Pro City Mortgage is a loan modification service that makes several claims about the success of their services. Borrowers who have used their services paint quite a different picture of their Pro City loan modification experience.
One of the most shocking testimonials about Pro City’s services came from a borrower who claims that Pro City charged her to get a loan modification with terms that were identical to the terms her lender had previously offered. Basically, she paid Pro City Mortgage to do exactly what she had done herself.
The problem with a pro city loan modification is that they operate in such a way that allows them collect upfront fees, despite all of the people warning borrowers to stay away from loan modification charging upfront fees. They claim that their upfront fees are totally refundable if the loan modification is not approved, but there is more than one person out there who claims to have been unable to collect a full refund for a failed loan modification attempt.
When put into perspective, the idea of a refund doesn’t compare to the ability to maintain ownership of one’s home, and since Pro City appears to make their profits by doing very little more than what borrowers could do for themselves, borrowers would be wise to stay away.
When a borrower hires a professional to perform a service, they hire the professional to do a better job than they could do, otherwise, they wouldn’t have hired the professional in the first place. This same train of thought should be shared by borrowers seeking a loan modification.
A loan modification company that provides loan modification assistance like Pro City Mortgage is nothing more than a middle man service charging clients unnecessary fees.
Borrowers are urged to avoid services like Pro City and hire an experience foreclosure attorney instead. The reason why an attorney is a better investment than Pro City is because an attorney can provide a service far above what the average borrower could provide for themselves and therefore far above what Pro City could ever provide. In fact, part of the reason Pro City offers their money back guarantee is probably so the borrower can hire an attorney if their efforts fail (assuming, that is, that the borrower is able to get all of their money back). If a Pro City loan modification attempt fails, the borrower has two options: accept the foreclosure or take their lender to court. Since Pro City is not a service that provides mortgage litigation services, the borrower will have to take their rejection documents from Pro City and track down a suitable foreclosure attorney if they want any chance of keeping their home. If the borrower would have just hired an experienced attorney from the beginning, they would have hired a relentless negotiator and an experienced litigator all in one. A company that offers loan modification assistance should be able to provide assistance to their clients from the beginning to the very end of the entire process. Not only would the attorney be able to provide this kind of dedicated service, they will also be well equipped with background knowledge of the case to successfully litigate.