I’m a mortgage pro, w/ 10 years real estate experience, a RE Broker License and am a CMPS and have spent the last month trying to figure this out because people are coming to me who need help.
I have talked to at least 10 firms who do the modifications and am doing the due diligence on them because most people having trouble making payments, well let’s face it,many of them have no business being a homeowner, and do not have the skills to find a company that will not prey upon them.
So to try and help them keep the home they bought, including assessing their situation, giving them the option of FHA Hope or loan mod, deed in lieu or short sale is a valuable service and I see nothing wrong with a mortgage pro getting compensation for that.
In my search for an experienced group who handles loan modification, short sales and recommends other options, I’ve talked to folks who are obviously out of the subprime phone rooms and passed on them.
I do think $2,000 is too much for a L.O to receive and am trying to figure out how to serve people and still make something for my time, research, due diligence and knowledge putting the client first.
Archives 
August 29th, 2008 
Write a comment