I tell people all the time that these operations are a scam, but people just don't listen. I'd like to know when the banks are going to get penalized for their "Loan Modification" scams? A so-called "Loan Modification" is the bank's way of squeezing three more months of mortgage payments out of you. They do it by putting you on a three month "trial period" and then on the fourth month you're told that you don't qualify. And just like that, the bank got three month's more mortgage payments out of you!!!
Three people arrested in mortgage, foreclosure scam - News - ReviewJournal.com
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