Posted By PremierLots on December 17, 2009

If you are facing a short sale situation and/or a possible foreclosure- chances are, you may have some other outstanding debt to deal with as well.

When you aren’t able to make your mortgage payments, it leaves little left for anything else. Therefore, you find yourself putting life’s necessities (food, gas, etc.) on a credit card, all the while piling on a growing mountain of debt with high interest.

Perhaps you’ve been reading up on short sales and doing your homework on how to best solve your mortgage situation, but where does this leave you financially if your consumer debt goes ignored?

Bellevue Short Sale Experts have a team of debt specialists who work with people who want a way to resolve their consumer debt and get back on track financially. You don’t have to live with your current high interest rates and massive debt that you simply can’t afford. If you leave your debt unsettled, barely making your minimum monthly payments it will be extremely difficult to find financial peace. Bellevue Short Sale Experts likes to think that resolving your consumer debt issue is just an additional part of the comprehensive short sale solution.

Similar to short sales, there is a lot of misinformation about consumer debt. Also, similar to short sales, the mandates and regulations that govern how consumer debt can and cannot be settled are highly volatile and they continue to change. That’s exactly why we found consumer debt experts who pride themselves in working to represent the best interest of their clients through education and working with each individual to assess the best solution for their needs. After looking at several companies who provide these services and reading about the sharks who prey on unsuspecting, vulnerable people facing consumer debt we’re so relieved that we found our debt specialist! As a matter of fact, I was just reading an article today from credit.com that was warning people that credit card companies have been exploiting loopholes in the federal law. These credit card companies certainly don’t have your best interest in mind. Having seen the similar attacks in the world of short sales, we understand that this is extremely frustrating and stressful for people. The truth of the matter is, in every arena of business- there are people (both business owner & consumer alike) who take advantage of the system and leverage whatever they can. Again, this is why it is so important to find council that specializes in each niche market where you may be facing problems financially. “According to the Center for Responsible Lending (CRL) consumers are finding it very difficult to gauge the true cost of their credit card debt due to a variety of tricks aimed at replacing the more straightforward penalty interest rates and late fees that have become increasingly common in recent years.” (credit.com- 12/11).

If you’d like to talk with a credit expert who can walk you through the process of settling your debt and answer any questions you have regarding these ‘tricks’ that credit card companies are coming up with, check out our ‘debt relief’ page up top. We stand firmly behind our debt specialists and can confidently say that you won’t be disappointed in the caliber of their work to help you resolve your consumer debt issue. It is exciting that there are ways to significantly repair your credit and financial headaches, check it out- we promise you won’t regret it!

Until next time.

Category: Foreclosures, Short Sales, payments, pre-foreclosure | 1 Comment »
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Posted By PremierLots on December 6, 2009

According to a recent article published 12/2/2009 on the Todayshow.com website, contributor Barbara Corcoran offered fresh insight into the government’s Making Homes Affordable program and where we’re at with the effort to successfully execute loan modifications. No not the temporary, partial modifications that waste your time and money. REAL MODIFICATIONS THAT WORK FOR YOU!

I’m a bottom line kind of person, so what’s the bottom line? Banks are overwhelmed and borrowers are confused- but there is hope!

“Until recently, the Making Homes Affordable Program was looking like another government failure, but it’s numbers have improved sharply, with 650,000 borrowers getting trial loan modifications and 375,000 eligible to convert to permanent modifications by the end of the year. “

What’s more?

The treasury department has announced plans to send ‘SWAT teams’ into the largest mortgaging servicing companies in order to work with their executives and boost the loan modification success rate.

So what does this mean for you? Even with a jump in the Making Homes Affordable Program, the problem remains that record numbers of people need help. Approximately, 7.5 million US households are behind on their mortgage payments and 25% of Americans are underwater on their mortgages. YES, 25% of people are facing short sale situations! Chances are, if you are part of the 25% of people facing a short sale mortgage situation, you’re not entirely sure what to do, or where to turn for help. It’s not like anyone expects this to happen, or prepares for it by taking a class, but with all of the paperwork and procedures you have to follow you might think a class would be great!

