Creating Loan Modification Leads

Marketing to Homeowners

The Current Mortgage Industry has been in a meltdown when it comes to a mortgage loan holders and their ability to make payments. The national crisis when it comes to housing has led to a lot of homeowners having to face foreclosure. In just a matter of weeks or days, many homeowners are given notices telling them that soon they are going to lose the homes that they painstakingly worked and paid for. It was just two or three payments not made that already caused them to face the ordeal of having to lose the roof over their heads.

However, there are marketing answers that can be availed of when it comes to facing foreclosure and one of these is loan modification. This option is becoming quite popular among borrowers and lenders nowadays because mortgage companies are aware of the fact that if they let homeowners keep their homes, they could end up saving money instead of losing some. This, as foreclosure is actually quire an expensive process that banks and other types of lenders have to go through.

With the present downslide of the value of real estate, lenders could not afford to have foreclosures or non-performing assets on their records because this would cost them millions. So, for them, it would be better to have homeowners go through modification for them to be able to save their homes from being foreclosed.

What Is The Best Way to Make Loan Modification Leads?

Now, when making modification leads, it's simple to find out when a borrower and a lender are having troubles in their relationship by using credit data to run a soft inqury which gets you nearly everything off of the homeowners credit report.

There are Very Few Providers Of Current Distressed Homeowner Leads, Yet Specialty Mailing Lists & Data Sourcesare a good money maker in marketing lists these days because of the state we have found ourselves in economically. This is mostly because Short Sales, Real Estate Investors, Or any other type of equity purchasing company is not knowledgeable of their existence; if they are, they are not informed of the current laws regarding late modeled data.

More and more companies know that focusing on this rather expansive niche will firmly set them up in the present economy. Newer companies on the scene have to deal with harsher pricing for years, some of the others are not sales hungry and don't have competitive offers or more than so-so leads. Unfortunately, working with these company models will create a lag in productivity that harms both the broker and the lead.

The beauty ofthis type of marketing service is that it can be filtered so that you recieve only prospects that are days late on their loan payments. Of course, you will more than likely want to avoid the 120 days late leads because the NOD will have been issued and depending on your state, the laws protaining to your industry may have changed.

Once you know for certain that you have a Distressed Homeowner Leads, you can get permission to work with the lender and come to an agreement on the terms of the loan modification so that a more affordable payment scheme can be reached.

The adjustments that could be made could either be the lowering of the interest rates or the giving an extension to the payment period, thus resulting in having lower monthly payments to be made. The ultimate aim of a loan modification is to have the borrower save his home from foreclosure and make some money for your company in the process.

This option is even covered by a recently approved legislation, which is directing lenders to exhaust all efforts when it comes to offering homeowners a solution against foreclosure.

Reap The Benefits of using Vanzan Incorporated for your Loan Modification Marketing

Before availing of a loan modification, you have to be aware first of everything involving this option and this includes its processing. We are seeing an average nearly 150 calls per day when a direct mail campaign hits so you will need to be well staffed for the calls.

We suggest making the initital contact as brief as possible so that you can direct them to the download for the permission printout that they can fax back immediately. Once they Respond, our centers handle the calls with somthing like this:

OH GREAT, thanks for calling, yes I am sure we can help... pause.... but first things first, we will need permission from you to talk with your client. Do you have a computer or fax near you?

You then will direct them over to your home page and have them print, fill out, and fax in the authorization to release information, their mortgage statement, and any other paperwork so they can fax it back while on the phone maintaining the relief and excitement of having their issues resolved and a possible reduction of their newly re-amortized loan.

While some of our have loss mit departments that use loss mitigation leads specializing in helping out borrowers with this loan option, there are many more loan modification companies as well with plenty of mailing data to go around could help you out.

They are the ones that would negotiate with your current lender through their lawyers as to the terms of the modification that needs to be set between you and the lender. There are many people who don't avail of the services of these companies though because there are a great number of them that ask for hefty fees.

However, if you already know how you want to plan your communications with the the mortgage prospects and have experience marketing with what they'll go for when it comes to loan modification, you can actually approach your lender yourself. All you have to do is learn the mortgage marketing process on how to avail of a loan modification from your mortgage company and you are already set to meet up with them.

There are now complete guides on loan modification that you can avail of which will teach you the step-by-step process of loan modification and how to have it approved.

With this guides, you will also be receiving free forms needed for the loan modification process. If you will just follow everything in the guide, you are set to get the approval of your loan modification application in a just a matter of time. Read About Reverse Mortgage Leads Here.

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