Clc Client Presentation
- 2. Today, banks are faced with more foreclosures than they can handle.
- 3. Recent Headlines prove this- Housing Wire 02/03/2009 (www.housingwire.com) One in Six Borrowers are Underwater on Mortgage! Zillow.com (www.zillow.com) Homeowners have lost $6.1 TRILLION in home equity since the market’s peak in 2006. Foreclosures make up nearly one in five (20%) of all transactions in 2008 The Mortgage Lender (www.lenderimplode.com) Since late 2006 – 329 major U.S. Lending operations have imploded!
- 4. Through Loan Modification , the Bank actually saves money, even when lowering your interest rate, monthly payment and in some cases even the loan amount… and allowing you to keep your home.
- 5. Case Study Choice Loan Consulting has an average of a 35% - 50% payment reduction on loan modifications.
- 6. Let’s start with the basics…and answer your questions!
- 7. 1. What is loan modification? Banks Reduce your payment by reducing interest rates, principle balance and re-constructing the terms In 2009, we expect 70 million homeowners to use loan modification to save their homes.
- 8. 2. Why would a bank use loan modification instead of foreclosing on my house? The bank loses less money lowering your interest rate and mortgage balance than foreclosing Example on a $200,000 mortgage: Foreclosure: Typically, bank gets 40 cents on the dollar. After taking a $120,000 Loss the bank is required to escrow a foreclosure penalty of six times the loan amount totaling $1.2 million in a non interest bearing vault.
- 9. Would you represent yourself in a court of law? Do you know what qualification formula that the banks are looking for in your financial statement? Do you know what to say in a hardship letter? Choice Negotiates 2 months of no payments on every loan modification. 3. Can I do this myself?
- 10. 4. I am several payments behind. Is it too late to save my home? No! As long as we have at least 7 days before a foreclosure auction, we can help.
- 11. 5. I am current on my mortgage, do I qualify? Yes! If you are experiencing financial hardship you may be qualified. Banks do not require you to be behind on your payments.
- 12. 6. I have spoken to my bank and they refused to help. Is there still a solution? Yes! Many homeowners have faced this exact situation. Choice feels confident that we can save you 35% - 50% on your mortgage payment.
- 13. 7. What kind of loans can be modified? Any type of loan! We are experts Negative Amortization, ARM, 80/20, HELOC, FHA, Rural, VA, Freddie Mac, Fannie Mae, Conventional, 1st and 2nd mortgages, Primary Residence, 2nd home, Luxury, Condo, Investment Properties, Commercial and Land.
- 14. 8. Why is it important to be represented by a loan modification Attorney vs. a Mortgage Broker or Real Estate agent? Knowledge of the law Proven expertise Six months ago, that realtor or mortgage broker did not know what loan modification was – let alone how to help you
- 15. 9. How many loan modification cases have you handled? We started in January 2008 and have helped over 1,287+ people keep their homes. We are experts throughout every aspect of the loan modification process and have the success to prove it.
- 16. 10. How long does the loan modification process take? Typically, 3 to 4 months
- 17. 11. Will this hurt my credit? Modification does not damage your credit, going 30 plus days late on your mortgage payment does. It is not required for you to go 30 days late for us to modify your mortgage.
- 18. Our commitment to you:
- 19. Personalized Service We make it priority number one to earn your trust Our goal is to have a representative consult with you within 24 - 48 hours. We want you to feel totally comfortable about the process, understand exactly how we can help you, and be confident that you are working with the very best people.
- 20. Expert Representation Most modifiers are inexperienced Realtors or Mortgage Brokers. Some have an Attorney on retainer. We match you with one of our in-house attorney’s.
- 21. Caseload Limits The loan modification process is extremely time sensitive and backlogs, delays, and slow responses can greatly jeopardize the outcome. Choice Loan Consulting maintains a small caseload-to-team ratio to ensure that all communications and initiatives are clear, concise, and timely when it really counts!
- 22. The Choice Difference Most companies invest all there money on sales and marketing and only have a few negotiators in a back room negotiating your case. Choice has 5 departments dedicated to getting your files efficiently processed…
- 23. Our Departments 1) Receiving 2) Accounting 3) Broker Price Opinions 4) Financial Review 5) Negotiating We get the best results because each department is able to specialize their expertise on one area of the process.
- 24. Fair Fee Policy We offer a “No Loan Modification – No Fee Guarantee”. Simply stated, losing a Loan Modification case could result in losing a home, and no one should financially benefit from this. To this date, Choice Loan Consulting has successfully modified 100% of all cases!
- 25. Don’t go it alone. Let our proven loan modification professionals and legal team give you the critical advantages you need.
- 26. Resolve Letters…
- 34. Not a loan… a new lease on life! www.ChoiceLC.com
- 35. You Don’t Have To Lose Your Home to Foreclosure Our Trusted Loan Modification Options provide the solutions you need quickly!