Loan Modification, bankruptcy, debt settlement

Loan Modification Stimulus Program

March 30th, 2009 Posted in mortgage software
Mar, 30 2009
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A new stimulus package signed into law now allows Fannie Mae and Freddie Mac to aid more homeowners. This means the demand for mortgage loan modifications will continue rise.  In order to keep up with the increase and help more homeowners the importance of having an efficient loan modification management software is going to be very important.

Captaloans is a web based loan modification program that allows your company to quickly begin managing your customers,  inputting case files, and allowing customers the ability to check status online.  With a simple to use interface and subscriptions starting at only $10 per month there is little reason not get started.  

View the ONLINE DEMOS to learn more or visit CAPTALOANS to sign up now.

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Surge in Loan Modifications has Experts Scrambing for Help

March 25th, 2009 Posted in mortgage software
Mar, 25 2009
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Despite some initial signs that foreclosures were slowing the combination of a continued decline in home prices and downturns in the economy has ensured a continued supply of borrowers desperate for help. Most lenders will do almost anything to keep the borrower in the home and loan modifications have been endorsed as a practice to help desperate home owners. 

Brokers and lenders are actively staffing for the rush with many reporting a backlog of clients desperate for their services. It is estimated that more than 3 million home loans will need to be modified and but less than 5% have been completed so far. This has left mortgage brokers scrambling for tools to manage the influx of clients.

Captaloans has emerged as a favorite among large and small companies seeking loan modification software. The ability to track loan modifications, allow customer status online, and brand the software are all features offered by Captaloans.  Companies can get set up and the same day allow their customer to monitor the status of their loan online without having to invest in expensive hardware or software.

Captaloans has no registration fees or contracts.  This is critical for many mortgage brokers who were previously burned when the market collapsed.  Many were locked into expensive contracts for software they no longer needed.   “Having a month to month contract was an important criteria in our decision to go with Captaloans”. 

Visit Captaloans and start a no risk trial today.

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Type of Loan Modifications

March 21st, 2009 Posted in mortgage software
Mar, 21 2009
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TRADITIONAL MODIFICATION
The most common loan modification is the reduction of the interest rate.  Subprime loans often start out at an affordable interest rate and then the rates reset with a large increase. Loan modifications can make payments affordable again for as long as five years, sometimes more.

PRINCIPAL CHANGE
This reduces the actual amount owed on the house.  A federal program began this month to compensate lenders who grant a temporary reduction in principal to get monthly payments down to 31% of a borrower’s income. A lender is not required to use this program.

OTHER ADJUSTMENTS
If a borrower has temporary troubles a lender might offer a forbearance that allows a few payments to be missed, but they have to be made up eventually. If payments are delinquent, a repayment plan might be offered to add a few hundred dollars to future payments until the money owed is made up.

FUTURE MODIFICATIONS

A federal bill that has passed the House would allow bankruptcy judges to force a reduction in principal. It would apply only to Chapter 13 bankruptcies.

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Document Sharing now available in Captaloans!

March 16th, 2009 Posted in loan modification
Mar, 16 2009
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Captaloans now offers File Upload and Document Sharing!

Customers now have the ability to attach documents directly to a loan or lead record.  This truly makes Captaloans one of the most collaborative software tools for the loan modification industry.

In addition to sharing documents with your team you also have the option to “publish” documents and share them with the borrower.

 

Every account has been allocated 200MB of storage and 200MB of monthly bandwidth per user.  If you have 10 users in your account you will be given 2GB of free storage space.   If you are interested in taking advantage of this feature you must enable it for your users.  To enable this feature do the following: 

  1. Log into Captaloans using your Administrator Account
  2. Select the ACCOUNT Tab
  3. Select PLAN INFO
  4. Check the box agreeing to the Terms of Service
  5. Click Enable Sharing
  6. Click Done
Once Enabled you will see the File Upload link at the bottom of the Loan and Lead records.   If you wish to allow your borrowers to have access to uploaded documents you can check the box to publish your documents.  

We hope this improvement to our online loan modification software is well received and we invite you to submit feedback to our staff.  We will continue to improve Captaloans and in the next few weeks hope to offer even more exciting enhancements. 
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101 tips to market your loan modification business

March 13th, 2009 Posted in mortgage software
Mar, 13 2009
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Getting people to link to your website is very important if you want to improve in the search engine rankings and ultimately attract more customers.  The bad thing about this is it can take some time a lot of work to accomplish this.  There are a number of companies that offer to do this for you but I have not heard anything good about these services.  Generally if it seems to be good to be true then it probably is with companies promising you a “top spot” in Google.

Lets face it – a top spot in Google is worth a lot of money.  It can literally make or break a company.   If there was a quick way to achieve this then dont you think everybody would be doing it?   Luckily for us there are a few quick hit tips we can use to get our site ranked.  The guys as SEO Book do a good job at offering free tips and tools.   I would recommend their site for learning and here are you  101 tips to building links and marketing your website.

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