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Housing industry veteran Jonathan Smoke joins Hanley Wood Market Intelligence to lead product development team

National Mortgage Professional
Feb 09, 2009

LoanModDVD now available for distressed homeownersMortgagePress.comLoanModDVD, loan modifications, foreclosures, Amir Fathi, LoanMODulator Millions of Americans today are seeing their American Dream go up in smoke as home values plummet and they suddenly find themselves upside-down on their mortgages. While many are forced to foreclose on their properties, others try to work with lenders to modify their loans. They quickly find that the loan modification process is complex and hard to navigate, so they often turn to high-priced lawyers in an attempt to find help. Now, a team of industry professionals has developed LoanModDVD, an affordable do-it-yourself tool that provides borrowers with step-by-step instructions, patented online software and all the necessary forms needed to apply for a loan modification themselves. LoanModDVD.com was created by a team of real estate and mortgage professionals with the intention of making the loan modification process easy and affordable. Over the last two decades, the team had seen many industry professionals, including attorneys and loan servicers, take advantage of the declining housing market as an opportunity to "cash in" on the growing need, charging upwards of $10,000 to do loan modifications. "Our goal, not only as the creators of LoanModDVD but also as industry professionals, is to help halt the ongoing foreclosure rate that is hurting this country so much," said Amir Fathi, co-founder of LoanModDVD. "We are committed to providing troubled home owners with the necessary information and tools needed to successfully obtain a loan modification without paying thousands of dollars they cant afford." The DVD includes: • A comprehensive step-by-step DVD Guide to modifying your loan • Online "Loanmodulator" software that helps with loan modification calculations and provides the new proposed interest rate you will need to offer your lender • Sample "Hardship Letter" and Loan Proposal Worksheet • Individually customized Income and Expense Worksheet • Inside tips on exercising your legal rights without consulting attorneys Another factor making loan modifications exceedingly complex is the difficulty in getting straight answers as to where to apply and how. "Most lenders are currently being overwhelmed by loan modification inquiries," added Maz Badie, co-founder, LoanModDVD. "Many are understaffed and are using banking customer service representatives to answer questions regarding loan modification, most of whom are not knowledgeable enough to properly answer your questions over the phone. LoanmodDVD will teach you how to submit a professional loan modification proposal that goes directly to a loss mitigation underwriter, not just a customer service representative." LoanModDVD was developed by Amir Fathi, Maz Badie and a team of other industry professionals. Since 2005, Amir has been president and CEO of Silverstone Investment Group, a real estate investment firm specializing in AAA rated credit lending for commercial and residential lending. Maz is the president and CEO of Exclusive Partners Inc., a real estate firm in Los Angeles, which he founded in 2003. "Over the last couple of years, thousands of people have been coming to us, asking for help in modifying their loans," continued Maz. "These people are faced with losing everything theyve worked their whole lives for, and many people want to charge them even more just to submit applications with no guarantees of success." "We created LoanModDVD so that people could take their destinies back into their own hands," concluded Amir. "We really do want to make a difference for the millions of families out there and provide the peace of mind that comes with knowing that YOU are doing everything you can to save your home." If used properly, LoanModDVD can lower mortgage rates dramatically and reduce payments by up to 40 percent. Homeowners can also convert their unstable adjustable loan to a more permanent fixed loan. They can combine a first and second mortgage into one low fixed rate. Of course, results will vary due to different loan amounts, loan types, and interest rates, but the patented LoanMODulator software will calculate what type of rate and payment homeowners should ask for in their package. Homeowners do not need to be in foreclosure to apply for a modification. Right now, most lenders will allow borrowers to modify their loans even if they are not late as long as they can prove their current hardship. LoanModDVD will show homeowners how to properly put together the right type of loan modification package which can get their proposal approved without needing to be late. For more information, visit www.loanmoddvd.com.
Published
Feb 09, 2009
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