Monday, December 15, 2008

REAL reason lenders delay things - Will Not Find This In Any "Guru" Course

About 80% of loans are covered by mortgage servicers, they get paid to deal with you and I, collect payments, service escrows, etc. On average, when payments are being made on time, they earn .025%. Once payments are late, on average they earn .050%.....that's right , THEY EARN TWICE AS MUCH "SERVICING" the loan while you are behind on payments and even you do not make payments, THEY STILL GET PAID!!!! Drag your short sale or loan modification out for 12 months, and they earn twice as much as they would otherwise.....ever wonder why some homeowners are 12 or more payments behind and still have not gone to foreclsoure, BECAUSE YOUR SERVICER IS GETTING PAID!!!!!!!! Mroe good stuff to come!!!!

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