Is NuVision Relief Center a scam or is it a legitimate company to work with for a loan modification?”
Whenever I get questions like this they always make me wonder what each persons definition of a legitimate company are.
When it comes to getting mortgage modification help I always think it is a smart move to first contact a free HUD Housing Counselor to see what assistance may be available. And of course, contact your mortgage company directly and ask what programs you might qualify for.
But when it comes to mortgage loan modification help you need to be aware of the MRS Rule. The Mortgage Assistance Relief Services Rule says consumers should not pay for mortgage modification assistance in advance.
Who is NuVision Relief Center?
NuVision Relief Center says they are “a document preparation company with a working knowledge of the real estate and consumer credit industry.” – Source
The company, claims to be located at:
According to the Missouri Secretary of State there is no company registered to do business under the name VuVision Relief Center.
There is no site registered under the email domain NuViewRelief.com.
The ownership for nuvisionrelief.com is hidden.
The address they give appears to be for a virtual office. – Source
The Better Business Bureau has limited information about this new company and labels them as “Debt Relief Services Not Complying with FTC Rule” and has issued them an F rating. – Source
So what we have here so far is a company of uncertain ownership, that appears to have recently gone into business, does not appear to be registered to do business, the BBB has limited information…and yet they claim to have hundreds of client reviews. – Source
It makes me very suspicious almost 300 would provide feedback on a little known Nationwide Business Bureau site. Something stinks here.
I invite you to do your own background check on this company before you leap.
I would recommend that anyone considering using such a company should read the following free guides.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
Be sure to first read How Not to Get Scammed by a Mortgage Loan Modification Company.
First you’ll need to determine your current debt-to-income ratio. The target debt-to-income ratio under the Home Affordable Modification program is 31%. Use this free online DTI calculator.
Mortgage Modification Calculator
The mortgage modification eligibility calculator will ask you several questions and then show you which programs you may be eligible for.
Free Mortgage Modification Help and Counseling
If you have questions about the process or eligibility you can call 888-995-4673 and get connected with an mortgage modification adviser for free. This help is provided by government subsidized HUD Housing Counselors and they can be a big help in navigating the modification process.
In order to assist you, the housing expert will need to gather some information from you. Have the following documents handy:
- Information about your first mortgage, such as your monthly mortgage statement.
- Information about any second mortgage or home equity line of credit on the house.
- Information about the monthly gross (before tax) income of all household members contributing to pay the mortgage, including recent pay stubs if you receive them or documentation of income you receive from other sources.
- Information about your savings and other assets.
- Account balances and minimum monthly payments due on all of your credit cards.
- Account balances and monthly payments on all your other debts such as student loans and car loans.
- Your most recent income tax return.
- It may also be helpful to have: A letter describing any circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.), if applicable.
You can also get free help and housing counseling from a local HUD approved counselor. You can find your local free housing counselor, here.
Contact Your Mortgage Company
Not sure if your mortgage company offers modification programs? Not all do. You can contact your mortgage company to ask them about mortgage modification programs you might be eligible for. Click here to find your mortgage company.
Want to know the net present value (NPV) of your home for the mortgage modification process? No problem, use the free NPV calculator to find out. The NPV calculator is right here.
The calculator can be used by homeowners who have been denied a HAMP modification because of their NPV result or can also be used by homeowners prior to applying for a HAMP modification to help them better understand the NPV evaluation.
No Advance Fees
The Federal Trade Commission has a Mortgage Assistance Relief Services Rule which prohibits advance fees for mortgage rescue services or mortgage modification help.
Please post your responses and follow-up messages to me on this in the comments section below.