Be cautions about phone and email solicitations from loan modification companies
In case you guys haven’t already figured out loan modifications can be big business for those that can make it happen.
When I say “make it happen” I’m speaking of marketing or persuasively attracting customers.
“The best marketer will always win.”
Selling a loan modification is no different than someone selling you a checking account.
If you’re thinking “You mean to tell me that I’m being sold a checking account, but I need it don’t I” you’re not alone.
I didn’t realize the bank was doing a sales job on me either until I got a job at a one…and boy are they good. Not that banks are not a good idea but we’ve been conviced that we actually “need” on like we need air.
Being sold by a bank can be hard to spot but every “free” feature you sign up for is really a sale.
Believe it or not, there is a transaction taking place. You’re giving the bank your money and they are providing the service of “watching it” for you.
Now as a banker my job was to convince you that our bank could “keep an eye on your money” better than you could, the banker down the street or the bed bugs under your mattress. Was this 100% true? Maybe, maybe not
Never-the-less, this my friends is banking sales 101. Sounds crazy if you really think about it? I digress…
Getting back to the point of this post…Just because you “need” a loan modification doesn’t mean you should act desperate and respond to any flashy piece of adverting that comes your way.
I’m not saying that everyone that voiceblast you a phone call or sends you and e-mail is bad. Just know that many of these companies are marketers first and self-proclaimed loan modification gurus second.
With that in mind make sure you choose wisely. Do your research and most importantly follow you gut. If the person you’re dealing with doesn’t sit well with you choose someone else.
