Here’s the question: Rachael asks, “I am going through Echo Loans to do a loan modification. They advised me not to pay my mortgage this month. I am not behind on my mortgage, but owe more than my house is worth and my second mortgage is 12%. They advised me that my credit would be [...]

Loan modification companies are flooding my email these days attempting to sell me “loan mods” as easily and profitable as the old subrpime mortgage pitches. I can remember all those emails of all those subprime lenders pushing every loan officer and mortgage broker in the country to sell subprime loans to anyone who could fog [...]