Shopping for a modification firm…

Seems as though the “mortgage relief” industry is the newest hottest thing going. Yesterday’s rate shopper is now becoming today’s mod shopper. Yesterdays mortgage broker is today’s “modification specialist”. If you are in the market for some help with your mortgage on any level I think it is only fair to advise of what to look for…

1. Are they attorney-based? Ask to speak to the attorney. It is ILLEGAL in the state of Florida to collect money for mortgage relief without being an attorney. Our attorney has over 25 years experience and is A rated by Martindale-Hubbell
2. Do they handle their own processing? Firms that process files in other states may subject you to risks you don’t need to take. Our processing is all done on-site and in-house.
3. Do they provide document audit services? This can be very helpful if not mandatory in getting things accomplished with the lender. We have a full-time audit and investigation team that doesn’t rely on software but rather does a manual audit to find EVERY violation committed in the origination of the current home loan.
4. Do they have proof of their accomplishments or perhaps even references they are willing to provide? We don’t hide results. We are more than willing to show what we have accomplished for our clients.
5. Do they make “promises” or “guarantees”? Generally speaking promises made in this industry are a sales tactic simply because a final outcome cant be guaranteed. Whoever you work with isn’t the decision maker therefore any promises made are simply designed to give a false sense of security.
6. Do they seem more interested in the fees associated with helping you rather than educating you on how they can help? We wont collect a dime until we have met with you and had a one on one consultation to review your specific situation.
7. Do they sound too good to be true? This old saying couldn’t be more true than in this situation.
8. Do they bill you monthly for service? If so what is the incentive to complete the task? This seems like a lose/win versus a win/win to me. Guess who loses…

The bottom line is you MUST trust your gut. Don’t choose somebody just because they charge less or have a flimsy guarantee. A good modification firm is worth their weight in gold while a bad one is a waste of valuable time, money, and emotional comfortability. Call us anytime to discuss any of these issues.

This is the most common question we receive.  Why would anyone pay a company to handle something they can do “on their own”?  In most areas of life the same principle can be applied.  Why not change my own oil, or cut my own hair, or do my own taxes?  The answer is that you cannot do everything yourself.  When asking for help in anything you do, you want to make certain that the folks helping you know their business and are on “your side”.

Do you know all about GFE’s and points, and “no closing costs” statements?  Unless you are in the financial business most likely you do not.  We all have been trained to be “smart consumers”, ever mindful of paying more for something than we should.  Despite that training and exposure, look where we find ourselves in today’s economy.  We have an abundance of issues in the real estate and mortgage sector despite all the financial advice freely given throughout the news, internet and personal relationships.  The bottom line is always that you get what you pay for.

Not all service providers are created equal.  Some mortgage rescue companies, lenders, and even attorneys, pretend to be a one size fits all solution  A real full service company (with honesty and integrity as its guiding beliefs) and a staff of in house experts, can certainly benefit the average person in negotiating with lenders on the largest purchase of one’s life – a home.

So when you look carefully at what your real needs are, you want to be certain that the expert you seek has the skills and experience to help you.  Many folks are intimidated by bankers and banks.  They are providing a service to you and having your representative have the same specialized knowledge they do can only bring you savings and benefits that you could not achieve on your own.

Negotiating with lenders is a very cumbersome and overwhelming experience, especially for someone who isn’t versed in mortgage lingo or doesn’t understand borrowers rights and the law. Most people don’t realize that a mortgage is a contractual agreement between a bank and a borrower. Being that it is a legal document it is important to know the details of the contract and what rights or restrictions are set forth in the agreement. Long before ANY negotiation all the facts and figures of a particular case need to be brought to the forefront. In doing so inevitably it I discovered that several basic consumer rights laws have often times been bypassed and overlooked due to an irrational and greedy banking industry. Many times this is the saving grace in getting the lender to “play ball”. The reason is simple – if it can be proven that mild or potentially severe consumer rights laws have been violated then the lender stands to lose a lot more then just a few months mortgage payments.

