San Diego, CA (1888PressRelease)
January 05, 2009 - The Department of Real Estate recently granted approval to San Diego based Veritus Funding to perform loan modifications in all of California. The approval will allow Veritus Funding to legally accept an advance fee to mediate between lenders and borrowers while helping them restructure their existing mortgage repayment programs.
This approval by the D.R.E. is an attempt to help quell the increasing foreclosure statistics as well as discourage additional ex-mortgage and real estate brokers from continuing to target struggling homeowners. The subprime loan bubble, which netted many of these real estate professionals upwards of over a million dollar a year commissions, came to a halt last year and from that the illegal loan modifications began. Currently there are only sixteen companies who have been granted approval and with the amount of adjustable rate mortgages continuing to rise right along with the unemployment rate, the move could not come at a better time.
“With the approval from the D.R.E.,” states Mark Brough, President of Veritus Funding, “we’ve seen the tide of foreclosures begin to slow. There are a number of people who we’ve been able to help find a way though this mortgage crisis. Needless to say we’ve been quite busy.”
Veritus Funding’s Loan Modification program is available in all of California. For more information call Veritus Funding at 1(888) 563-5275 or visit Veritus Funding’s website: www.veritusfunding.com.
###
