A few years ago, there was absolutely no way you could get a better return on your investment than by buying a debt consolidation lead. These mortgage leads were worth their weight in gold. These were people with sizable amounts of consumer debt, and they typically had higher interest rates on their mortgage. And, just to sweeten the pot, it wasn’t very hard to get a debt consolidation loan lead that also had great credit.

But, the real reason that these leads were so strong was that there were so many different programs available to send these borrowers through. If they did not qualify for Conventional financing, you could look to the FHA program. If they did not qualify for the FHA program, there were literally hundreds of different Non-Conforming lenders out there. Each one had their own unique niche, and if you looked hard enough, it was very rare that you ever had to turn a client down.

Now, granted, the interest rates on these sub-prime loans were not great, and to make matters worse, they were, for the most part, two-year adjustable rate mortgages. But, the good thing about debt consolidation loans was that when you offered a refinance at 9%, it was still considerably lower than the interest rates on their credit cards, and as a result, you could save your borrowers considerable amounts of money on a monthly basis.

Well, as the lending market has tightened up, it has become very difficult to obtain a debt consolidation refinance. Consolidation debt lead mortgage loans are simply not able to be handled the same way they were in the past. It just does not happen anymore that you can do a cash-out refinance and consolidate all of your borrowers’ credit cards. Home prices are falling and LTVs have been cut. So, most brokers have decided that debt consolidation leads no play a role in a good marketing strategy.

But, the important thing to remember here is that these leads still have a lot of great use. It is certainly true that these borrowers are looking to consolidate all of their debt. And, it’s also true that you probably won’t be able to do that. But, the real underlying need of these borrowers is simply to lower their total monthly payment. With the rates as low as they currently are, this is not very hard to do, even without consolidating any debt.

When used in this manner, you’ll see that most debt consolidation leads will actually just become straight refinance leads. When you are able to save them 200 dollars on their monthly housing payment, they will be just as excited as if you had been able to pay off all of their credit cards.

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3. The Kind of Debt Leads You Should Buy
4. Reverse Mortgage Leads Are Your Entry to the Next Level of Origination
5. Exclusive Mortgage Leads Are Your Best Bet To Increase Your Business In The Upcoming Year