The Housing Market Boom to Loan Modifications

Sphere: Related Content A typical story of a family who went from living the high life during the mortgage boom to having virtually nothing. For example, a family I know went from owning a home that was worth $795k until the beginning of 2007 to it being worth almost $550k in 2008. Property was foreclosed before they learned about loan modifications.

My concern is that loan modifications may contribute to something even worse than the housing bubble burst. As a society, we have all contributed to what is currently going on. I know I'm not innocent either, because I have been in the real estate and mortgage industry for quite a while now and I still continue to try to "help out" homeowners.

According to Henry Louis Mencken famous quote, "economic independence is the foundation of the only sort of freedom worth a damn." He was one of the rare figures in history who did not support the market deals that were going on around him. Therefore, he always had his wealth even through the Depression. Unfortunately, society felt no need for his services because of it.

What is going on with the housing market?

Sphere: Related Content The housing market offered many opportunities to homeowners and investors at the start of the 21st Century. As a result, competition among lenders and banking institutions grew. The surge of homeowners who supported the competitive nature of these institutions have either gone into foreclosure or are slowly getting there. Many homeowners feel their housing downfall is inevitable, while others do what they can to buy time.

What are the most popular choices? Loan modifications and short sales.

But how do you know you're getting the best deal? There are many experts out there, especially since 90% of those who are still in the industry are the wisest and have probably made the most money throughout the housing bubble. And of course, most have been in the industry for a very long time. Those are always the best pitch. I myself, tend to trust people who have been in a certain industry for a while. Unfortunately, I have realized through my years in the real estate and mortgage industries that it is not always the people who have been in the industry the longest that could get you the best deal. It is the people who have the highest ethical values. I feel that I have had the greatest success when I am certain that I had given my customer the best deal. I have worked in different areas of the industry and have tried to avoid sales due to the fact that I do not like to try to push anyone towards anything they would feel uncomfortable with. However, it was due to this reason that I have been able to build my clientele.

My partners and I have always believed that the best marketing tool we can have is good service and good ethical values. These two tools have brought us many good referrals and have introduced us to many wonderful people. Wonderful people that have allowed our connections and business to grow.

We help homeowneres and/or investors with credit repair, finding the right mortgage(s), loan modifications, short sales, real estate sales and investments, and even property management.

Please call us if you have any questions or inquiries or visit us at http://www.myloannegotiator.net. We are always glad to help.

(909) 753-5277.