You Are Not Alone

         There were a total of 3,825,637 foreclosure filings in the US in 2010           (3,957,643 in ’09, 3,157,806 in ’08, 2,203,295 in ’07)

The total share of all distressed properties sold in California went up to 48% in May 2011 from 46% in May 2010

Existing home sales dropped 15.3% across the nation in May 2011

To make matters even worse, about 3.8 million U.S. homes are “vacant and held off the market, part of the large, so-called shadow inventory,” Assistant Treasury Secretary Mary Miller said in a June 9, 2011 address in Washington. Rick Sharga, senior vice president of RealtyTrac, said in an interview with Bloomberg Television that the number may be as high as 5.7 million homes. “At current sell-through rates, it could actually take us almost 12 years to work through that inventory,” Sharga said on Bloomberg Television.

Our Nation is undergoing the worst economic crisis since the Great Depression and millions of people are facing the same financial hardships that stem from the current Housing Market Crash that has overwhelmed our entire financial system since 2007. It will take many more years for our Housing Market to even partially recover from this devastating downturn.

The National Association of Realtors conducted a survey in which respondents said buying/selling a home was the 2nd or 3rd most stressful event in their life.

One can only imagine the stress, suffering, and pain that comes from losing a home. For most people, this is all too overwhelming. Emotions run from anger to fear to hopelessness.

WE ARE HERE TO HELP! You did not invite this problem on yourself and most likely you will not be able to solve it on your own. We want to show you that there is a quick, effective, and dignified solution for you and your family to regain your financial security and prepare for a brighter future.

Call (877) 728-5942 or email us at SFFinancial@hotmail.com

Is This You?

Did you purchase your home with an adjustable rate mortgage or with little or no money down in the last 8 years?

Did you purchase your home never expecting property values to decline so steep and so quickly?

Have you been on hold for over 3 months waiting for the bank to answer your request for a loan modification?

Are your credit card balances and your living expenses increasing?

Has your income gone down?

Are you behind or about to fall behind on your mortgage payment?

Do you have 1, 2, or 3 mortgages with interest rates above 6%? Do you have an interest only loan?

Is your mortgage balance the same as it was when you purchased your home? Is it more?

Has your property declined 20% or more in value?

Are foreclosure and short sale properties increasing in your neighborhood?

Are you depleting your family’s valuable savings just to stay afloat?

If you answered YES to any of the above questions you could be heading into a serious default situation. You must act quickly to plan an astute exit strategy and avoid foreclosure.

Call (877) 728-5942 or email us at SFFinancial@hotmail.com

The Housing Market Freefall

How long will it take to recover your home’s value? If you bought your home for $500,000 in 2006 and today’s market value is $325,000 how many years will it take to come back up to $500,000?

One measurement is to know the history of your home’s value. If the last time your home sold for $325,000 was in 2001 then it took five years to reach $500,000. But those were years of record breaking appreciation and today no one expects to see that kind of appreciation again.

Without effective and more functional government intervention the current situation will continue for many years to come. This is due to the sheer number of new foreclosure filings, underwater homeowners, shadow inventory, high unemployment, sputtering economy, etc .

Know Your Options Before You Have No Options!

Call (877) 728-5942 or email us at SFFinancial@hotmail.com

Government Bailout?

What has the $11 Trillion Government Bailout Done for You?

(click here for CNN Bailout Tracker)

You keep thinking that something will happen…but nothing does. You see what is happening to banks and financial institutions. They are allowed to write off their bad debts, and then they asked for even more government money. They are now making record profits.

Banks will sometimes modify the mortgage rate for their clients, but they still need to make money on your loan so the limited rate reduction usually only saves a few hundred dollars at best. Worse yet, almost all loan modifications never reduce your principal balance. This means that if you are $50,000 or more underwater you will have many years, possibly decades, of negative equity dragging you and your family’s net-worth and investment power down the entire time. To qualify for a loan modification you still need to qualify with enough stable income to support all of your debts including your unchanged property taxes, insurance, HOA dues, credit card and auto payments, phone bills, etc. This is a very time consuming and stressful underwriting process and nothing is guaranteed. Six months into a loan modification process and you may find that you do not qualify having only slipped even further into financial jeopardy.

What about your increased credit card balances???

What about your family’s depleted savings accounts???

How are you going to help secure your financial future???

Where’s the REAL financial relief you need???

  The government, however, does WANT YOU back in the housing market to help solve the current housing crisis that we will continue to witness for years to come.

Fannie Mae & Freddie Mac changed the waiting period to purchase another home after a short sale to only 2 years!

