Since I first visited the Mandelman site I have offered to get a pitch fork and already identified a stick that is available to me to change the mess in my country.
I happened to visit his site in my quest to reason why I should use a commercial Mortgage Modifier over going directly to my lender in seeking help with my sub-prime loan.
Mandelman (Martin Andelman) expresses outrage the way I feel it. He does not suspect "The Mod Squad" the way I do but he has me on his side. I'm linking him on my blog site and sending links in my emails to appropriate people.
But I already had begun applying directly to my mortgage lender for over 22 reasons (see my blog) because I think my "sniff-test" of the mod squad results in too fragrant of an aroma to send me in their direction. But, without them I am in the hands of my lender.
As a matter of fact, this has been the case since March 17 when I faxed my info to the lender's office and today is June 24. I am waiting, nervous and not sure I did the right thing.
There does not seem to be a third choice for me so it's mod squad of direct DIY mod application.
I have been waiting to find out what success stories Mandelman has gotten since his recent plea for success stories and testimonials to take to Congress to avoid regulation of mod consultants who take advance payment.
So far I find no result. Perhaps there is some coming and I will keep looking.
And, Mr. Andelman, I am keeping my stick handy to hit those legislators who forgot to keep track of the trillions of dollars that is supposed to help clean up the mess they made already!
My quest for the suspicious mind:
Since I first visited the Mandelman site I have offered to get a pitch fork and already identified a stick that is available to me to change the mess in my country.
I happened to visit his site in my quest to reason why I should use a commercial Mortgage Modifier over going directly to my lender in seeking help with my sub-prime loan.
Mandelman (Martin Andelman) expresses outrage the way I feel it. He does not suspect "The Mod Squad" the way I do but he has me on his side. I'm linking him on my blog site and sending links in my emails to appropriate people.
But I already had begun applying directly to my mortgage lender for over 22 reasons (see my blog) because I think my "sniff-test" of the mod squad results in too fragrant of an aroma to send me in their direction. But, without them I am in the hands of my lender.
As a matter of fact, this has been the case since March 17 when I faxed my info to the lender's office and today is June 24. I am waiting, nervous and not sure I did the right thing.
There does not seem to be a third choice for me so it's mod squad of direct DIY mod application.
I have been waiting to find out what success stories Mandelman has gotten since his recent plea for success stories and testimonials to take to Congress to avoid regulation of mod consultants who take advance payment.
So far I find no result. Perhaps there is some coming and I will keep looking.
And, Mr. Andelman, I am keeping my stick handy to hit those legislators who forgot to keep track of the trillions of dollars that is supposed to help clean up the mess they made already!
My quest for the suspicious mind:
Good luck on this. I started working with my Lender on one in Sept. of 2008. Let's just say nothing has changed since that time
_________________ "Since the general civilization of mankind, I believe there are more instances of the abridgement of the freedom of the people by gradual and silent encroachments of those in power than by violent and sudden usurpations." - James Madison - 1788
Since I first visited the Mandelman site I have offered to get a pitch fork and already identified a stick that is available to me to change the mess in my country.
I happened to visit his site in my quest to reason why I should use a commercial Mortgage Modifier over going directly to my lender in seeking help with my sub-prime loan.
Mandelman (Martin Andelman) expresses outrage the way I feel it. He does not suspect "The Mod Squad" the way I do but he has me on his side. I'm linking him on my blog site and sending links in my emails to appropriate people.
But I already had begun applying directly to my mortgage lender for over 22 reasons (see my blog) because I think my "sniff-test" of the mod squad results in too fragrant of an aroma to send me in their direction. But, without them I am in the hands of my lender.
As a matter of fact, this has been the case since March 17 when I faxed my info to the lender's office and today is June 24. I am waiting, nervous and not sure I did the right thing.
There does not seem to be a third choice for me so it's mod squad of direct DIY mod application.
I have been waiting to find out what success stories Mandelman has gotten since his recent plea for success stories and testimonials to take to Congress to avoid regulation of mod consultants who take advance payment.
So far I find no result. Perhaps there is some coming and I will keep looking.
And, Mr. Andelman, I am keeping my stick handy to hit those legislators who forgot to keep track of the trillions of dollars that is supposed to help clean up the mess they made already!
