In cases where you are uncomfortable negotiating with your bank, or feel that you may be emotionally too close to the situation, select a loan modification specialist to assist you.  When researching options for representation, be sure you are dealing with a reputable company that explains the process and any fees upfront.  If a deal sounds too good to be true, it probably is. 

One safeguard in finding assistance can be to look for the NLMAA member logo.  If you see a NLMAA member you can at be assured that the individual has committed to abide by the NLMAA code of ethics which encourages fair, prompt and courteous treatment of all homeowners. 

Other information you should gather when exploring companies to assist with your loan modification include:

• How long have you been involved in the loan modification business? (The longer the better)
• How much does your service cost? (Is this reasonable?  Do they want a large percentage up front?  Use the guideline of about one months payment as a yardstick)
• Are you a member of the Better Business Bureau? (Yes is good, research them online)
• Can you provide customer references? (Speak to as many people as possible)
• Do you work in conjunction with an attorney or law firm? (Often legal firms and attorneys have more leverage working with lenders than others)