The television and print media give a lot of negative attention to loan modification companies these days. If the news were any indicator, loan mod brokers are all a bunch of shady crooks who are single-handedly to blame for the economic crisis, and who all need to be put in jail for their evil ways. Rarely do you hear any of the positive stories, say, about a handicapped widow who was saved from foreclosure on the house her great-grandfather built with his bare hands. Believe it or not, legitimate loan mod consultants, and those who are thinking about becoming a loan mod consultant, shouldn’t worry too much about this trend.
No doubt, it’s fun to trash mortgage brokers, Realtors, loan mod brokers these days. We’re easy targets, and it’s true that some of us--a minority--probably deserve the criticism. However, if any of your clients do bring up this issue, just have your response ready, and it won't be a big deal. Just say something about how there are certainly a few bad apples out there, in some cases, the exact same folks who were the mortgage brokers, bankers, and Realtors who helped get our country into this mess in the first place. While it pays to be cautious and watch out for unscrupulous people like that, keep in mind that there are a lot of good apples out there too, despite what you read in the papers. Remind your client that many brokers, including yourself, are very conscientious, just want to help people, offer a great service for a fair price, et cetera.
Plus, while anyone can contact their own bank to apply for a modification, it's a tricky and time consuming process that most people don't know how to even begin. Working with a load mod consultant will increase their chances of getting a good loan mod approved. 99% of the time, that's all you need to say, and it will no longer be an issue.
If you're actually talking to the client in person, as you would be if you met them through personal networking as opposed to impersonal, unsolicited advertising (i.e. junk mail fliers, spam, banner ads, newspaper ads, cold calling) then you have a solid chance to overcome that objection. The client will already of some degree of inherent trust in you, due to the personal connection that results from being referred by friends or family.
I brokered mortgages all through the boom and bust, and there was plenty of negative attention on mortgage brokers throughout the end of the boom and all through the bust. I never had a shortage of clients, mostly because of my emphasis on personal networking, including leads groups, referrals from my ever-growing sphere of influence, and other efforts. The hard part of that business wasn't finding clients, but actually getting the darn deals closed, as underwriters would turn perfectly good files down at the last minute if anyone so much as sneezed. The point is that I still got plenty of clients closed because I had plenty of referrals coming from several different networking efforts at any given point. This strategy works in up markets, down markets, sideways markets, competitive markets, wide-open markets, and everything in between.
You can generate as much business as you want by creating and following a comprehensive marketing plan specific to the loan mod industry. You'll evolve your own strategies over time based on what works for you and what doesn't. Be persistent…no, be tenacious with your marketing and networking, and you'll be very successful.
Click the link below to download a complete loan modification business plan and marketing plan that will help you get your mod business off the ground and keep your loan modification pipeline permanently full. If you'd like to learn more about how to modify your own mortgage, click here: http://ICanModifyMyLoan.com About the Author Matt Sparks is a successful entrepreneur, both offline and on. He is also a licensed mortgage broker, employing real estate broker, and Realtor. He has written books, articles, and blogs about small business, real estate, finance, New Urbanism, and sustainable cities. (c) Copyright - Matthew R. Sparks. All Rights Reserved Worldwide. Article Source: http://EzineArticles.com/?expert=Matt_Sparks Find More : loan modification loan mod consultants good loan |  |
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