Don’t worry, I’ll keep it simple for you. Starting with the first step; like I’ve been preaching, the first thing you want to do if you’re facing a short sale situation is to find out if you’re eligible for a loan modification.

This isn’t always as easy as it sounds- banks are overwhelmed, understaffed and undereducated about government programs. As a matter of fact, 60% of borrowers who have even QUALIFIED FOR A LOAN MODIFICATION have either failed to submit paperwork or turned in incomplete paperwork, making a loan modification impossible.

It’s a big, frustrating time suck. If you attempt to do a loan modification on your own, you’re expected to expertly navigate through the loan modification process while negotiating with the bank. How could you possibly negotiate with an understaffed, underpaid loss mitigation department when you don’t even really know what you’re doing? That’s what’s really going on here and that’s why we LOVE our loan modification specialists! They are PROFESSIONAL negotiators who are licensed and have an unmatched track record. Loan Modification companies are designed to help you execute a successful loan modification, which as I’m showing you can be extremely difficult. Especially difficult when you have unidentified, silent obstacles challenging your chances of making this happen. For instance, did you know that loan servicers benefit from your delinquency? Loan servicers are the mortgage companies that collect payments from homeowners, they do not own the loans. They collect fees from the investors who do own the loans, and their fees often increase the longer a borrower remains delinquent. Some lawyers argue that mortgage companies are using the short-term trial modifications as a stall tactic to get a few more dollars from borrowers who otherwise would make no payments.

Again, the bottom-line… if you can’t afford the long-term mortgage solution that your lender provides, it’s not the right mortgage for you! Don’t waste your time and money. No new initiative is going to come to the rescue. The high rate of unemployment is a major factor in current foreclosure rates & even under the Making Homes Affordable Program many borrowers who are receiving unemployment are unlikely to qualify.
If you know you’re part of the 25% of people who are underwater with their mortgage and KNOW they don’t want to get the run around- my best council is to contact our loan modification specialists. (see loan modification page at the top of our website) From here, you’ll be able to identify if a loan modification will work for you and let them do the rest of the work, ie: details! Our loan modification specialists go to work to help you find out what you can afford, compile a convincing case to negotiate with your lender & all of the follow up paperwork that needs to take place in a timely fashion.

If you’re attempting to complete a loan modification, please note that you have options when it comes to keeping your lender accountable. If you’re at work with a national bank and you believe they’re acting unethically you can file a complaint online with the Office of the Comptroller of the Currency. The OCC charters, regulates and supervises all national banks, and their complaint form can be found online at www.helpwithmybank.gov

Whatever you decide to do, take action. Bellevue Short Sale Experts are here to equip you with the knowledge to tackle any short sale/loan modification mortgage situation.

We invite your questions & comments, best of luck to you!

Category: Loan Modifications, Modify, Short Sales, pre-foreclosure | No Comments »
Tags: banks, Bellevue, loan modification, east side, deficiency, mortgage, mortgage payments, stop paying, banks, short sale, deficiency, east side, Eastside, foreclosure, Kirkland, loan modification, mortgage, mortgage payments, pre-foreclosure, Seattle, short sale, stop paying

Posted By PremierLots on November 18, 2009

Greetings all!

I felt inspired to write this article after our broker informed us this morning at our sales meeting that there is a man running around the Bellevue/Seattle area hiking up the fee’s of short sale transactions.

Specifically, something to the tune of him making $39,000 profit at the buyers expense.
This is ludicrous and must be stopped.

Please, educate yourself and anyone else you may know that is facing a pre-foreclosure/short sale situation. While, there are several legitimate short sale negotiation companies that require a fee, the fee can be covered by the bank/seller. In most cases, the buyer won’t even have to come out of pocket at all!

