Orange County Short Sale Specialist

Loan mod frequently asked questions Anaheim California

Hello folks, a lot of you are concern about what steps, activities, requirements are necessary to do a loan modification, we have heard that a lot of people don't qualify for it, why?

let's keep in mind that all loan matters are and will be always subject to the final investor approval.

Who is your investor?

Your investor is in few words the owner of your note, the owner of your loan. this person or corporation is not necessarily the financial insitution you see in your montlhy mortgage statement, this could be just a servicer.

For example: if your monthly mortgage statement displays the ABC Mortage Inc. this could be only the servicer not the actual investor, if you are doing a modification or negociation a short sale, both types of transactions are subject to your investor approval.

To see more questions and answers about loan modification visit

http://www.nls.gov/offices/hsg/sfh/nsc/faqlm.cfm

 Remember, I'm always here to help and assist you in your real estate matters\

Sincerely

Carlos Morales

www.carlmorales.com www.orangecountycashortsale.com

Hello My Fellow Colleagues,

It is very common in California and I'm assuming in other states, that a lot of Real Estate Agents are now doing Modifications, is this legal? Are we as Realtors entitle to do Modification Services?

This is what I think, we should all understand our function as Realtors, people trust on us, people deposit their hopes when they talk to a Real Estate, and we should always remember that.

Even though the documentation and the department that deal with this king of request is the same with the lender "Loss and Mitigation" I would recommend to all the Real Estates interested in becoming a "Modificator" to read the new RESPA regulations and if possible to partner with an Attorney for at least the begining, until you gain real knowledge and confidence on how to present the entire paper work.

A real good modification takes a lot of time, efforts and dedications, I've come across to a lot of "modificators" just making things worst.

At the end, if we do our diligencies, people will be thankful and if we don't get a comission for a modification, we will get a referral and you will have that client for life.

Your comments and opinions are highly appreciated.

Thank you