Anyone know of a good loan mod company that doesn’t charge anything up front to determine if client simply “qualifies” for the loan mod? I’m a mtg broker and would like to recommend my clients to them…?? Thanks.
Please PM me with information.
What state are you located in?
MNShortSaleReo, its pretty easy to determine if a client qualifies. If they have a hardship and in the black or close to it on the bottom line of their income/expense worksheet, and are able to demonstrate that they have the ability to pay back their modified loan, they probably qualify.
Yes, hardship is key. ARM, owing more than the home is worth, and high debt to income ratio are also important. However, if many cases when a person has lost their job the bank will not do the loan mod because they will have no reason to believe the homeowner can meet the payments before or after the loan mod. I do loan mods and offer an up front evaluation for free. If there is anything I can help you with PM me.
Thanks,
Greg Garcia
Where are you located and in which kind of property the deal in? It is custom of the trade to charge upfront fees, however one may negotiate it.
For those that have responded to MNShortSaleREO’s post thanks.
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Thanks