My criteria for declining a loan modification assignment

By
Services for Real Estate Pros with Mobile Notary Services

I just received a call from a signing service to do a loan modification.

I asked the caller to give me the name of the company handling the loan modification, and if I needed to collect any money.  The caller gave me the name of the company, and said that I would be collecting a cashiers check.

I told the caller that I can't do it.

That's my criteria: if I have to collect money from the homeowner -- NO.

I do loan modification signings as part of the work that I do as a notary signing agent.  I did one a couple of weeks ago.  It was through a well-established and reputable title company, and the loan modification agreement was coming from the borrower's lender.  There was no money to collect.

cash for loan modificatins - noBut I will decline any request to do a loan modification from a company that stipulates that the borrower has to pay an upfront fee.

 

 

 

 

Comments (3)

Michael A. Caruso
Surterre Properties - Laguna Niguel, CA

Good policy Leon. Loan mods are great if there are doen properly.

Please remember me if you learn of anyone moving to "The OC" and I will do the same!

 Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI

2007 President, Orange County Association of Realtors           

(949) 753-7900

  

May 04, 2009 07:12 AM
Leon Austin
Mobile Notary Services - Colorado Springs, CO
Colorado Springs Mobile Notary

Thanks, Michael.

 

May 04, 2009 08:22 AM
Maia Whitaker
Superior Notary Service | Allstate Insurance - Boulder, CO
Your Trusted Notary & Insurance Advisor

Good thing to think about, Leon.  I don't have requests for these to come up too often, but will keep this in mind.

Mar 28, 2011 12:39 PM