That sounds like the basic arrangement that most loan mod/foreclosure attorneys use. It is not uncommon for people to live in their home without paying their mortgage for a year or more while working out a loan mod.
THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual legal advice can only be provided after consultation by an attorney licensed in your jurisdiction. Answering this question does not create an attorney-client relationship or otherwise require further consultation.
BEWARE ! This sounds REALLY fishy.....What is a "mortgage fraud analyst" ? There are all sorts of people looking to capitalize on the current foreclosure crisis in Florida, most of which are scams. No one who is not an attorney is even allowed to give you legal advice - that is a felony.
Please see my Legal Guide, Foreclosure Defense Attorneys vs Foreclosure Consultants
The Office of the Attorney General is working nonstop on this situation. While they include there a list of scammers they are actively pursuing, if this "consultant" is not listed on the website, he/she may still be under investigation. The problem in Florida is so enormous that the AG's office is struggling to keep up.
What you need is to find a legitimate consumer defense attorney who is knowledgable in foreclosure defense litigation and bankruptcy law, as these days some of the most promising options for mortgage modification may lie in Chapter 13 proceedings. Check the web site of the National Association of Consumer Advocates, www.naca.net
, and someone out corralling people for an attorney hiding in the background is