Loan Modification Training: Call 888-516-1116
My name is Moe Bedard and I am the founder of LoanSafe.org and LoanWorkout.org. I have researched thousands of hours and written on the subject of loan modifications more than anyone in the universe.
Since 2007 I have assisted thousands of homeowners for free and have been featured has an expert in this field by New York Times, LA Times, Business Week, Fox Business and many media outlets throughout the world. I have also owned my own processing /mortgage auditing company and have been involved in hundreds of modifications.
Bottom line, I know what I am talking about and I know this business better than anyone! So, I am proud to announce my new book for law firms and attorneys.
“Saving the Dream, An Attorney’s Guide to Loan Modifications” is an indispensable training guide for the loan modification industry.
Order online via PayPal or call 888-516-1116
The bottom line is that you cannot take this business lightly and this book offers nothing less than the most comprehensive loan modification training available in the nation.
This manual is designed to provide you with the most comprehensive information on how to ethically and effectively operate a loan modification business. To that end it covers the various laws governing our business, strategies for ensuring compliance and the methods of effectively managing a mortgage modification from the beginning to its successful conclusion.
In this 493 page book we will explore the RIGHT TO RESCIND OR CANCEL. One of the most powerful homeowner defenses!
- Was there a NOTICE (2 for each Borrower and Co-Borrower or Co-Owner) of the right to rescind or cancel included in the loan paperwork. (THIS IS THE RIGHT TO CANCEL WITHIN 3 DAYS OF CONSUMMATION).
- Did the right to rescind or cancel have the date of the Document Signing filled in along with the Final Date of Cancel filled in?(12 Code of Federal Regulation, Section 226.18 et seq).
- Were the dates correct? (12 Code of Federal Regulation, Section 226.18 et seq.)
As an attorney performing loan modifications, you need to have a clear understanding of basic mortgage laws like the Truth In Lending Act. We will cover that in this book and much more.
- Who can perform loan modifications?
- Is there a specific license required to perform loan modifications?
- How can clients be legally billed for service in the course of providing a loan modification, forensic loan audit or other service during states of financial distress?
These are the most important questions you should be asking yourself before proceeding any further in this business.
This book is not to be construed as legal advice. Instead, the book is intended to inform you about just how important it is to understand the laws of your state concerning the operation of anything that can be construed as “homeowner foreclosure consulting”, “distressed homeowner consulting” or “foreclosure prevention consulting.”
This book explains the complete loan modification process from beginning to end with detailed descriptions of the client intake process, mortgage auditing process, loan modification processing process and also supplies most of the retainer agreements and legal forms currently being used by lawyers.
Here is an example form letter that is worth its weight in gold when trying to obtain a short sale approval with an uncooperative mortgage servicer. This is top secret and I am releasing it for the first time here on LoanSafe.org to give you a taste of what is inside the book.
February 7, 2009
[BANK NAME] [BANK ADDRESS] [BANK ADDRESS]
Re: Request for Lender’s Short Sale Approval –
Borrower: [INSERT CLIENT NAME]
[INSERT PROPERTY ADDRESS]
[INSERT LOAN NUMBER]
To Whom It May Concern:
As you know, by separate cover Borrower is requesting Lender’s approval to dispose of the Property at an amount less than the debt obligation provided in the Loan. This letter provides Lender with an overview of various violations of the Federal Truth in Lending Act (“TILA”) uncovered through a forensic loan audit of the Loan that was conducted by a third-party mortgage auditing firm. These TILA violations include, but are not limited to, the following:
1. TILA Finance Charge Test – (12 CFR § 226.18(d)(1)). Borrower’s Truth in Lending Statement deceptively and fraudulently under disclosed the Loan’s finance charges. The Loan’s actual finance charge is $[INSERT DOLLAR AMOUNT]; however, the Loan’s disclosed finance charge is $[INSERT DOLLAR AMOUNT]. The Loan’s finance charge is under disclosed by $[INSERT DOLLAR AMOUNT] and is a violation of TILA.
2. TILA Annual Percentage Rate Test – (12 CFR § 226.22(a)(2)(4)). Borrower’s Truth in Lending Statement deceptively and fraudulently under disclosed the Loan’s annual percentage rate. The Loan’s actual annual percentage rate is [INSERT RATE] %; however, the Loan’s disclosed annual percentage rate is [INSERT RATE] %. The Loan’s annual percentage rate is under disclosed by [INSERT RATE] % and is a violation of TILA.
While the above-referenced violations constitute material non-disclosures pursuant to TILA, and Borrower hereby reserves all rights and remedies, Borrower is not presently seeking to exercise his rights and remedies through protracted litigation and trial. Rather, Borrower seeks
Lender’s cooperation in reaching a consensual resolution that will allow them to dispose of the Property through a short sale and spare the Lender the time, cost and expense of conducting a trustee sale of the property. If you wish to discuss an informal resolution to this matter, you may contact the undersigned at the above number.
Sincerely, [INSERT ATTORNEY NAME]
CC: Client Violations Unit
Now that is POWEREFUL!!!
I have seen quite a few short sales approved with that one letter and there are many more form letters you can utilize for your practice in this one of a kind loan modification training manual.
Each section of this book gives you detailed descriptions of each department’s policies and procedures accompanied by all of the agreements, spreadsheets, forms and templates that will be utilized by every department personnel in the course of a loan modification.
One of the most challenging aspects of processing is that a complete loan modification package requires interdepartmental collaboration. The complete file requires:
- Qualified Written Request drafted by attorney and sent to lender
- Completed forensic loan audit to use as a basis for the Violation Letter
- Violation Letter from attorney
- Attorney to client consultation prior to loan modification submission
This may not seem like a great deal of collaborative effort, however, consider that clients are not available at just any time of the day, clients must be responsive to the attorney’s proposed loan modification strategy and that all of these functions require not only attention to detail but cooperation from the client in relation to each department’s various requests for explanations and documentation. Thus, before we cover the detailed outline of processing procedures let us first cover the necessary preconditions for submitting a loan modification that lie outside of the bounds of the processing department’s control.
What else comes in the book:
- A detailed description of non-sanctioned loan modification programs and how they differ
- Complete “how to” instructions and a comprehensive flow chart of loan modification processes
- A lender contact database
- Forms to use in working with consumers and your law practice
- One of a kind spreadsheets that are automated to qualify your clients and determine if they qualify for loan modification or short sale.
- Example hardship letters
- Detailed descriptions on how to perform a Forensic Loan Audit with all the forms and secret software used by the industry’s best lawyers.
- A guide on how to read the Mortgage Audit Report &determine if your client has legal violations that you can use as leverage against their lender.
- When litigation or loan mediation may be a better choice than pursuing a loan modification.
- Instructions for non-lawyers identifying the procedures to retain an attorney on your team.
- Marketing strategies to keep your firm profitable.
- A sample successful loan modification file to use as your “model”
- All templates and agreements you will need for your Mortgage Modification business
- 30 day money back gurantee!
- Order your copy of Saving the Dream: An Attorney’s Guide to Loan Modifications right now via PayPal for only $199 today.
Order online now or call 888-516-1116!