My quest for the suspicious mind:
Hey Sniff Test Guy... Thanks for reading me and sending my column to others. The whole thing makes me nuts, to be entirely candid.
But I was just commenting on another thread about the whole thing about everyone being a scam. Here's my thinking on this:
1. To me, a scam is something that takes your money under false pretenses and does nothing... delivers nothing.
2. The firms I've visited and referred clients to, are not scams by my definition. They modify loans every day... some complete several hundred each month. How do I know? Because I've called and verified 700 records... homeowners who had their loans modified by a firm and were satisfied with the outcome.
3. Are we all sure that we're directing our anger and frustration at the right place when a firm fails to obtain a modification for a client? I mean, it would seem that if it were up to the loan mod firm, every client would get a modification in 72 hours, every mod would include a principal reduction, and every interest rate would be lowered to 0%.
SniffTestGuy Dud?
Joined: 10 Jun 2009
Posts: 5
Location: San Francisco Bay Area
Thank you Mandelman for your clear and informative answer to this suspicious sub-prime loan holder. Your study:"They modify loans every day... some complete several hundred each month. How do I know? Because I've called and verified 700 records... homeowners who had their loans modified by a firm and were satisfied with the outcome. " is as close as I can get to verification of value of the mod service people (mod squad) and I am listening. And, I know you have tried to amass a lot more. This is what is needed.
Steve, one thing, I listened to the Liberty radio interview you had recently. I don't think the venue does this discussion any good. Yes, I am generally a liberal and proud of it. This Liberty host is, apparently, right of Ollie North and a genuine logic black hole in the head. President "Barak Hussein" my donkey! Wrong place to get a fair hearing.
As you know we at Loan Restructuring Solutions do not deal directly with the consumer but with the brokers, attorneys and real estate professionals who do. We process the loans directly for them and negotiate with the banks for them. As such we are in a unique position to gauge the market, its trends and what it requires.
We are seeing an ever increasing volume of loans that need to be modified every month, week. This month alone our submissions will exceed the 800 marker and growing. The private market is responding to the needs and wishes of the borrowers.
Below is a recent blog of mine.
I am so fed up with the bloody nay sayers out there. I am so bloody fed up with those who wish to turn the loan Restructuring/Loan Modification business over to the banks and or the attorneys. Who the heck got us into this reprehensible situation in the first place.
Well we are giving it back to them if we don't watch out.
The banks will do EVERYTHING in their power to retain their money (they have a profit to maintain and shareholders to pay). You think they care about you? Even if you are a shareholder.... If you said yes then you are living any where else but here on earth. No, the banks are out for only one thing and that is to preserve their Bottom line, their Profits, their Salaries. And how will they do that, by making sure you accept an loan on their terms so they can make the best of a bad deal that they underwrote to start with.
Ask yourself this one question. When you are on hold with your bank do they say "This is an attempt to collect a debt" or do the say "This is an attempt to modify your loan". If they truly had your best intentions in mind they would, (and if they say the latter then go for it), unfortunately I have never heard them say it and most likely will have to wait a very long time before I do (h**l will freeze over first in my opinion) but please call me if you do.
If they say it is free, guess what..... they lie. Beware no one works for free, for nothing, not the banks, not the attorneys, not even the government. ( And definitely not me) We, the tax payer are paying them. Who pays those that don't work for the government??? if not you, then who? Are the banks working for free?? don't make me laugh. Will you work for free? If so I have a job for you. Please call 555.5555 Oh and please give me your SS number, date of birth and bank account details aswell. Thank you so much, I'll be in touch.
The answer to all of this is not a simple nor a one line answer, it is complex, the business is complex. And my friends is that. Every loan, every person, every home, each is and by definition has to be, wait for it. Different. It can not be any other way. Every persons situation is unique, every person needs to be represented, to feel that they are empowered to look to their own well being. This can only be accomplished by allowing the free market to truly work as the free market should. The market itself will regulate itself.
Satisfy the clients needs and accomplish the goal and reap a small but worthy fee. No reward. No Market. No loan. No Home
Ladies and Gentlemen of this industry. I implore you to be responsible. Home owners I implore you to be realistic and understand that the bank is not your friend. Like you, they are after their and only their best interests.
Thank you for reading this.
PS I just bought more stock in Bank of America. Great price and it will go up.
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