Well it seems that just like short sales everyone in Las Vegas is getting on the Loan Modification band wagon.

The difference is this time almost 99% of everyone is in violation of the laws established by the Mortgage Lending Division.

From what I understand starting Monday the Division is coming after loan modifiers regardless of whether they have a real estate license, mortgage license or signs all over town.  Everyone will be treated to the same $10,000 fine per violation as well as put their current license in jeopardy.

You may want to ask your self these questions if you are participating in the loan modification process. 

Having a mortgage license or real estate license does not exempt you from violations but actually impacts you more. YOU COULD LOSE YOU LICENSE.

Are you:

Giving financial counseling, debt counseling or budget counseling

Contacting a creditor on behalf of a homeowner

Giving homeowners advice, explanation or instructions regarding curing a default or reinstatement of a mortgage or lien.

COLLECTING A FEE PRIOR TO THE ENTIRE SERVICE BEING PERFORMED TO 100% SATISAFACTION OF THE CLIENT.

If you are a licensed real estate agent under 645 A you cannot conduct these services out of your real estate office.

If you are a mortgage lender under 645B you must have a separate sign within you office space designating areas within your office where loan modification and counseling is to take place.

In most cases both real estate agents and mortgage agents will need to post a $100,000 bond with the Division of Consumer Affairs.

THE POSTING OF THE BOND BY ANYONE NOT LICENSED IN NEVADA BUT OPERATING IN NEVADA IS AN ABSOLUTE MUST.

If you really want to do loan modifications and do them quickly call or e-mail me today.

We have a 99% success rate and it generally takes us 30-45 days to complete the entire modification process.

I can show you how to get paid rather than get fined doing loan modifications.