My-Story: Loan Modification Secrets

I’m a California homeowner, father, and real estate professional. I grew up in the Twin Cities region of Minnesota and went to school outside of New York City on a hockey scholarship to Hamilton College.

With over 25 years experience running both large and mid-size companies, the recent real estate slump of 2007/2008 literally pulled the rug out from under what seemed like a series of extremely smart, strategic real estate deals.

I’ll be honest with you: I was depressed!

Like many Americans, I owed more on my house than it was worth (with less-than-favorable terms), and to make things worse, I’d picked up 4 more properties as investments that were even more screwed up than my primary residence.

I was struggling:

For nearly 6 months, I struggled to choose between bad option number 1 (foreclosure) and bad option number 2 (short sale)… and then came loan modifications!

In case you didn’t know, banks are modifying loans by the thousand every single day!

In 2008, all the rules changed when the government responded to Main Street’s plea for help and started subsidizing mass bailouts not just for the Wall Street fat cats-but for average people like you and me.

So I went to seminar. I called half a dozen lenders. I read through volumes (not exaggerating) of government documents, and eventually I modified 6 (count ‘em!) of my personal mortgages. That includes 1st mortgages, 2nd mortgages, investment properties-and even 2nd mortgages on my rentals!

Despite my success, people still tell me it can’t be done, but I just have to laugh because my new system makes it so darn easy, that I’m kicking myself for not doing this sooner, and my clients are getting even better results than me!

There’s popular saying that says, “You can’t go back and change things… the past is the past.” With mortgages, right now, that couldn’t be further from the truth. How about a 6.25% rate dropped to 4.25%? How about a monthly of $4,600 dropped to $3,200?

I did it, and so can you!