If you are a buyer considering a short sale property- you need to find out who’s negotiating this short sale and check their credentials! Protect yourself by working with people who have a track record of proven success and a positive repuation in the community. Start asking around and it won’t take long to figure out who the sharks are.

If you are a homeowner and need to get your home sold, you need to make sure any realtor and/or negotiation company that you work with is ethical and experienced. Don’t just let your realtor make all of the decisions, you can control who you want to negotiate your short sale. If you don’t do your homework you could end up paying bogus fees. It’s never good to be ripped off, but it’s especially painful tot be ripped off when you’re already facing a short sale! It’s not right, but it happens. If you are a homeowner, the short sale should not cost you anything and your Realtor will still be happy to work with you because they should be getting paid 100% of their commission! Key word here, SHOULD. These things should be happening, but are they? Ask the right questions.

If you use a company that is illegitimate you risk having your home sold properly. Without a proper closing you are going to face a foreclosure. You know, the whole reason you tried the short sale in the first place! Chances are you have been working hard, preparing documents and taking time to make calls, all to protect you and your credit from a foreclosure. One of the only ways this can happen is if your home is successfully sold as a short sale.

Don’t let your short sale efforts go to waste. Work with top industry professionals, see our short sale solution. Hope this helps anyone in jeopardy of the thieves out there looking to make a quick buck in this difficult economy. Best of luck to you, until next time.

Category: Foreclosures, Loan Modifications, Modify, Short Sales, mortgage payments, payments, pre-foreclosure | No Comments »
Tags: east side, foreclosure, Loan Modifications, preforeclosure, Short Sales

Posted By PremierLots on November 12, 2009

Yes!
It’s true!

If you’ve ever thought about, simply letting your home be sold at foreclosure to avoid a deficiency judgment, think again!

Maybe you’ve even been advised that if you can’t get your lender to waive the difference in a short sale or deed in lieu of foreclosure, to just have them foreclose; logic being that, at least this way in a non-judicial foreclosure they won’t be able to pursue you for the difference. THIS IS NOT THE CASE!

There’s been cases through the Washington State Court of Appeals that show with the proof of their decision- that junior lien holders (HELOC’s, 2nd line of credit, etc) CAN pursue you for a deficiency at foreclosure, even in a non judicial foreclosure proceeding.

Like everything else, there are exemptions and we would suggest that if you have questions regarding this topic to get in touch with an attorney or local HUD counselor and ask them about the statutes of limitations for mortgage deficiencies and your particular mortgage. There are no guarantees when trying to guess what your lender might do. It’s much safer to ask the questions up front and prepare yourself for your best plan of action, with backup plans lined up. Just another reason why attempting to short sale your house could be a much better financial decision than foreclosure.

Cheers!

Category: Foreclosures, Judgements, Non-judicial Foreclosure, Short Sales, Washington State Law, deficiency judgments | No Comments »
Tags: bank, banks, Bellevue, loan modification, east side, deficiency, mortgage, mortgage payments, stop paying, banks, short sale, deficiency, deficiency judgments, east side, foreclosure, Issaquah, Kirkland, loan modification, mortgage, mortgage payments, pre-foreclosure, seattle short sale, short sale, stop paying

Posted By PremierLots on November 4, 2009

We get asked this all time, but the truth is no one but an attorney should give you council on whether or not it is in your best interest to continue to pay your mortgage payments. That said, there are advantages and disadvantages to both scenarios when trying to strategically accomplish either a loan modification or short sale.

There are concrete facts surrounding the topic:  should I continue to make my mortgage payments? It would be wise for anyone struggling to afford their mortgage to look at the facts. After reviewing the facts/consequences of paying or not paying you’ll be able to make an informed decision as to what’s best for your financial situation.

The fact is, you can perform a loan modification or a short sale without falling behind on your payments.

Questions that this raises:

1. If I continue to make my payments what are the advantages vs. disadvantages?

Answer:

Advantages:

-        If you think that a loan modification is your long term solution, your credit will not be impacted by missing payment s while waiting to see if you are eligible to make this happen.

