San Diego, CA (1888PressRelease)
November 12, 2008 - Veritus Funding was recently selected by the Department of Real Estate to become one the few licensed funding companies in the State of California to mediate in loan modifications.
With the number of homes falling into foreclosure over the past year, over 766,000, the Department of Real Estate has taken notice and moved a plan into action in order to dissuade unscrupulous actions from happening to unsuspecting lenders and borrowers in this time of crisis. In order to regulate the loan modification process, the Department of Real Estate has been issuing compliance orders to do Loan Modifications in the state of California.
“Currently, in order to carry out a Loan Modification in the State of California,” states Mark Brough, President of Veritus Funding in San Diego, “one not only needs to have a Real Estate Broker’s License but they must be approved to have an Advanced Fee Agreement.”
Under approval from the Department of Real Estate, Veritus Funding has been licensed to work closely with borrowers and lenders. If a Notice of Default has not been recorded against the property, Veritus Funding may negotiate a possible resolution between the two and ask for a payment in advance for services. This is called an “Advanced Fee Agreement” for which Veritus Funding has been approved by the California Department of Real Estate. In addition, if a borrower is in foreclosure then they may be referred to The VanDerSchuit Law Group which who are licensed attorneys experienced in mortgage and foreclosure law.
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.
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