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Subprime mortgage brokers have resurfaced in a new industry as “loan fixers,” allegedly assisting with loan modifications. Preying on past clients who fared poorly in the real estate market, in large part due to the exotic loans they were sold, these same brokers now see a fresh opportunity with the vast number of people sliding toward foreclosure.

By simply changing their sales pitch to: “You got a raw deal. Now we can help you out because we understand your lender,” these firms are obtaining up-front fees as high as $3,500, but rarely producing any results. Despite making promises of relief to homeowners desperate to keep their homes, for-profit loan modification firms often fail to deliver, according to a recent New York Times investigation. There are currently more than 650 complaints filed with California’s Better Business Bureau against just one company in Los Angeles, FedMod. (…)

For most homebuyers, one of the first and most important steps in buying a new home is to get approved for a home mortgage. One of the first things a lender is going to ask you when applying for a loan is how good your credit score is. Having excellent credit (720 or higher) is very important both for getting approved for a loan and for getting the best interest rates available. Having excellent credit can actually save tens or even hundreds of thousands of dollars over the life of your loan by getting a more favorable interest rate.

This short video can tell you how to find out what your credit score is and provides some helpful tips on how to improve your score. Click on the following link to learn these useful techniques. (…)