Home Loan Preservation PPT
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Transcript of Home Loan Preservation PPT
Save Your Business By Saving Your Clients
Home Loan Preservation
Agenda• Current state of affairs,
– Average homeowner, banking system, etc..• What is a loan modification?• What is the process with HLP?• Who can qualify?• Why is it important? • How do I get involved?• Technology that simplifies everything!
Underwater States• 7.5 Million families owe more on their
homes than they are worth• Wachovia Corp said borrowers with
ARM’s On average owe 55%
more than they’re homes
are worth in Merced and Stockton
California
1/5 Homes are Underwater
Almost 3,000 Foreclosure per day
12.5 MILLION LOANS TO RECAST/ADJUST “AT RISK” IN 09
Over 90% of Home Loans in recent years:
ZERO DOWN
SUBPRIME OPTION
ARM
FACTS
RETAIL SALES
10.1%Lowest in Decades
UNEMPLOYMENT
6.8%Highest in 5 years
2.6 Million Jobs lost in 08
CONSUMER CONFIDENCEALL TIME LOW
Go into what happens when retail suffers and when consumer confidence declinesWe lose sales, we lose wholesale, we lose jobs (industrial) we lose white collar jobs.
Current State of Affairs cont.• Banks aren’t in the real estate business
– They don’t want your home• The banks can’t lend money when they inherit
your real estate• Banks must have 1:1 cash on hand for
properties they inherit• Lending Capability; $10 out for every $1• For every $1Million in homes, that is
$10,000,000 they can’t lend out. • The result is; they can’t make money!
President Obama’s Stimulus Package
Two Programs:
• Loan Modification- Up to 4 million Homeowners
• Refinance- Up to 5 million Homeowners
President Obama’s Stimulus Package
• Will help 9 million Homeowners stay in home• Bailout money needs to last until 2012• No help for California, Florida, Nevada, and
Arizona• Mortgages less than $729,750• Refinance Program- Only Loans from Fannie
and Freddie qualify
What is a Loan Modification?• When a lender alters or modifies the
homeowners mortgage to keep them in their home.– Principle reductions– Rate reductions– Term extensions– Deferral of late payments– Combination of all four
Example of Some Successful Loan Modifications
• Each scenario is different and each family experiences different levels of results but every person that we decide to take on as a client get 100% guarantee. But we don’t take everyone!
Loan Modification Process• Step One
– Prequalification process based solely on income– No Credit or LTV questions
• Step Two– Originator prepares file with hardship letter and enters into
software program.• Step Three
– Attorney/staff reviews case and speaks with client• Step Four
– Case is forwarded to processors who work with bank• Step Five
– Bank comes back with offer and client accepts
What if it doesn’t get accepted• 100% Money Back Guarantee• If we can’t get you a loan modification that
helps your family, you get all your money back!– No questions
• UP-FRONT FEES With California leading the way, 38 states have now adopted “foreclosure consultant” laws to
protect consumers from getting scammed. These laws state that it is illegal for a foreclosure consultant to
charge anything at all to the homeowner until “services are rendered”. The ONLY exception made to these laws
is when an attorney is involved and engages the homeowner as a client.
• CA DRE
www.weaverlawdepot.com
HLP Flow of Fees
WHO NEEDS A MODIFICATION?• Adjustable interest Rate• High Interest Rate• Negatively Amortized
Loan• Monthly Deficit• Negative Equity (upside
down)• Balloon Loan• General Hardships• Can’t Refinance• Loss of
Income/Employment
MODIFICATION EXAMPLES
The Paisleys:The had a loan @
9.875% Adjustable, Mr. Paisley’s hours were cut and they had a big reduction in income
Our team was able to Negotiate a 30 year FIXED loan for them @
2.25%Saving them $587.89
per month, and
$211,640.40
MODIFICATION EXAMPLES Joseph B.:
Started at 5.75% Fixed, he could no longer afford his mortgage payment EVEN with that low rate.
Our Team was able to negotiate their rate down to a FIXED 3.625%, and extend the term to 40 years, saving him $587.91 per month,and $282,196.80 over the life of the loan!!!!!
Why it is Important• If I walk away from my house,
– My neighbors values drop– My bank loses money– My credit gets thrashed – My kids move schools and move from friends– Wall Street loses money– The economy continues to plummet – Consumer confidence wither away
Win Win Win
• 1st Priority Client keeps house• 2nd Bank gets performing asset again• 3rd Neighborhoods stabilize• 4th Stock Market stabilizes• 5th Banks loosen up on lending• 6th I make a substantial living for marrying
these parties!
Getting Involved Could Change Your Life
• Business built to save and serve families• Incredible income potential on 1099• Little start up capital• 10 million person market that needs what you do
in the next 6 months• Incredible support and processing• State of the art technology• Be a part of history
Technology
• Completely web based submission and processing
• Online client tracking portal• Online agent pipeline tracking portal• Business Center agent tracking portal• Online training and webinars• Archived training and marketing material
Business in a Box!• You can recruit a guy in another part of the
county, have him watch your meeting on a webinar, sign up online immediately, have his own site up in 2 days, get fully trained by watching the web based archived training videos, and be off to the races! You never touch any of his business, all web based and all you to is provide leadership and coaching.
You are with the best in the business
Be a part of the team that recruits 100,000 reps and saves 1,000,000
homeowners from foreclosure!
Technology DemoBusiness Center Registration
Create Your Business Center
Set Password Username
Affiliate login at bottom
Business Center Log In
Business Center Landing Page“Tools”
Business Center Landing PageTraining Webinars
Marketing Archive
Marketing Archive Cont.
Pipeline Loan Mod Software
Entering in a new client file
Client info
Correspondence
HLP Intake Form
HLP Intake Form Contd.
Financial Worksheet Debt to Income Sheet
Contacts/Notes PageClient Tracking
Managing Your Pipeline
Fee Structure$0-500k
$500k- 1mil
$ 1mil +
2nd Same Lender
2nd Different Lender
Sale Date Stop
$2,995.95
$3,495.95
$3,995.95
Free
$500.00
$500.00
Commission Structure
Agents Sign Up Fee: $499.00 for training and material Monthly Technology Fee: $69.00
Compensation: $1000.00 per closed file
Business CentersSign Up Fee: $1000.00 for training and material
Monthly Technology Fee: $249.99
Compensation: $1,500 per closed file
A good opportunity only becomes great when you act on it!
Call the person that invited you to this webinar and start helping families
immediately!
Add Your contact here!!!