Oct
14

Should I work for a new loan modification company?

By
homeowner loan

I have a temp agency who is trying to set me up with a temp to hire position in inside sales selling loan modification products to homeowners whose homes are about to go into foreclosure. I know there are a lot of homes right now going into foreclosure, but should I consider this opportunity? This is a new business getting started with seven reps that eventually will eventually expand to 30 reps. I may have the opportunity to get into management if I do well to begin.
In reference to first answer, this is one of the concerns I have had about the position.

Real Estate Professionals
Categories : homeowner loan

3 Comments

1

Understand that this sort of business is going to be short term. Within a couple of years, there will no longer be a need for loan modifications.

2

This is a “boiler room” job where you cold call 1,000 people who have had a foreclosure notice recorded. You are telling them to pay you for what they could do for free…. getting their lender to lower their payments and/or interest rate.
When the current realty bust ends, there won’t be any more loan modifications. All 30 will be terminated.
But you just might learn something about the realty business and that may be worth doing. /

3

If you are good in sales- go for it, but expect this to be more like telemarketer job and you will be working with the script, calling people every day and try to sell them the service.

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