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National Advocacy Program Says They Can Save Our House From Foreclosure? – Sandra

Written by Steve Rhode

“Dear Steve,

bank is trying to forclose our house, worth 234000. and only owe 97000. no sale date yet, working with a lawyer trying to resolve, bank just gives the runaround.

Received a letter from National Advocacy Program in CA, we are in PA. They are saying they can help us to get a settlement. IS this company leget? We have been working with a lawyer, his only solution is bankrupcy, which will cost us 3000.00. The Advocacy also is 3000.00, which they want me to send to them and they say this can be solved in 90 days, when we have been working with the lawyer for 6 months and the bank refuses to modify. Do I trust anyone? We do not want to loose our home, but do not know who to turn to.

Sandra”

Loan Modification Green Road Sign with dramatic clouds and sky.

Dear Sandra,

It sounds like what you received in the mail was an advertisement to sell you services. Typically these outfits operate with commissioned sales people that make big promises but with no guarantees.

We need to start with one basic premise, no bank is required to modify any mortgage for any reason.

If you owe so little on your home and it is danger of foreclosure the best ways to protect what equity you have are to either sell the house, bring your payments current, or file a chapter 13 bankruptcy. But in a chapter 13 bankruptcy you will still need to make your regular mortgage payment plus an amount to bring your mortgage current.

Another point to consider in the advertisement you were mailed is if the attorney behind the service is not licensed to practice law in Florida then they can’t represent you as your lawyer.

I’ve written about the National Advocacy Program before, click here to see those posts.

Please post your responses and follow-up messages to me on this in the comments section below.




About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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