Tag Archives: write

How to Get a Countrywide Loan Modification

June 23, 2018   Auto Loans

Getting a Countrywide loan modification is easier than ever. The lender has started a streamlined approval process and their debt to income requirement has fallen to 34%. If you’re looking to get a countrywide loan modification, keep the following points in mind to make your chances for approval rise and to take a load of stress off your shoulders filling out the paperwork and waiting to get a response.

You’re statistically more likely to be approved if you know Countrywide’s requirements first. A few lenders do have the information online, but in most cases you will need to call and speak to their loss mitigation department to get the requirements. You can also get the details on their modification programs from the loss mitigation department.

You can either choose to handle your countrywide loan modification yourself, or you may hire some assistance. Under the Home Affordable Modification Program all homeowners attempting to get a modification are eligible to speak with an FHA representative and to possibly have them negotiate with Countrywide. There are also modification companies available to give you the same services as the FHA reps, but for a fee. These are useful if the wait for an FHA representative is too long. It’s recommended to get assistance when trying to get a modification from Countrywide.

You don’t just have to fill out the application for modification, you also have to write a hardship letter to explain why you need to have your mortgage modified. The hardship letter may seem intimidating, but there are plenty of sources on line for samples and tips on writing it. If you use some sort of specialist, they will help you write up the letter.

It’s worth mentioning that Countrywide only accepts modifications on mortgages started between January, 2004 and December, 2007. Also that Countrywide is now owned by Bank of America, meaning that their requirements are identical to those of Bank of America.

If your mortgage is under Countrywide, it shouldn’t be too difficult to get a modification as long as you are backed by some sort of professional. Their approval rate has skyrocketed, though their program selection isn’t great.

Also keep in mind that it takes eight weeks for a Countrywide loan modification to be approved. So while a loan modification can help you, it is not an instant solution. What’s more is the modification is not an excuse to not make your payments. Be prompt with your monthly payments while awaiting approval.

Read More

Why All Investors need an Assistant

March 8, 2018   Fast Loan

Would you like more time, better performance, more success, less responsibility? These are just a few of the reasons to hire an assistant. I want to quickly show you how to easily identify items you can delegate to an assistant. I will let you be the judge on how helpful it will be to hire an assistant.

Let’s do a quick exercise. Compose the following 2 lists:

List all of the tasks you do for your real estate biz and how much time that takes
List all tasks that would help improve your biz and how much time they will take

Example Tasks: Total 40 hours
Write 5 blog entries – 3 hours
Maintain participation in forums, social media – 5 hours
Send out newsletter – 4 hours
Answer my emails and phone calls – 10 hours
Market to find 25 prospects and evaluate – 10 hours
Write 5 offers – 5 hours
Face to face meetings – 3 hours

Tasks to improve my biz:
Market to find and evaluate 25 more deals per week – 10 hours
Write 5 more offers per week – 5 hours
Network, social media, buyers lists, private money generation, build relationships – 10 hours

Now I would like you to look at these lists and ask yourself, “Could someone else help me with these tasks?” “Do I HAVE to do this?” I look at the example lists above and realize that all of them can be delegated to some degree. Some I need to make the final say, but that would only require about 20% of the allotted time to each task.

The key is to define a system and delegate every process and task in that system that you do not absolutely positively HAVE to be you. Of course I want to make the final decision on whether to write an offer. But I can delegate as much of the marketing and evaluation as possible so I can quickly be presented with the all the information and make a quick decision. An assistant can easily maintain social media, email and phone calls. Anything an assistant cannot handle is passed on to me/you.

After a few months, you can really improve these systems and delegate many tasks to an assistant. It is amazing how much time can be saved, business can grow, performance improves, etc. I highly recommend getting an assistant, even Virtual Assistants are a great resource in your success.

Real Return Real Estate™ for years has bought property at extreme discounts, sells and rents with tremendous cash flow. We also provide FREE tips, articles, guides and Educational Webinars. Visit our site

Read More