Posts Tagged ‘Velocity’

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 …