A New Post By Dan Melson
Mortgage Loan Broker - California
Read other posts by Dan Melson
I'm getting signed up for a loan modification program and its training this morning. If you haven't done it, or don't know what it is, do some investigation and get yourself set up for it.
This is a "doing well by doing good" program. Truthfully, the majority of the immediate income will probably be because I am also a Realtor, and this will get my foot in the door for listing the unsavable properties - mortgage modification will not help everyone. But for the sixty to ninety percent of the people who can be helped will certainly appreciate me taking them into a program that saves their homes, and enables them to stay in the property, make their payments on time, and eventually be able to sell for a profit when the market does turn.
I am excited about this because the past two years I have had nothing that can be done for those people who ignored my advice or never heard it until it was too late, and bought a more expensive property than they could afford. Loan Modification won't help all of them, by any means, and it's not likely to be enough revenue by itself to keep someone in business. But the peripheral and long term benefits of offering something like this and saving someone's home and financial future should be more than lucrative enough to have basically every loan officer who can signing up. Indeed, one of my motivations for publicizing this is to motivate every mortgage provider I can to find a good modification program and offer it to their clients, in order to better compete for business in today's tough market.
Comments