Loan Modification is not the answer for most people - find out what is

Have you checked the statistics lately. The wall street journal reports that 37% of the modifications completed in the first quarter of 08 were 60 days late with their payments 2 quarters later. The reason is simple, most modifications do not work for borrowers. In California only 1.3% of modifications resulted in a prinicple reduction. How many borrowers are going to continue making payments that are higher than what they could otherwise pay to rent a simliar property when they also owe more than the house is worth? Obviously based upon the statistics available so far, not many.

We have a better solution. We delay the foreclosure process until we can group a minimum of $40 million in value notes from a specific lender. We buy the notes at a discount and write a new note for the borrwer. The new note has 15-25% equity based uon CURRENT market value. We gaurantee the results. The borrwer ends up with equity in their property and a new payment that is much lower than the old payment.

Check out this video for more information.

We anticipate a much higher rate of payment from our borrowers because they have a vested interest in keeping their payments current. Call me at 310.770.6418 if your interested in finding out more or click here for more information.