Mortgage Lenders Nationwide

The demand for Loan Modifications is huge!!! This may be once in a life time industry opportunity.  Aren’t you sick of the many over-night loan mod companies?  It is pretty ridiculous that in a few weeks they are suddenly loss mitigation specialists. Our loan modification processing and legal backline has a 95% success rate since 1999. We seek only highly experienced mortgage lenders and brokers for our affiliate program and we do not charge any fee to your client until we have pre-qualified them
and have contacted their lender to get a green light.

If you’re looking for additional revenue streams because your Loan and Real Estate business is flat, look no further or the biggest opportunity for Mortgage and Real Estate professionals in years. Our Loan Modification Lead Program offers:

“    Fast Pre-Qualification
“    Free Affiliate Consultation
“    Turn Key Operation – Earn Commissions NOW!
“    We handle your client from start to finish
“    We are YOUR back office, NO learning curve

Unlike other loan modification companies, we will not accept your clients case unless we know without any doubt that we can help them, that’s why we have the highest success rate in the industry.  We

We know what you are going through, here’s your opportunity to re-align yourself with the current market. Regardless of your current situation, we can assist you in making money by helping your clients save their home through the use of government and non-government programs that the lender must comply with.

The plan by Countrywide, a unit of Bank of America based in Calabasas, Calif., is aimed at borrowers with subprime or “option ARM” mortgages and would temporarily cut their interest rates to as low as 2.5 percent. The move has been hailed by consumer groups and by Rep. Barney Frank, D-Mass., The Los Angeles Times reported Saturday.

A spokesman for Frank, chairman of the House Financial Services Committee, called the program “the first truly comprehensive plan we’ve seen from the private sector.”  With Frank and others calling for more efforts to help “Main Street” victims of the U.S. mortgage meltdown in addition to bailouts for Wall Street bankers, the Countrywide program would also allow some borrowers who owe more than their homes are worth to perhaps see their loan balances reduced, giving them equity once again in their properties.

“That sounds like good news, in particular if a huge percentage of other loan servicers go along with it,” Robert Gnaizda of the Greenlining Institute, a borrower advocacy group, told the Times.

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JCR Advertising announces national launch infomercial for loan modification industry.  ‘”CRISIS ON MAIN STREET” is a a 30 minute infomercial produced exclusively for Loan Modification companies.  This 30-minute infomercial features segments that document today’s foreclosure market while presenting the solutions that may be available with a home loan modification.  The infomercial highlights current news clips from Senator Barack Obama, President George W. Bush, Federal Reserve Chairman Ben Bernanke, Senator John McCain, and others, providing creditability to the campaign ‘”CRISIS ON MAIN STREET.” 

“The response has exceeded even our expectations”, says Dave Riemann, Senior VP, JCR Advertising.  “Our 30 minute infomercial, CRISIS ON MAIN STREET, includes our live 24/7 answering service that can process loan applications, a complete turn-key website and more. I don’t know of any other campaign that can be implemented in as little as 7 days that delivers immediate lead volume” For many Loan modification companies, like the Loan Modification Outlet, this infomercial presents another opportunity to reach out to distressed homeowners in an effort to prevent foreclosures.

Loan Modification companies can participate with our CRISIS ON MAIN STREET in their local market, with a 7 day turn-around.  CRISIS ON MAIN STREET is available on major broadcast TV stations, CBS, FOX, ABC, Fox Sports, Telemundo, Univsion, Azteca, plus national cable networks, such as CNBC.

Senator John McCain introduced a new plan during the second presidential candidates’ debate on Tuesday night that he believes will rescue the housing market and bolster the economy.  The McCain plan, dubbed the American Homeownership Resurgence Plan, would allow the Secretary of Treasury to buy up bad home mortgage loans, convert them into low-interest FHA-insured loans, and reset the loan principal (therefore decreasing monthly payments) based on a decrease in the value of the home.  The McCain camp thinks his plan will save homeowners from foreclosure.

The plan is aimed at helping those 1 in 6 Americans that are now upside down in their mortgages due, in part, to sinking home values.  McCain’s home financing plan would give these people a chance to refinance based on the current value of their home.  McCain’s plan would be paid for by U.S. taxpayers under funding that’s already been approved in the $700 billion bailout.  According to Scott Hess, former WMC executive, “Americans need a new alternative to refinancing, because sadly, most homeowners do not qualify to refinance their home because of tightened lending guidelines nobody anticipated.”  Hess continued, “At least with a loan modification, homeowners can restructure their mortgage with a fixed rate and a payment that they can afford.”

