Loan Modifications are one of the hottest topics in the real estate industry….

Watch this FREE video now how to make money now from loan mods. Learn the step by step process how to modify your own mortgage…next start your own loan mod business.

More Loan Mod FAQs:

QUESTION:
How can a Loan Mod stop foreclosure?
ANSWER:
A detailed financial analysis is performed by the Loan Mod Specialist and the borrower, to determine their best alternatives. By reviewing the lender’s loss mitigation policies and the state’s foreclosure laws, the Loan Mod specialist is able to best assist the homeowner.QUESTION:
What do I do if my state requires a license?
ANSWER:
Every week the states are refining the laws regarding this topic. Even in the states where an additional license is required (which as far as I know accounts for less than 10 states) you have 3 options:

1) Get the license.

2) In many of the states that do require a license, if you don’t charge upfront fees you don’t need a license. For example, in California a real estate license is all you need to offer mods…but, if you require up front fees you need a license…so, no up front fees. There has been a lot of bad press about companies that charge up front fees and don’t complete the mod. So, understandably the states are cracking down for this reason.

3) Work with a licensed company. 2 benefits…’partner’ with an existing company..You originate the mod…they process the paperwork etc. Basically, you would ‘work for’ the licensed mod company. You create the business, complete 2-3 forms..then they do the rest. Generally speaking, you can arrange a 50/50 split. $1500-1800 to you. Another side benefit of going this route is that they may be in the position to send you listings. They will have many borrowers who (for whatever reason) don’t follow through on the mod. Many of those sellers will turn into short sale leads…for you.

QUESTION:
How is the borrower’s credit affected by doing a loan modification?
ANSWER:
It is not affected.

QUESTION:
How is the borrower’s tax liability affected?
ANSWER:
It is not affected by doing a loan mod.

Popularity: 1% [?]

Similar Posts:

1. Mortgage Loan Modification Training | How To Do Loan Mods | Loan Mod FAQ Part 1 Mortgage Loan Modifications seem to be the...
2. Mortgage Loan Modification Training | Loan Mod FAQs | How To Do Loan Mods More Loan Modification FAQs…. Remember, watch this...
3. Loan Modification Help | How To Do Loan Mods | Loan Mod Training | Loan Mod Secrets More Loan Modification FAQs: Question: This is...