Good morning,
We have another exciting week in real estate. Markets across the country are starting to see some great acticity. I am sure many of you come encounter with loan modifications. What do you do with these people? Who do you refer them to besides call their mortgage company? I was reading my monthly real estate magazine. This month's topic was loan modifications. Many people are upside down in their home in Arizona. We are one of the hardest hit ares in the country.
So, I am reading my trade journal when I read a section about a licensed real estate agent who recommends a person to a local loan modification company. The realtor is not receiving any compensation for the referral. The realtor just wants to help out. However, it states that the realtor could be open for a lawsuit if they loan modification does not work out. How many of us have referred people to a local loan mod company just to help out? Beware-broker is open to liability. The article stated that the broker will need to check their E and O insurance for such coverage.
What do you do as a licensed real estate agent when people need assistance? Do you want to be open for a lawsuit?
WHAT DO WE DO? LOVE TO HEAR YOUR INPUT ACROSS THE COUNTRY..........
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.
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