Homeowner beware ! Make sure your mortgage modifier is licensed
South Florida Sun-Sentinel.com
More than 16,100 mortgage modification complaints filed in past six months
Mortgage modifiers must be licensed under new Florida law
State regulators cracking down, with 83 active investigations
Originally published By Diane C. Lade
South Florida Sun Sentinel
6:38 PM EDT, August 26, 2009
Hundreds of people calling themselves “foreclosure rescue specialists,” promising to quickly cut through red tape and reduce mortgage payments, have taken millions of dollars from South Florida homeowners over the past year for their services.
But unlike mortgage brokers or real-estate agents, mortgage modifiers are not required to have any special training or even a license — something many consumers don’t know.
5 tips on buying a foreclosed home
5 tips on buying a foreclosed home
Sure, there are great real estate deals to be had, if you know what you’re doing.
(Money Magazine) — 1. Finding one has become easier
You don’t need to show up at courthouse auctions or comb through legal filings. These days many banks sell foreclosed homes through real estate agents.
To find listings, look on sites that specialize in foreclosed properties, such as realtytrac.com and foreclosurepoint.com. The local multiple-listing service often has selections as well. (The fact that the home is in foreclosure is not always highlighted in the MLS, but it’s often mentioned in the description.)