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Steinlaw, Lawyer
Category: Consumer Protection Law
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Experience:  Consumer law attorney, author of California Debt Blog, top foreclosure attorney
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What do you know about CPAC, Are

Resolved Question:

What do you know about CPAC, Are they legit? If a mortgage loan is refied without the balance being reduced, is it a hit on my credit?
Submitted: 6 years ago.
Category: Consumer Protection Law
Expert:  Steinlaw replied 6 years ago.
Its good to ask these questions before you get involved.

In California, SB 94 prohibits anyone from taking money up front for a loan modification. So remember that before you start.

CPAC does have a good record. Is everyone happy? No. But they have helped people. Talk to them in detail to make sure they can help you.

If the loan is refi'd, there is no hit on your credit. If you receive a modification, you need to check to make sure that your payments are applied to the balance and they don't hold it in a suspense account and report you as late.

Good luck.
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