Loan Mod Educational Webinar link: www1.gotomeeting.com/register/406024600

Educational webinar on June 18th
1pm to 2pm PST
“What is a loan modification and does this work for investors?”

What is a Loan Modification?
A Loan modification is the restructuring of mortgage terms to meet the current situation of the homeowner.

This agreement can be negotiated directly by the homeowner but the results are usually poor. Banks do not have the time and resources to negotiate a loan modification with every homeowner who decides to call.

The truth is that lenders have so many people currently in default on their home loans that they may not even talk with a homeowner until they have gone late on their payment or are in default. By this time it may be too late.

Federal and state governments are placing enormous pressure on lenders to negotiate with homeowners who want to save their homes. This market is exploding as more homeowners realize that there are other options available to them when facing the loss of their home.

“At least 7.5 million Americans owe more on their mortgages than their homes are currently worth, according to a real estate research firm’s report released Friday. In other words: If they sold their homes today, they’d have to bring a check to the closing. Ouch.

Another 2.1 million people stand right on the brink, according to the report by First American CoreLogic. Their homes are worth less than 5% more than the mortgages they’re paying on them.”

Learn if Loan Modifications are right for you…
Join our webinar www1.gotomeeting.com/register/406024600

Who Qualifies for a Loan Mod?
Nearly every homeowner who is experiencing a hardship and has a true desire to save their home, qualifies for a loan modification. This can be a one time permanent solution to a serious problem. It is not a short term fix or a temporary solution.

A homeowner who qualifies for a loan modification usually fits into these four categories.

1) They must have a genuine hardship. This can be a loss of employment, a rate increase, a decrease in property value, or other situation which makes it difficult to make their monthly payments. Talk with your clients and “Explore Their Pain”

2) They must have made the decision to save their home. They have to be sure that they want to absolutely save their home and will continue to stay current on the new monthly mortgage payments.

3) They must be able to afford the terms of the new modification. They must be able to stay current with the terms and payments of the newly modified loan.

4) They must be able to afford the modification service. A client may need to put something else behind this month to pay for the loan modification, however we NEVER advise that they skip a mortgage payment.

A Loan Modification is available to investors but I will be honest – it is difficult to qualify. Banks are more likely to work on a loan for a personal residence but let me state this,” It is not impossible.”
I know you have heard the horror stories of people being ripped off. It has even been featured on 60 Minutes. Loan Modification is a valid process but not everyone is qualified to perform a loan modification. Several of the brokers that got people into the bad loans in the first place have jumped on the band wagon and now state they are qualified to perform a Loan Mod. The truth is they must follow strict guidelines set by The Department Of Real Estate. I looked on the DRE list and was amazed how short the list was compared to the 1000’s of people who advertise that service. It is so important to do your homework before handing over any money.

What to look for:
Are they on the DRE list which is posted on their website?
If they are a broker are they in good standing?
Is the work being performed by an attorney?
Is the attorney in good standing?
Are there any complaints against them?
Check with the Better Business Bureau?
Google them and see of there are any complaints on line.

MOST IMPORTANTLY do not pay any money up front. A company should offer a free review/audit to see if they can even help you and offer some type of refund if during the process they determine they can’t.

Let our attorney, past president of the DRE and a real estate attorney, help you with your loan modification. We evaluate your file for free. If your file is accepted we have a 95% success rate.

Email us at loanmod@theforesthillgroup.com or call 877.281.6643
Why use us? We can get you a DISCOUNTED Rate!

For this months F*R*E*E* Educational Webinar
Learn if Loan Modifications are right for you!

Thurs June 18th
1:00 pm to 2:00 pm PST
www1.gotomeeting.com/register/406024600
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To your success,
Lisa Marston, President
www.theforesthillgroup.com
877-281-6643