Direct Mail loan modification Mortgage Marketing -Brokers& Loan Officers IMG4business.com
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http://www.creditmoneymachine.com/ Credit repair Business Solution Software, incl. Debt Settlement / Negotiation , loan modification, Financial and Marketing capabilities
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Introduction to the process of mortgage loan modification.
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Dec
30
has anyone had any luck with loan modification with them i need to contact them and ask them if i can a get my loan modified, and how do i go about it without paying someone to do it for me.
They won't deal with a 3rd party "modifier". They will only deal with you. They will offer you a deal. Most likely they will allow you to go 6 months without making a payment. That money would be added to the end of your loan making it longer…. or added to the loan balance. The idea is for you to pocket that money and get ahead of your bills.
If you know that you need more help than that, ask them if they will consider a deed-in-lieu which deeds the house to them today. You don't want to lose the house but it gets the payments off your back..
Dec
30
has anyone had any luck with loan modification with them i need to contact them and ask them if i can a get my loan modified, and how do i go about it without paying someone to do it for me.
They won't deal with a 3rd party "modifier". They will only deal with you. They will offer you a deal. Most likely they will allow you to go 6 months without making a payment. That money would be added to the end of your loan making it longer…. or added to the loan balance. The idea is for you to pocket that money and get ahead of your bills.
If you know that you need more help than that, ask them if they will consider a deed-in-lieu which deeds the house to them today. You don't want to lose the house but it gets the payments off your back..
Dec
28
My email is brad@loanmodnet.com
phone 773-360-1482
My name is Brad Long and im an account executive who trains small community banks and mortgage lenders on our modification services. This video gives you some information on what we have accomplished for our home owners by giving you some examples. I am also giving you some examples of what type of situations might qualify as well. Not everyone can afford these modifications however we are very flexible with our payment structures where we can accept half up front and half when we have a resolution from your lender. I will pre qualify you virtually eliminating the risk ensuring your loan will get modified. My consultatiion is free and im happy to help you any way I can.
Modification - This is when your loan is restructured with your current lender. This option not only improves your credit, it is also the best way to keep your property. With this option, our goal is to significantly reduce your mortgage payment by achieving one or more of the following things:
Rate reduction
Rate locks
Principal reduction
Forgiveness of late defaulted payments
Tips for how to get your loan modification approved. What you need to know before calling for a loan modification or a Rate Freeze from your current lender. loan modifications are available to all homeowners.
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Dec
28
We bought a house a couple years ago in Texas. We live in this house. We are self employed and the economy had hit us pretty hard. We have not made a house payment in five months. Money is starting to come in again and we can now afford the $1200 a month, but we can not afford the back debt.
We called our mortgage company (Suntrust) and they told us we had to talk to a loss mitigation counselor. We received a letter stating the house will be sold on January 7th. The loss mitigation people are telling us we have to wait for them to call us before they can help. They say it takes up to 30 days to receive a phone call. Well, if we wait for them to call, the house will already be sold at auction. What can we do? They will not talk to us at all. We do have a HUD backed loan. We have called Hope Now and that did not seem to help. HUD has a wealth of information online about reinstatement, forbearance, and repayment plan options. We can not contact anyone to help us try to qualify for these options.
If we can not reach loss mitigation, what are our other options? We received a couple letters from lawyers regarding bankruptcy. The letters mention chapter seven and eleven. If we can save our house with bankruptcy, what is the best way? Any ideas on how to get loss mitigation to grant us some extra time so we can work for them? Thank you for all your help.
You may want to declare Chapter 7, but this means you would have to cease your business practices. Chapter 11, you can keep your business as long as you are able to arrange a payment plan for everything you owe. Many bankruptcy attorneys will do a free initial consultation and will advise you on which chapter to file and also WHEN. Timing is important. I lost my own small business last year and it saved us completely; just be sure you have some income you can live off of, even if it's temporary or PT temporary. I gave up on my business and went back to working for others — you just can't take risks now the way we could two years ago…Good luck!
PS - Bankruptcy does not ruin your rep forever; in about six months with hard work, you can restore your credit to something workable and also you will actually have an easier time getting people to lend to you once you've declared (since you can't declare again for another 10 years and you have no current obligations post-discharge). Of course, try not to borrow too soon or else you may find yourself in the same hole, only with higher interest rates!
Dec
28
We bought a house a couple years ago in Texas. We live in this house. We are self employed and the economy had hit us pretty hard. We have not made a house payment in five months. Money is starting to come in again and we can now afford the $1200 a month, but we can not afford the back debt.
We called our mortgage company (Suntrust) and they told us we had to talk to a loss mitigation counselor. We received a letter stating the house will be sold on January 7th. The loss mitigation people are telling us we have to wait for them to call us before they can help. They say it takes up to 30 days to receive a phone call. Well, if we wait for them to call, the house will already be sold at auction. What can we do? They will not talk to us at all. We do have a HUD backed loan. We have called Hope Now and that did not seem to help. HUD has a wealth of information online about reinstatement, forbearance, and repayment plan options. We can not contact anyone to help us try to qualify for these options.
If we can not reach loss mitigation, what are our other options? We received a couple letters from lawyers regarding bankruptcy. The letters mention chapter seven and eleven. If we can save our house with bankruptcy, what is the best way? Any ideas on how to get loss mitigation to grant us some extra time so we can work for them? Thank you for all your help.
You may want to declare Chapter 7, but this means you would have to cease your business practices. Chapter 11, you can keep your business as long as you are able to arrange a payment plan for everything you owe. Many bankruptcy attorneys will do a free initial consultation and will advise you on which chapter to file and also WHEN. Timing is important. I lost my own small business last year and it saved us completely; just be sure you have some income you can live off of, even if it's temporary or PT temporary. I gave up on my business and went back to working for others — you just can't take risks now the way we could two years ago…Good luck!
PS - Bankruptcy does not ruin your rep forever; in about six months with hard work, you can restore your credit to something workable and also you will actually have an easier time getting people to lend to you once you've declared (since you can't declare again for another 10 years and you have no current obligations post-discharge). Of course, try not to borrow too soon or else you may find yourself in the same hole, only with higher interest rates!