The Loan Modification Expert

Make $$$$$

Why is it soooooooooo difficult to get people to "refer" business they are not doing anything with? Case in point. We are offering $300.00 to $500.00 per "referal" on "leads" from loan brokers (anyone). These are leads that cannot qualify for any type of loan because of credit, equity or income.

Instead of jumping up and down and refering these "dead" leads the brokers (and others) want to try to get some crazy deal for these throw aways. You would think this new rev stream would excite the average broke broker. Not a chance. I guess when you are used to making thousands per deal $500.00 is not enough. I agree, throw the lead in the trash.

Funny how a .10 cent lead in the wrong hands is worth thousands.

By the way, I can pay $1,000.00 per closed deal. 

Another one bites the dust!!!!

Welllllllllllll,

Did you read the last post? Indymac is HISTORY. I guess they are trying to beat Starbucks with the single most layoffs on a single day. (3200) Is this the end of the giant mortgage loan companies. Remember mortgage implode.com? Start a new round of mortgage meltdowns.

If there was ever a time to be in the mortgage modification and foreclosure business it is now. Conventional loans are at the end of banking "things to do" list. The new loan programs for mortgages will be a spin of FHA style loans. (Is that enough "key" words) Inside joke.

Back to the real reason to post. Up to date I have been right on target with my predictions. I guess I should charge and sell tapes and make millions.

Anyway, tip for the day. Dont let the lenders off the hook. Some lenders are "shutting" down their mod departments. Write your congressman or represenative. I thought congress was going to bail the consumer out of this mess. Car 54 where are you?

Looks like we should address the bank presidents as Mr. President. Seems they are pulling the strings and are going to "set" U.S. policy on this matter.

I strongly suggest you "mod" you loan before it dries up. Take a look at the FAQ's on this site and get your financial plan in motion. I have yet to see a deer that was hit when running on the other side of the highway. You have heard of the "deer in the headlights look". The lenders know this look and take advantage of it. One of my favorite quotes (mine) is "a bad plan is better than no plan."

Start ANY plan ASAP. It will help you sleep at night while the banks are moving $$$$$$$$$$ around the world and making BILLIONS every day on your float. Funny how it takes 3 to 5 days to clear a check (or more) but banks clear your check and get instant credit??????????

I have to have add a disclaimer: sometimes I write these blogs without checking grammar or spelling. I am reminded everyday. (seems everone is an english major now adays)

Go for the juggler

Well troops it is time to go for the juggler, the lender juggler. As you have read Countrywide is in deep ----. (dodo, your mind is in the gutter). WAMU is a close second with ALL of the others to follow. Right now is the time to get the deal you deserve.

Just as in war, confusion is YOUR best allie against the money generals.

The banks are still not sure which way to run. We just negotiated a deal with a 1575.00 payment reduction and 50,000.00 reduction in loan principal. Also, hang on, 8 months "forgiven" late payments and fees. As a cherry on top NO LATES reported.

As always you can attempt to get a deal yourself. I guess you also can repair your car. Save money, right. Remember, the lenders are "cutting" deals for their benefit. It never surprises me to see how the consumer walks right into the "lender punch". These are the same good folks who put you in that great loan program.

I will say they (lenders) are getting more creative in contacting the same people who are upside down with a solution. Sounds like an attorney standing on a busy corner waiting for the car wreck.

Here is the tip of the day. GET YOUR LOAN PACKAGE TOGETHER. 75% of all loans contain some form of error. This can be used against the lender to "leverage" a better deal.