Obama Mortgage: Why Loan Mod Mailers Will Grow Your Revenue
If you have a Wells Fargo mortgage you can refinance or modify your mortgage loan under the Home Affordable Modification Program, which is part of the sweeping legislation that was crafted by U.S. President Barack Obama under the 2009 Economic Recovery Act. Wells Fargo mortgages that are serviced by Fannie Mae or Freddie Mac qualify for refinancing under the plan, and many mortgages also qualify for loan modification. That makes right now a good time to refinance your Wells Fargo mortgage, especially if you are paying more interest than you can afford, or fear that you might become unable to make payments on a variable rate mortgage that has recently adjusted to a new rate.
With thousands of rate and payment reductions already completed there are still tens of millions more to be done over the next few years. Until the mortgage crisis is over the loan mod industry will thrive on the demand for lower payments, lower interest rates, and more affordable mortgages.
Loan Modification marketing is new but the principles of direct marketing for mortgages and finance remain the same. Depending on the size of the loan mod shop there are several very lucrative direct response advertising options available. Direct mail, voice broadcasting, predictive dialing, pay per click marketing, email marketing, TV, and radio advertising as well.
Only mortgages that were written prior to January 2009 will qualify for assistance, and you must be modifying the mortgage on a home that you live in and consider to be your primary residence. You must owe less than $729,750 on your home, and be willing to provide the lender with documentation of your income. Another important part of loan modification under the 2009 Economic Recovery Act is that you submit an affidavit of hardship that gives the lender and the government an idea of why you fell into financial straits and are unable to pay your mortgage payments. Be prepared to provide income tax returns and paystubs, as well as your previous two months banking statements for checking and savings accounts.
Also Loan Modification mail can be designed and printed in a way to ensure the mailer is opened and read. Perforated pressure sealed tear pack mailers or zip pack mailers work very well for loan mod mailers and in some cases marketers have seen as high as 5% to 6% response when paired with a great list and managed by a good direct mail company.
With thousands of rate and payment reductions already completed there are still tens of millions more to be done over the next few years. Until the mortgage crisis is over the loan mod industry will thrive on the demand for lower payments, lower interest rates, and more affordable mortgages.
Loan Modification marketing is new but the principles of direct marketing for mortgages and finance remain the same. Depending on the size of the loan mod shop there are several very lucrative direct response advertising options available. Direct mail, voice broadcasting, predictive dialing, pay per click marketing, email marketing, TV, and radio advertising as well.
Only mortgages that were written prior to January 2009 will qualify for assistance, and you must be modifying the mortgage on a home that you live in and consider to be your primary residence. You must owe less than $729,750 on your home, and be willing to provide the lender with documentation of your income. Another important part of loan modification under the 2009 Economic Recovery Act is that you submit an affidavit of hardship that gives the lender and the government an idea of why you fell into financial straits and are unable to pay your mortgage payments. Be prepared to provide income tax returns and paystubs, as well as your previous two months banking statements for checking and savings accounts.
Also Loan Modification mail can be designed and printed in a way to ensure the mailer is opened and read. Perforated pressure sealed tear pack mailers or zip pack mailers work very well for loan mod mailers and in some cases marketers have seen as high as 5% to 6% response when paired with a great list and managed by a good direct mail company.
posted by Vittoria @ August 06, 2011
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