tag:blogger.com,1999:blog-6295084548093377051.post1643449718161083719..comments2023-07-06T07:24:13.608-04:00Comments on Drew's Mortgage News: Witch Hunt or Consumer Protection? - 178 Loan Mod Companies Pursued by Government.Drew Sygithttp://www.blogger.com/profile/18001992426038787015noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6295084548093377051.post-87197295821531547342009-09-26T07:44:51.399-04:002009-09-26T07:44:51.399-04:00This is true. But this government action has came ...This is true. But this government action has came too late. Because by this time many people suffered at their hands. Although this is late but nice step initiated by government.Bank CD Rateshttp://www.bankcdratesonline.comnoreply@blogger.comtag:blogger.com,1999:blog-6295084548093377051.post-26581040284114160152009-09-07T13:06:09.653-04:002009-09-07T13:06:09.653-04:00I do legal Loan Modification with no advanced fees...I do legal Loan Modification with no advanced fees outlined by Department of Real Estate, I followed there guidelines to establish when a fee is earned. I did a 495 for submission and 495 for talking and making arrangements with there lender. We have 95% offers from the lenders. We have 76% accept the offers. The 5% and those that do not like their offers turn on my company for submission fee, it not high and it is the cost we pay staff to do the work. My company has never made more then the department has cost me. The DRE is now trying to fine and damage my good standing as a broker. All for 6 files missing fax conformations (confirming completion of the submission), 6 out of 165. I got them supplemental proof that it was done before the fee was colleted and they are still moving forward with the fines and have already attached reprimands to my license. Those reprimands describe me as a criminal, one that shamed me, my wife and my family business...<br /><br />If you are think of helping those in trouble with loan modification don’t. I would tell you it is a witch hunt and it is best left alone. The consumer is on there own. And I am sure that is what the republicans of California want. They don't want people to get help it cost the banks to much...<br /><br />It is nice to see big business and government working together...<br /><br />If you do not think it is a witch hunt watch this: <br />http://www.kcra.com/politics/20465430/detail.html<br />http://www.reuters.com/article/gc03/idUSTRE57B5DI20090812<br /><br /><br />It is clear that no company is free of business mistakes and will not be able to off set this level of scrutiny. Nor will professional business owners will take the risk of grouping themselves in that shady umbrella. The BBB rated a new company F-, they justified the rate sighting industry and experience… It is clear if you help those in with loan modification even those with valid hardships you will be attacked… Oddly that leaves people with no one to turn to for professional help. <br /><br />Who is hurt by not having 3rd party help:<br />• People with limited literacy<br />• People with English as a 2nd language<br />• Hardships that leave them emotional & Physically week.<br />• Those with limited understanding of Loan guidelines and How they work.<br />• Those with limited knowledge of the rights as borrowers<br />• Those with limited knowledge of the Making Homes Affordable Plan and it benefits. <br />• Those afraid to take on a multinational Bank, supported by the government to focus on there best interest. <br /><br />The group most hurt is the poor, un-educated and social economical challenged. Oddly, this was who President Obama had outlined to help… <br /><br />I do not know how to address those that charge 3000.00 or more. I also do not know how to address that the private sector is seen as the predator in this problem. When in realty the private sector is best suited to give each homeowner professional request for help.<br /> <br />The non profits have little man power, and limited funding. Oddly, our local group is funded in part by a grant from Bank of America (Country Wide). You have to wonder how many B of A loans are modified with the agency they fund. The rest of the support is from the FED who’s primary job is to keep banking stable, not to help and increase losses & claims. It in no wonder they send in one person to organize a rage tag group of non profit. He is failure is there victory, the banks should not govern loan modification. <br /><br /> I do know that charging 990.00 has helped a couple of hundred of my clients and those that don’t get help try to shut me down. Avoid this trap… Your life is more important then trying to help others.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6295084548093377051.post-59366727302119096462009-07-19T22:28:31.904-04:002009-07-19T22:28:31.904-04:00Before purchasing a property, primarily secure tha...Before purchasing a property, primarily secure that you have enough source of income. Be certain that you have sufficient funds on a long-term basis to insure that you'll be capable of paying your monthly amortization.CoachingByPeterhttp://www.coachingbypeter.com?a_aid=ronnoreply@blogger.com