Posted by dutch on September 11, 2006 at 15:53:27:
legal in most states, CA has some funky laws that you need to work with, but most other areas are ok.
This is NOT for the faint of heart or the untrained. Too many scammers out there. I suggest you hook up with one of the FEW legitimate LM companies. Email me for my recommendations.
Posted by Steve on September 10, 2006 at 19:00:48:
Was wondering if Bill or Garrett would comment on their feelings about the legality and or liability in consulting with homeowners to help them stay in their house by assisting with negotiating a loan modification or work out?
I was going to charge a set fee—maybe $1000. Would only get paid if I could work out something with the lender (and the homeowner approved). If nothing could be worked out to the parties agreement, the homeowner wouldn’t pay anything to me.
Steve,
Why would a lender pay you a fee for a workout when the would most likley offer a forebearence to the homeowner? If your looking to buy properties at a discount you need to deal with motivated sellers!!