A couple of days ago I received an assignment from Titanium which was an actual loan modification from Litton. Was quite impressed at the new terms they were offering the homeowner. Is anyone else starting to get the new assignments and has anyone actually inputed the homeowners financials to get an instant loan modification proposal?

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  • I have been working Titanium for a couple of years. For the most part you are only going to the home to see if they still live there and try to make contact. But today I received my first foreclosure lease back which is something that Freddie Mac is doing. So we will see how that works out.

    About the loan mods. Before the loan mod offers were not the greatest. But they are much better offers now.
    I see a lot of negative thing about Titanium but you can not believe every thing you read. A Lot of those agents have either gotten their hand slapped for telling the person at the house that was not the home owners something that they should not of or it is agents that the reason they are a HRC is to get listing. I started doing it because I have a the same week they called me I had a family member call me and tell me that they were being threatened by there lender. So I thought want the heck, I will pay the 75.00 and see what I can do.

    Now to answer the question about what to do when someone is say they are not the homeowner. I will ask them their name as I am handing them my card. Then I ask them if they know how to get a hold of the homeowner and tell them I am not a bill collector. If they say no. That is all I can do for that visit. I do go back at least one more time and if they do not answer I leave my card again. Then I call and close out the file. I have had them call me back even after they have told me they were not the home owner. I have sold 2 tenants a home. But be very careful because I have had 2 scary visits and one of my good friends had someone come out to their car and stand in front of her car and screaming. The key is to document everything in the file. Sorry this is so long.
  • he financials were received and all the information up loaded. When I met with the owners it was on a Sat. and CW had the warm call for only mon thru fri. He was a truck driver with the eastern states so was going to call while on the road. Ihaven't heard, but he was in good standing for a mod.
  • I got my first loan mod assignment a couple of days ago as well. I was also very impressed! Two options: a 2% rate reduction for 3 years and extended to a 40-yr loan or they could opt to buy the rate down an additional 2% (added to the loan). Taking this homeowner's payments from $875 to$ 596 or $344!

    I haven't reached my homeowner yet but I am actually looking forward to having firm information to give him. Looking forward to more of these.
  • Well I am doing a new Titanium assignment. Does anyone ever admit who they are? I pulled up to the house the SUV in the driveway had the homeowners last name on the license plate. A 14 year old girl answers the door and yells Dad it's for you. A woman comes to the door, denies she is the wife and says the husband is not home. What do you do? Go back two more times and submit the order? It's difficult with the restrictions placed upon us. If they will not talk, we can not help them.
    • I have now completed two successful loan modifications for Titanium Solutions. Both wanted to stay in the home. Very simple process once contact was made.
  • Tell me more, I have not had any assignments like this. I am very interested in finding out more. Let em know which sites you have been getting thses assignments from. i would benice to actualy help someone for once, and not have to throw them out of their home.
  • Well, the thing you need to remember about these Titanium leads is you got to keep working them. Yes, a good majority aren't going to work with you the first time they meet you. This is because of fear, shame and an expectation that you are there to take advantage of them.

    I work my leads after I have turned them in and that is where i have been the most successful. Truth is, I send out a monthly letter to the homeowners and a bi-weekly post card. Both of these methods have made me successful.
    • Jesse,

      Do you mind sharing what you say on these postcards?
  • I have been working with Titanium for over 6 mos now and have only completed 4 loan workouts out of approx 25 assignments. If I get them at home the first time then they tell me they will call etc. Sometimes, even after I have closed out the assignment, if I'm in the neighborhood I will stop by. I got one loan workout like that and Titanium reopened the file for me to complete. Their process is easy and I don't mind doing these.
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