'Help' Can Be Costly
Beware up-front, nonrefundable fees of loan-modification pros
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The implosion of the subprime mortgage market has been a boon to loan-modification consultants who promise to help borrowers refinance and get back on the road to financial stability.
Some advisers steer clients toward taxpayer-guaranteed refinance deals backed by the Federal Housing Administration. Others negotiate on borrowers' behalf with existing lenders.