-        Qualify to Buy a New Home. Fannie Mae guidelines, issued in August of 2008, say a borrower may immediately buy another home after a short sale if the borrower was never delinquent, complies with its “excessive prior mortgage delinquency policy,” and is not obligated to repay the short sale lender, including a deficiency judgment.

-        Protect Credit – Keeping your mortgage current also helps your credit rating because your credit report will not reflect any late payments. Realize that a lender may, however, report your short sale as a Credit Score Factor Code #22, which will still somewhat drop your FICO.

-        Peace of Mind. Not falling behind on your payments makes it easier for some sellers to deal with a short sale because the stigma of being delinquent is absent, and they sleep better at night.

-        Cancel Without Penalty. If your home does not sell or a lender refuses to accept an offer from your short sale buyer, in California, for example, you are free to cancel the listing and keep your home without liability. This can vary from state to state and you will want to check with the brokerage with whom you have a listing agreement with. Marketing expenses may incur.

-        Are you prepared to face a foreclosure? Not all short sales are guaranteed and not all lenders will agree to have your home sold short of what is owed. It is a good idea to find out if your lender will agree to a short sale before missing payments, unless there’s no other alternative.

Disadvantages of continuing to pay:

Some sellers are dealing with extreme financial hardship and don’t have the option of deciding whether to continue making mortgage payments. Other sellers deliberately stop paying.

-More Motivation for Banks to Accept Short Sales . Although it is not necessary to be in default before a bank will consider a short sale, the files that get priority are those in default.

-Lenders Might Not Obligate Repayment . If a borrower is facing a true hardship and has no assets nor means of making a mortgage payment, the lender is unlikely to try to force the borrower to pay back any of it. It does not mean a lender is not entitled to a deficiency judgment, if circumstances warrant.

- Acquire Funds to Move. It stands to reason that if you’re not paying the bank, money that would ordinarily be allocated toward that expense may instead be used to pay first, last and a security deposit on a rental.

2.  What could I be doing with a couple months worth of mortgage payments? Could that money be better spent?

Answer:

You need to think about the long term reality of your situation. If you have to scrape by just to afford your mortgage, this mortgage is not right for you. If you could re-direct a couple of monthly payments towards reshaping your financial future, it may make more financial sense. Remember, it is free to have your home negotiated by our short sale negotiators; however this is not the case to have your loan modified or to have a debt negotiation specialist work with you to settle your outstanding consumer debt.

Services available to help you reshape your finances are:

-Loan Modification Specialist

- Debt negotiator fees. – They are specialists who help negotiate your post short sale deficiencies, consolidate all of your other unsecured debts & help repair your credit overall.

Remember, if you find yourself needing your mortgage money to pay for daily necessities such as: food, gas, etc. then your mortgage is not right for you.

3.   Am I really going to be able to make this mortgage work for me?

Answer: Think about the long term consequences of whatever you’re doing. If you have you have a forbearance agreement with your lender who has agreed to temporarily lower your monthly payments, is this truly going to resolve your mortgage situation? If you’ve had a loss in income, increased monthly bills or any other hindrance to your ability to make that monthly mortgage payment, a forbearance agreement is not going to resolve the issue. If you can have your loan modified, until you could make things work or even permanently, would this help? Furthermore, if you were to step away from the property and do a short sale in order to find more affordable housing would this be better? These are all things that no one but YOU can decide and all very important things to consider before moving ahead with any decision.

4. How will this affect my credit score if I do stop paying?

ANSWER:

Short Sale- 200-300 point reduction on your FICO score depending on your borrower and an inability to obtain a mortgage for at least 24 months.

Late payments- 30-60 day late payments, if considered an ‘isolated occurrence’ does not cause long term damage to your credit. 90-120+ day late payments however can drop your credit score for up to approximately seven years.

Collections (post short sale deficiencies) & debt settlement- Your score will suffer from both, but with debt settlement you’ll eventually repay your debt- which helps to restore your credit.

