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Review 4/16/2009
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I was afraid to do a modification at first because eveyone said it was a scam and that I could do one on my own with my lender.
They were so wrong! I didnt get too far with my lender other than a lie!
I decided to trust professor mortgage and submited my paper work with 1500.00. and more nervous than ever.
I waited and waited and was told by professor mortgage that it is being worked on.
Then the third month went by and my lender called and threatens to foreclose if I dont pay my 4mos behind, but I stood my groundand let professor mortgage handle it.
Finally in the 4th month I recieved a letter from my lender with a new fixed rate and a reduction of my monthly payment by 485.00.
What a relief. I usd to havea 6.75 adjustable rate and a 1177.00 payment. Now I have a 5.0 fixed and a 692.00 a month payment for the life of my loan!
Yes it is a bit scarey, but the endresult is a lowered payment interest rate and almost a 40,000.00 savings in interset in the life of my loan, well worth the 2000.00 investment.
I encourage anyone to step outof the box and trust this company!!!!!!!!!!!!!
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