In many ways, the economic crises has been a result of the downward spiral of human decency. Call it greed if you want but some people are not behaving intelligently in the quest for money. First consider the subprime mortgage sharks that helped get us into this mess and now consider the loan modification animals that are full of their own scams. And the story is so familiar.

They are targeting vulnerable homeowners who are in crisis mode and need the most help. Sometimes this results in people losing even more money and not getting the help they deserve. Because of this, federal and state regulators are calling for additional oversight to prevent further problems.

Specifically, some states like New York are calling for lower upfront fees, which can approach 1 percent of total mortgage value.

So the issues lies with people in the poor house. If you spend 3 thousand dollars of your retirement money, then you will be upset if the loan modification does not go through. On the other hand, if it saves your home, its well worth it. As with anything research is key. And the truth is, most people come away happy with the loan modification process. But there are some companies that are trying to take advantage of desperate people and apparently a system that could use some tweaking.