Can Mortgage Brokers
Help Stop Your Foreclosure?

Mortgage brokers can help you stop foreclosure by:

• Refinancing your loan - But let's face it, if you are about to be foreclosed, your income most likely will not be sufficient for a refinance.
• Evaluate your case - An experienced broker can let you know what program you can qualify for. (Top professionals in your state).
• Connecting you with a law firm- A good broker can give you some guidance or direct you to a real-estate lawyer.
  

Can A Broker Legally Help Me?

A broker can't give you any legal advice. You have to remember that the housing market is in a big mess because in the last few years many loans were originated by brokers who knew that the loans were doomed to fail from the start.

Loans were given to people who could barley afford the teaser rate ( a low interest rate given for a short time period, 6 months to 3 years). Later when the rate adjusted they had no way to pay.
We are now experiencing the effect of those bad loans in the form of the record high foreclosure rate.

Can Brokers Do Loan Modification?

Now that the lending business is very slow there are many mortgage brokers who try to do loan modifications.The problem is that only a licensed attorney can accept money in advance for their cervices.
Now dealing with the lenders is a very delicate and time consuming matter, it takes someone who knows "the ropes" to get it done right. Your lender on average receives 2000 to 3000 calls a day by distressed home owners. It is very difficult to get to speak with anyone , let alone a decision maker who can really help you.

Brokers fees

Brokers who do loan modifications, charge a fee. That is understandable due to the amount of work involved ( sometimes the negotiating process can last 3 to 4 months).

Brokers can legally charge you the agreed fees only upon completion of their work. They can not charge you in advance. Only an real estate attorney can charge you in advance for his work and only a real estate lawyer can cut through the "red tape" and get to speak with your lenders decision makers.

Mortgage brokers can help you by evaluating your case and if needed directing you to a real estate lawyer who is experienced in successfully negotiating with the lenders.

To get a FREE evaluation from an experienced negotiator that can help you save your home fill in the form below or contact me directly.

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