Many times homeowner’s having attempted everything find that they are being forced to have to sell. In fact it is because they’ve been turned around, either declined or given terrible offers, no matter what they request they are given no further options to allow them to keep the property in some affordable matter.
Furthermore, in order to try to even deed the property back, in which the lender doesn’t really benefit in any way, homeowners have to try to sell the home first for whatever they can get. It’s important that if the homeowner does seek assistance that they always make any attempt necessary to cancel any previous arrangement when attempting to move on to the next. It is not just as simple as a payment being missed. They actually have to call in and request for it to be “force” closed. After this while their system resets, I guess they have one of those computers from the early 70’s (the ones that take up a whole room), you have to give it 5-7 business days for it to leave the loan modification department and make it to a place where they are ready to be reassigned.
Jonathan Katz started in the Loss Mitigation industry in early 2000's. He worked for the one of the largest loan servicers in the US in their loss mitigation/foreclosure department. Through a work flow of 600 cases a month and several years of experience he created an organization in 2005 dedicated to helping homeowners. Now he is taking the next step and putting out the information that even professionals will benefit from.
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