My First Steps Launches New Online Wealth Building Divisions

Sept. 12, 2010 - PRLog -- My First Steps is expanding its services to include Mortgage Reduction, Real Estate opportunities and Wealth-Building.  Do-it-yourself loan modifications, principal reduction solutions, and forensic mortgage audits will be offered in the Mortgage Reduction Division.  The Real Estate Division will focus on the foreclosure industry.  Wealth generating courses and business opportunities will reside in the Wealth Building Division.

Mortgage Reduction Division
-- Loan Modification:  President Obama’s HOPE program was created to provide home loan modifications to distressed homeowners.  My First Steps offers do-it-yourself software.  The software can generate a loan modification package that meets the HOPE guidelines.  Clients will be pre-qualified for a loan modification; receive education on the process, and all the tools necessary to follow up with the lender.  The do-it-yourself software can also be used to assist in the settlement of car loan modifications and credit card debt settlement.

--Principal Reduction:  A significant number of homeowners owe more on their mortgages than the current market value (CMV) of the property.  Because the homeowner owes more than the property is worth, they do not qualify for traditional refinancing.  My First Steps offers two (2) principal reduction solutions.  The goal of each program is to reduce the principal owed on the loan to the CMV of the property.  Then, the home would be refinanced at 90-97% of the CMV.  This would create a positive equity position for the homeowner.

--Forensic Mortgage Audit:  In support of a loan modification or principal reduction, My First Steps offers a forensic mortgage audit.  An audit can reveal loan violations that are serious offenses of the Federal Consumer Protection Law.  Lenders could face stiff fines and legal consequences for breaking these laws.

A 2006, FDIC Office of Inspector General Report revealed that 83% of the institutions examined were cited for "significant" compliance violations, 43% of those institutions were "repeat offenders," and 85% of those repeat offenders were highly rated by the FDIC for their in-place compliance process.  Forensic audits can be used to leverage loan modification and principal reduction negotiations.  A free basic mortgage forensic audit is offered online here: http://www.my1ststeps.com/forensic_audit.htm.

Real Estate Division
Many new real estate investors are entering the market place with a dream and no real knowledge of what it takes to be successful in the foreclosure rehab business.  My First Steps will offer courses on buying and selling foreclosed properties, a nation-wide foreclosure list, and a service that matches investors with funding sources. A special course on “Apartment Building Mastery” will be available in October.

Wealth Building Division
My First Steps will offer an array of webinars and courses to introduce investors to new wealth building concepts and opportunities.  It is recommended that all investors start by viewing an informative video, “Money as Debt.”  The purpose of watching the video is to challenge the investor’s knowledge of the most basic wealth-building concept:  Where Does Money Come From?  The video can be viewed online here: http://www.my1ststeps.com/money_as_debt.htm.

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My First Steps began its loan modification consulting services offline three (3) years ago. In 2008, My First Steps began offering business opportunity research services, debt settlement, and marketing strategies to Internet entrepreneurs. My First Steps is currently developing its online Mortgage Reduction, Real Estate and Wealth Building Divisions. The company’s vision is two-fold. The first step is helping homeowners secure their current assets and get out of debt. The second, is to provide opportunities, knowledge and tools that build wealth. More information can be accessed online at http://my1ststeps.com.