If you leave your debt in collections they will continue to report that you are in default of installment payments, etc. and they can hinder your credit for years. It is better to settle your debt and move on.

To summarize, in regards to a loan modification, there are certain requirements that you’ll need to meet, but in general you may qualify for a loan modification (regardless of whether you are behind or current with payments) if:

1. You occupy your house as your primary residence;
2. Your monthly mortgage payment is greater than 31% of your monthly gross income
3. Your loan is not large enough to exceed current Fannie Mae and Freddie Mac loan limits.

In regards to a short sale, if you fall behind on your mortgage and want to avoid a foreclosure on your credit score, you will want to perform a short sale. While our negotiation service is free to you, there are other costs involved that you will want to be prepared for, such as: deficiency judgments, debt negotiation services, etc.)

TO FIND OUT HOW WE CAN HELP YOU MOVE FORWARD WITH YOUR SHORT SALE PROPERTY PLEASE CLICK ON THE SHORT SALE ANALYSIS PAGE ON THE TOP OF OUR WEBSITE AND SUBMIT YOUR FORM.

Whether or not you decide to continue to make your payments, you now at least have some foundational truths regarding the consequences of both actions. If your mortgage isn’t working for you it could be best to re-direct a few monthly mortgage payments towards rebuilding your future financial situation. If you can make your mortgage work with a refinance or modification, you’ve found a mortgage that is truly affordable for you and your family.

Best of luck to you all- take care.

Category: Foreclosures, Judgements, Non-judicial Foreclosure, Short Sales, Washington State Law, deficiency judgments, mortgage payments, payments | 2 Comments »
Tags: banks, Bellevue, loan modification, east side, deficiency, mortgage, mortgage payments, stop paying, banks, short sale, deficiency, east side, loan modification, mortgage, mortgage payments, short sale, stop paying

Posted By PremierLots on October 26, 2009

Loan Modifications & The Making Homes Affordable Program- What do you need to know?

Have you heard about the Making Homes Affordable program?

It’s yet another program set up by our federal government to get the economy and housing market back on track, but what does it mean to you?

If you are a homeowner you should know that it’s a program developed to help you refinance or modify your loan. With a very general, national interest the government is providing incentives for your loan servicer to help you refinance or modify your loan within certain limits created by the Making Homes Affordable Program or MHA.

The only problem is, there is an unspoken discrepancy between the national and state perspective for the best way to handle your mortgage situation. The federal program they set up to address the mortgage issue known, as Making Homes Affordable is a very generic strategy that short sale industry professionals have been implementing from the beginning. Certainly, short sale professionals will work with homeowners to get their loan modified or refinanced as a first choice, however it’s not always that easy.

Not only are there very specific financial requirements you must meet to modify your loan, but you’ll also need to be able to deliver a convincing explanation to your lender for your current mortgage situation.

So, …The government wants to help you modify your loan.

Well, so do real estate and mortgage industry professionals.

The question now becomes…

What is the best way to modify your loan?

FOR PROFIT vs. NOT FOR PROFIT LOAN MODIFICATIONS:

The MHA website will tell you to work directly with your servicer to negotiate the terms of your modification.

Sure, anyone can choose to try to modify their own loan.

However, what they’re not telling you is that while anyone can modify their own loan, it may not always work out with the best results possible.

You pay for what you get.

Loan modification companies are legitimate businesses with broker’s licenses. Loan mod companies provide a service that deserves compensation. It is their job to represent your claim so that you don’t have to.

Like anything else, you are paying for their expertise, experience and skill set, expecting them to negotiate the terms of your loan modification in the best way possible.

That is why Bellevue Short Sale Experts and several other short sale industry professionals are advocating for profit loan modifications.

By paying for a loan modification you will have an experienced personal representative handling your claim that will know how to negotiate with your lender much more effectively than you could ever hope to.  The benefits of a for profit loan modification:

They organize and collect all of the necessary paperwork

They create your loan modification package in a quick, comprehensive manner, making sure you have everything you need to get the payments adjusted with ease and urgency.

