foreclosure rescue: Mortgage Modification Originators: Here Comes The FTC
- 05/17/09 07:20 AM
How many phone calls have I had over the last 12 months from "mortgage modification companies" promising thousands of dollars to me if would have my loan officers refer to them people who could not refinance but were in trouble. I said no, every time. Sometimes I had some laughable conversations with the people calling. Why did I not want to get involved? (A) I'm a lender and have my own business I need to focus on. (B) Because I knew better and I knew this would be a headline in the very near future: "Federal and State Agencies Crack Down … (52 comments)
foreclosure rescue: Don't Face Foreclosure Alone - What To Do Now
- 10/03/08 05:30 AM
Unless you are facing or have faced foreclosure you may be astonished at what people go through - and leave behind - when they are facing foreclosure. To get an idea watch this short video then come back here. If you are facing foreclosure there are so many things you can do. First you can contact Project Hope Now. It's a consulting group which will point you in many directions and even give some very good advice. They are a not-for-profit organization and you can get them at http://hopenow.com or by phoning 888-995-HOPE (4673). When facing foreclosure people have a tendency … (2 comments)
foreclosure rescue: The Chicken, The Egg, The Modification and the "Certified Loss Mitigator" (cluck-cluck)
- 08/13/08 05:35 AM
A modification is when the borrower or a professional consultant submit proof and evidence to the existing lender that the home is less valuable than the payoff and/or the rate has adjusted and the client can no longer meet the obligation and there is zero or negative equity in the property due to bad lending practices or a declining market - and the lender agress to change the rate and/or terms of the existing loan. Many people claim to be "certified loss mitigators" but there is no industry designation by that title. Real loss mitigators work for the lender and mitigate … (5 comments)
foreclosure rescue: Never Deed (Quit Claim) Your Property To Avoid Foreclosure EVER
- 01/19/08 09:54 AM
Listen folks, there are sharks in the water. Investors are coming out of the woodwork looking for people who are facing foreclosure so they can take advantage of them. There are many, many reasons you should never quit claim your property to ANYONE else EVER. Here are just a few. 1. The reason you are facing foreclosure is probably because you haven't called your lender to ask for help. Not the servicer - that's a collection agency. Call the LENDER. Can't find the lender? Call a TITLE AGENT in your area and ask them to find the lender for you. Trust me, … (14 comments)
How many phone calls have I had over the last 12 months from "mortgage modification companies" promising thousands of dollars to me if would have my loan officers refer to them people who could not refinance but were in trouble. I said no, every time. Sometimes I had some laughable conversations with the people calling. Why did I not want to get involved?
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