Host Robert Cornegy, Jr., 56 District Leader speaks with Kenneth Mbonu, Director of Economic Development at Bridge Street Development Corporation in Bed-Stuy, for a lively discussion about small business and economic empowerment in Brooklyn.
Loan Modification: Beware of Loan Modification Scam
Artists. If you're having trouble making mortgage payments or you've already missed payments, you're probably worried that it's too late to save your home. The good news is that there are legitimate loan modification programs that can help save your home from foreclosure. The bad news is that some scam artists seem to offer legitimate programs, but are actually trying to cheat you out of your home and your money.
For struggling homeowners who are behind on their mortgage, or are having trouble making mortgage payments, there is a program that can prevent foreclosure and make a fresh start: Loan Modification. A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, which allows the loan to be reinstated, and results in a payment the mortgagor can afford.