A Different Meaning for "Workout "
July 15, 2008
I read an article in the July 21, 2008 issue of Forbes Magazine entitled "Workouts Work Out".
The article described a company in Dearborn, Michigan that works as a mediator between lenders and overextended homeowners. Moose M. Scheib, the owner of the company, claims to have saved 3,900 harried loan customers of Litton, HSBC, Washington Mutual and Countrywide since January 2007. A tenth of his customer have come from www.loanmod.com.
Other than the article in Forbes Magazine, I know nothing about the company. I do know that a number of loan modification consultants have sprung up. They purport to assist overextended homeowners with their lenders. Like any service being offered, it is important to check references and compare fees. Folks under the threat of losing their homes are vulnerable to unscrupulous consultants.
Working with lenders in these turbulent times can be frustrating. It requires diligence to find the responsible entity and persistence to obtain an answer or a proposal. If a consultant has developed a relationship with a lender's loss mitigation department, the chances of success are improved. Just because the process may be difficult is no reason not to seek a "workout" with your lender. It will prove beneficial to both you and the lender.
These "workouts" can be beneficial to your mental wellbeing!
I read an article in the July 21, 2008 issue of Forbes Magazine entitled "Workouts Work Out".
The article described a company in Dearborn, Michigan that works as a mediator between lenders and overextended homeowners. Moose M. Scheib, the owner of the company, claims to have saved 3,900 harried loan customers of Litton, HSBC, Washington Mutual and Countrywide since January 2007. A tenth of his customer have come from www.loanmod.com.
Other than the article in Forbes Magazine, I know nothing about the company. I do know that a number of loan modification consultants have sprung up. They purport to assist overextended homeowners with their lenders. Like any service being offered, it is important to check references and compare fees. Folks under the threat of losing their homes are vulnerable to unscrupulous consultants.
Working with lenders in these turbulent times can be frustrating. It requires diligence to find the responsible entity and persistence to obtain an answer or a proposal. If a consultant has developed a relationship with a lender's loss mitigation department, the chances of success are improved. Just because the process may be difficult is no reason not to seek a "workout" with your lender. It will prove beneficial to both you and the lender.
These "workouts" can be beneficial to your mental wellbeing!
posted by shirley harry at 9:22 AM
2 Comments:
I recently completed 5 loan mods with the folks at Mizna mentioned in the Forbes article (loanmod.com) and I can say without hesitation that they are the best in what they do. I highly recommend them. They are very professional, caring, and had great relationships with my lenders. Check them out: http://www.loanmod.com
I recently used Mizna ( www.loanmod.com) and can say without hesitation that they are a great company who I would recommend to other struggling homeowners facing foreclosure or unable to refinance. They helped me modify 3 properties and I am very happy with their services. Now they are in Forbes...it does not get any better credibility-wise than that.
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