Comments on: Steer Clear of Loan Modification or Foreclosure Rescue Practices http://www.biggerpockets.com/renewsblog/2008/11/22/steer-clear-foreclosures-rescue/ Learn, Network, Invest Mon, 23 Nov 2009 13:13:51 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Justin http://www.biggerpockets.com/renewsblog/2008/11/22/steer-clear-foreclosures-rescue/comment-page-1/#comment-65762 Justin Wed, 20 May 2009 22:20:30 +0000 http://www.biggerpockets.com/renewsblog/?p=2458#comment-65762 The sweet spot for getting modifications done has always been when the client is between 60-90 days delinquent. Granted it is possible to save a homeowner who is already had a NOD filed against the property or even a pending sale through filing Chapter 7 or 13 Bankruptcy to delay the foreclosure, hopefully get a negotiator assigned and finish the modification, but this is very, very risky and there is no guarantee that after the lender has started foreclosure proceedings that they will let the borrower reinstate the loan without making a full payment of the past due balance, or actually going through with the BK. I agree with you 100% That's one heck of a rate of return, BTW. <abbr><em>Justin’s last blog post: <a href="http://www.modificationzoom.com/loan-modification-requirements-guidelines/" rel="nofollow">Loan Modification Requirements & Guidelines</a></em></abbr> The sweet spot for getting modifications done has always been when the client is between 60-90 days delinquent. Granted it is possible to save a homeowner who is already had a NOD filed against the property or even a pending sale through filing Chapter 7 or 13 Bankruptcy to delay the foreclosure, hopefully get a negotiator assigned and finish the modification, but this is very, very risky and there is no guarantee that after the lender has started foreclosure proceedings that they will let the borrower reinstate the loan without making a full payment of the past due balance, or actually going through with the BK. I agree with you 100%

That’s one heck of a rate of return, BTW.

Justin’s last blog post: Loan Modification Requirements & Guidelines

]]> By: Evan http://www.biggerpockets.com/renewsblog/2008/11/22/steer-clear-foreclosures-rescue/comment-page-1/#comment-63223 Evan Wed, 14 Jan 2009 02:39:18 +0000 http://www.biggerpockets.com/renewsblog/?p=2458#comment-63223 I don't know if I'd be pumping gold right now, it is just as volatile as the stock market, which means the average real estate mogul probably shouldn't couple the volitility of the real estate and commodity markets. I don’t know if I’d be pumping gold right now, it is just as volatile as the stock market, which means the average real estate mogul probably shouldn’t couple the volitility of the real estate and commodity markets.

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