Loan Modifications the latest booming biz

[The Cynic]

Yeah, who actually pays you anyway?

[Cedonulli]

OK here goes---I always look to the underbelly of everything. That way I dont jump blindly into shallow water.

Everyone and their dog, cousin and gas station jockey are trying to get into loan mods. You may think you are joining some big loan mod company and its only some dude who made a website and is hiring subs to bring in business. You can gett all the potential mods you need thru title companies, etc. A LARGE percentage of people in trouble are not able to have their loans modified. They do not fit the criteria. Not only that but some states are totally against this new ignorant cottage industry and are passing laws to stop or regulate it. Lenders themselves are starting to offer mods so they wont end up losing at short sales and FCs.

I see companies talking about 97 percent success rate but then find out they have only done 9 total deals. I see companies claiming to be overlooked by attornies but they have just hired some attys name.

If the company takes UP FRONT FEES or has no 100% money back guarantee, dont even talk to them. Id say go find a better more legit way of making money. This is going to dry up. Yeah we have another HUGE round of FCs about to hit. Go study short sales.

[stiv76]

The company we are with now does exactly that a forensic loan audit. The attorneys will look at your loan(s) on your home and tell you if you can find any violations in the loan which is pretty much the only way to get it modified.
The qualifying is a free service. If they can not help you then you pay nothing. Here is the website if you want to take a look Your Loan Mod Team

[LoanModSoftware]

The pay only if you qualify is a good business model. Very popular with customers.

[steve]

Right now all I am doing are Loan Modifications and I hate them for two reasons! It is true that they are in huge demand, but they have huge downsides.

1. The people who need the loan mods are broke and getting money out of them is next to impossible.

2. Also, they are labor intensive. It's not as easy as just doing a refi.

We charge 1495 for a loan modification. Pretty cheap compared to my competition. However, I can't wait to get away from them.

I got into the mortgage industry during the meltdown and have had to switch to loan mods to pay bills. Can't wait for the market to turn!

[Kristin Boarman]

We are looking for loan modification specialists that want to work with homeowners on loan mods through our exclusive real time leads progam

Kristin Boarman
443-603-1075
kboarman@ushud.com
USHUD.com

[usloanmodexpert]

You can be compensated for loan modification. Lenders are compensated unde teh MHA program. Borrowers are compensated in the form of a principal reduction if they remain current for 5 years on their plan.

[linkmanager]

Hello

What i know is a loan modification is when the lender modifies your current mortgage in order to work with you. The purpose of a loan modification is to help make your loan more affordable. Usually it is in the form of a rate reduction, principle reduction and/or a fixing of the rate for a certain amount of time.If anyone know more reply here

Thanks

[cdloanmod]

A recent report claimed that only 10,000 people have been given Permanent Home Loan Mortgage Modifications In Obama Program. With this lagging far behind the proposed 650,000 mark I think we can expect a n increase in loan modifications in coming year.

[LoanModSoftware]

As of late September the loan mod business is still booming. There is some pending legislation so not sure how that is going to change the industry.