Ted Schmidt's (tcsenter) Blog

Freddie Mac has agreed to start chipping in money for loan modifications, repayment plans and short sales.Finally there is now more incentive for the loan servicing companies to do loan modifications.  Until now, it was often more profitable for a servicing companies  to let the property go to fo...

How Exclusive Are These Leads? That's a good question that I am frequently asked.  My response has always been the same, ".. well, they are non-exclusive" as they are sold up to three times.  But today I actually ran the numbers on the last 500 leads that have been sold. 76 leads were sold 2 time...

With the passage of the housing bill by congress it goes to the senate who will approve it and then to President Bush who has indicated he will sign it.  Undoubtedly a positive thing for the housing and mortgage market in the near to mid term, our government once again will print money leading to...

Loan Modification - Free Consultation Act now! Pending legislation will call for the government to share in the future appreciation of your home unless you modify your loan before the proposed bailout becomes law.   The government has mandated mortgage lenders to change the terms of the bad loan...

With the clamp down on new mortgage lending, falling home prices and record foreclosures, the time has never been better to take advantage of the incredible opportunity helping homeowners modify their loans. Lenders have been issued a mandate to modify toxic loans written over the last few years ...

As home prices continue to fall and REO inventories rise, greater pressure will be on homeowners to walk away from over encumbered property.  The next shoe to drop will be "A" paper borrowers that will be pressured to walk away from loans that can not be refinanced and homes that can't be sold. W...

The Washington Post reported that we have reached an all time high rate of foreclosures and now it is not only sub prime mortgages that are going bad but the "A" paper loans are going in default at a faster rate than the sub prime. I expect to see home values continue falling into the third quart...

I put up a website offering consumers facing foreclosure a free loss mitigation consultation. The response has been fantastic. While looking at the leads I noticed many of the homeowners want to sell. I thought this might be a good source of leads for short sales. To look at the leads go to www.l...

If you are like most loan officers, you are finding it more difficult everyday to earn a living originating loans.  Tighter lending requirements and declining home prices has turned loan originators into minimum wage earners.  Experts agree that it will be a few years before the industry can reco...

Watch this youtube video and learn how to buy loss mitigation leads.