Mandatory Counseling From HUD
I saw that mandatory counseling from HUD is required on reverse mortgages, but have you heard of this in pre-foreclosure or "just in default" situations?
Any one have a reference to a good "how to fight a default/pre-foreclosure"
There are legal reason why they do not farm it
out believe me.
SKIDADDLE
I do not think he is talking about working for the investor directly to replace loss mitigation representatives. There is a growing number of companies that the investor uses to contact the home owner. This loss mit specialist discusses with the homeowner their options and tries to find a solution other than foreclosure. They are helping the home owner put together the package, they are not on the other side and trying to get the package approved.
Brenda
When i was working a deal with Green Tree Loan Servicing co. (very mean and unhelpful) they thought i was someone who tries to negotiate forebearance agreements with them and charge the owner a fee for it. (possibly loss mitt specialist) they said its useless and they wont even talk to people who do that because they can call the owner and do it themselves.
i believe thats what your talking about, maybe not?
There are a few loss mit companies out there that are legitimate companies. I used to work for one that helped about 50 people a week and made up to 75,000 a week. Although they made good money and the end of the day the still helped the homeowners save the house. Unfortunately there are a lot of scams out there that give companies like that a bad name.
Hi tlpanic,
How can I get ahold of you?
Thanks[ Edited by tat on Date 11/13/2005 ]
I got a job offer from a Loss Mitigation company. They have hundreds of leads. I am watching this one very closely. They have upfront fees if you want to belong to their organization. There are companies how there that do the loss mitigation services for the lender. There are reputable. maverickstar
maverickstar
what side of the fence do you work - your job is with a company that represents lenders?
I have recently been negotiating work outs for homeowners and sometimes wind up buying the property. I always go in trying to help them save their house first though.
I would like more information on this as well. I see some of you posted that you have been working in this for a while, but did not provide any names of the reputable companies that are providing this service. I would appreciate a couple of the names. Thanks guys.
I am very interested in knowing which companies are very reputable. I live in California and do not want to take away from anyone else.
Thanks.
Bump
I appreciate your response SSPro and understand the issue of confidentiality required when subing from mortgage companies especiallly considering I once did the drive-bys for a few myself years back. However from the comment of tl( I built a company that specialized in this field. We used list companies and worked in 25 states around the country. I can tell you just about anything you want to know about this) I t seems he works for himself and states he can answer any question. p.s.( I only asked 1 by the way)
Be careful with Schultz & Schultz their info may be out of date and you get no support, no matter what they promise! This is a statement that can be proven!
They just sell a box with books daing back to 2002! [ Edited by hobz on Date 02/03/2006 ]
i was thinking about joining schultz & schultz (USLM) but i havent heard good things about them lately. Are there any companies that are reputable that I can work for? I came across pre-foreclosures every week. I want to find a way to help these people
I am associated with U S HomeSavers and they are great - you can see their sites at:
www.ushomesavers.com - consumer side
www.ushomesavers.net - investor side
-Stefanie
dburch:
Sounds like this overlaps w/ what is sometimes call a foreclosure consultant.
In CA they are specifically regulated.
Hi
You have done a good question, it’s really interesting. If you get any good reply, so please let me know. So I’ll also get some good idea.
Thanks for your future help.
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[ Edited by bargain76 on Date 07/15/2008 ]