What to watch out for in a loan modifcation company

In many cases our clients pursue a short a short sale at the same time as trying to get a loan modification completed.

What should you watch out for in a loan modification company:

1) Large upfront fee charged - Many loan modification companies charge a huge fee to contact your lender, and if they don't succeed, will keep up to half of the fee. Look for a money back guarantee.

2) Fee collected with limited explanation or disclosure - If the loan modification is legitimate, they will thoroughly explain what services are being provided.

3) First proposal accepted - The loan modification comes back after 90 days with terms which the homeowner can still not afford.

4) Company credibility - With such a high demand for loan modifications, make sure that the loan modification company is a legitimate business and has a real office.

OC Short Sale Guys has partnered with a local law firm here in Orange County California which has 30 years of experience in helping clients with loan modifications, bankruptcies, and general loss mitigation services. They offer a free consultation to analyze the situation and along with OC Short Sale Guys, will do everything possible to work out a solution.

Geoffrey & Gabe
OC Short Sale Guys
(949) 287-4483
http://www.ocshortsaleguys.com/

Loan Modification / Subject-To Purchase

One interesting investing strategy we've come across lately is what I will call a Loan Modification / Subject - To purchase. This requires absolutely no money or credit from the investor.

In some cases after recieving the notice of default, the homeowner may be able to go through with the loan modification, but will still be in a difficult situation to make the monthly mortgage payments. In this case, we are still able to help them walk away from the property but avoid both a short sale and foreclosure.

This is a tremendous win-win situation for both the investor and the homeowner.

We have also seen in this situation investors set up a Lease-Option in the recently purchased Subject-To property. This is also a win-win situation for both the Lease-Option tenant and the investor: the tenant gains an ownership stake in the property while working towards a better situation to excercise the option to buy, and the investor secures the option money while having a tenant who has an ownership stake in the property.

Believe it or not, this strategy is starting to make sense here in Orange County California as the buds of cash-flow property are starting to sprout.

Geoffrey & Gabe

OC Short Sale Guys

(949) 287-4483

http://www.ocshortsaleguys.com/