The step in the process which leads to finding these facts is called a forensic document audit. We do this via a full-time professional service called MFI-Miami. We use them because of their “best-in-breed” mentality about manually auditing mortgage loans front origination to post-closing. Many other firms choose to use an automated audit program on a computer and unfortunately this is just not an accurate system for finding violations. Many of the violations are of a emotional nature (i.e. lies, deceit, bait and switch, outright fraud) and a computer cannot read the human impact of these violations. Perhaps a program is good at finding interest rate (TIL) calculation errors but this just isn’t enough to coerce a lender into negotiations. Bottom line a computer cannot out-perform a trained professional in outlining the violations in a mortgage on behalf of a consumer.

Once this audit is complete we use the facts of the case as a bargaining chip with the lender to get terms that meet our clients needs. The cat and mouse game becomes more fair when the playing field is leveled and the tables get turned. After receiving our finalized document audit we begin negotiations to achieve maximum results on behalf on the client in order to persuade them to stay in the property with much better terms moving forward.

Undoubtedly if you are in South Florida you or someone you know has faced mortgage issues.  Either the loan is adjusting, the property values are declining around you, you have been turned down for a multitude of reasons, or the payment has just become unaffordable.  During this process companies have sprung up out of nowhere claiming to be rescuers or even posing as the federal government via advertisements and mailings.  Most of them are from all around the country although some may be local.  All have the same basic desire with a different set of spin tactics.  They may offer elusive “money back” guarantees.  Some even quote proposed interest rates without knowing even your basic information.

We do things a little different. We use honesty and integrity as or guiding force in EVERYTHING we do.  We are not a sales organization with outsourced processing and administrative support.  We aren’t a lead vendor or property purchaser.  We are a robust staff of mortgage industry professionals, paralegals, processors, underwriters, and legal staff who work towards one common goal – helping homeowners who have been blindsided by an unforgiving real estate market.  We meet our clients face to face in one of our many offices throughout South Florida.  We preach transparency in a rather secretive business.  We don’t take on clients who don’t honestly feel have a fighting chance at benefiting from our services.

The largest portion of our client base comes by way of referrals and word of mouth.  We don’t hide behind any false titles or fake credentials.  We don’t stop fighting until very possible option has been exploited to its fullest extent.  We will use every toll necessary get the deal done on behalf of our clients. We are a full-time 24/7 mortgage resolution company with a finger on the pulse of every initiative available to homeowners.  Our main concern is in getting familiar with our clients position so that we can better understand how they have been impacted.

If you are looking to be bamboozled with impressive sales maneuvers or promised a bill of goods that may or may not be deliverable then you have come to the wrong place.  But if you are looking for straight answers from specialists in the mortgage resolutions world then you have come to the right place…

Once you have made up your mind that you would like to pursue help with your current mortgage matter it is important to know what to do and what can be expected.  We have a tried and true methodology of creating maximum value for each of our clients.  While we cant say for certain what the end result will be – we certainly have a track record of success based upon experience.

The first step in the process is perhaps the most important.  It all starts with the consultation.  It is important w know all the details of what is going on.  Generally this is done in a face to face interview though it can be done over the phone.  We prefer to conduct business in our office however when necessary other arrangements can be made.  During this process we will discuss several subjects like employment, hardship, financial profile, and what the process was like when originating the current mortgage.

After the fact finding mission is complete your consultant will prepare your case for review by our compliance department and legal team.  In this process any missing or incomplete information will be attained to insure we don’t leave any question marks open and unanswered.  You may receive a call to clarify questions or retrieve any missing pertinent information.  It is at this point that our forensic document audit is performed enabling us to gain a potential bargaining chip with your lender.

Finally the file is assigned to a negotiator.  The negotiator is responsible for communicating with the bank on your behalf and explain with clear and concise detail what the causes and conditions are.  They speak directly with several departments within the lenders service teams including their legal, compliance, and management  divisions and articulate specifically why your case is of an urgent and necessary matter.  After various lengths of negotiation generally several offers are made until the maximum benefit to the client is met.  At this point the remedy is reviewed by our management and or legal team to insure the most beneficial solution and terms are finalized and you can go about your life without harassment and unrest.