Interest Only, Stated Income, Option ARMS and all the other easy-to-obtain band-aid mortgages loans of the once-booming housing market, have placed some homeowners in an extremely critical position. They need stitches to close the huge gap between what they earn and what they owe. Are you feeling trapped in a home you can no longer afford, but can’t afford to sell? Are you among the growing number of homeowners that are wondering what they should do next? Read More….
Archive for the ‘Foreclosure’ Category
Trapped by House Payments You Can’t Afford?
Posted by welovedeercreek on October 1, 2007
Posted in 2007 Real Estate Forecast, Agent's Advice, Economic Focus, Foreclosure, Mortgage & Financing, Real Estate | Leave a Comment »
Don’t Let Your Lender Run Away With Your Equity!
Posted by welovedeercreek on July 13, 2007
Say you, as the Borrower, fall behind on your Mortgage. You need to catch your delinquent mortgage amount up to ward off going into default and eventually foreclosure.
Did you know that before foreclosure occurs, a repayment plan can be proposed to your mortgage holder/lender to satisfy the amount owed?
A Loss Mitigation Specialist can propose several plans or strategies to the lender to put the loan back in good standing.
Lenders always want to avoid the foreclosure process when at all possible. It’s much more equitable if a “meeting of the minds” can occur and an agreement made on a repayment strategy in which you, the homeowner and your lender can benefit.
Loss Mitigation can prevent your home from going to foreclosure. This solution to your mortgage problem is based on your ability to pay, not your credit score.
Posted in Agent's Advice, Economic Focus, Foreclosure, Mortgage & Financing, Negotiation, Real Estate, Real Estate Tips | Leave a Comment »