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Two Cocke County women called 6 On Your Side recently about a loan modification company they say isn’t honoring its contract.
Modifying a loan can be tricky, and loan modification companies have sprung up everywhere.
One thing they don’t do is refinance your loan. Instead, they’re supposed to help restructure distressed loans with the lender’s approval, but the process isn’t guaranteed.
Plus, if you have to pay up front fees, be careful.
Karen Sanders is a care giver for special needs adults. She has two full-time jobs to make ends meet.
Karen works for Jureta Gregg, who adopted seven special needs kids some years ago.
Recently, Jureta hit financial hard times. Her big family lives in a spacious home in Parrottsville, about eight miles from Newport.
In December 2009, US Mortgage Funding sent a letter to both women. The company specializes in loan modifications.
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