Loan Modification Services Prohibited In Vermont Unless Licensed, Say State Officials
- Homeowners having trouble making mortgage payments or facing foreclosure should be cautious when offers of assistance come unsolicited, requiring up-front fees, or are high-pressure sells, officials for the Vermont Department of Banking, Insurance, Securities and Health Care Administration said.
- (BISHCA) has received inquiries and complaints about so-called foreclosure “rescue” services. While it is not inherently illegal to offer these services, the person doing it must be licensed with BISHCA as a lender, mortgage broker, or debt adjuster, said BISHCA officials.
For the story, see State: Be wary of foreclosure rescue services.
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