Default Leads - Late Homeowner Marketing

The Reality of Homeowner Default

The risk product that was the adjustable rate mortgage happened to be both innovative and undermining for the housing market. Banks were lending when the capital just was not on the books. The rumor of prosperity led to growth in homeownership when the capital on an individual level was also not on the right side of the books. Default was in the air.

Climbing Debt and Loan Rationing came next and related directly to the financial frailness of the now waning market value. More and more people defaulted from both sides of the money, forgot that debt is not a Commodity. In no time at all, industrial conditions were factored in and spending and investing decreased. The co-actions that relate to the ARM holders in this telling is that property repair much less remodeling was nonexistent even with refinancing, the quality of life was waning as they edged ever closer to their balloon date.

Typical Default Mortgage Leads

In looking at the ARM’s, we are seeing homeowners who took a “teaser interest rate” before all of this started to play out. Who were they? Typically, ARM’s were families, but further: they were the lower paid, or the handicapped or elderly of our society. Happy and hopeful borrowers not staring down the future; but living TV lives that they thought they could have. However, soon it wasn’t a jingle that was going to knock on the door.

These Default homeowners have families who are virtually defenseless anyway to the shifting gears of an economy, found that they were in need of Loan Modification Assistance. They are waiting, hoping to Avoid Foreclosure in homes everywhere. They are the poor, they had a subprime loan. They need Loan Modification Help now.

The neighborhoods that these families qualified for were typically in moderate to low income areas. What happened there was predictable, the areas started to notice a yawning abyss as evading Banks started to move away and houses emptied. There were some new inhabitants; they were payday loan lenders, and check-cashing businesses.

Often these loan sharks entered the neighborhoods at the arrangement of mainstream financial institutions. Wall Street as well jumped in to consolidate and sell the subprime loans. That so, our ARM holders did not have a banking relationship to deal with as they started to default.

Of course money was an issue; the sharks would not have come if they could not play their voracious game.

Late Mortgage Assistance and ARM Leads

Now, we are up to date, still behind those doors of forfeit, are the ARM holders: defaulting, mostly uneducated, homeowners who could not keep up with their promise because they did not think ahead.
Can we still save these homeowners, it is not known, but we can give them a bit of relief with Late Mortgage Help.

Will the economy turn around … possibly; in the meantime, Homeowner Assistance via home loan workouts is a good call. If your business is Mortgage Modification Assistance, dial our number (800) 884-8323 , we can set you up with Loan Modification Leads that would like to save their Mortgage.

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