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Division of Real Estate investigators are looking into how loan modification companies charge clients. Charging up front for services that haven’t been rendered is against state law.
“We have dozens of investigations going on right now into loan modification companies for the very same issues that are presenting to this family,” Urban told CBS4.
They also warn homeowners that many of the services offered by loan modification companies can be had for free through non-profit housing counselors.
“It’s a matter of going for what’s free first, and then if you want to pay, then only pay after a result has been accomplished,” Urban added.
