The Better Business Bureau is warning you to be careful of any business endorsements that come through the Nationwide Business Bureau. While it sports a similar name, a BBB investigator says the Nationwide Business Bureau is a for-profit business that allows businesses with shady reputations - many of them home loan modification services - promote themselves as reputable companies.
But nothing could be further from the truth, according to Bill Smith.
While Smith says it is unclear if the bureau is affiliated with any of the loan businesses, or simply gives them a good review in exchange for payment, you should examine any loan modification company very carefully. One of the most important things to remember, according to Smith, is that for the past several years it has been illegal for a business to accept upfront fees on promises that it would modify loans.