Posts Tagged ‘Mortgage Marketing’

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 …