Loan Modification Part 1

To do, or not to do? To pay or not to pay? Now that’s the question?

Some people are going to hate me cause of this article, but it have to be done enough is enough!

After I had finish writing this I emailed my wife, to get her opinion, she asks me why am I writing this? I got a little upset and reply, “Why am I writing this? You act like you don’t know me? HELLOOOOO! It look like everyone is an expert on loan modification now days, they even have books to prove it, and a small fees to teach you how they do it. I’m sick and tire of decent people getting rid off by this MOTHER FLOWERS.” Of course she laugh, my question to her was, if this people need help why can they get it for free?

This topic came up in our last seminar and it got me really, really f@#$% upset. Long story. It took some time for me to come down and start writing this. My company only done a few of this to help a few home owners not to lose they homes, it has being my experience that the bank are willing to work something out, isn’t that the purpose of a loan modification?

When I first started researching to help our clients there was not one mortgage or real estate professional that was offering loan modifications assistants for free. I did found an eBook entitled “The Mortgage Relief Formula” this book walks you through how to modify your loan, saving costs and headaches of false promises of loan modification companies. I read the book and was highly impressed (which it is hard to do) with some of the ideas expressed in it. I am not an affiliate of the book; it is a great tool to use.

Now that the subprime snake oil is gone, it looks like the new oil of choice is loan modifications. Baster stop charging people for this…sorry is me getting upset again.

Ok, there are good hearted people out there that are doing the right thing and helping people out even though they charge a fee, just be careful and research the heck of the company and individual.

Loan Modifications are beginning to be a very trendy financial tool in the U.S. This is so far a few explanations: Home prices are dropping, so this is causing people to see themselves in situations were the value of they home are lower than what they still owe. Yet many home owners have found themselves in difficulty because they have chosen loan modification companies with no real expertise. Remember this just starting happening about 2-3 years ago and loan modification didn’t actually came to place into late 2008 or earlier 2009. How much experience will anyone have on this field?

Most of these companies are composed by the same mortgage brokers that gave them the crazy home mortgages that putting were they are today.