Loan Modification Newsletter UMMAA
November 1, 2008
Administration Considers More Help for Homeowners
Sheila Bair, Chairman of the Federal Deposit Insurance Corporation, has emerged as the Bush Administration's strongest advocate for helping homeowners avoid foreclosure click here to read the rest of the story
Hope Now Alliance - Mortgage Industry Spin Machine
Hope Now Spins The Numbers
Every time the Hope Now Alliance issues a press release touting the numbers of “foreclosures avoided” the mainstream media eats it up without question. They are so full of crap it makes me ill. The public needs to know the true numbers. They did it again today publishing a new release titled, “Over 2 Million Foreclosures Prevented In Past Year By Hope Now Alliance Members”….hogwash!
Hope Now Industry Partners for Loan Modifications
The Hope Now Alliance, pushed down our throats as saviors to foreclosure victims, is nothing more than a mortgage industry propagandist making sure we all know the big mortgage players are not at fault and doing all they can to help.
Hope Now Industry Partners
Government programs fail to stem foreclosures
Brokers say FHA products too tough for their clients to qualify for
Ambitious efforts aimed at helping thousands of homeowners avoid foreclosure over the last year by the federal and state governments have resulted in little or no effect on local homeowners, brokers said Wednesday.
Loan Modifications for Indymac Federal Bank
We all need to understand this process
The new entity, called IndyMac Federal Bank, has become a laboratory test of whether the FDIC's program can keep people in their homes. While it has already seen some success, the agency has also run into obstacles familiar to private lenders and loan servicers. The upshot: there are no easy solutions to the foreclosure crisis.
JPMorgan to Modify Mortgages to Limit Foreclosures
By Elizabeth Hester
Oct. 31 (Bloomberg) -- JPMorgan Chase & Co., the largest U.S. bank by market value, plans to modify terms on $110 billion of mortgages and forgo foreclosure proceedings on all real-estate loans while the changes are implemented in the next 90 days.
Lender Updates
Here are the lender updates regarding loan modifications for the week. If you have any questions regarding these updates please drop us a note and we will explain further.
Loan Modification is Here for a While!
Modifications are growing beyond belief and now is the time to get out there and help these people. I know, you don't know what to do. Let me tell you something, you have got to give it a try. People are counting on you for the help they need. These people are in disparate times and they need someone like you. Someone that cares about them and wants to help them.
When I started in business I was
DVD & Infomerc Gives You Credibility
I am going down to Palm Springs to make an infomercial in a couple of weeks. I will be interviewed by Dr. Jeff Hockings from the national TV show called Leading Experts. This is an infomercial that brands you as an expert in your industry for your local market. I am very excited about this, not just because of the exposure I will be getting out of it but it is free if you do it right.
Nothing gives you more exposure than being on television portrayed as the expert.
Loan Modification Advance Training in South Lake Tahoe
The South Lake Tahoe Advance Training Program was sold out this past weekend. We all had a great time and enjoyed each others company.
The speakers we had did a great job. I would like to thank them all.
Loan Modification Mailer Program
I have tried dozens of different mailers over the years and most of them fell flat on their rear-end. I have been scared to try anything other than my personal cards. I had not done traditional mailers for over a year and thought I was doing the right thing. Those of you from the mortgage business know how great mailers were about 3 years ago. Then the market got flooded with mailers and the response rate dropped so low it made it impossible to get a good return.
Auto dialer voicemail program is wonderful
I have been using a program called XMvoice to make out bound calls. This is an online program that calls people from a data list and leaves them a message. I have used it many times this past year and have gotten pretty good results. I spent $500.00 and had it call 2 hours each evening from 6-8:30 Monday through Friday. I got an average of 4 calls per evening and closed 13 deals out of it
Loan Modification Software
About six months ago I called the developer of the Credit Money Machine and asked him to build a program we could use for loan modifications. Credit Money Machine is the program I use for credit repair and debt settlement. Lorenzo called me last week and said the program was ready, I jumped on the computer and took a look. I am so fired up at how easy it makes the process. All of the forms are in the system and all you have to do is input the information one time and the machine does the rest.
