Team Modify - The Loan Modification Team They said that they would help me modify my home loan. They guaranteed results or money back. They got $1,000 out of me and did not help me. The Loan Modification Team agreed that they could help me modify my loan. I paid $1,000 and with a guarantee and did not help. Glen Allen Virginia

The Loan Modification Team contacted me when our home loan was in default. I was very reluctant at first and I spoke with the same guy. He was very convincing to help us. He told me all the reasons I should let someone else (The Loan Modification Team)handle the situation for us. He said that they were trained to know what to say to the mortgage companies. He convinced my husband who is not so easily persuaded.

We did our homework on the company ,we thought. And they were not in BBB yet because"we are a new company" we were told. But that they had helped MANY families and were at the top when it came to this type of thing. Like I said they said all the right things.Even said that they helped a family that lived close to us. We were desperate because our mortgage company wasn't helping us with our interest rate therefore lowering our payment which we desparetly needed.

After 3 days of conversations with these people we agreed. Set up the $1,000 up front payment to get started. They told us that we did not have to speak with our mortgage company because they would do that in this process. I, in the meantime, got a Loan Modification packet from the mortgage company that had a proposal of a fixed rate (not lower) and that's it. Well that's what I ended up with.

The Loan Modification Team called me and told me the news of this terrible outcome. They seemed floored that the mortgage company didn't do better for us too. So I said you guys didnt help me. And they denied that because I got a fixed rate. Which in our eyes WAS better but that's what our company was offering in the first place. Then the other kicker to the story is they got another payment at the end of the transaction.

This whole thing has been a nightmare. Now we are late on our first payment since the "modification". And now The Loan Modification Team is out of business it seems. I can't find them on-line. Their phone number is disconnected too.

I wish someone would do something about this. I will contact the Attorney General on this and see what I can do. This is not right! And lesson learned on my part. Sadly it came from the pocket and my faith in honest people.