Upside Down Mortgage

Posts Tagged ‘process’

Mortgage Modification Process

Question: Looking for advice from Mortgage Brokerss. I'm new to the industry.?

I'm working for this loan modification company all the other employees were previously mortgage brokers. I can get a lot of people to apply but I can never get them to complete the process. My boss keeps telling me to follow up with the applicants. I call them and ask them. Did you get the paper work did you have any questions outside of that I don't know what to say. I don't know what he means by follow up. I don't work in an office I work from home and my boss talks to me like I should know what he means and I don't. I'm supposed to call them and say what?

Answer: Your boss is looking for you to follow up and "close" the deal. Find out the who what and why of your clients. If they have received the information why haven't they sent it back? What is it that is holding them back from pulling the trigger? Who is the decision maker and are you in contact with them?
Hope that helps.

Mortgage Modification Process

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Mortgage Modification Programs

Question: Why is it most Mortgage Lender's cannot offer a modification?

Fannie Mae and FHLMC excluded. Talking about the subprime and alternative programs. The answer I am told will get you out of foreclosures I am told...

Answer: What? Let me see if I understand. A mortgage lender offers a product, a loan package, with certain terms and conditions. The lendor will borrow the money from one source and lend it to a consumer. The consumer accepts the deal. The deal is made. Now you want the lender to change the terms? Why should they?

Mortgage modification program - Mortgage Modification Program

Mortgage Modification Company

Question: Does anyone know of a reputable Mortgage loan modification company ?

I am seeking a loan mod company to help us save our home. Its been a rough year and its past me now but mortgage company wants unaffordable payments up front. I can pay them the regular amount but they want to much up front that I cant afford so I just would like to hire a good company that can help with this I checked with one but they want 3,000 dollars. If I had that much money laying around I wouldnt be in this situation but am willing to pay if someone thinks it can help me. I hired one but all they did was get my personal info and 200.00 down and never heard from them again. Please I ask you dont send me mean or nasty e mail as times have been hard enough and just recovering. Thanks

Answer: You can handle this yourself. Call your mortgage company and ask for a Moditication Package. They will mail it to you, there is nothing a company can do that you can not do yourself. Expect to have to provide a lot of documentation, as you need to prove you need a modification in the first place.

Los Angeles Loan Modification Company - Loan Modification