This is a great place to look for new clients.

I have not, nor would I, do that, without having good financing and could afford to increase the payment to the point that it would be rentable in the local market.I have a client with excellent credit that did that when the Vegas market was at a high.

A large competitor of mine in the area is offering this service and the jist of what I am understanding his goal is to negotiate a repayment plan that both the bank and the mortgage holder agree upon (ex: client is 3 months behind with a 750 a month mortgage.

As a hard money lender I had one client that has 3 deal failures on a similar transaction as the buyer had three lenders back out at the last minute.

Just recognize that they are not as aware of the risks as you are.Private money: Dumb money?

As a Property Manager, on certain types of rehab projects for clients (outside of "normal" repair and redecorating) we charge either 10% of the contract price, or a straight hourly fee (terms are negotiated at the outset of our property management agreement).

NYCinci,That has nothing to do with the agent being eager, rather it has everything to do with representing his client as he is legally bound to do.

Dave007I just had a client refinance a property that we had listed for a while.

Make phone calls to people that are currently clients.

A lender who has experience with the strict timetables and title customs in the reo industry.I have seen thousands of successful REO transactions, I have also seen some real disasters... lately I have been very lucky to deal with some great agents, clients, and asset managers here in the Carolinas...