Category: Internet

Mortgage Service in Los Angeles-Insights

When homeowners fall behind in their payments, it is often the mortgage servicing company that initiates the foreclosure proceedings. While some borrowers have been successful defending their home due to the servicer or lender being unable to prove it holds the original note, not many people at all are aware of the fact that there are often three servicing companies involved in a foreclosure action.

The first servicer is called the master servicer, and homeowners may never know who it is or have much contact with the company. However, its role is to oversee all of the other servicing operations and companies that will be involved in the mortgage or any foreclosure proceedings.

It is the subservicer that the homeowners will have the most contact with during the time they are making payments on the mortgage. The subservicing company is the institution that collects payments from borrowers and maintains the escrow accounts for paying property taxes and homeowners insurance. If the subservicer does not take care of some of these services in-house, they may contract with tax service professionals and insurance companies, among other.Visit our website to get free information about Mortgage Service in Los Angeles, California.

The third type of servicer is called a special servicer and is typically involved only when homeowners fall behind. After sixty days of late payments, the special servicer may begin loss mitigation attempts or just begin the foreclosure process. Again, this servicing company may contract out some of its functions, including loss mitigation, property inspection, or hiring local attorneys to foreclose on the house.

With all of the allegations of mortgage servicing fraud over the years, including misplacing on time payments, forced placed insurance, underfunding escrow accounts, making late property tax payments, and lying in court to cover up such activities, can anyone really trust these companies? They act like glorified collection agencies in harassing borrowers and actually make more money from defaulted loans.

Mortgage servicing companies are generally paid a flat fee based on the borrowers’ monthly payments, usually 0.5% of all payments collected. But they are given a huge incentive to take advantage of unsuspecting homeowners because they retain 100% of any late payment charges or other fees. So the servicer has no incentive to help homeowners and make sure they pay on time or keep accurate records.

However, the companies have every incentive to “lose” payments and tack on a late fee. They have every incentive to put forced insurance on a home through an affiliated company, raise the monthly payment, and charge fees. They have every incentive to underfund escrow accounts, take money from the regular monthly payment to make up the shortfall at tax time, and then slap on a late charge to the account.Servicing companies can provide a valuable service in the mortgage market by making it easier for lenders to engage in other business than collecting payments and administering accounts. But when these companies are given huge incentives to treat homeowners like deadbeats or turn them into foreclosure victims, one has to wonder what side the banks that hire these companies and agree to these terms are on.

Google My Business – Advantages

Google is the king of search engines. Therefore, it’s in your best interest to make it as easy as possible for Google to let Google know more about you and your business.

One of the easiest ways to do this is by submitting your local business to Google Local Business Center. You can begin to see immediate results after doing this.Have a look at GMB photos for more info on this.

Here are the top 9:

Google will give your site more authority because they know it is a real business, giving you better search engine ranking for your keywords.Add your website to Google Maps so potential customers can instantly find out more about you. One of the hottest new ways to find local businesses right now is through Google Maps.Insert specific keywords into your business description. For example if you’re a financial planner, you can add retirement specialist, CFP®, CPA, wealth management, annuity specialist…etc to your title. This will give you a leg up on those who just have their name.

Better control the information including name, phone, number, address, and hours of operation.
Add any certifications you have next to your name. For example, you could be listed as John Smith CFP®.
Google allows you to see how customers are finding you via Google Dashboard. For example, you’re able to know if a customer came from Google Maps of Google Search and the keywords that were typed in. This will allow you to optimize your marketing efforts.
Add a picture of your office, which will appear in Google Maps, so new customers can identify your building. This will make it easier for customers to find you.
Allows customers to review and rate your services. (Hopefully a benefit to you)
It has an infinite ROI because it’s free!
Sign your local business up for an account today. All it will take is 15 minutes out of your day.

Monitor how people are finding your website. The more information you know, the better you can optimize your marketing efforts.