Contrary to what many believe, it is possible to get a loan modification for an investment property. To the bank, a foreclosure is a foreclosure; and they don’t like those at all. For the “investor” that does not claim his or her income, they need to decide what it important because by simply starting to document this income, our team can often help you show the ability to pay your mortgage, which is all the bank needs to see.

Yesterday, I spoke to someone who came home to a pre-foreclosure notice on his door. And that wasn’t his biggest problem. Why? He was not the home owner; he had been renting this home for years. He wanted to know what the chances were that he would come home and find his stuff on the street. He also wanted to know what the landlord had done with his rent money for the past 6 months or so that it took to get to the point of pre-foreclosure.

May I encourage you, to be a responsible landlord if you are having trouble? Here are my recommendations:

1. Don’t jeopardize your tenants dwelling place. The reality is that if they were to be kicked out, you could be sued for damages if they have kept their part of the deal by paying you.

2. Call us to find out how we can help you. Maybe we can, maybe we can’t. We won’t charge you to find out. In fact, we don’t charge anyone until we have reviewed a complete file and have the attorney ready to do to work on it with a reasonable assurance that it will go through.

3. Learn your options. Again, our team can help you learn the many options available to you to help you get on the road to recovery.

Help is just a phone call away.  Cal the 24 hour loan rescue hotline )serving all 50 states) at 1-800-578-1897.

I heard a story this week of someone who was in the middle of a loan modification and their house was foreclosed by the bank in the process. Many people may not realize that this can happen, and especially if you are not dealing with an attorney based loan modification company.

If you are dealing with a trusted loan modification attorney, you will usually have a higher chance of getting your loan modification approved because somehow lawyers just get things done where others can’t.

Another advantage of having a lawyer handle your loan modification is that if you need to buy some extra time, they can often assist you with filing bankruptcy which will give them the extra time they need. You certainly would not want to just randomly file for bankruptcy if you weren’t going to get your loan modification approved in the end. You also would not want to file for a bankruptcy simply to try and stall a foreclosure. If you don’t know all of the time tables of the bank, it could be futile.

If you want to work with a trusted loan modification attorney that can get results and won’t charge you any money until they have reviewed your file, contact the loan modification center at 800-578-1897.

Sadly, there are many scams in the world of loan modifications. Some of the same crooks who created much of this mess are now trying to cash in on once again desperate people.  It is a sad reflection of where we are as a society, but rather than was philosophical, I will discuss a few ways to know if you are dealing with a legitimate company.

Generally, you will be dealing with either an attorney, a loan modification company, a mortgage professional, or a real estate professional.  Keep in mind, that this is a service that is in it’s infancy so few people can claim they have been “doing this for years”.  That in itself would be a tip off that you are at least dealing with someone who is not being up front. Perhaps, they have been in the real estate or mortgage business for many years (as we have), but not as a loan modification specialist as the job did not exist until recently.

Also, just because someone is in the real estate or mortgage business does not mean that they have any understanding of the loan modification process or have a better chance at getting a loan modification approved for you.

In the next three blog posts, I will identify several shady tactics used by some of the scam artists, but in general be aware of any “fast talking salesman” who makes you feel pressured to make a decision.

Lastly, do your due diligence as you would with any other type of service. Many people are too embarrassed to ask others if they know of any reputable companies, so I don’t expect you to do that, but at a minimum do a Google search on the company and also check the BBB for any negative entries. You should also know that not being listed is not an immediate disqualification as the BBB is a for profit entity and many reputable business owners forego paying their fees, however a complaint can be lodged against a company that is not a member, so having a complaint is still a valid negative.

A great alternative is to do your own loan modification. Most people don’t realize that they this is an option or they just don’t know how.  We take the guess work out by showing you where you can get the info.  Visit this link to preview a do it yourself loan modification system put together by a real estate veteran who has been successful in modifying 5 of his own loans. His product also comes with a 100% money back guarantee so if you are in need, check it out today!