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Temecula, CA (PRLEAK) October 1, 2009 – A survey by the Certified Financial Protection Group shows a rise in the number of trial loan modifications being offered to consumers in order to settle their mortgage payments. What consumers need to realize is that trial loan modification is merely a temporary reprieve lasting no more than three months. Nevertheless, consumers are still unsure of facing foreclosure at the end of the period.
Don Brokaw, Director of Operations for Certified Financial Protection Group has taken note of the number of complaints that consumers have against lenders offering them trial loan modifications. Brokaw reiterates that fact that consumers look for permanent loan modifications and are turning to CFPG for assistance in this respect. Most consumers feel that they haven't achieved anything with a trial loan modification. Making trial loan modification payments on time does not mean that banks are ready to approve applications for permanent loan modification. There are no guarantees whatsoever.
A number of lenders throughout the US offer a three-month trial loan modification program. Their main objective is to convince consumers that the trial period is only a pre-cursor to obtaining permanent loan modification. However, consumers need to be aware that this is not a fact. Consumers may be able to keep their home for a short period while lenders set about assessing their financial status. However, with no guarantees, and the fact that trial loan modification is a privilege and not a right, it does not seem a viable option.
About Certified Financial Protection Group: CFPG is a team of professionals with over 50 years in the financial services industry. The group's main objective is to help homeowners across the US deal with the mortgage crisis and impending danger of foreclosure. The group remains committed towards educating homeowners on various financial solutions available for their well being. CFPG assists attorneys and other qualified professionals outsource forensic loan auditing and loss mitigation processes. Further information on the CFPG is available at www.certifiedfinancialprotectiongroup.com, or they can be contacted on +1-888-861-2135.
Don Brokaw, Director of Operations for Certified Financial Protection Group has taken note of the number of complaints that consumers have against lenders offering them trial loan modifications. Brokaw reiterates that fact that consumers look for permanent loan modifications and are turning to CFPG for assistance in this respect. Most consumers feel that they haven't achieved anything with a trial loan modification. Making trial loan modification payments on time does not mean that banks are ready to approve applications for permanent loan modification. There are no guarantees whatsoever.
A number of lenders throughout the US offer a three-month trial loan modification program. Their main objective is to convince consumers that the trial period is only a pre-cursor to obtaining permanent loan modification. However, consumers need to be aware that this is not a fact. Consumers may be able to keep their home for a short period while lenders set about assessing their financial status. However, with no guarantees, and the fact that trial loan modification is a privilege and not a right, it does not seem a viable option.
About Certified Financial Protection Group: CFPG is a team of professionals with over 50 years in the financial services industry. The group's main objective is to help homeowners across the US deal with the mortgage crisis and impending danger of foreclosure. The group remains committed towards educating homeowners on various financial solutions available for their well being. CFPG assists attorneys and other qualified professionals outsource forensic loan auditing and loss mitigation processes. Further information on the CFPG is available at www.certifiedfinancialprotectiongroup.com, or they can be contacted on +1-888-861-2135.