Upside Down Mortgage

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Loss Mitigation Company

Question: How can I meet Real Estate Professional so that I can introduce them to a new income stream?

The services my company offers includes, loss mitigation, hard money lending, property investment opportunities, commercial and residential loans.

Answer: Most realtors will happily listen to any pitch that claims to increase their income, since most realtors make less than $25K per year. Just pick up the phone and start asking for appointments.

You could even call the manager of the office, and ask to make a presentation to lots of their agents at the same time. If you've got a real way to let them make more money, they'll find a time for you.

Latest State Requiring a License to Do Loss Mitigation Work

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Loan Modification Company Reviews

Question: Adjustable Rate Loan Modification?

The lock on my loan has expired and my mortgage has gone up! (obviously) I spoke to my mortgage company and they offered a Loan Modification. They told me that the rate that they come up with will remain the same for the life of the loan! Well my loan has been processed and is currently under review? Is this a good idea? I have never had any problems with lates payments towards the loan! Please help?
Is there a good chance of getting the loan modified! Any ideas?

Answer: i recently got a loan rate modification. this is NOT verbal on the part of the bank, their offer should be in writing to you, and you have to sign it in the presence of a notary. there is a fee for this, mine was 1 point. if its a much lower rate, and its fixed, and you pan to stay in the house for a few more years, it is probably worth it. i saved 130 a month off my mortgage payment. you need to move fast because the offer will probably have an expiration date

DJ TIESTO CLUB LIFE PODCAST 79 MUSIC VIDEO (premiere)

Loan Modification Versus Foreclosure

Loan Modifications with Bad Credit

 Loan modifications are the perfect way for distressed borrowers to solve a delinquent mortgage problem.

Even if you have late mortgage payments, collection accounts, liens, judgments, or any other derogatory credit you can qualify for a loan modification.

Most homeowners in need of a change in their mortgage terms immediately think of a traditional refinance. However, many distressed borrowers cannot refinance because they do not qualify.

As most people know there are many qualifiers to be able to obtain a refinance of an existing mortgage. These qualifiers do not apply in the same way when it comes to a loan modification.

Some of those qualifiers are:

• Good Credit
• Equity
• Employment
• Income

CREDIT

The beauty of a loan modification is that since you are working with your current lender who is already invested in you and your home the criteria are far less stringent.

The toughest mortgage qualifier for a borrower who is behind in payments is credit. When it comes to a loan modification your credit is not analyzed.

EQUITY

In today's tough real estate market property values are plummeting. Many homeowners do not have the equity required to refinance. Remember if you are financially upside down in your home, your lender is too. Your current lender will not have an equity requirement when it comes to modifying your loan.

EMPLOYMENT

When it comes to employment, the normal mortgage requirements again do not apply. When applying for a new mortgage a lender will require a minimum of 2 years on the same job. In regards to a loan modification, the only requirement will be proof that you are indeed working.

INCOME

Income is also an important qualifier in the mortgage process. Although income is still a big consideration in a loan modification it is not considered in the same way as it is when applying for a new mortgage. Qualifying for a loan modification is simply a comparison of your expenses versus your income. If you can prove that you can pay your mortgage at a certain payment per month then the lender will modify your loan.

Always remember banks do not want to foreclose on your home. They take huge losses on foreclosed properties.

If you are behind on your mortgage, loan modification may be the perfect solution. Many a distressed homeowner have negotiated a loan modification and saved their family home from foreclosure.

You can too!

DAN HARRIS - ALL RIGHTS RESERVED 2008

About the Author:

Dan Harris operates Harris Capital Management and Mobil Settlement, LLC in New York and can provide detailed information on , Title Insurance Issues, Mortgages, New York City Real Estate, Loan Modification & Loss Mitigation and more.

Dan is available for seminars and speaking engagement.

He can be reached at LoanModBook.com, CashDan.com, and MobilSettlement.com

Article Source: ArticlesBase.com - How to Get a Bad Credit Loan Modification

Loan Modification, Short Sale or Foreclosure