Loan Modification Leads

by admin on February 23, 2009

Loan modifications are very popular right now. There are many businesses springing up virtually overnight to handle this growing tidal wave of people seeking mortgage or loan modifications. Many of these businesses buy and sell loan modification leads. These leads can have information about the person, phone number, description and anything else they submitted when they were looking for help.

There are many companies that provide either loan modification or foreclosure assistance leads. One example is a company such as HomeForeclosureFighter.com, which provides an array of information on loan modification and foreclosure help. There is also LoanModificationsFast.com they help homeowners avoid foreclosure and can assist you if you are looking for help. Both of these companies run affiliate programs and accept loan leads from third parties. Don’t be alarmed by that practice as most major businesses have some sort of affiliate program – a way to incentive other people to help them do business and drive sales.

Here is a sample of a loan modification lead, it could be something like this:

A normal loan modification lead form would include the name of the person. A person interested in going in for a loan modification would need to fill in their name, address, phone, alternate phone number along with his email address etc.

They would also have to reveal their annual income along with the current loan balance. The approximate value of your home would help the loan modification agency to work out a loan modification accordingly. You also need to help the loan modification agency with details relating to your 1st mortgage lender and the interest rates charged by them. Another vital source of information which needs to be shared is whether the interest rate is adjustable. The individual also has to give details regarding his other mortgage commitments, whether he has been able to fulfill those commitments on time. In case you are behind on your mortgage, then it would be important to know how many months you have missed payment. What is the amount you pay out every month for your mortgage commitments, whether at any point of time you have been served a default notice.

Over the last few months, loan modification programs have become very popular. The lenders are busy trying and sorting out loan modification programs for their clients. These sort of programs try to help prevent the borrower from having to foreclose, at the same time, the banks and financiers are also assured of a monthly sum from the clients every month. Foreclosure cannot be an answer to everything, because in the process both the borrower as well as lender lose out.

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