Pre-Foreclosure Leads
If you are like most loan officers, you are finding it more difficult
everyday to earn a living originating loans. Tighter lending
requirements and declining home prices has turned loan originators into
minimum wage earners. Experts agree that it will be a few years before
the industry can recover.
How can you make money while riding out the storm? Offer loss mitigation services to borrowers in foreclosure.
Simply put, a loss mitigation consultant represents the homeowner in
negotiations with the existing lender. A typical fee for this service
is equal to one mortgage payment. In order for the homeowner to
qualify for a workout, the person must be employed and be able to
afford the new payment. The situation that precipitated the
foreclosure must have been a temporary situation and has been resolved.
If the person does not qualify for a loan workout then they would
qualify for a short sale. In some cases there is a large amount of
real equity and a hard money foreclosure bail out loan can be done.
We have the leads that you will need to operate this business!
You can
log in right
now and browse leads that are being posted in real time to our Cherry
Picked LeadsŪ database. These homeowners have come to our loss
mitigation web site and requested help with their foreclosure problem.
As a registered user of our exclusive system you can log in right now
and get leads.
To find the loss mitigation leads, just log in and
click where it says Cherry Picked. Be sure to check your criteria so
that you are seeing poor and fair credit types and all loan types. Also
update your states as there are no licensing requirements for loss
mitigation consulting. Click the search now button and you will see the
most recent leads at the top of your screen.
Notice the comments entered by the homeowner. In this
field they are asked to enter their servicers name, the number of
payments they are behind, if a sale date has been set and if they want
to stay in the home. This will give you a good idea if you can help
them or not.
If you are intersted in talking to homeowners in distress, SIGN UP FOR FREE
RIGHT NOW! For help getting started, please view our
mortgage leads Flash
Tour or find answers at Frequently Asked Questions (FAQ).
