Loan Modifications Reviewed
Protect yourself by making sure you are a candidate for a loan modification before paying money.
The actual business model, in part, at U.S. Loan Modifier is to monitor what representatives are telling homeowners. Information they gather is then reviewed by the corporate office to make sure the homeowner meets basic requirements. There is a 24 hr waiting period which allows the homeowner to think about what was said and call around for other options if so desired. Not all homeowners are approved. When approved to move forward, they are sent an email with basic paperwork included to expedite the process. We do this as some homeowners have a dire need to save their home and time is of the essence and they are not just “seeing what’s out there”.
At this time a U.S. Loan Modifier Representative will call the client, congratulate them, and answer any final questions. David Wilson says, “We put people at ease and help them make a wise decision. They are already under severe pressure with the thought of losing their home; we consult with them about their options.”
Then a call is made by the compliance department to make sure the homeowner understands the process, and that “promises” weren’t made to the homeowner that shouldn’t have. David adds “at this point a minimum of three people have reviewed the homeowner’s situation before any money is taken.”
As final protection for the homeowner, the file is turned over to an assigned attorney who then reviews the homeowner’s situation before accepting the case. If the case is rejected, the homeowner’s funds are sent back. It’s that simple. All of these steps are taken to protect the homeowner and having several people review the situation before final acceptance helps insure the homeowner is protected. Wilson adds, “We match law firms with client’s needs, they are retaining an attorney. That’s the only way to go.”
All these steps insure the homeowner is protected from lies and false promises. To protect yourself ask if they are a U.S. Loan Modifier Representative. David continues, “We go the extra mile to make sure the client qualifies. If they don’t then they may need to make plans on moving, and if that’s the case they will need their money.”
Wilson says, “Most lenders are not required to follow President Obama’s Making Home Affordable guidelines. Lenders do not want the government to step in, they lose too much money. I often ask homeowners if they have the IRS prepare their taxes or do they hire a reputable tax person. The answer has never been ‘I call the IRS for help’, even though it’s free.”
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