Santa Ana-Anaheim-Irvine, CA (1888PressRelease)
January 01, 2009 - An Advance Fee Agreement license has been issued to Corona, CA based Tycor Mortgage by the California Department of Real Estate (DRE). The agreement, which allows Tycor Mortgage to retain a fee to mediate between homeowners and lenders, has only been granted to less than 80 of the over 150,000 real estate brokers in the state of California.
The DRE has a strict process to regulate advance fees and advertising materials. In order for a broker to be approved, they must comply with a list of guidelines including but not limited to; no false, misleading or deceptive representations, no current or past violations and a specific date for full performance of the services promised under the agreement (10 Cal. Code Regs. § 2970.). California Real Estate Commissioner, Jeff Davi indicates that the decline in the real estate market has forced the department to take such measures in order to protect the interest of the people.
"Because of the severe downturn in the housing market, the demand for loan modifications services has grown substantially. That carries an increased potential for abuse from unscrupulous companies looking to take advantage of homeowners having financial difficulty." says Davi. "The primary objective of the DRE is to protect the public's interest in regard to the offering of loan modification services." A list of advance fee, approved brokers is available on the DRE web site by clicking http://www.dre.ca.gov/mlb_adv_fees_list.html
Communication is the most critical activity during the foreclosure process. Tycor Mortgage is bridging the gap between homeowners and lenders. They work to negotiate the terms of the mortgage that will ultimately keep the home from foreclosure and put the homeowner on a clear path to recovery. "Our goal is to get in front of the problem and act quickly while the homeowner still has leverage," explains Tycor's founder, Ty Youngblood. "Lenders today are bending over backwards to help homeowners. The problem is that people are not opening their mail or picking up the phone. They're just kicking the can down the road. If you position yourself correctly by knowing what to ask for and how to ask for it, you will significantly increase the chances for a successful loan modification."
Loan Modification Services offered by Tycor Mortgage are available throughout the state California. For more information call Tycor Mortgage at (877) 750-2943 or visit their website at http://www.tycormortgage.com
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