Deleted.

Yes you are right it is opinion.  Just as what you say is opinion.  But its what I do all day.  Guidelines are guidelines.  I must conform to them no matter who calls in and asks for the mod.  The only difference is that I have no financial interest in the out come. 

Lolz...

if Justin only knew who this mysterious El Lupo was who he was disagreeing with...

Listen to the Lupo...  He knows more about mitigation than all of us put together.

Sorry Matty... I'm sure El Lupo knows what he is talking about, not trying to disregard his facts which are common knowledge. But just from what I've seen, not everyone gets the same results.

If I was wrong, why wouldn't every homeowner call and do it on their own? And why do many people go to a loan mod company after getting no where for 2-3 months on their own? I am not saying mod companies are a must and you can't get similar results on your own, I'm just saying not everyone will have the same experience or get the same results accross the board.

not true. i work for a mod co and we know exactly what banks are looking for. We can get homeowner a better term than they could do for themself, sometimes it doesnt matter who is doing the mod but sometimes can be risky going thru lender directly.

Comment with any questions

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Do you provide service in California? If so provide with all the paperwork etc. to get started. Pricing etc...

Yes Brian,

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just closed with beau

borrowers signed last week...and only paid a total of 2000 to do the whole thing

Finally, someone who tells the truth!

El Lupo speaks the truth.  Loan mod companies are just taking money from people who are too ignorant to call the lender themself.  Do your financial before you call the lender, make sure you have a few hundred dollar surplus, and then give your financial to the lender over the phone.  It's funny to see these loan mod companies call in & not know what is going on.  Many times they screw the financials up, delay the process, or tell lies which cannot be substantiated by proof of income or bank statements. 

ac delco:

Loan mod companies are just taking money from people who are too ignorant to call the lender themself.  Do your financial before you call the lender, make sure you have a few hundred dollar surplus, and then give your financial to the lender over the phone. 

I agree with others that loan mod companies can sometimes obtain better results if they are themselves in compliance and know what they're doing. I have seen cases where the homeowner has bene denied by the 1st level "loss mitigators" and haven't succeeded in even getting their situation reveiwed until after handing their file off to a loan mod. company who succeeded and got them a good modification.  Similarly some investors have failed when trying on their own, but succeeded when using loan mod companies.

That is not to say that homeowners cannot procure a good mod. themselves, but many will not have the knowledge base, experience, articulation and resources that SOME loan mod companies are able to employ for a successful mod. For example, if a homeowner could not show a few hundred dollars suplus, would you suggest they don't attempt it? What if, as in one case I'm familiar with, the homeowner was $1800. negative? They were denied 2 times before they were able to secure a satisfactory mod. working with a loan mod co.

Any reputable co. will assess the homeowner's situation first and only submit info that they can themselves verify before sending it in.

Your advice could end up costing some homeowners, in terms of savings, in the long run, and I would hope that if they did try a loan mod. themselves and were not successful, that they would seek the advice of a reputable loan mod co / attorney / loan forensics co, etc, (some of whom I am sure would be happy to give some free advice) if the homeowner truly wanted to save their home

before singing off,  I must concede there are many so-called loan mod companies out there that are just as you described - incompetant and untruthful - Just don't paint all of them with the same brush! 

Inquisitive:

Any reputable co. will assess the homeowner's situation first and only submit info that they can themselves verify before sending it in.

That's the key piece "any reputable company". Loan Mod companies are coming out of the woodwork (anyone else feel like they are run by the leaders of defunct lenders?) and many simply are money making locusts looking for the next hot industry to suck dry before it's regulated. It's sad but it's the truth.

Home Owners need to do their home work before they commit to using any company. And then make sure they fully understand how it's going to work and what they have to pay. There are more bad then good now and they know when you're in hard times it's an easy sell.

Clem Borkowski:

Home Owners need to do their home work before they commit to using any company. And then make sure they fully understand how it's going to work and what they have to pay. There are more bad then good now and they know when you're in hard times it's an easy sell.

Eerily similar to what happened before the mortgage meltdown.  This is probably the area that really requires the oversight right now, but since we are mostly a reactive society, nothing will happen for several years on a national level.  Once that happens, brokers won't be the target any more.  At least, we hope not.

i want to thank everyone who helped me with this.

Borrowers closed a while ago but just wanted to thank the community for helping me find Beau

We are a company who has been in loss mit/loan mods for 8 years right now and are currently accepting affiliates. We have been processing files for many large companies and are attorney backed and able to take NOD's and upfront payments in all 50 states.

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