The Rest Report calculates the Net Present Value of a distressed mortgage and it’s underlying value. One half of this calculation is the AVM, or Automated Valuation Model. The Rest Report pulls the current value of your property from a variety of online sources. This is a significant piece of information that can’t be trusted with just Zillow and Trulia, etc. The Rest Report polls 15 different sources for AVM. The address must be verified by the United States Postal Service.
In very rare instances, (I’ve never seen it, but the option is there) a Broker Price Opinion or other online valuation model may be used. Chances are, if you’re getting mail, this will be no problem. If your county has a record of your lien/mortgage, you have an address.
This is just one more reason the Rest Report is proving to be an unbeatable tool in presenting a foreclosure defense and mortgage modification application.
The initial part of the input data is the distressed mortgage owner financials. Basically, this is the financial explanation of why the current mortgage payment is too high. I email out a two page data info sheet that brainstorms all the expenses a distressed mortgage owner has and gives insight into the distress in pure numbers.
After the REST Report processes all the data that the lender needs in clculating a mortgage modification application, the next steps involve collecting proof of all the expenses and documenting the mortgage payment hardship.
What’s great about the REST Report is that it beats the lender with their own stick. It calculates and publishes information that the bank doesn’t want you to have. The bank wants a one sided conversation so that they hold all the cards in a mortgage modification negotiation.
Poker is a game. Loan modification should not be.
There’s no need or advantage to hiring any third party to negotiate for you. If you can appear in court for a parking citation, you can do this.
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The internet being what it is, certain search terms need to be empahasized so that you can find the best information. The REST Report is best classified as loan modification software, or mortgage modification software. It’s claim to fame is that you use it to calculate Net Present Value exactly the way the banks do, using the same software. It is best used as a do it yourself loan modification or do it yourself mortgage modification. For some reason, loan modification 2010 and mortgage relief 2010 are popular search terms.
This YouTube video says it all. Go here: How to Get A Beneficial Mortgage Modification Now Please ‘Like’ the video, will you? That makes it easier for others to find.
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Originally posted 2010-09-06 09:40:44. Republished by Blog Post Promoter
