You Are Not Alone

4,000,000 mortgages are newly delinquent in August 2009.

This number DOES NOT include the millions already in foreclosure!

25,000,000 mortgages (48% of ALL mortgages) will soon be “underwater”

(click on articles above)

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 will take years to quell, and many more years to even partially recover from.

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 and effective way for you and your family to regain your financial security and prepare for a brighter future.

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

Is This You?

Did you purchase your home in 2005, 2006 or 2007 with a 2,3 or 5 year adjustable rate mortgage?

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?

Does your credit card debt and your living expenses continue to increase?

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

Do you have 2 loans with interest rates above 6% and 11%? Do you have an interest only loan?

Has your income gone down?

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 ShortSaleSolutions@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 until 2012.  This is due to the sheer number of adjustable rate mortgages that were funded between 2005 and 2007.

The First Wave of foreclosures was the result of the 100% loan-to-value two year adjustable rate loans funded in 2005.  The first wave devastated property values and put even more people at risk with the drastic reduction in equity we all experienced.

We are currently experiencing the Second Wave of foreclosures.  These are now the result of the 90% -100% two year and three year adjustable rate and the popular pay option mortgages that were funded in 2005 and 2006.  Even the people who bought with 20% down payments during this period are now at risk having lost so much of their equity. This wave of foreclosures will continue through 2009 and 2010.

The Third Wave of foreclosures will begin in late 2009 and will be the result of the 80% – 100% five year adjustable rate and pay option loans funded in 2006 and 2007.  This will devastate property values even further.

(View this 60 Minutes segment describing the next devastating wave of foreclosures!)

http://www.cbsnews.com/video/watch/?id=4668112n

Some areas have already seen over a 50% drop in equity just in the last 24 months.  This means that anyone who put 20% down or less on a home purchase in the last few years is now facing a difficult situation with limited options.  This problem will continue to exasperate for years to come.

10 Reasons Why No Housing Recovery in California in 2010

(click on article above)

Know Your Options Before You Have No Options!

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

Government Bailout?

What did the $700 Billion Government Bailout do for You?

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 ask for even more government money.  You do not get the same deal!  The best deal you get from Uncle Sam is just a restructuring of your current loan amount on your devalued property.  The few who qualify are offered a lower payment, but are required to sign an agreement to pay back ALL of what they owe at a future date with interest.  It is a complicated form of equity sharing that the government will want from you for their mortgage “bailout” program that truly only benefits the banks and not you.

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 slipped even further into financial jeopardy, or at best you can possibly get a lower mortgage payment.  However, the banks will know how much you can truly afford and their final decision will keep you “maxed-out”, barely affording all of your payments, but giving them the most interest on the balance you still owe them.

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 the next few years.

Fannie Mae just 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!

Freddie Mac is even paying banks $2,200 for each short sale transaction they successfully negotiate!

With property values remaining low for 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 ShortSaleSolutions@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” in lieu of a foreclosure.  While this does negatively impact your credit for the time being, the damage is far less severe than a foreclosure since you have chosen a 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.  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 ShortSaleSolutions@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 ShortSaleSolutions@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 ShortSaleSolutions@hotmail.com

Your Timeline

The first month you anticipate missing a mortgage payment is the month you should list your home ‘For Sale”.  In the beginning we list your home for full price.  Full price is the amount it takes to pay off the bank in full.  Then we begin to lower the price every week until we stimulate buyer interest.

Unfortunately we cannot begin negotiations nor can we submit our offer until you are thirty days late on your payment.  Once you are thirty days late our investors submit an all cash low ball offer.  The bank will not accept this offer but the offer gets the process started.  A case number and a loss mitigator are assigned.

During the second month the price of your home will have been lowered sufficiently to stimulate buyer interest.  Normally the earliest we can receive an offer that the bank will accept is in the second month.

It normally takes a bank three months to accept an offer.  This will take you to the middle of the fourth month or the beginning of the fifth month.

During this four or five month period you make no mortgage or property tax payments.

Regardless of when you start the process it takes a minimum of four to five months and in some cases longer.

Keep in mind the bank must accept an offer before an escrow can be opened.  The escrow normally takes thirty days and always has a pre determined closing date.  You will know thirty days before you are required to move.  During this time we will help you find a new place to live.

Example:
1.  You list your home for $450,000 on January 1st.
2.   By February 1st  the price of your home will have been reduced to approximately
$300,000 or the current market value of your home.
3.  On February 5th our investor makes an all cash offer for $240,000.  The bank rejects
the first offer but your file has been opened, we have a case number and a loss
mitigator has been assigned to your file.
4.  On February 10th we receive a qualified offer for $300,000 and we begin negotiations with the bank on the $300,000 offer.
5.  Some time around April 1st the bank accepts the offer and we open escrow.
6.  You move by April 30th.

You will have not made your January, February, March or April mortgage payment.

Call (877) 728-5942 or email us at ShortSaleSolutions@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 or six months 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!  There are no deficiency judgments in California for purchase money loans.

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 and most likely it will be… 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!

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