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Whether you are in the mortgage or the debt settlement business–loan modification leads are a good bet for prospects. If you think about it loan modification implies a crushing debt problem. Assuming that a homeowner is holding one of the largest debt burdens an average customer will encounter, a loan modification lead is someone in real debt relief need.

Why Loan Modification Leads?

If you are in the debt settlement business you may be wondering why I would recommend loan modification leads. The answer has a lot to do with detecting the intent of the person inquiring and how close they may be to taking action.

As you know most debt leads are people very early in knowing (or admitting) they have a debt problem. That means you are spending much of your time convincing them that they need to take care of their debt problems now.

To the contrary, someone who has inquired about a loan modification knows they have a crisis on their hands. They also are probably a bit more sophisticated, in that (believe it or not) most consumers still don’t know what about loan modifications.

Opportunity to Set-up Mortgage Referrals

It is also a fair bet that if someone is having problems paying their mortgage they are there because of credit problems, credit card debt, installment loans and the like. Sounds like the perfect person for you, in the debt settlement business, to help.

Ultimately, getting them into a stronger financial situation to support that mortgage payment.

However, you might not have the expertise or licensing in your debt settlement practice to solve the mortgage issue. Never fear, this is a perfect opportunity to set up a referral relationship with a mortgage broker or loan modification specialist.

Ideally, these loan modification leads will not only get you some more debt settlement deals, but they may also get you some referrals flowing from mortgage partners.
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