Yanni Raz is a mentor for many in the Real Estate Mortgage industry, Yanni Raz is been tutoring many homeowners in California and help some also to save their homes. http://www.homesinsale.com
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Nov
06
Selling to Avoid Foreclosure
Posted by: | CommentsAre you currently at a financial hardship, and possibly going into foreclosure? Not sure of your options? Well the good news is there are ways that you can save your home and your credit, and there are people out there who can help. Selling your home to avoid foreclosure is one way to get out of the hole.
You are probably asking how you can sell your home to avoid foreclosure if you are already up side down on your mortgage. Here is how: first off you need to face the problem head on, and not ignore notices from your lender. Contact them as soon as possible to avoid the foreclosure of your home, and let them know of your hardship. Depending on your situation, they may allow you a repayment option, most likely if you are upside down on your mortgage, you are in no position to be put on a payment plan. The best option would be to sell your home to satisfy the debt and avoid foreclosure.
A short sale is the best way for you to save your credit and avoid foreclosure. A short sale is when the bank and or lender agrees to sell your home for less than the amount that is owed on the note. Keep in mind though, you will not be making a profit on the sale of the home, but you will be relieved of the outstanding debt. You must be able to sell your home in 3-5 months, your lender will provide you with an appraiser to see if the home meets certain guidelines, and you must be at least 2 months delinquent on your mortgage payments. Short sales are hot on the market right now, so it wont be too long before an offer is submitted. Once an offer is submitted to the bank, the bank will ultimately decide whether it is close enough to the asking price. The bank needs to make sure that they are making the most money possible on your home, so that they are not left with a debt in the end. A good offer usually comes $25,000 within the asking price.
Selling to avoid foreclosure will not save your home, but it will not hurt your credit as much as it would if the house went into foreclosure. In return you will be able to purchase something else in the near future once your back on your feet. Speak with your lender or Real Estate agent today to see how you can get started on this process.
Nov
05
I am a Marine, just got stationed at Henderson Hall in Arlington and would like to purchase a foreclosure home in Northern VA area. what screenings do i need to do inorder to get a property at a good deal and avoid any legal complications? Is it best to go to the court house or use web sites like realtytrac.com?
Nov
04
How Do You Avoid Foreclosure?
Posted by: | CommentsAre there other options besides paying off your past due bill?
Nov
04
Avoid Foreclosure Rescue Scams
Posted by: | CommentsAvoid foreclosure being fooled by foreclosure scams. There is no secret that foreclosures are plentiful across the nation and of course there are always a few who try to take advantage of someone else’s misfortune. Before seeking help, learn how to avoid foreclosure rescue scams that mean you no good.
Here are a few scams to be aware of as you try to find a solution to your foreclosure dilemma.
Pay Upfront Scams
Some scammers request that you pay them for free upfront. In exchange for this fee, you are promised a delay in your foreclosure to allow you to pull things together. This is illegal. Companies cannot collect fees before performing a service and should only be paid after you see legitimate results such as new payment structure, refinance, or whatever it is that they have promised you.
In most cases, these companies can charge an upfront fee of $2,500 plus monthly payments. Well, if you had $4,500 to spare, you could work with the bank to pay down your delinquent balance. Many of these companies claim that they can stop foreclosures by finding loopholes in your mortgage agreement. Don’t fall for this.
Transfer Title Scams
Never, ever transfer the title over to a company who claims they can help you avoid foreclosure. They are taking ownership of your property and the chances of you getting it back are slim to none. These types of scammers will tell you that you can buyback your home with lower mortgage payments, but guess what? It doesn’t happen.
When seeking the advice of a foreclosure expert, you only want to deal with established companies who have a proven track record of helping individuals avoid foreclosure. Companies who want you to pay a large amount upfront or have solutions that sound too good to be true are not the type of people you want to deal with. Take advantage of a free consultation to help you decide what your options are and visit: http://www.savemefromforeclosure.com/
to find out more about Avoid foreclosure, take moment and visit us at http://www.savemefromforeclosure.com/
Nov
03
Assistance in Avoiding Foreclosure Sale
Posted by: | CommentsAssistance in Avoiding Foreclosure Sale There are two principle sections to the Obama loan modification programs plan. The first section is for those who need to prevent foreclosure and are on the verge of defaulting because they missed some mortgage payments. The Obama mortgage bailout plan encourages banks and other lenders by giving monetary incentives for every successful modification they can do for people who need to stop foreclosure. The other side of the plan was initiated for the people who still have not missed their payments but cannot refinance their mortgage because the value of the house has dropped so low below the mortgage value. The Obama bailout plan aids these kinds of homeowners by assisting them refinance the mortgage to bring down the mortgage payments. There are several guidelines though that limits qualification to this category. Assistance in Avoiding Foreclosure Sale This is the simplified outline of the plan, but there are plenty more details within that would be too time consuming to study piece by piece. Here instead are some of the important things one needs to remember for those who need to utilize this government bailout program just for a modification. Loan Modification Programs For those who need their loans to be modified because they cannot keep up with the monthly payments, there are some criteria that need to be met in order to qualify. First, the mortgage in question needs to have been secured even before the start of January 2009. Next, this must be the principle living space of you and your family. If it is just a second home then it will not qualify. Thirdly, the original mortgage you should have cannot exceed 729,500 dollars. Fourth, a letter detailing one’s financial hardship must be approved. If the financial hardship was caused by mere carelessness, then your possibility for approval will be low. Firth, all documents regarding tax returns, pay stubs, and income should be complete. Finally, you will need to take advantage of financial counseling if the overall debt you owe is greater than fifty percent of your monthly income. Assistance in Avoiding Foreclosure Sale Some say or just assume that you must have been behind or delinquent in your home mortgage. This is wrong. Even if you are just predicting the financial hardship to come, you can already avail of the modification program. This will save you and the lender money, time, and effort. If all these sections are thoroughly successful then the next thing you have to do is to see how much you can lower your mortgage payments It should be about 31% of you or your total household income or lower. On the other hand, the interest rate can be brought down to just 2%. Assistance in Avoiding Foreclosure Sale So there you have the information. Do not fear the process of getting into loan modification programs to prevent foreclosure of your home. There is even a trial period so that you can see if your newly modified loan really conforms to your income and your lifestyle. Hopefully, it already does so that you won’t have to make any more modifications. Assistance in Avoiding Foreclosure Sale
If you need help with your loan modification, please call 619-866-4700 or visit http://www.clmod.info
