LoanMod.com was founded in 2006 by Moose M. Scheib, a social entrepreneur and Columbia Law graduate.
While working at a major law firm in New York City, Moose received a call from his uncle who was facing foreclosure. After exploring several options without success, Moose decided to reach out to the lender directly to work out a deal so that his uncle could keep his home—a house that had been in the family for 26 years. After several months of negotiations, the bank was convinced that it makes better economic sense to work with the homeowner rather than foreclose on the property and face more losses. A Loan Mod was born.
For the first loan workout company in America, Michigan—a leading foreclosure state—provided ample testing grounds to perfect the various loan workout processes and procedures. Initially launched out of Moose’s home office, he began going door-to-door to meet with families facing foreclosure, listening to their stories, and sitting at their kitchen tables.
As the successes piled up, various media outlets such as PBS, Forbes Magazine and Fox News began publicizing Moose’s efforts on behalf of homeowners. Soon banks, government officials, and think-tank’s were calling upon Moose to help fashion national housing policy to stem the tide of foreclosures.
Today, LoanMod.com operates in 48 states and boasts a national network of lawyers, counselors, and real estate brokers. LoanMod.com stands by its motto “Saving the American Dream”.
To achieve that vision, LoanMod.com sets out to protect homeowners and communities from the disastrous social and economic impact of widespread foreclosures.