Homeowners who are having a difficult time to pay their mortgage are putting so much at risk when they consider loan modifications through these companies. Yes, I know the prospect of sending someone $1000 or more that will make your life right again is tempting.  But like Grandma said, if it's too good to be true, it's too good to be true.

There is no easy way to solve life's problems.  That doesn't mean it can't be done, it just means it's not going to be easy.

Getting a loan modification is something a home owner can do for themselves.  It is not necessary to pay someone else to do it.

According to Erin Toll, Director of the Colorado Division of Real Estate,  even soliciting to do a loan modification of a Colorado Resident is illegal unless you are a licensed mortgage broker.

In Colorado there's help available by calling theForeclosure Hotline. The Department of Regulatory Agencies offers a list of participating agencies one can call for help. The Colorado Housing Counseling Coalition (CHCC) also helps with stopping foreclosure and seeks to educate about predatory lending.Colorado acts against 7 loan-modification firms so yes even Colorado is not safe from these rouge setting up cottage industry shops to take your money regardless of whether or not they can help you.