Real Estate Marketing – Foreclosures, Loan Modifications and Government Bailout Plans – Part 3
realestatemarketingthisweek.com – Real Estate Marketing – Foreclosure rates on Forbearance Agreements done with banks reaches 58% – With Michael J Barnes and Dan Havey of Real Estate Marketing This Week Part 3 – In studio with us today on this fine New years eve is Dan Havey, the co founder of the modification hotline as well as the author of The Foreclosure Sharks a fantastic white paper he place together. He is also the author of Real Estates Future and this segment we are discussion about loan modifications and some point information. You also have a fantastic report to tell about this to. Well unfortunately I have too many tales about public who have had to go owing to foreclosures, bankruptcies, loan modifications. The one report I want to talk about real quick is a friend of mine who unbeknownst to me went out and did a loan modification on her own and not to get into a whole bunch of technical details on it she finished up getting a pretty decent interest rate because they in fact cut her finance payment in half and she was pretty pleased about that. She owed a modest bit more than the house was worth, she wasnt terribly upside down, but by the time they got done with her she certainly was going to be because the modification, and in fact I should not call it a modification, I should call it a forbearance agreement, what they did to her was to say, OK we will cut your interest rate in half, we will cut your monthly payment in half, but we will take all of that deferred interest …
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