Has anyone out there ever heard of the company Loan Lodification Key?
Have you worked with them and how was your experience?
Has anyone received a principal reduction on an investment property?
I appreciate all feedbacks! Thank you
I have not heard of them, are they just in NY or throughout the country?
Thank you for the prompt reply!
This company is based in San Diego but are available all over the country. You can order a software for $99 to obtain your personal key, meaning the exact amount required to qualify for a loan modification if the property is your primary residence. Complete package, forms, etc....
For $1500 they will submit your package to the lender and handle all communications as well as figuring out the perfect balance between income and expense to qualify for an interest reduction and possibly a principal reduction on investent property! She claims that she has been able to obtain principal reduction from BofA on investment properties in the past and has provided copies of approved loan mod!
I wonder if I should risk the $1500 as a last resort before trying a short sale as my next step?
I always I appreciate all feedbacks and suggestions :)
They are charging you $1500 upfront to do a loan mod?? I would steer clear of this. Often times these types of companies will take you money and not do the work promised. I do not know the company you are referring to but it is common to hear stories about people paying these upfront fees and never getting the mod completed. I would be very cautious.
thank you! It is what I am afraid of! If she can get the loan mod done why not get paid as we go or once the work is done?! I am being cautious
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