When I needed help with my mortgage modification I was referred to M E Ludt’s services. I was told by the representative that it could take up to 6 months but felt that it was very possible. I decided to continue with their help and agreed to pay 800 a month for their services. I was told that I should stop paying the mortgage in order to pay them as it would all workout at the end of the process. I felt uncomfortable about this however they are the lawyers. I did so. I spent 4800.00 over a 6 month period. After 6 months of non payments I recieved notice that the my bank was foreclosing on my property. I spoke with the bank and their lawyer and was informed that they had indeed been in contact with a person from M E Ludt, but minimally. they did not feel that this company was working to my best interest. I had been in contact with M E Ludt throughout the process and was always informed that they were working on it and things were in process. I later found out that they were not doing all that they could to get this done. Whenever I was asked to get paperwork to them on our loan I did so when asked. However the bank told me that these documents were not given to them on time and were constantly late when they needed them. Like any product that you purchase at a store, If it doesn’t work or is defective you can usually return it for a refund. However this product you can not. I did not feel that the effort that was needed was taken. I had to take out a loan for 21,000 to keep my house from going into foreclosure putting me further into debt. I contacted M E Ludt and even sent an email to Matthew Ludt (the owner of the company) asking for at least a partial refund of the money I sent to them and never heard back from them. I have researched this matter further and found that most companies that represent modifications don’t request money until the process is over and it usually comes from the amount saved from the bank. Their help did nothing for me but put me further into debt. and I was told that because they were a local bank they were unwilling to modify the loan however if it had been a major bank they would have been more likely to help. I spoke with the bank later and was informed that I could have modified it through them had I tried. But I did several times and was refused everytime.
Stillwater, Minnesota United States of America
Real Estate Services