You are at, www.garyjamesblogs.com
There is a way for Mortgage Brokers and Loan Officers to legally help their clients save their homes, businesses, and credit worthiness.
We now live in an era of time that can be arguably called, “Hard Times Nouveau”. As with most situations that occur in the stream of life where the society of the times collectively agrees that “Times Have Changed” we have some new notions about how to look at business and personal finance that are developing and may forever alter the way Capitalist’s use credit and generally do business.
Currently, one major part of this process is to find ways to help the millions of people who find themselves financially “upside down” (meaning they owe much more money for something(s) than those things are worth) to get back into “the mix” so to speak.
Within the Real Estate industry the term Loan Modification is used most often to refer to the need someone has to lower their monthly mortgage payment and so they look to the lender for help in re-writing the terms of their mortgage contract. The chief motivation for this is because they find that the house they call home to be worth less money than they paid for it and thus the house is “upside down”.
Given the current economic climate, Loan Modification tends to be a more suitable solution to restore financial stability than choices such as bankruptcy or a refinance because loan modification is typically the least costly way to adjust the payment as well as other aspects of the terms including interest rate and length of the contract.
One big question that arises with this process is, who does a homeowner use to handle negotiation of the new terms of the contract with the lender? The short answer here is the homeowner needs to negotiate the new terms their self or they need to use an attorney.
This is truly the main legal ways to handle the negotiation of a loan modification. However, quite often someone who is looking for a mortgage loan (modified or not) will seek the help of a mortgage broker or loan officer.
Meanwhile, there is some genuine happy news for those mortgage brokers and loan officers who wish to help their clients complete a Loan Modification and keep it legal. You can join our group, help your clients achieve a loan modification, save your client money, have them speak directly with an attorney, and earn a commission for yourself. For more information click the link.
Then contact me with questions at, email@example.com
Be Well….Expect Success……Gary James