiar with them?

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