Posts Tagged ‘Dec08’

Real Estate & Mortgage Marketing 7 – Home Loan Modification Dec08 Attorney Negotiated Loan Mod

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Home Loan Modifications Negotiated by Licensed Attorneys. Real Estate & Finance Laws and Guidelines are Complex. Beware of the Banks Loss Lessening Department. Go To RealEstateMarketingThisWeek.com Part 7 (Excerpt) Attorney negotiated loan modification process Going thru the Legal Door We have Dan Havey with us talking about loan modifications. This segment we want to talk about the specifics of the real mechanics of, how does it really work for the homeowner? Let me just start it off and if you would then give reasons for the back end of how it works. Our job is to determine where you’re at now, be very point about where you’re at with your finance now, what the rate is, what it’s done, those specifics. How much you make? We have to help the lender with one thing which is to set up a hardship which is crucial to this. You can’t be making half $1 million a year paying $5000 a month in a finance, they are not just going to decrease your interest rate because you want it. There really has to be some sort of change, financial change, hardship. We determined that and then there is a noteworthy amount of paperwork involved, Velocity Financial takes care of that for you. We fill out the paperwork along with your help, review all of the documentation, we then recommend be right loan modification, whether it be an interest rate reduction, or extending the term of your loan, waiving some of the balance that you owe which is very very rare. To make sure that once we’re done …

Real Estate & Mortgage Marketing 4 – Home Loan Modification Dec08 Beware the Foreclosure Sharks

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Home Loan Modifications Negotiated by Licensed Attorneys. Real Estate & Finance Laws and Guidelines are Complex. Beware of the Banks Loss Lessening Department. Go To RealEstateMarketingThisWeek.com Part 4 (Excerpt) The pitfalls for trusting your bank one more time; Beware The Foreclosure Sharks This whole loan modification thing reminds me a lot of the ancient Peanuts comics where each fall Lucy would get out with the football and she would set it down on the ground, and she would coerce Charlie Brown into coming along and kicking the football. Well of course as we all know Charlie never got to kick the ball, Lucy always pulled it out from underneath him and I kind of look at the finance industry, the servicing end of it in particular that way. You have to reckon about it, in many cases the loan that you were place into was not a excellent loan in the first place. The person who gave you that loan knew it was not a excellent loan, the Wall Street banks that came up with these crazy thoughts should have known better. Now admittedly they didnt otherwise they would not be out of business today, but they should have known that these were not excellent products. Yet when you are faced with an issue regarding your house so many people go back to the bank, like Charlie Brown going back to Lucy and believing that THIS time Lucy is not going to pull the ball away. Well what is going to keep the bank from not pulling the ball away from you this time? Absolutely nothing. I like that analogy; everyone …

Real Estate & Mortgage Marketing 1 – Home Loan Modification Dec08 Licensed Attorney to Negotiate

Home Loan Modifications Negotiated by Licensed Attorneys. Real Estate & Finance Laws and Guidelines are Complex. Beware of the Banks Loss Lessening Department. Go To RealEstateMarketingThisWeek.com Part 1 (Excerpt) Why you should use a licensed attorney to negotiate your loan modification Dan Havey thanks for taking the time to be with us tonight. Thank you Michael for having me and you are absolutely right 2008 for many people was a very tough year. Tough year for pretty much everybody that I know, how many banks have we lost in 2008? Hopefully the bleeding is gone; hopefully there arent too many more banks to fail. Quite a few banks have picked up some of the slack, but the reality of it is so many people have been faced with such hardships, we have solutions that we are possibly going to talk about today that they can look forward to, to make 2009 a fantastic year. Certainly that is what we are doing here with your organization at Velocity Financial and with the Modification Hotline and with many of the other things I am working on right now to help people out. When I first got into this business it was back in the late 80s, I stirred here from Wisconsin after getting a degree in finance and I started promotion repos for Fannie Mae, Countrywide, and the RTC. The Resolution Trust Corporation was responsible for getting rid of all the real estate owned by the over 1800 S&Ls that failed. So I cut my teeth promotion those reposed properties and got to know a lot about the laws and …