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
