Mitigation Company

[Mike]

Hello, I'm trying to find out if I should consider a phone solicitor call I received from (Name Removed). The call was unsolicited and offered to handle a loan modification with Select Portfolio Service.My situation is as follows: I was in a variable rate 3/1 arm after I took 40K in equity leaving 20% untapped in the house as I was retiring out of the military and wanted to pay credit card debt off. I was going to be a full time college student for several years and would have to live on the cards til I graduate till then (In nursing school and graduate may 09). Rate went up last dec to 11.5% and was strugling to pay note. Finally called S and P and told them they could have the house back if they didnt come down in the rate They did a loan modification and brought it back to 8.5% and thats where its at now. My questions are: 1. Has anyone heard of (Name Removed) located in south florida? 2. And should I even try to remodify the mortgage as S and P has allrady given me one. I can barely afford the mortgage now but I graduate in may next year and income will go up. Also the house was appraised last Feb, for 150K which is what I owe on the house, but then the refinacing fell thru because they devalued the house to 140K stating there is a 6 months glut of housing in pensacola Fl. Thanks for any help