FHA will insure a loan up to $625,000 at a low fixed rate with no prepayment penalty and as little as 3.5% down payment in only 2 years after a short sale!

Lender & Government incentive programs, such as HAFA, allow up to $3000 paid to YOU for completing a short sale

With property values remaining low for many years to come, there is no better time than now to stop the bleeding and begin your financial recovery right away!

Call (877) 728-5942 or email us at SFFinancial@hotmail.com

Short Sale Vs. Foreclosure

A Short Sale is when the bank agrees to take less than what the borrower owes and is reported as a “settled account” on your credit report. While this does negatively impact your credit for the time being, the damage is far less severe than a foreclosure since you have chosen the dignified path to help remedy the situation than to just walk away. Your credit will recover much faster from a settled account than from a dreadful foreclosure or bankruptcy. And with our short sale strategy we have control over the time you have remaining in your home. You will never have to worry about the bank kicking you out, and there will be no embarrassing foreclosure notices posted on your property. Our professional services come to you at NO COST as the banks pay us for our intelligent exit strategy.

A Foreclosure is a legal proceeding where the bank exercises it’s legal right to regain ownership of your property when your mortgage is left unpaid. During a foreclosure the bank is in control of your remaining time in your property which can cause an incredible amount of stress for you and your family. Your credit will show a “foreclosure” status on your unpaid mortgages and will burden you for 10 years.

Call (877) 728-5942 or email us at SFFinancial@hotmail.com

Stop The Bleeding Now

If you are facing financial hardships or are just beginning to explore your options because you foresee problems on the horizon, there is no better time than right now to contact us to find out what options are available to you. We will not give you false hope or waste your time.

Explore Your Options Before You Have No Options!

You are the only one who can stop the bleeding, and we are here to help. We understand how difficult this is for you and your family. We also understand and have first hand knowledge of how difficult it will be for you if you do not take immediate action. There is no gain to be made by waiting. Any future mortgage payment may truly be a waste of your hard-earned money if you are in need of a short sale solution. Don’t risk your family’s financial security any longer.

Our efficient strategy normally takes at least 3 or more months. During this time you stop paying your mortgage payments and your property taxes.

What do you pay each month for your mortgage payments?

What do you pay each month towards your property taxes?

Add these monthly payments together and multiply by 3, 4, 5 or more months and you’ll instantly see what you can put back into your family’s drained savings accounts or increased credit card balances. We will develop a personalized timeline with you and your family to make sure we maximize the benefits of our intelligent exit strategy.

Call (877) 728-5942 or email us at SFFinancial@hotmail.com

The HAFA Program

The Home Affordable Foreclosure Alternatives (HAFA) Program is a government-sponsored initiative led by the US Treasury Department, administered by Fannie Mae with Freddie Mac, and executed by participating lenders & servicers to help homeowners avoiding foreclosure, specifically through short sales or deeds-in-lieu.

Benefit to the homeowner:

• If you qualify, and your lender is willing to participate, you will receive $3,000 at the end of the short sale transaction
• Your short sale is approved quickly up front, thus alleviating the stress and uncertainty typically associated with short sales
• 2nd and/or 3rd mortgages can be settled promptly if these lenders are also HAFA participants
• The lender waives any rights to pursue you for the deficiency

Homeowner Eligibility:

• You live in the home or have lived there in the last 12 months.
• You have a documented financial hardship.
• You have not purchased a new house within the last 12 months.
• Your first mortgage is less than $729,750.
• You obtained your mortgage on or before January 1, 2009.
• You must not have been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering or tax evasion, in connection with a mortgage or real estate transaction.
• Other conditions may apply

HAFA is available for mortgages that are either owned or guaranteed by Fannie Mae and Freddie Mac or serviced by over 100 HAMP participating servicers.

Find out HERE if your home is owned by Fannie Mae or Freddie Mac

A list of HAMP participating servicers can be found HERE

Call (877) 728-5942 or email us at SFFinancial@hotmail.com

The Credit Card Trap

If you can’t afford your mortgage payment or property taxes, don’t make the mistake of using your credit cards. They only compound your problems.

You can no longer discharge your credit card debt through bankruptcy!

Tragically, many have run up their credit card debt in an attempt to keep their home.

IF YOU CAN’T AFFORD YOUR PAYMENT…YOU CAN’T AFFORD YOUR PAYMENT!

You can only borrower from Peter to pay Paul for so long. Unfortunately the result is almost always the same. Maxing out your credit cards damages your credit and further limits your family’s financial security. The balances will not magically disappear.

