Posted by ikando on 1/27/13 9:14am
Msg #452471

Do you know about ActiveRain?

It's a site that I go to frequently for information as to what's going on in real estate. Though primarily focused on RE Agents, there is info from all areas involved, from lenders to the general public.

This article may be old news, but it's something to consider when we get calls for loan modification work. http://activerain.com/blogsview/3597414/beware-of-foreclosure-rescue-and-loan-modification-scams .

Reply by 101livescan on 1/27/13 10:19am
Msg #452474

I'm signed up with them, and with linkedin but for the life of me, I have yet to see any benefit from these sites...what about any of you?

This story, however, is a great warning for folks who are looking to throw money at trying to save their homes from foreclosure. In CA many people spent $$ on this effort, to no avail. If a modification can be done, it will be done by the lender's loss mitigation team, not by third parties. I have friends who threw lots of money at different parties, to no avail. All that happened was the title to the property became clouded, and the bank foreclosed any way and borrowers were out all those tens of thousand$. They got cash for keys and wiped their debt out, but ruined their credit forever.

Reply by CopperheadVA on 1/27/13 10:42am
Msg #452477

I occasionally get a private notary job from Active Rain

but that's it - no loan signing jobs.

Reply by Linda_H/FL on 1/27/13 10:47am
Msg #452479

I've seen many of these modification scams...

people who signed up with a company to get a modification, were told not to make their payments so they listened...where did they end up?

In the office of the attorney where I worked retaining him for multiple thousands of dollars for foreclosure defense. And guess what - no modification - imagine that.

Reply by Linda_H/FL on 1/27/13 10:49am
Msg #452480

Sorry - a little OT - responding to Cheryl.. :)

On topic - been so long since I paid any attention to my Active Rain account I forgot how to log in

Guess I'm not seeing much traffic from it, huh?

Reply by 101livescan on 1/27/13 10:56am
Msg #452482

Re: I've seen many of these modification scams...

Yes, said but true, the borrower is so desperate they will listen to whatever they "want to hear"...we can save your home...the modification person is pocketing the $$ that would otherwise go to pay mortgage payments.

What a scam!! Common sense should prevail, but doesn't as evidenced by all the folks who bought into what they wanted to hear...especially senior citizens...

Reply by ToniK on 1/27/13 10:55am
Msg #452481

I have one but haven't logged in since 2007/8 I think. Been pretty useless for me.

Reply by ikando on 1/27/13 11:33am
Msg #452487

I cannot say that I've actually received direct benefit by way of jobs from being on ActiveRain, but the information from real estate involved entities has been helpful. I haven't paid for membership, and still get access to most of the things I want to know about, i.e., mortgage companies, banks, credit unions, etc., who may be potential clients. Reading between the lines of the real estate agents' posts is also interesting to me to see the climate out there.