Workout Packages With Banks..

Comments(6)

• 
  Ruman17th December, 2004

  Doesn't anybody do this for a fee?
  
  
  Quote:
  On 2004-12-16 15:35, Ruman wrote:
  I know some people charge fees to help people work out a repayment plan with their bank. I am doing this to help two people currently, and was wondering how other people do it. Do you just call the bank and have the workout package sent to the homeowner and help them fill it out, or ?? I am going to try and get Countrywide to fax me the workout package that way i can work on it with the homeowner ASAP.
  
  Thanks
  Chase

• 
  staceydl17th December, 2004

  The homeowner would need to call the bank and make the request.

• 
  TheShortSalePro17th December, 2004

  Yes, in some cases I do impose a fee to the homeowners to facilitate a workout... usually, it's predicated upon the number of mortgages, and the amount of their regular monthly payment. If it's their primary residence, or if they really can't afford to pay a fee for the service ... I waive the fee.
  
  I do charge speculative investors to structure, prepare, present, and negotiate preforeclosure short sales.

• 
  Ruman17th December, 2004

  Appreciate it. It is just one mtg of $690/month payments. I'm charging $500 to do it and they agreed. I appear to be able to get the workout package myself so I will be doing that. I would prefer that over just calling the bank and telling them to send the package to the homeowner and me doing nothing else.
  
  
  Quote:
  On 2004-12-17 17:34, TheShortSalePro wrote:
  Yes, in some cases I do impose a fee to the homeowners to facilitate a workout... usually, it's predicated upon the number of mortgages, and the amount of their regular monthly payment. If it's their primary residence, or if they really can't afford to pay a fee for the service ... I waive the fee.
  
  I do charge speculative investors to structure, prepare, present, and negotiate preforeclosure short sales.

• 
  amynewbie18th December, 2004

  hi ruman
  
  i believe you still need and authorization to release form from the homeowners to work out a forebearance agreement with the lender. they wont just talk to you about someone elses loan.
  
  amynewbie

• 
  Ruman18th December, 2004

  Correct, as I have done. I was just curious also perhaps what fees other people charge per loan, and if they have the bank send the package to the homeowner or faxed directly to them, the investor.
  
  
  Quote:
  On 2004-12-18 19:54, amynewbie wrote:
  hi ruman
  
  i believe you still need and authorization to release form from the homeowners to work out a forebearance agreement with the lender. they wont just talk to you about someone elses loan.
  
  amynewbie