Lucrative fees may deter efforts to alter loans...

"Lucrative fees may deter efforts to alter loans-many mortgage companies are reluctant to help strapped homeowners."

I wanted to share this article with you, it was posted in the New York Times.

It talks about how lenders may be reluctant to help homeowners in financial trouble because they actually collect a TON of fees on homes in foreclosure. Imagine that!

I'm sharing this because:

1. If you're doing any type of loan mods, it provides ammo for you when talking with prospective clients with respect to their lenders.
2. If you're doing short sales, I believe this is great news, because lenders would rather sell the house, as opposed to keeping it at a monthly loss because of a loan mod.

Here's the article:

http://www.msnbc.msn.com/id/32214198/ns/business-the_new_york_times/from/ET

Enjoy!

Sincerely,

Haven Matthews