Nearly 30 loan modifications companies will be shut down Tuesday for not following a new law.
The Nevada Division of Mortgage Lending is closing the companies because they failed to meet their obligations to get a minimum $75,000 surety bond. The bond is a provision meant to protect consumers who may have been hurt by the loan modification provider.
Starting Tuesday, homeowners will be able to see a list of companies that are authorized to provide loan modifications on this website. Consumers are also able to file a complaint using this form.