Alternatively, you will be spending copious amounts of time and energy identifying what you will need and what’s important.

Remember, it is not in the bank’s best interest to get you the terms you want. Many homeowners have found this out the hard way. Choosing to use HUD agencies that were slow, unorganized and not very helpful. Common complaints from homeowners who have used HUD agencies occur because the homeowner can get frustrated with the demanding amount of time it takes to modify their loan with people who don’t seem to care. Lenders have been known to work with homeowners in an extremely negative fashion:

1. Requiring homeowners to pay off their entire amount in arrears before moving ahead with the modification. (this is not true for most lenders and is often just a lie!)
2. Behaving in a non-responsive manner
3. Offering very short loan mod agreements, which act more like a forbearance and are of little to no help at all!

The best solution endorsed by short sale industry professionals is to find a loan modification company that are licensed mortgage brokers and in complete compliance with the DFI.

If you are an agent, I highly recommend having your homeowners pre-screen for a loan modification before pursuing a short sale (that is, if the homeowner has expressed interest in keeping their home).  It is a grand waste of time for everybody involved if the homeowner is qualified for a loan modification and ends up realizing that only a few days before the closing date on your short sale. Take advantage of the resources around you and do something about your situation.  Continuing to miss payments without a plan of attack is a perfect recipe for a foreclosure.  If you do not have the time, resources and the general capacity to negotiate your own loan modifications, then work with professionals who can.  It is never good to simply allow your property to go into foreclosure.

We sincerely hope you have a better understanding of what your options are and who has your best interest in mind in regards to modifying your loan.

Category: Foreclosures, Judgements, Short Sales | No Comments »
Tags: bank, banks, bellevue short sale experts, Bellevue, loan modification, east side, deficiency, mortgage, mortgage payments, stop paying, banks, short sale, deficiency, east side, Eastside, foreclosure, Issaquah, Justin Richards, Kirkland, loan, loan modification, loans, mortgage, mortgage payments, pre-foreclosure, premier lots, Redmond, sammamish, short sale, stop paying, yvette dubee

Posted By PremierLots on October 5, 2009

In the event that you decide to attempt to short sale your house, there are clear disclaimers that you need to be aware of. The following is a list that is specific to a short sale situation where the seller already has an interested buyer or a buyer writing up an offer.

YOU- (The Seller) should acknowledge the following list of important issues in regards to a short sale.

The Seller understands that they should read the contract carefully and talk to their attorney.

The Seller acknowledges they are the owner of the property in default and are unable to bring their loan current.

The Seller understands that the purchase of the property by the Buyer is possible only if the Lender agrees to take a lower price.

The Seller understands that they may have to pay the deficiency and/or that the deficiency, if waived, may be taxable.

The Seller understands that the Buyer hasn’t professed that the sale is completed upon signing.

The Seller acknowledges that the Buyer hasn’t promised to close before foreclosure takes place.

The Seller agrees to hold the Buyer harmless for an unsuccessful short sale.

The Seller has entered into the purchase contract voluntarily.

The Seller acknowledges that the Buyer is not a foreclosure consultant, has not guaranteed payments, has not guaranteed to bring the loan current, and has not guaranteed that the property will be paid off or saved from foreclosure.

Category: Short Sales | 2 Comments »
Tags: Bellevue, loan modification, east side, deficiency, mortgage, mortgage payments, stop paying, banks, short sale, disclaimer, foreclosure, Justin Richards, loan modification, pre-fore, Seattle, short sale

Posted By PremierLots on September 20, 2009

A short sale is when the bank allows people to sell their home for LESS than the current balance on their loan.

Why would a bank do this?

Banks are in the business of making loans.

Lending money.

NOT managing properties.

The banks don’t want these non-performing assets on their books because it hinders their ability to continue to make loans. They lose out on potential interest and incur costs related with the home such as fixing it up, marketing it with a Realtor, going through the foreclosure process, etc.

