Facing Foreclosure?
9 options
Ms. Weston's article on MSN's Money Site shows there is a serious need for our services. (link to article)
"The number of people asking for appointments to talk about foreclosure is definitely up, are really putting a crunch" on homeowners with adjustable-rate loans.
We are trained by Nouveau Riche, in the ethical transactions of real estate. We will show you your options and do everything we know in helping to prevent foreclosure. Just look to the right to see we know of 11 options as well as the pros and cons of each. Email us today.
What we Do
Making the tough choice, to give up your home, instead of going through foreclosure and having your credit irreparably damaged for up to 10 years is terrible emotional burden. It takes a dedicated team of people to help you in this transition.
Our company works with the distressed home owners' lenders, to negotiate a short sale, potentially saving the distressed home owner from further damaging their credit. We have the specialization to understand lenders concerns and distressed home owners' needs. Our team locates End Buyers or Investors to purchase a distressed home through the short sale process.
WE Work with your Real Estate agent / Realtor®. We have over 350 Short Sales to date of experience in the South West United States, let us help you.
A Foreclosure is more damaging to your credit than a bankruptcy. If your home is the reason why you are in financial distress, call us today!
IF you are BEHIND in your mortgage payments or have received a Notice of Default (NOD), call us today at 619.HOUSE1. We have the experience to help you start your financial recovery. OUR SERVICE is ALWAYS FREE to the home in distress!
YOUR options to Foreclosure, Pre-Foreclosure Options
So, What Are Your Options?
- Pay off your mortgage(s) in full
• Probably not realistic, or you wouldn't be looking for assistance. - Bring the mortgage(s) current
• Most of us are not in a position to do this if we have already missed payments - Refinance
• If you are upside in your loan and can not put a sizable down payment, this isn't your best bet - Loan Modification
• Only 18% of those qualify to actually get your principal reduced, in most cases what a lender calls a "Loan Modification" is actually a forbearance - Forbearance
a) may take a few payments and put them on the back side of your loan, in the end you will pay more in Interest
b) the lender allows you to make 1/2 payments for 6 months at most, but fails to make clear that the following year you must be making 12 straight payments at 150% of your normal payment, ouch - Deed in Lieu
• This basically means give the house back to the bank, the problem is the bank isn't interested in owning property, just loans (notes). Legally the only way a bank has to recover property is through a foreclosure. So this tactic may only delay a foreclosure, which will still be on your credit report. - Bankruptcy
• This will only hold a foreclosure for maybe a few months, but it will end up doing the most damage to your credit as you will end up having BOTH a Bankruptcy and Foreclosure on your credit record. - Foreclosure
• Sure you can live in you house for another 4 months and maybe up to a year without making payments, but ultimately you will have to vacate and your credit report will have many months of late payments INCLUDING a foreclosure, which means getting a home loan in the future will be extremely difficult. - Sell the property on the open market
• IF the property sells for less than is owed, then you will still be liable to pay back the remainder of the loan balance and junior loans (2nd mortgage, HeLoc, all liens, judgments, etc..) - Let the property go to auction
• This is a very hard hit to your credit, because that means you will have a foreclosure on your credit. - Work with us to buy your house through a short sale.
• This is a win for you by saving your credit from the devastating damage of a foreclosure. A short sale negotiation also places us in a position to ask the bank for "satisfaction" of your loan and possibly release you from liability for any difference owed, including Jr. liens.
