Has anyone heard of Morton Johnson Associates in Virginia? They are a consulting frim that specializes in helping people facing foreclosure to keep their home. I can not find anything on the web about them and a friend of mine is thinking of using them. Any information would help. Thank you.

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Dear lita you are so wrong about mitigation services they did help me save my house after hope did nothing, hands was to busy, and the free lawyers help in Florida will refuse to take my case because i was already in foreclosure ...what a nice free service for nothing .....so not all mitigation services are frauds...just check who they are ....before you do anything........

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Lita needs to know that a professional team of lawyers will be able to negotiate a much better deal for the home owner than they could vere get by themselves. I've seen in some cases a 30% to 50% reduction in their monthly house payments and in some cases a reduction in the loan balance. So don't say mitigation is a bad thing Lita.

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this is the first time i have ever been in a money crunch / my job/marriage/home i still am dumb founded about how i can get help amoung getting help from different svcs, also my percentive of my mortage is 9% or higher i behind on payments/with a part time job/enrolling in a new trade /how or what /where do i go from here.

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I agree that there are a lot of companies out there that don't know what's up from down. They are there to make a quick buck. But I don't agree that you say you shouldn't go with them at all. If you have every tried to use these services "free services" you will find that many of them can't accept you because they are backlogged. Do you research on law firms and mitigation companies. They should provide you with references if you want them. Try to restructure your own loan. Unless you have hours to spend on the phone and know the laws of your state you will most likely fail.

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I work for a Ins company in claims, in the course of water damage, if you dont start the proper drying out process within 3 days, you will have mold problems. Restoration companies do charge a lot but is it not worth it, do u want mold in the home, water in the walls and flooring, mold on the pads under the carpeting. Theses companies come in to your home remove base boards, make holes in collapsed ceilings, walls. People think they can get this water up with their sump pump or a wet vac,,,NOT..please do not wait to turn water off to the home, and dont wait until u have had this problem for ongoing days.

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While you are correct that there are a lot of companies out there to scam people, there are plenty of legitimate helpful companies that work for a fee. They will get a modification based on current financial info not from past applications, as even some lenders do. Some companies like the one I work for, won't even take your money unless we prequalify first to make sure you are a good canidate for modification. If we determine by the prequalification that we will be successful, and it turns out we are unable to modify your loan we will give you back 100% of the fee you paid.
It is unfortunate that all companies within an industry can be characterized by the actions of a few.
Do your homework....check the better business bureau...check liscensing at the department of banking for most states on line.

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I disagree. I have heard horror stories of consumers trying to handle their own loan modifications. Lenders are anything but responsive and consumers get the runaround with customer service and loss mitigation depts. Although there are some major scams going on with attornies and so-called loss mitigators, the best results so far of loan modifications has been with consumers who have presented a comprehensive case through a loan modification consultant. As with anything, be careful who you work for and don't pay up front fees. Consultants should not be paid until they have performed a service worthy of a fee.

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I talked to Hopenow and they told me that they did not feel comfortable helping me because I had a big house and they felt I could afford a atty,so do you have to been in a certain category to get help from them. I thought they helped everyone I did not know that they also discriminate as to what kind of home or area you live in. the person who was on the news when they broadcast about them helping people was a constuction worker who lived in a new great home in a new area, (the home looked great on TV ) and he said they saved him over a $1000. on his mortgage after he loss him business. But now I am dealing with a non profit company and hopefully I will get my payment reduced because they are trying to help me. The company is Housing & Education Alliance Inc located in Tampa, FL you can go to www.myhomeamerica.org and read about them

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Tony,
I would be glad to address this. please e-mail me mfox@managemymortgage.net
or go to our
website www.managemymotgagepa.com

Thanks
Mary

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Lita : YOU are absolutely wrong, you should not misinform readers..you should be specific and educate them to first research who they hire, that is the key, loan modification services are very effective and the agencies you point out are so overwhelmed that you sit on the phone days on end and the wait period for those services is endless...not because they dont want to help but because its free and they are overwhelmed with files...many homeowners dont have the time or the effectiveness that other professionals do to better negotiate their position...Same way you print your publications and market them to readers to buy and are they really effective? maybe-- loan modification servicers deserve to get paid for their time and for the good work they do...

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I work for a company in Campbell, CA that has been approved by the Dept. of Real Estate, State of CA. to provide an Advance Fee Agreement to client's for the assistance in having their loan modified with their lender. The Advance Fee Agreement was approved by DRE and the funds collected from the client are placed in a Trust Account with Bank of America. As steps are performed on client's modification request, the fee associated with each step can be released from the Trust. If the company does not complete the step, the funds can't be removed from the Trust. Now with this said, before the client pays the fee, he/she is given a free consultation and told to bring in all of their papers relating to your loan to evaluate if they have any chance for loan modification or some form of workout with the lender...determine their 'hardship', etc. I have been in the mortgage underwriting business for more years than I can remember. I know when a client has a true 'hardship' which can be due to many factors beside loss of wages. I listen to the client and I present to the lender a full analysis as what it will take to get the client back on his feet and to pay his mortgage to the lender in a timely manner. During my negotiations with the lender, I build a rapport with the client, lender and myself so we are all working for the same goal. Client stays in his house and the lender avoids costly foreclosure proceedings in a declining market that has now hit CA. I believe I've earned my fee as each step of the agreement has been performed but ultimately the last step which is the modification is at the lender's discretion. If the modification is not granted we refund to the client a sizable portion of his deposit for not performing the last step by the lender.

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