I have conducted 17 deals since august of 07. 12 of which have been wholesales, 2 subject too's, and 3 short sales.I'm currently working on 2 short sales, 1 subject too, 2 loan modification and filtering about 60 leads.

You are also correct regarding putting this in perspective.Is a modification even worth attempting on a second home?

Interest rate modifications are a phony product being pitched for politicians to be able to claim that they are "sticking up for the little guy".

Any commercial lender will tell you if they'll do the deal after getting your vitals and pulling your credit but isn't commerical tanking right now?

Keep plugging away but Wells will want something for sure.If you want to keep the property and try a loan modification, talk to the loss mitigation department of Countrywide.

Second, the premise behind loan modifications are that people can afford a lower payment.

Loan modification (relatively unlikely on an investment property)6.

Tell him you have a friend that specializes in loan modifications and forebarences & that if you gave him their loan # he would talk to the loss midigation department for them.Then just call yourself with loan # & all your friends problems go away.Be careful though your friend & I've seen things like this before might feel alienated.

Even if your house doesn't get the loan modification I gotta think its lowers the bar on the market price for ALL homes.

Some of the info is kind of repetitive after reading his other book, but there is a lot of new and vital (in my opinion) info that this book covers.