I'm not sure what the qualifications are....and the cost.

I have a borrower who is upside down...hasn't been late.

248 balance....house is worth 230k

Has like a 9% interest rate....

ARM will adjust May 2009

NC

Robert:

I'm not sure what the qualifications are....and the cost.

 

I have a borrower who is upside down...hasn't been late.

248 balance....house is worth 230k

Has like a 9% interest rate....

ARM will adjust May 2009

NC

Robert...find Beau's thread about this...he is offering free advise on this and may benefit you and your clients.

Seems like there are even more loan mod companies than I thought there would be.  It would be cool to start a thread that compares a few of the usual suspects, but I suppose until anyone else gets on here that does Mods, it's Beau's market!

I do mods but I am going to advise seeking Beau for now too. After all, he was the one who helped me get comfortable in this business in the first place! I will only be here for a couple more months so I don't want to start building up business here.

More than likely I will continue to do Mods part time while going to school, and if that is the case, Beau is the only other company I would consider working for!

Beautee ful!

Hey Robert, I am an affiliate of a nation wide network of attorneys that do loan modifications and short sale negotiations.  These guys swing a pretty big bat, there are alot of companies that utilize attorneys to negotiate with the banks legal departments and I am sure they do a good job, but after alot of research on my part, I decided to align myself with this group, Debt Advisory Alliance.  I would be happy to do a free consultation for your clients, and I can give you all the details that you might need first.  My email is ethan@ethanbrizzi.com, send me an email and we can chat more.  Look forward to talking to you soon!

Ethan

I know Ethan.  He's a cool dude!

i just finished talking with Beau.

looks like i'm going to send them his way

sent him two...will let you know how it goes

let me know hows it goes as well Robert as I have a few of these sitting here on my desk.

he denied one..and accepted the other.

I have already been blessed on it.

I put my feedback on BO, and on his thread here on WND

I am doing a couple with beau right now.

let us know!

Beau charges very low compared to everyone else

I've been an affiliate of a loan mod company that claims all the same things... They have attoneys do them, charge me high fees, take forever, ect...

I have a good friend that has been working in the servicing of loans for a couple years.  He's main job now, (still working for same company) are loan mods.... He says anybody can do them.  I'm having him do my loan mods now.  I have a 100% money back guarentee, and our fees are what ever you feel like charging.  The processor is making a split based on percentage, so if you charge $500, he would make like $150.  If you charge $1000, he would make $350.  We're still working out kinks, but it seems to be working well.  We're talking about taking it to the next level and start marketing and calling people in all 50 states. 

Looks like I made the move a little early!

Justin Alexander:

I do mods but I am going to advise seeking Beau for now too. After all, he was the one who helped me get comfortable in this business in the first place! I will only be here for a couple more months so I don't want to start building up business here.

More than likely I will continue to do Mods part time while going to school, and if that is the case, Beau is the only other company I would consider working for!

What about compliance? Liability? If you are taking someone's money to do a service, you might want to consult a lawyer first. I'm not knocking you. You and everyone else has every right to earn money and provide a service correspondent to that.  But, a couple words of advice...make sure you know what you are doing, make sure you are doing it legally and make sure you don't get in over your head.

Just because anyone can do a loan mod doesnt mean anyone should.

Hi Jacob,

I would like more information about the company you reference regarding loan mods (i.e., name, years in business, services offered, etc.)

Thanks.

Lyn

ADMIN NOTE: Do not solicit in this forum, READ THE RULES.

I do loan MOD's, Stips and short sales all day long.  One thing of note.  It does not matter if its the borrrower or a third party or even an attorney.  The same rules apply.  The customer will get the same terms anyone else would calling in on the same loan.

That is entirely opinion, not fact. A 3rd party certainly can get better results than the homeowner can on their own. Homeowners will call in and they may get something worked out, but keep in mind they are negotiating with a lender who still has their own best interest at heart. Most homeowners do not have the TypeA personality needed to negotiate more than what is initially offered.

I have seen a few people who got mods on their own, but the payment was only reduced by $100-200 for 12-24 months, and they were either still struggling or would not make it once the term is up. Sure enough, they were able to get MUCH better results by going with a mod company.

Mods can be obtained by anyone, but to think everyone gets the same results accross the board is a very bias opinion. If your statement were true, why are there thousands of homeowners who call in and get no where with their lender/servicer (no results at all), but then go to a mod company and come back with a successful modification?

El Lupo:

I do loan MOD's, Stips and short sales all day long.  One thing of note.  It does not matter if its the borrrower or a third party or even an attorney.  The same rules apply.  The customer will get the same terms anyone else would calling in on the same loan.