What Can Loan Modification Cost Per File Be?

A loan modification cost per file depends on
several variables.

First and foremost you have to check out the
company you have selected to work with.

There are many companies that offer loan modification
services. They can be roughly divided into three groups:

1. Legitimate and experienced firms that offer 100%
   money back guarantee and produce results.
2. Inexperienced loan mod "newbies" that have just
   got in the business.
3. Scam artists that have no intention or desire to
   help you, they only want your cash.

A legitimate company will have a physical address and
a customer service number

A "Fly By Night" operation may not even have a
web site. One giveaway of such an operation is their
willingness to be very flexible with their pricing and
they also have a non refundable portion of the payment.

Working with your lender is not as simple as it may
seem. There are Loan Modification kits that have
become very popular lately, don't be fooled by them.

They are sold for profit, they are very much like
those Government grant kits you see everywhere-they
are a waste of time and money.

Unless you know how to present your case to your
lender and more importantly how to negotiate with
them, you'll be wasting valuable time and may be losing your home.

As far as pricing is concerned a legitimate company will charge you a fee between $1500 and $3000. It all depends on your case, if you have more than one mortgage etc..

The loan modification process may last up to three months or more. Your lender is working on thousands of files. The ones that get done are those that are presented with an understanding of how your lender looks at a potential modification

A good team of negotiators will resubmit your file several times if necessary. Your lender will usually offer the bare minimum the first time.

Call me, I can help you decide what option is best for you. I have been in your shoes. Foreclosure is a personal matter to me.