Distressed Mortgage
Solutions
Save
or
Sell
that
property
today!
The
definition of a 'Distressed Mortgage' is a loan that is anywhere
from thirty days late to the days before the Sheriff's sale on the your
county courthouse steps. In 2010 that even means any Adjustable Rate
Mortgage or Interest Only Loan that is about to reset interest rates.
You do not need to be late on
mortgage payments to seek help from your mortgage lender and prove
distress or 'imminent default'.
My personal mission is to make the banks acknowlege their part in
creating this mortgage mess. My purpose is to put you back in control
of your mortgage in whatever strategy benefits you the most.
I have nine different
possible solutions to avert your mortgage distress. I cannot emphasize
strongly enough that the sooner you call or email
me, the more choices
you'll have. You wouldn't stall cancer treatment; don't stall getting
professional information. Information is king here.
- Mortgage Loan
Modification
- Short Sale
- Mortgage Principal Reduction Refinance
- Deed in Lieu
of Foreclosure
- Owner
Financing
- Lease Option
- 'Subject to'
Financing
- Inverse
Purchase
- Round Robin
Auction
I
imagine you’re here because something went wrong, or may go
wrong with your mortgage.
It
could
be for any number of reasons. Currently, it’s most commonly the
downturn in
the economy. One way or the other, it happens to more people than we
know. It’s so tempting to feel like we’re the only ones in this
predicament. It boils down to the economy, employment changes,
lifestyle changes, personal
income, or even business vagaries. You just must understand; Bad Things
Happen To Good People. Your
situation
might
be:
- Wrong Mortgage, Wrong Terms (ARMs, Interest
Only
I/Os)
- Dropping property values
- Divorce
- Deceased Homeowner
- Significant change in family size
- Bad Property Re-sale market
- Big change in personal income
- Loss of employment
- Medical Expenses
- Social Life Change
- Job Relocation
- Strung Out - multiple properties and not enough
cash
flow
Foreclose on me? - I
Don't Think So!
Here
are brief descriptions of each of the possible solutions I can help
you with:
Mortgage
Loan
Modification
The
mortgage
modification
industry
has
changed
significantly
in
the
last
half
of
2010.
Banks
have
learned
that
they
are
not accountable to
negotiate a distressd mortgage with anyone. Paying a third party to
negotiate your mortgage is futile. Also, the MARS rule from the Federal
Trade Commission effectively negates any profitability for
any third party negtiator.
I have an entire separate page that explains how to qualify for and
ensure good faith negotiations for a mortgage modification with your
mortgage lender. If that's your first choice, please follow Do-it-yourself
Mortgage
Modification and read all about it.
We are experiencing spectacular results with this method.
Short
Sale
Generally,
this
is
the best option if a Mortgage Loan Modification fails. A Short Sale is
getting the bank to accept less than what is owed as payment
in full for the current mortgage(s). The owner walks away with as
little
damage to their credit reputation as possible. My investor makes a cash
offer for your property which your mortgage lender must consider. While
we negotiate a purchase price, we engage a realtor to market your
property. Since we have a vested interest in closing, we are very
accomplished at negating the mortgage deficiency so that you can walk
away with no future financial responsibility.
Note:
Please do not list your property with a Real Estate Agent. For a
variety of reasons, this makes it almost impossible to negotiate an
effective short sale price. We'll do everything that a listing agent
will do - faster, more efficiently, and for less money. Call me for
details.
Short sale is easily the least
damaging to your credit rating. I advise lease/optioning another house
for two years,
use that to repair your credit, and you'll be in the
perfect position to purchase that or another new home. Mortgage
deficiencies
cannot be taxed as income for 2010 or 2011. Now is the time to take
control.
I strongly advise not
committing to the Home Affordable Foreclosure Assistance (HAFA)
provision of the Home Affordable Mortgage Plan (HAMP). Not one realtor
or homeowner who has used HAFA is satisfied with the process.
An experienced short sale negotiator will get much better results for
you.
Click here, complete and submit my
form; I'll get back to you today.
Mortgage Principal
Reduction Refinance
Mortgage
Principal
Reduction
Refinance
means
refinancing
your
distressed
mortgage
at
it's
new,
reduced
property value. It is also referred to as a "Short
Refinance."
For conventional mortgages, we negotiate your reduced property value
and resulting mortgage
deficiency with your current lender. For government insured mortgages,
the REST Report uses the 'waterfall test' to qualify a home for the
Principle Reduction Assistance' portion of the Home Affordable Mortgage
Plan, or HAMP.
No FICO credit scores are needed. For conventional mortgage financing,
your home is refinanced on the basis
of the new, reduced property value. Your
new
interest rate will be
higher, but for the right mortgage holder, the resulting lower monthly
payment,
combined
with the opportunity to become current on monthly mortgage payments and
repair your credit, will be a significant benefit. The target property
for this program is the 'underwater' or 'upside down' mortgage.
You never relinquish the deed to your house.
