You Have Options
Solving Your Mortgage Crisis Just Got Easier
If you are having trouble making your mortgage payments, the strain of figuring out what to do can be overwhelming.
Why do it alone when you can have a dedicated, extensively trained professional on your side at no cost to you?
Both lenders and the federal government are putting new systems in place to help you avoid foreclosure. For access to free, detailed information explaining these programs, simply download the report below.
On this website, you can find information regarding all of your options. When you call me to find out what you can do to take advantage of these options, I will show you how having straightforward solutions to your mortgage challenge can help you to breathe a little easier.
For more specific information and to see if you qualify, please, call me today at 360-600-1982. The sooner you call the sooner you can breathe a sigh of relief.
Stop Don't Walk Away From Your Mortgage
At a Crossroads?
Walking away or "strategically defaulting" on your mortgage is not the answer. You will find that there is nothing strategic about foreclosure, especially when there are solutions to avoid it.
You should know that you have options, and that you are not alone. More than 25% of American homeowners now owe more than what their homes are worth, and millions more are having a hard time paying their mortgages.
I've developed a free, detailed report on foreclosure alternatives you can download below. Download it today and give yourself a green light for a solid financial future.
The sooner you take this step, the more time you'll have to act and move toward a more promising tomorrow.
Understand your options and learn what you can do next
You are to be congratulated for your courage and dedication to finding the best solution for your circumstances. Now I want you to have all the information you need to confidently make decisions about your financial future.
Facing the possibility of foreclosure is a challenging situation … for anyone! And today, homeowners are finding that with the right information and an informed agent helping them through the process, they are able to find solutions that work for them and their families.
I have made this report absolutely FREE of charge to you, so you can act quickly to identify options that work for you. Just enter your information and click submit, and you will automatically download this important report.
In your situation, the worst thing you can do is wait. Get this vital information now and begin the process of moving on to better, more certain times.
If you have any additional concerns about this issue, or your circumstances are urgent, please give me a call.
7 Short Sale Myths
There are millions of homeowners just like you who are looking for answers and don’t know what to do. You’re not alone and you’re in the right place.
As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Despite my best efforts, there’s still an overwhelming amount of misinformation about the options available, especially short sales.
To give you a better idea of the short sale option, and to set straight some of the myths you may have heard, I’ve prepared a free report just for you - please fill out the information below to receive your free report. This report will clarify the following myths:
- The Bank Would Rather Foreclose Than Bother With A Short Sale
- You Must Be Behind On Your Mortgage To Negotiate A Short Sale
- There Is Not Enough Time To Negotiate A Short Sale Before My Foreclosure
- Listing My Home As A Short Sale Is An Embarrassment
- Short Sales Are Impossible And Never Get Approved
- Banks Are Waiting On A Bailout And Not Accepting Short Sales
- Buyers Are Not Interested In Short Sale Properties
These ideas are potentially harmful to homeowners seeking real solutions. I hope you’ll review this information for yourself or share it with a homeowner in need.
In these times, we all need to know the truth to know how to get back on track.
If you have any additional concerns about this issue, or your circumstances are urgent, please give me a call.
The Truth About Mortgage Modifications
If you live in Washington, there is a new law! Lenders must meet with homeowners in person. Click here to learn more. The decisions you make as a homeowner today hold a profound impact on your financial future. However, it is important to safeguard yourself from misinformation and fraud. Get the facts regarding your situation and always have a contingency plan.
For those who qualify, a mortgage modification is the ideal remedy to their financial distress. I’ve prepared a FREE report on the truth about mortgage modifications to guide you through this important process. Simply provide your information below to get this valuable information, and feel free to pass it along to anyone who may need it. One homeowner lost to foreclosure is one too many!
As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Together, we can formulate a plan to get back on track.
If you have any unanswered questions, or your circumstances are urgent, please call me today
360-607-4226
503-756-9759
Chase, Wells Fargo borrowers getting cash to complete short sales
Two of the nation’s largest lenders are quietly offering some delinquent homeowners a deal.
JPMorgan Chase & Co. and Wells Fargo & Co. say they give select borrowers behind on their mortgage payments $10,000 to $20,000 for agreeing to short sales, which means the homes are sold for less than what’s owed on the mortgages.
Most banks figure they’re doing homeowners a favor simply by signing off on short sales and forgiving the amount owed. But in some cases, Chase and Wells Fargo borrowers receive that and cash at the closing.
Lenders routinely hand homeowners a few thousand dollars if they leave the properties in good shape after foreclosure. That’s known as “cash for keys.” Also, homeowners are entitled to $3,000 of government money if they complete short sales through the Home Affordable Foreclosure Alternative program.
But real estate agents and other industry observers say they aren’t aware of other major lenders offering such sizable incentives for successful short sales.
“It looked, to me, like it was a come-on,” said Allison Adler, an agent for the Keyes Co. in Weston.
