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  1. #1

    Experience w/ www.lossmitigation2008.com?

    Does anyone have any experience with www.lossmitigation2008.com and Decision 1 HomeSavers? They claim to be a loss mitigation company that helps people avoid foreclosure. I have spent a lot of time trying to research them and haven't found much.

    What I understand, so far, about the company: It appears that you pay them $500 or $1000 to sign up with the company to become a "LM Consultant" (LMC) and they will provide you with websites, marketing ideas and some training to generate pre-foreclosure leads. But, the LMC pays for much of the actual marketing for the pre-foreclosure leads. It doesn't appear to be MLM.

    Upon getting the leads, the LM Consultant gets the pre-foreclosure client's general information in the form of an application (no financial forms are collected from clients) and that is submitted to Decision 1 HomeSavers and they handle the rest. The LMC is then paid a fee of $350-$700 for each successful case that Decision 1 HomeSavers closes, which appears to be only loan mods and forebearance...I don't think they will work DIL and Short sales.

    It appears to me, by signing up, the LMC is more of a lead generator for Decision 1 rather than actual LMC who deals directly with the lender(s) for the client...but you get paid for leads generated for Decision 1.

    From experience, I know it takes a lot of work (hours, days and weeks) to handle a loss mitigation case...plus, it's a huge responsiblilty to take on. If I could generate leads, hand them off to Decision 1 HomeSavers and know this company would find an ethical resolution, and I get paid for it, I would be a very happy man. (pipe dream, I know).

    I'd like to hear from people that have either signed up with them or clients that have used their service...instead of the "walks like a duck, therefore a scam" responses.

    Thanks.

  2. #2
    Join Date
    Apr 2015
    Posts
    182

    Re: Experience w/ www.lossmitigation2008.com?

    Hello everyone. I have been in Mortgage Banking (wholesale) for 16 years and my business came to a stand still 2006. In May of 2006 I was hired as a LMS (not LMC) with Decision1 HS. I earned over six figures within my first 11 months. That being said it was a lot of work. D1HS made it easy because of a system that is built for starters and then handed off to the finishers, Loss Mitigation Specialist.
    Thank you D1

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