The value is
to refinance again in two or more years after your property values and
credit scores are restored.
Meanwhile, you keep your home and lower your monthly mortgage payment.
See more info here
Deed
in
Lieu
of
Foreclosure
Because
of the severe damage to one's credit rating, I advise attempting a
short sale
instead. The REST Report assures a good faith negotiation of a short
sale with your lender, so the benefit od a short sale is much better.
Follow the link to short sale above and we can discuss that.
Owner
Financing
If
you've
had
your
property
for
sale
for
awhile and have some equity,
you
might
easily
consider
this
option.
You
act
as
the
lender,
you
qualify
the
prospective
buyer
and carry the note, in full or as a second mortgage. I'd be happy to
help with this. Complete
and
submit
my
form here.
I'll call you back today.
Lease
Option
This
option is
for
the
property
owner
that
wants
to
keep
their
property
and
is
willing
to
re-locate
to
do
it.
Also referred to as "Rent-to-Own, your
property is leased to a soon-to-be-qualified buyer - generally for a
year. But in the current mortgage climate, two years
may be a preferable term. (See Short Sale above.) No
one gets the Lease Option done better than we
do.
'Subject
to'
Financing
This means an
informal
assumption of your existing mortgage financing. This option is for the
owner who's top priority is to stay in their home and catch-up. I pay
all back payments now and hold
your Deed in escrow. You keep your home and bring your mortgage
current; you
pay me back on a pre-arranged schedule. Lower closing costs and a much
faster assumption schedule are benefits. You, the owner and me as the
investor, enables us to facilitate financing without the whims of your
current lender. Build back your good credit as
you go. Click here, complete and submit my
form; I'll get back to you today.
Inverse
Purchase
This
little
known and copyrighted option is a patented procedure to liquidate a HUD
mortgage
property. Your property can be sold to another buyer in one day,
eliminating the 90-day seasoning requirement imposed by HUD in 1999.
This spectacular option is unique; has been used since
2002 and never superceded. Click here, complete and submit my
form; I'll get back to you today.
Round
Robin
Auction
When done well, the
distressed
homeowner and/or listing agent has been known to sell their property
very
efficiently with this option. Briefly, a single home auction is
advertised by the 'owner' and averages 95% of Fair Market Value. Best
accomplished with a current mortgage, it is quick and as painless as
any method available today. Click here, complete and submit my
form; I'll get back to you today.
 Click  for Help and
Information! 
One
way
or
another,
your
property
has
become
a
liability
instead
of
the
original
asset
it
started
out
to
be.
Life
threw a curveball. Or a spitball!
Please
believe
me.
I
see
it
every
day.
Foreclosure
is
absolutely
the
worst
path
you
can
take.
Foreclosure
is
a
permanent
solution
to
a
temporary
problem.
Some
families
never
ever
recover
from
it.
Foreclosure
will
do
more
damage
to
your
financial
potential
than
anything
else
you
could
do.
Or
not
do.
The
solution
is
to
be
pro-active.
Pro-active
comes
from
education
in
this
process.
I’ll
help
you
with
that.
The
REST
Report
ensures that your
foreclosure court will not let your lender foreclose on you.
Another
process
distressed
homeowners
consider
is
declaring
bankruptcy
to
stall
the
foreclosure.
Unfortunately,
80%
of
properties
that
come
out
of
bankruptcy
go
to
foreclosure
anyway.
This just makes a
horrible situation even worse. I implore you to research (and
eliminate if necessary) the above options first.
Get Free Credit Information Articles
My Free consultation will give you
the information to make an informed decision.
I have more ways to get you out of that property than anybody; and get
you the most money that I can. As soon as I know as much as necessary
about your property; I can explain your options to you, and you can
make your best decision for you, your family, and your finances. You
might easily look at your mortgage exactly like a cancer. The sooner
you take action and contact me, instead of ignoring the situation, the
sooner you can start your healing and recovery. The sooner you submit
my form, the more options I can present to you. Other people and
families are recovering even as you read this.
ANYTHING BUT FORECLOSURE!
The future isn't as bleak as you think. You might feel you have the
time to fix your credit and hang on to your home for a few months.
The country is full of homeowners who have tried to cover their
embarrassment with their savings. Really bad idea, as any of them will
tell you.
Along the way I’ll hook you up with a credit repair company that will
facilitate your credit repair. (It all depends on the kinks in your
credit as to what repair company is best suited to you). If debt
settlement is a good option for you, we can discuss that too.
Click
for
Help and
Information!
I have to say one more time; the sooner
you complete and submit my form, the better off you'll be. I hate to
make this sound like a hard sales pitch, but the opportunity here is to
get you the best information in your hands NOW; so that you
can take control of your
situation.
Once you realize that I’m on your side and here to solve your problem,
everything will look better than it does right now. Education in this
life / curveball will always make the future look better. I'm in the
distressed mortgage solution business.
I look forward to hearing from you.
Chris Dix
Foreclosure
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