January 28, 2010

Should people pay a fee to complete a loan mod?

By Timothy Stull (http://www.fresh-start.co)

This has been a hot topic for some time now. We all hear the stories about the rip offs…..what we don’t hear is the failed mods that turn into lost homes. Lost homes because the person working the case did not have the right experience. Lost homes because the non for profit agent has 1000 files he needs to work daily. Lost homes because because the “free help rep” was working at Burger King a month ago and a 30k a year job is a step up. I could go on and on and on. The loan mod / foreclosure prevention business is a super tough business. You need to have a super thick skin, negotiate effectively, have awesome math aptitude & understand credit + mortgage law. Does this sound like a 30K per year job? Does this sound like sound like a job the public can do on their own? I have been consulting people with serious financial problems for 22 years….I would say that maybe 1% have the skill set listed above. So who is gonna do the work? The bank rep…..fat chance there. They are there to collect the $$. I know ~ maybe Uncle Ralph will help me ~ he worked a bank 20 years ago….uhhhhh no. People need to wake up and realize that all of this work is not going to be done for free. Do you go to work for free every day? I guess I am sick and tired of all the ads out there ~ it will be ok ~ do it on your own. For this very reason we have wasted 75 billion dollars and closed 30,000 loan mods. That equates to 2.5 million per deal. Tell you what ~ we charge alot less….and we get the job done. I am always available for free cutting edge advice at 877.297.7011.

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