WARNING - You Don't Need Their Help
It is part of my normal routine to contact lenders on behalf of my clients who are in the process of trying to obtain a short sale on their home.
Today, one of the lenders I called had an intro message warning their clients about third parties who approach them offering assistance on loan modifications. I was happy to hear they are educating their clients about their ability to act in their own behalf and deal directly with the bank.
It is my personal recommendation to all my clients to stay in contact with their banks once they fall behind on their mortgage payments - even beforehand, if they know they will have problems making the payments. Banks are willing to work with their clients. It does take some perserverance and tenacity, as well as documentation, but any homeowner has the ability to work out their own loan modification.
Unfortunately, in today's economic and real estate markets, there are some who are looking to make a profit from anothers misfortune. You don't need someone to help you do a loan modification! Run from anyone who wants to charge you to do this and get on the phone with your lender.