9 Alternatives To Foreclosure

Huntington Beach, CA: Put Those Foreclosure Fears To Rest. Discover What Your Bank Does Not Want You To Know. Quickly Determine Which Option Is Right For You. Foreclosure can be a very frightening and humiliating experience. In many cases, it’s not even your fault! Whether we live alone or are the provider for loved ones, it is one of the most devastating financial challenges a family can face. But here’s the good news: 1. You’re Not Alone ! 2. Foreclosure Can Be Easily Avoided! One Thing The Bank Does Not Want You To Know… Before I share the ‘9 Alternatives To Foreclosure’ with you, I want to let you in on a dirty little secret: “The Banks Do Not Want Your House!” Although it may seem that way at times, it’s simply just not true! I need you to remember that. Banks are in the lending business, not the real estate investment business. They MAKE money when they loan out money. The borrowers then ‘perform’ on those loans or pay the money back with interest. They LOSE money when they have to hire attorneys to help take your property through foreclosure to get the title back, to then be able to force the sale, to then lose more money trying to re-market the property and get it ready for sale, to then pay commissions to list and sell the house. Again…all so they can get their money back…so they can go lend it out again at a profit! They do NOT like ‘non-performing’ loans on their books. These lenders have a lot to gain by working things out with...
Orange County Short Sale: Sick Of Your Loan Mod Taking Forever? Why Not Contact Congress?

Orange County Short Sale: Sick Of Your Loan Mod Taking Forever? Why Not Contact Congress?

Huntington Beach CA – We recently send everyone in congress a fax about a certain large bank. They had done a lousy job on a short sale file. We waited 90 days for an answer on an offer. Get my Free, Step By Step Loan Modification Guide by clicking here. The buyer got impatient and walked. Fortunately we had a backup buyer. Instead of using the BPO that Freddie Mac paid for and reviewing the new offer, the negotiator closed the file. Freddie Mac, the owner of the loan, stands to lose $75 spent on the BPO and 90 days worth of interest. We estimate Freddie’s loss over the delay to be around $1,249. Rather than just sit here and take abuse, we decided to stand up for ourselves. We found the entire list of fax numbers for congress, typed up a fax, and sent it out. If you loan mod is taking too long, then fax everyone in congress. Most many loans are federally insured or guaranteed. Examples are loans owned by Fannie Mae or Freddie Mac or insured by FHA, VA, and USDA. Uncle Sam is the backstop for a huge percentage of American Home Loans. That leaves these banks and servicers open to huge liability. If they mess up on a federally owned or insured mortgage, they are causing Uncle Sam to lose money. Send a fax and contact your congressperson and/or senators and let them know what is happening. Thinking about a loan modification?Our Huntington Beach loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on...
Are The Banks Lying To Uncle Sam?

Are The Banks Lying To Uncle Sam?

Huntington Beach CA – The Stop Foreclosure Institute recently received an e-mail from another real estate agent. They were asking for our advice on a short sale. They accused a large, national lender (one of the 4 largest in America) of lying to Fannie Mae. Fannie Mae is almost a subsidiary of the Federal Government. Here was the e-mail they sent us. ” The lender told the seller that they had to agree to a deficiency or the short sale would not be approved. The seller said that was unacceptable. They told us they wouldn’t go thru with the short sale unless the deficiency was waived. We notified the short sale negotiator and he sent us a short sale decline letter. The decline letter says buyer walked. That was a total lie! It appears that this lender told the owner of the loan, Fannie Mae, that the buyer walked when that was not the case. But, he told us that Fannie Mae was making them do it. I think they are showing this to Fannie Mae to cover their butts! Steve.” Get my Free, Step By Step Loan Modification Guide by clicking here. Our comments on this. This is a big deal. That lender’s legal obligation is to do what is best for Fannie Mae. Short sales usually reduce a lender’s losses by 20%, thereby netting Fannie Mae more money. For this lender to do this is a blatant violation of their legal obligation. Fannie Mae’s policy is to not pursue short sale deficiencies. They just write off the loss and move on. We have sold many short sales...

Huntington Beach Short Sale: Can I Rent My Home If It Is In Foreclosure?

Huntington Beach CA – The Stop Foreclosure Institute recently received a question about renting a home in foreclosure. Short Sale Question: I am selling 2 of homes that are short sales. I would like to rent the homes during the foreclosure process. I will continue to pay the home owners association fees. I will not be paying the mortgage. Is it legal to do this? Is there any liability that comes with it? Get my Free, Step By Step Loan Modification Guide by clicking here. Here was our answer to them. The Stop Foreclosure Institute is not a law firm. Therefore, we can’t answer as to whether or not it is legal. We recommend that you check with a lawyer before making a decision. We do know that there are laws forbidding that practice in many states. For example, Florida recently passed a law that stated that you had to notify any potential renter whether or not the home was in foreclosure before renting. From what we have heard about the law, if you lease a property in foreclosure and don’t tell the tenants, then it is a criminal offense. If it was a problem in Florida, then it was a problem in other states and they probably passed similar laws. We have seen cases in the past where a homeowner sold their home as “Owner Financing. The home was in foreclosure and buyers filed a police report. The sheriff’s office investigated the homeowner for fraud. The people who thought they were buying the home paid the owner a large down payment. They didn’t know the home was in...