Our proven strategy will instantly allow you to start saving money so that you can quickly regain control of your finances and begin planning for a brighter, debt-free future!

Call (877) 728-5942 or email us at SFFinancial@hotmail.com

Your Timeline

Step #1: Contact us immediately by phone or email so that we can discuss your unique situation to make sure you understand ALL of your options at this time and which option is BEST for you and your family.

Step #2: Gather all required documentation needed to complete your short sale package by following this detailed checklist.  We will generate all listing contracts, lender-specific forms, and authorizations for you to sign during this time period.  The homeowner can either email, fax, mail, or drop off all of these documents once everything has been collected and signed.

Step #3: The house is discretely placed on the market and viewings of the home will be scheduled for potential buyers. A home is typically viewed in no more than 10-15 minutes, and is always held with a licensed CA Real Estate Agent. These viewings can be scheduled with the homeowner, but the homeowner does not need be present at the property. This is predetermined between you and the agent before the house goes on the market.  We typically get acceptable offers within 2-3 weeks of a house being listed.  We’ve received acceptable offers in as little as 24 hours after the property was listed on the MLS!

Step #4: Once an acceptable offer is received, the offer is submitted to your lender along with the complete short sale package. We then follow up with the bank, collect all trailing documents they may request, and ensure that the file moves along as efficiently as possible.  This process usually takes about 2 to 3 months, and during this time we will begin to help you and your family find a great new place to live.

Step #5: Once the approval is received from your lender, escrow will officially open. This escrow period can range from 30 to 60 days and you will always know your pre-determined closing date.  It is during this escrow period that you must find a new place to live as it is necessary to move-out before the final week of the escrow.

We always do our very best to accommodate our clients with a customized timeline depending on their unique scenarios.  Some clients want a fast transaction in order to enjoy a fresh-start as soon as possible, while others strategically need a long, drawn-out transaction in order to save much needed funds.  Regardless of when you start the process, a short sale is typically completed within 4 to 6 months following the steps mentioned above.

Call (877) 728-5942 or email us at SFFinancial@hotmail.com

Life After A Short Sale

LIFE AFTER A SHORT SALE

The big questions you will face after a short sale are:

Q: Where will I live?

A: It is important to understand the cost of owning your home was well above the cost of renting a comparable home. Look at the rental rates in the neighborhood where you live. Rents are much lower than your mortgage payment. After a short sale, more likely than not, you will be able to rent a nice home in the same community for 25%-50% less than your current housing payments.

Q: Who will rent to me after my credit score drops?

A: This is why it is important to order a copy of your credit report while your credit is still good. This way you can show a future landlord what your credit was like before this single adverse event happened in your life.

Cash is king and money talks. Be prepared to make a larger deposit and you will surprised how many landlords will take your money. You will end up renting a very nice place for a lot less than your mortgage payment and the monthly reduction in your housing expense will quickly offset your deposit.

Q: What if my credit cards are cancelled or what if my credit limits are dramatically lowered.

A: This could happen so you need to be prepared. Since you will not be making a mortgage payment for four, five, six months (or more) set aside some of the money you save to get a secured credit card. This is a smart thing to do because it will give you a small financial cushion, guarantee that you will always have a credit card and will help to rebuild your credit. Almost all banks will issue you a secured credit card.

Q: What if I need to buy a new car?

A: Buy it now while your credit is still good. A new car by itself will not prevent a short sale. Everyone needs transportation. Use common sense in the selection of a new car.

Q: After the short sale is over will the bank have a right to collect money from me at some future date.

A: No! We make sure to get the banks to state that the short sale will settle all of your liens. There are no deficiency judgments in California for purchase money loans on primary residences. Most lenders will gladly allow the proceeds from the short sale to settle all other mortgages attached to the property as well. In extremely rare instances a lender may request contributions from the seller, but this only happens if a true financial hardship does not exist or if the property is not your primary residence. However, we would be notified of this early on by your lender and would work very closely with our successful negotiating staff to resolve this matter before the close of the transaction.

Q: How long will it take me to rebuild my credit?

A: You can wipe out the effects of a short sale in two years and the government is standing by to help you. Only two years after a short sale the government will insure a loan for you up to $625,000 under FHA guidelines. One loan instead of two. A fixed rate instead of an adjustable rate, no prepayment penalty and all you need is a 3.5% down payment. An FHA loan is not credit score driven. If your credit score is still marginal in two years you can still qualify for an FHA loan under the most favorable lending conditions. As soon as you purchase another home your credit score will soar even higher!

Call (877) 728-5942 or email us at SFFinancial@hotmail.com