Question: Hi, we just received a letter from US Bank saying we were approved for a loan modification but they extended the term an extra ten years, raised the principle balance amount by 13,000, raised our monthly payments by a hundred dollars and asked for 2200 up front. They said we had to have everything signed and returned with the money in a week! Is this legal? How does this help anyone? Any advice?

Answers

Posted By: info@rtlmwest.com on Feb 17, 2010 12:43AM

A: This is a nasty game that lenders are playing. They try to stick you with the worst possible modification and see if you take it. It sounds like you need to play hard ball with them. I would suggest you hire a loan modification firm to help you obtain a good modification. You can either fill out a form on the "get started" tab of this website or you can visit www.rtlmwest.com or call 877-702-9104.