Opponents, say his proposal are unfair to homeowners who are paying their mortgage loans every month, and that it’s a bad financing decision.  Scott Messina, believes McCain’s plan is a place to begin, but it’s likely won’t solve the mortgage crisis. “It’s a step in the right direction because it attempts to address the issue of rising foreclosures,” said Messina.  “However, it’s important for market stability that those people who are paying their mortgages on time and don’t need a bailout are not penalized.”

“Where’s the incentive for homeowners on the brink to do the right thing?  If everyone else is getting a bail out with no repercussions, then why should you continue to struggle?” questioned Messina. Under Messina’s plan, the Congress would pass legislation that provides for a new FHA mortgage loan program, the 203S, or the 203 Save program that would be sold as Ginnie Mae securities just like many FHA loans are now and would carry the current guarantee by the U.S. Government.  All 203S mortgages would only offer fixed mortgage rates only available to homeowners currently facing foreclosure.

One positive note to the Countrywide Financial. loan debacle it is that Bank of America now manages the Countrywide loan portfolio and is moving to restructure mortgages as part of an $8.4 billion settlement with three states.  With all the news of mortgage lenders working to help troubled borrowers keep up their payments and avoid foreclosure, very few homeowners in these high-cost, risky mortgages have benefited. Bank of America’s agreement with the attorneys general of California, Illinois and Florida isn’t a “we’ll see what we can do” settlement. It’s a must-do resolution of civil lawsuits that could affect 390,000 borrowers.

The B of A program would help homeowners through refinance mortgages into a government-backed FHA loan program, reduce interest rates on adjustable or fixed-rate mortgages or extend low introductory rates so that people aren’t forced into foreclosure because of a rate reset. The goal is to keep home loan payments to about 34 % of a homeowner’s monthly income. That’s reasonable and, we hope, realistic.  A Bank of America spokesman says the bank will roll out the foreclosure prevention program to all fifty states, beginning December 1st. An estimated 87,000 Maryland homeowners could potentially benefit, the spokesman said, and state Attorney General Douglas F. Gansler should push to get Maryland involved if a program review shows it would benefit state residents. 

As it is, there have been too few initiatives that have delivered real relief for homeowners facing home loan defaults. The state’s efforts, for example, have had limited impact despite increasing to twenty eight the number of housing organizations providing counseling services for refinance loans.  According to state figures, state-sponsored mortgage rate modification programs have led to sixty nine mortgage refinances with sixteen16 more pending. In the past eighteen months, at least 8,100 homeowners committed to refinance mortgages to get a better, more stable rate.
But the foreclosure picture here remains sobering. The Mortgage Bankers Association put the number of homes facing foreclosure just this spring at 18,000. Another 65,000 homeowners were late on their payments.  Promises to help homeowners avert foreclosure haven’t amounted to much. The attorneys general of California, Florida and Illinois used the power of the law to go after alleged predatory lending practices, and the $8 billion settlement is an impressive return.

Diana Golobay wrote an article recently about wo-thirds of homeowners surveyed in September said they met criteria for a mortgage refinancing program available through the expanded FHA mortgage offerings available under the newly-enacted Hope for Homeowners program, according to a media statement issued Monday by the Consumer Credit Counseling Service of Greater Atlanta.

Homeowners at risk of foreclosure or home loan default who called CCCS of Greater Atlanta for foreclosure prevention counseling in July and August were polled by e-mail regarding the requirements. Of the 591 homeowners polled, 381 – or 64.6 % – indicated through their responses that they were eligible to refinance their current mortgage loans into new fixed-rate mortgage insured by the Federal Housing Administration, according to the CCCS of Greater Atlanta statement.

The Housing and Economic Recovery Act of 2008, which became law in July and took effect Oct. 1, created a mortgage refinancing program intended keep homeowners from foreclosure. To qualify, borrowers must indicate they residence in the at-risk home, their mortgage originated before January 2008 and have no existing home equity lines or other second mortgages. Candidates also needed to indicate they do not own another home and they spend 31 % of their gross monthly income on mortgage debt.

“Our survey results indicate this new FHA loan program holds the potential to help a large number of U.S. citizens struggling to pay their mortgage,” said CCCS of Greater Atlanta president Suzanne Boas in the press statement. “Not everyone will be able to meet the terms. But if someone meets the basic criteria laid out in the housing bill, it would be worth a phone call to their lender to ask about the FHA refinance program.”  For the 35% of homeowners polled who indicated multiple loans or second mortgages on the at-risk property, eligibility for the refinance program must wait until all 2^nd mortgages or home equity loans are paid off.  “Loan modifications could be difficult if the 1^st and 2nd mortgage are held by different lenders because only the primary mortgage qualifies for the FHA program,” CCCS of Greater Atlanta said.