Loss Mitigation Insider Spills the Beans on Loan Mods
A special bonus only for Free and Clear Club / Silver Inner Circle subscribers.
Have you thought of the training (if you can call it that) and the pressures that are on loss mitigation staff at the banks?
I interviewed a former employee of a major loss mitigation department. Now he practices privately doing loan mods for his clients.
You'll learn:
- What's the best time of day to call the loss mitigation staff?
- What kind of workload do they have?
- What underwriting guideline is proving ultra important for some lenders, that most loan mod pros are ignoring?
- How can you increase a borrower's income legitimately, by looking below the surface?
- How can you work with self-employed people and what are the common ways they understate their income, that if fixed can lead to a high percentage of lenders saying "yes"?
Click here to download the interview with Bobby, the loss mitigation insider
2 Comments on Loss Mitigation Insider Spills the Beans on Loan Mods »
Laura Greenbaum @ 9:37 pm:
When you talk about having brother live in home, or you ask for rent from son., what if they pay cash, can a letter be good enough to show as the income?
A letter is perfectly find documentation to show the lender this sort of cash income.
warmly
–Richard
Ethel Phelan @ 11:40 am:
Richard - How can I update my info? I now have a web/blog that I'd like to put in my notes to you/in my communications with you/staff. Please let me know how I can do this. I signed up an an affiliate before and when I tried to get in I couldn't. Please help. Ethel
Hi Ethel, thanks for your note. You can actually log in as an affiliate and change this. I see you reapplied as an affiliate with your new information. One of my priorities is to start helping you as an affiliate promote and make a lot of money so you will be seeing some marketing tools and help very soon.
warmly
–Richard