It is so important that everyone in the housing industry get involved with helping people save their homes. It is a business venture, but there is nothing wrong with making money while helping people. We already do that when we help them find the home they want, get the loan they need, and sell their home profitably.
We also need to understand that while helping people save their homes that we have compassion. If it is difficult for them to pay the fees, we should still help them. This is not always going to be the case, and when we do the right thing, it makes us feel good about ourselves. We need to always be mindful of the Golden Rule.
When a client's payments have gone up because of a bad loan, we can help. Currently, we are seeing the values going down below what is owed on the homes, and that makes it more difficult when clients try to refinance out of a bad loan. They really need help from experts who know how to navigate the complicated field of loan servicing.
Loan servicing departments are overworked and under paid. When trying to talk to borrowers who really do not understand what is going on, they seem to be unable to help them. That is where the experts can provide the help needed.
I also recommend that people in these situations check out www.hud.gov for advice on what to do. They can take advantage of loan modification services from firms who offer the assistance for no fees or cost.
What is important is that borrowers understand that they need to take advantage of loan modification services before they consider short sales. bad loans (hard money), or bankruptcy. Those are permanent and negative solutions that the borrower cannot reverse once the decision has been made. The most important thing for the borrower to do is to take action as soon as possible to alleviate disaster.
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