New Loan Modification Requirements

Posted by: on: April 5 2011 • Categorized in: Foreclosures,General Housing Market,Short Sales,Tampa Housing Market


If you are considering a loan modification or short sale, make sure your agent gives you the new required disclosures for M.A.R.S. These are new requirements from the Feds to make sure you do not get “taken” by any company charging up front fees to help you get a loan modification. Many times my clients have told me they gave $1500 to $3,000 to a company up front, and then had nothing to show for it. The only people allowed to charge up front for this service are attorneys. Real estate agents are paid by your mortgage company for doing the short sale. I’ve never asked for any money up front from my clients.
If you’d like copies of these forms, just send me an email or give me a call. JMontano@JanetMontano.com or 813-956-3563. www.tampa-foreclosure-solutions.com

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