But Adler checked and discovered it was legitimate. Her client, Sara Horowitz, received $10,000 last week from Chase when she completed a short sale of her Davie townhouse.
“I have to say, this extra bonus from Chase was a lifesaver for me,” Horowitz, 39, said Monday. “I used it to help me get into a rental unit. It was perfect.”
Wells Fargo and Chase don’t specifically address why they offer the money for short sales. Rather, they explain they’re cutting their losses in choosing to forgo the potentially lengthy process of foreclosure.
“Our goal is to help as many people avoid foreclosure as possible,” Chase spokeswoman Nancy Norris said, pointing out that the bank has completed more than 110,000 short sales nationwide since early 2009.
Wells Fargo offers the cash to homeowners in Florida and other states “where the foreclosure process is lengthening,” spokesman Tom Goyda said.
The average foreclosure in Florida took 619 days for cases completed in the first three months of 2011, according to RealtyTrac Inc., a foreclosure listing firm. That's more than 30 percent longer than cases completed a year ago.
The lenders decide whether to make payments after considering individual circumstances, and they don’t disclose what those are. The banks won’t say how many people have been offered the cash.
Wells Fargo and Chase are the nation’s second- and third-largest lenders, respectively, behind Bank of America. A spokeswoman for Bank of America said she couldn’t provide any information on incentives for short sales.
Chase and Wells Fargo don’t say how many home loans they own in Florida.
Wells Fargo has 700 offices and $66.1 billion in deposits statewide, according to Federal Deposit Insurance Corp. data as of June 2010, the most recent period for which statistics are available. Chase has 247 offices and $10.4 billion in deposits in Florida.
In 2008, Chase acquired Washington Mutual, and Wells Fargo took over Wachovia Corp.
The money for short sales is an effort by the lenders to be viewed as good corporate citizens as they expand aggressively in Florida after the banking takeovers, Miami-based banking analyst Ken Thomas said.
Ward Kellogg, chairman of Paradise Bank in Boca Raton, said his community bank occasionally has offered money to homeowners who cooperate in short sales. He figures Chase and Wells Fargo are agreeing to the incentives so that they can write off the bad loans as soon as possible.
“Without cooperation, it’s going to take a year and half,”Kellogg said. “With cooperation, it could be 30 to 60 days.”
Why Strategic Defaults are NOT Strategic
Generally, it is considered, a property owner’s decision to stop making mortgage loan payments even if the property owner can afford to make the payments. A property owner normally considers a strategic default when the value of the property is below the mortgage balance due a lender. Furthermore, there is a concern that monthly mortgage loan payments will become a permanent drain of available cash savings with little chance of recovering the loss. The rationale is that it does not make economic sense to make mortgage loan payments on a property that has no equity or any hope of gaining equity.
Strategic defaults are generally associated with individuals who stop making mortgage loan payments. However, we are finding that strategic defaults are being used for credit card payments, business loans, and various personal loans.
One of the greatest forms of wealth comes from real estate ownership. It is now estimated that trillion dollars of real estate wealth has been lost. Furthermore, individuals and investors own properties with unaffordable mortgages payments that have principle balances greater than the value of the property.
There are many people who have decided to “intentionally” stop making mortgage loan payments, even if they can afford to do so. They have decided to make a so called “strategic default”. Generally, the primary rational for a strategic default is economic. Currently, strategic default is associated with home mortgage loans. However, strategic defaults is a tool used for credit card debt, business loans, home equity lines of credit, and personal loans.
There are moral and social issues that arise when making a decision to stop making loan payments even if the money is available. These moral and social issues intersect with an individual’s “rational” decision to stop losing money. Our society general places a strong taboo against breaking an agreement. Furthermore, there are social costs to consider when an individual decides to abandon a property and stop making mortgage payments.
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Each state has a unique set of laws and rules as it pertains to processing a judicial or non-judicial foreclosure. Make sure you understand the rules in your state and make sure you speak to a qualified professional.
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A judicial foreclosure gives the borrower the right to defend against a foreclosure. Therefore, a borrower must always exercise his or her right to defend a foreclosure even if the borrower has missed mortgage payments. The most important step towards protecting your right to defend yourself is to properly file a written answer/response to any foreclosure papers served upon you.
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In order to defend or challenge a non-judicial foreclosure it is necessary to start a case in court. In other words, you must file a lawsuit, get before a judge and establish the right to defend or challenge a non-judicial foreclosure. In most instances, you will need to hire an attorney to help prepare the paperwork.
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It takes less time to auction a property in a non-judicial foreclosure then a judicial foreclosure.
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Condo’s and houses are considered real estate. Cooperatives aka Coops are not considered real estate. Instead a Coop consists of the ownership of shares in a cooperative association and a proprietary lease for the Coop apartment. The “foreclosure” process is different when a Coop owner does not pay his or her mortgage. The rules for judicial or non-judicial foreclosure do not apply to a Coop. If you are in default on a mortgage against your Coop, make sure you speak to an attorney.
The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice.
It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.