We bought our current home as he market feel out from under us in 2007. In late 2006 we have 300-400K in equity in two homes. By the time we closed we one under water (eventual short sale) and one we made $22K on. Our $540K purchase was initially on a bridge loan as we sold these other homes. But the market got worse we ended up with a large loan (now at $517K, variable rate based on Prime flux for 30 years). Also I have prostate cancer and can’t get life insurance. My wife is worried if something happens to me (other than cancer) she won’t be able to afford the loan herself. SC LAw Group says for $3500 they can get the loan modified down to zilo.com based value of $365K from $610K as apprasied in 2007. But the idea of paying up front sounds like a scam to me. My loan is with Old Second Bank (Burlington, IL).
Is SC Law Group out of Irvine, CA a scam or ligit? Can a ligit group get my home loan substantially renegotiated?
What is your definition of a scam?
I urge you to follow my two guides to evaluate your choice of any company.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
You can look at the related articles section of this post to see what has been written about them in the past. The comments on any relevant post may be enlightening as well.
If you would like to explore mortgage options, consider the following advice as a starting point.
Please post your responses and follow-up messages to me on this in the comments section below.