My philosophy on Loan Modification… “Cheat me once, shame on you. Cheat me twice – SHAME ON ME!”
Do you really want to use one of those former sub-prime brokers for ANYTHING? Do you really want to pay for a “forensic audit” when you just need an application filled-out and some advice? No, don’t try to pay your way out of this one. You might as well flush that money down the toilet. Mortgage Modifications are better done yourself with insider information to make it good and fast! Here’s why.
1. You Already Have Help
A ton of tax money has gone toward helping homeowners get mortgage modifications. Lenders and the federal and state agencies involved have staffed and contracted to make the process easy and readily available to you. Dozens of community-based non-profits have staffed to meet the challenge. Also, many first-rate private companies (such as the Collection Agency Resolve Corporation and the debt counseling company Greenpath Debt Solutions) have contracted with the lenders to facilitate the process. Some of these resources are truly helpful.
These well-intentioned organizations are, for the most part, helpful. That’s the good news.
2. No one Loves You more than You?
Not the non-profits – Like most government or bureaucratic efforts, the non-profits provide way too much information and no tactics to benefit you! If you want to write a term paper on mortgage modifications, you’ve hit the mother lode. If you want to get a winning mortgage modification, it’s better to look further.
More troubling, these organizations owe allegiance to lenders as well as homeowners. They’re charged with reaching an equitable settlement.
I don’t know about you, but that’s not the type of backing I want in my corner! You need insider advice on how to win! You want advice that is unabashedly aimed at getting YOU the best deal – fast.
Not the Lenders - The lenders are clearly your adversaries. Not in the sense that they want to thwart your efforts, but they try to get you to accept the best deal for them. After all, the “Loss” part of the “Loss Mitigation Department” does not refer to YOUR loss!
Not the for-profit loan mod companies! For-profit loan modification companies are in it for the money. They maximize the number of clients they start and minimize the time and expenses spent on each one. Many of these companies are out-of-work former sub-prime loan brokers.
Loan mod firms botch loan modifications all the time by:
- Dropping the ball on follow-up
(They’re mainly concerned with new customer acquisition.)
- Sending out hack form letters
- Accepting the first offer the bank throws out
- Revealing damaging information to the lender, even without the lender asking for such information
There’s no shortage of new and interesting scandals produced daily by this new industry. Google for a recent one in your neighborhood!
Lastly, none of the lenders, non-profits, or loan modification companies take much of the work off your plate.
Relax, it’s not Rocket Science!
The process is simple, though it’s not easy. With our experience to guide you, you can submit a powerful application in as little as 60 Minutes. You CAN do it and you SHOULD do it.
You Can Make it Personal
Business is personal – people to people. You’ll be more effective if you understand that and work with people.
After all, the clerks and customer service representatives, negotiators, and supervisors you’ll contact are folks just like you – working blokes – with mortgages of their own! Connect with them if you can. Not only will it help your cause but it will also make the whole process more pleasant.
Your personal involvement in your loan modification will speed the approval and result in a better financial deal for you. Just like any DIY project, with good plans and good tools “you can do it, and we can help!” Let’s modify something together!
Mortgage Modification Questions?