The short sale process allows homeowners to avoid having a foreclosure on their credit record, therefore positioning them in a better financial situation for the future. Homeowners who choose to complete a short sale vs. a foreclosure are able qualify for a home loan in the future much quicker and don’t have to deal with the stress of having the bank foreclose on their home.

While there is a lot to know about short sales it doesn’t have to be scary or intimidating!

If you are a homeowner facing foreclosure and you would like to commit to a short sale, you need to know what to expect.

Qualifying for a short sale is the opposite of applying for your home loan, but requires the same amount of paperwork! Please know that this will require your time and commitment.

Just like when you went into the bank to apply for your loan, you’re going to need to put a package of financials together, including your: tax records, pay stubs, bank statements and a hardship letter explaining why you can no longer afford to make payments on your loan. You need to SHOW the bank that due to unexpected circumstances, you’re no longer able to keep the loan.

There are extensive tax, legal and miscellaneous implications that occur from a short sale. While, it’s not critical that you understand every detail at this very moment, it’s critical that you work with professional experts that do!

We look forward to answering any questions you may have and we encourage you to post away on our blog!

Welcome to the Bellevue Short Sale Expert Community!

Category: Short Sales | 2 Comments »
Tags: Asset Realty Group, banks, bellevue short sale experts, Bellevue, loan modification, east side, deficiency, mortgage, mortgage payments, stop paying, banks, short sale, deficiency, east side, Eastside, foreclosure, home owner, Issaquah, judgment, Justin Richards, Kirkland, loan, loan modification, Mercer Island, mortgage, mortgage payments, Redmond, renton, Seattle, short sale, stop paying, Total Broadcasting

Posted By PremierLots on August 21, 2009

Free foreclosure help & counseling!!

Get the facts!
Get informed!
Use the resources our government has set up to keep you protected from scams, investor sharks & illegitimate business practices. It’s critical that you’re able to filter through the abundance of misinformation available on the Internet.

RESOURCES:
For the ultimate in consumer protection, visit the federal housing & urban development website -HUD

US Department of Housing & Urban Development

http://www.hud.gov/foreclosure/

HOPENOW

http://www.hopenow.com/
Call them today- 888-995-HOPE

Category: Foreclosures | No Comments »
Tags: Asset Realty Group, assistance, Bellevue, loan modification, east side, deficiency, mortgage, mortgage payments, stop paying, banks, short sale, counseling, foreclosure, Issaquah, judgments, Justin Richards, Kirkland, Mercer Island, pre-foreclosure, Redmond, renton, resources, short sale, Total Broadcasting

Posted By PremierLots on August 5, 2009

If you’re facing foreclosure, but want to stay in your house you need to consider a loan modification.

Clearly most everyone would love to stay in their home if at all possible!

However, loan modifications are for people who can show the bank that they can & plan to pay the bank back.
A loan modification is for people who can afford to repay the bank by making some adjustments to their current loan.
If you were hit by an unexpected/temporary circumstance, or if you believe that the terms of your loan can be altered, the bank may be willing to work with you to reestablish the re-payment terms of your home loan.

However, if you’re facing more permanent conditions, you may not be eligible for a loan modification. To find out if you qualify for a loan modification, contact us today. It’s a matter of taking time to complete some paperwork, time that may allow you to stay in your home!
If you’re not eligible for a loan modification, a short sale may be your next best option.

***Please note, when considering a loan modification, legitimate businesses who are licensed to modify your loan can charge a fee! To learn more about what an appropriate fee is and when it should be paid you can either contact the attorney general, the Washington State Department of Financial Institutions or feel free to inquire with us.

Category: Foreclosures | No Comments »
Tags: Asset Realty Group, bank, bellevue short sale experts, Bellevue, loan modification, east side, deficiency, mortgage, mortgage payments, stop paying, banks, short sale, counseling, expert, foreclosure, Issaquah, Justin Richards, lender, loan, loan modification, Mercer Island, pre-foreclosure, renton, resources, Seattle, short sale