Foreclosures

. I follow a lady name Christina Smallhorn on YouTube. She says that the foreclosure hype is beginning. I’m not sure if it’s hype or not but my question is for all the notaries is there a role for notaries in foreclosures?

Foreclosures itself - NO, but they could possibly offer notaries in the midst of a poor economy is more Loan Modifications, Refinancing, Short-Sells, etc…

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Not refis, royndixon, but certainly loan mods. The excellent loan modification programs in place now fill a need that was sadly lacking back in 2009 - 2012, and I believe will significantly reduce the number of foreclosures. NSAs get work regarding loan mods both from lenders as well as from individuals looking for a notary for assistance with the paperwork, and can provide a badly needed influx of business.

There won’t be any foreclosure work where you’ll meet with the homeowners. I’ve been contracted by TCs and Law Firms to notarize foreclosure documents. One thing they’re looking for is an independent notary that has nothing to gain accept the signing fees. This is limited to only my region and wide spread across the industry. The loans mentioned were commercial loans, not residential mortgages.

The foreclosures wont be crazy like 06-09 people still have so much equity in their homes that Helocs will stay in the forefront. Its nothing but hype at this point.