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Are You Facing Foreclosure?
It's a frightening experience and millions of American families today find themselves living through it. You are probably asking yourself the same question: “If I can't sell my property and I can’t afford to keep it, how can I avoid foreclosure?”
Don't give up hope! You have options.
I have helped many people avoid the pain of foreclosure.
I can sell your property and negotiate with your lender to have a portion of your mortgage debt forgiven. You will no longer face foreclosure, and you will not have to file for bankruptcy. This is called a Short Sale, and it will relieve you of your mortgage burden, save you from the consequences of bankruptcy, and soften the blow to your credit scores.
What is this ... Short Sale?
A Short Sale is the process by which a lender agrees accept less money for the property than you still owe, so that a buyer can be found and the property sold. Through the use of short sales, thousands of property owners have avoided foreclosure and bankruptcy.
A Short Sale of your home can be the solution for you if you can no longer afford to make the required payments to stay in your home, and want to avoid ruining your credit through bankruptcy or foreclosure.
Here is some additional information that will help you:
What Will it Cost Me?
NOTHING! This is a concern everyone shares. Let me put your mind at ease. I only get paid when I sell your home, and all closing costs and realtor fees are paid by the the lender at closing.
Beware ... Sadly, there are a lot of scams out there. Be cautious of people asking you to pay upfront for help.
Although some companies may charge a fee to handle a short sale, I DO NOT. I understand your situation. I will be your ally throughout the short sale process. I will relieve you of a financial burden, not add to it.
I welcome the opportunity to answer any questions you have about Short Sales. There is NO obligation, and your privacy is absolutely guaranteed. In case you need it, my phone number is:(813) 361-6178. You can call me anytime, day or night -- so you don't have to wait until morning to get the answers you need NOW!
In the News
The latest news regarding help for homeowners facing foreclosure! Get ALL the news: click here.
Countrywide to make settlement payments At least $3,000 will go to each Fla. customer who had trouble making a mortgage payment within four months of closing. Read more.
Treasury Announces Home Price Decline Protection Incentives RISMEDIA, August 4, 2009-As part of an ongoing effort to expand relief to struggling homeowners, Treasury released the Supplemental Directive for its Home Price Decline Protection (HPDP) program, a component of the Home Affordable Modification Program (HAMP). Read more.
Feds to shame lenders not helping homeowners By publishing the names of slow-moving companies, officials hope public outrage will get the industry on track. Read more.
Free legal advice for at-risk homeowners The Fla. Bar offers advice to Floridians facing foreclosure and the ability to search for a local pro bono lawyer at www.floridabar.org.
Your home's worth: Who can tell these days? Should home value calculations consider nearby distressed property? Appraisers, real-estate agents and owners disagree. Read more.
Poll: Would-be homebuyers still cautious More than half say they're not prepared to jump into the market, with a fear of job loss their No. 1 reason. Read more.
Fannie And Freddie To Expand Mortgage Rescue Government allows more troubled borrowers to qualify for a refinancing program run by the mortgage financiers. Read more.
Home sales stabilizing; weak recovery seen New data shows nationwide home sales may have finally hit bottom, but a host of problems are hindering recovery. Read more.
Mortgages left in limbo More homeowners are badly behind on their loans but banks have not yet foreclosed, which can take 9 months to start. Read more.
Moving mortgage rates cause problems Rates' ups and downs in recent weeks surprised some buyers in the middle of the purchasing process and nixed deals. Read more.
Loan renegotiations take work, patience Lenders are still trying to figure out mortgage modification programs, so homeowners need to arm themselves with information. Read more.
Home Warranties Prove Valuable in Today’s Real Estate Market for First-Time Home Buyers RISMEDIA, June 12, 2009-A study conducted by American Home Shield and a major national real estate company reveals that homes offered with warranty protection sold an average of 23 days faster than homes with no warranty coverage. Read more.
Foreclosure relief still iffy -- Are challenging times still ahead? Treasury Secretary Timothy F. Geithner told a Senate panel Tuesday he won’t know for several months whether a key Obama administration program designed to help troubled homeowners avoid foreclosure will be successful. Read more.
Foreclosures fall 6% May to April The number fell month to month, and while the rate rose compared to May 2008, it was the smallest jump in three years. Read more.
Obama’s Foreclosures Alternatives Plan (FAP) and how it affects you as a short sale investor
Posted by D.C. Fawcett
The government and the National Association of Realtors just did us a big favor for pushing even more short sales through. Read More. http://tinyurl.com/qvb7v2
11% of Florida homes in foreclosure process
Florida ranks first nationally for homes in foreclosure and is the only state in double digits. The national rate is 9.12 percent. Read more. http://www.floridarealtors.org/NewsAndEvents/n3-052909.cfm
Number of Home Sales Rises, But Prices Keep Plummeting
Washington Post (05/28/09) P. A13; Merle, Renae
Sales of existing homes in April beat analysts' expectations by rising 2.9 percent from March to a seasonally adjusted annual rate of 4.68 million units, according to the National Association of Realtors, but the housing market is still weak because there are so many properties on the market. The number of homes for sale rose nearly 9 percent last month to a 10.2-month supply, and distressed homes now account for 45 percent of the market. Median home prices plunged to $170,200 -- down 15.4 percent from last April -- because of the excess inventory
OBAMA SIGNS MORTGAGE, FRAUD BILLS
Congress passed the Helping Families Save Their Homes Act and the Fraud Enforcement and Recovery Act earlier this week. Read the full story. http://www.floridarealtors.org/NewsAndEvents/n3-052109.cfm
NEW FORECLOSURE ALTERNATIVE PROGRAM JUST ANNOUNCED!
Good news from Washington, D.C., today. The Obama administration announced new details under its Foreclosure Alternatives Program (FAP) enabling servicers and borrowers to pursue short sales and deeds-in-lieu (DIL) of foreclosure in cases where the borrower is generally eligible for a Making Home Affordable modification but does not qualify or is unable to successfully complete the three month trial period. The program, effective through 2012, requires that prior to proceeding with a foreclosure, servicers must determine if a short sale is appropriate.
Click here to read more.
LEARN ABOUT MAKING HOME AFFORDABLE
REFINANCING: Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home.
MODIFICATION: Many homeowners are struggling to make their monthly mortgage payments perhaps because their interest rate has increased or they have less income.
Click here to learn more and find out if you're eligible at.
FORECLOSURES
As expected, the Obama administration expanded its $50 billion mortgage aid program yesterday. New initiatives should streamline the selling process of "underwater" homes, or ease the transfer of ownership back to a lender. Both options will still ding a homeowner's credit score, but less than a foreclosure.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/N5-051509.cfm
FEDERAL AID
The Obama administration is expected to expand its mortgage aid program today, announcing new measures to help at-risk homeowners avoid a blemished credit record. The new initiatives are expected to promote options such as short sales or a deed-in-lieu of foreclosure - methods that would allow borrowers to avoid foreclosure by either selling their properties or giving them back to lenders.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-051409.cfm
Read more current real estate news! Click here.
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