Real Estate Investing Advice & Information

One of the best ways to make the right move when it comes to stopping foreclosure is to look towards an existing mortgage, with modification in mind. And in case you don’t know, this is one right move to stop foreclosure in its tracks.

This you do by actually approaching your original lender, which would be a bank or some other loan firm, and come clean about having troubles with the terms of the old mortgage you took.

Tell them you are interested in changing the terms on say, a temporary basis, such as reducing the interest rate on the loan, or altering its principal parts. You may be surprised to find that the lender often never minds to do this for you, so long as they can extend the amortization on the advance so that your overall payment may be reduced. This may admittedly be tough to realize, but that’s why you will have to go through it with a foreclosure negotiator. continue reading…

You may be eligible for a loan modification or up to $1500 for relocation assistance if you can answer yes to these questions.

1. Is your home your primary residence?

2. Is the amount you owe on your first mortgage equal to or less than $729,750?

3. Are you having trouble paying your mortgage?
For example, have you had a significant increase in your mortgage payment OR reduction in your income since you got your current loan OR have you suffered a hardship that has increased your expenses (like medical bills)?

4. Did you get your current mortgage before January 1, 2009?

5. Is your payment on your first mortgage (including principal, interest, taxes, insurance and homeowner’s association dues, if applicable) more than 31% of your current gross income?

If you do not qualify for the government incentives we can still give you Cash For Keys.

FAQ’s

What is a Short Sale?

It is when the lender agrees to accept less than the full amount due on a mortgage when a property is sold. Usually, the lender will accept this to avoid the time and expense of a foreclosure. continue reading…

When you’re dealing with a troubled mortgage, you may be tempted to just sign the deed of trust over to your lender and walk away. And it seems like a simple fix, just sign some documents and you’re off the hook, right? There’s more to a deed-in-lieu than just walking away, though. Before you decide to commit to this strategy, be certain you’re making an informed decision.

Most lenders will not allow you to consider a deed-in-lieu of foreclosure until your home had been listed for sale with a realtor for at least 90 days with no offers. Basically, a deed-in-lieu is just that, signing the deed of trust and giving the property back to your lender. It’s a step above foreclosure, but just barely.

Your lender must agree to the deed-in-lieu. Without their agreement, you may voluntarily sign the deed and mail your keys to the mortgage company. In that case, however, the property will go to foreclosure and you could be held liable for whatever monies the foreclosure auction does not bring to pay off the mortgage. That is, if the auction bid is less than the amount needed to pay off the mortgage, you may be held responsible. In some states, your lender may be able to pursue a deficiency judgment — which means they can sue you for the difference. continue reading…

Money problems are something that a lot of people are struggling with right now. Most of the time it’s something that can not be helped. Some of the things that can cause money problems are losing your job or sickness. When these things happen, you can lose your house because you’re forced to foreclose.

It’s a very sad thing when people must foreclose on their house. Some people have spent years living in their home and they have family close by them and don’t want to leave. If you find yourself in this situation, there is hope for you. There is a new mortgage loan modification program that can help you save your home. Applying for this new program is free. When you apply for it, you will find out that you can get a reduced mortgage up to 2% and depending on your situation, you might not have to pay for mortgage for years. continue reading…

Earlier this year, President Obama announced his $75 billion “Making Home Affordable” plan. This plan will allow homeowners in all sorts of bad situations to easily get a more affordable mortgage through new refinancing options. Millions of struggling homeowners are able to take advantage of this plan for themselves, here is how:

How does this program help homeowners?

This program offers cash incentives to mortgage lenders and banks who follow the plans guidelines, and approve homeowners for refinancing or mortgage modification. The money enables the lenders and banks to easily approve more homeowners without taking a huge financial risk. The plans guidelines though are where homeowners truly get the most help. continue reading…

Many homeowners are aware of the major benefits of green homes but there is another spectrum of benefits most will never be aware of. It is estimated that approximately 10% of the new homes built in the coming years will be green homes so I hope you feel the importance of learning about them.

First, what exactly is a “green” home? It is actually quite simply. A green home is just a home that much consideration has went into regarding materials and construction methods. The emphasis tends to lie with materials that are free of residual toxins and are sustainable. The logic behind this is that most people have dirtier air inside their homes than that which is outside. Cleaning up the chemicals that go into creating the materials goes along way in preventing pollution inside the home.

Another focus of a green home is to design a home that uses less energy or relies on renewable energy. Frequently green homes are at least partially powered by solar energy and typically use sun light for heating and lighting the home as much as possible. Not only can sunlight be used for heat and light sources but can also be used to heat water for domestic use as well. continue reading…

Something strange happened, and if you were born before the mid-1980s you likely know all-to-well what it was: a recession.

This recession has been so widely hyped up for many reasons, the least of which include the folding of several major American banks and the bankruptcy of an entire country (you did what you could, Iceland). However, more than anything, this recession has been so widely pumped-up simply because it was the first major recession that an entire generation of people had ever experienced. For those born in the 1980s and beyond, a recession was something they had never had the pleasure of experiencing. Until now, that is.

Not only that, but the Internet and the world’s ability to send and receive information in a tenth of a second makes it easier than ever before to transmit news. Of course, doom and gloom sells nearly as good as sex, and that’s what’s been all over TV and the Internet.

Economic Recession Myths: You Can Still Buy a Home, Dummy!

One thing that seems to be circulated more than anything is the myth that the recession, with all of its economic hardship and financial disparity, has made it impossible for your average Joe to purchase a home or obtain a mortgage. To be blunt: if you believe that, you are wrong. continue reading…

For those who are struggling to make ends meet and pay bills each month, you should know that when it comes to your mortgage, you have several options at your disposal. Whether you are a couple of months behind with your payments, or just now realizing that you may fall behind in the near future, these avoid foreclosure options could very well help you save your home.

The first thing in any financial crisis that needs to be done is that you have to realize that you have a problem. Hopefully, this realization will come before you find yourself in such a financial quagmire that there is little hope of holding your head above water. If you have this epiphany before your mortgage payments fall past due, you have more options available to you.

At the first sign of financial problems, you should contact your mortgage lender, let them know your situation, and calmly ask them if they have any options that may help you keep from falling behind on your payments. Depending on how long you have had the mortgage, and your past history with the lender, they may be willing to put you on some sort of hardship program, basing your monthly payment amounts on your income. This is especially a good option for those who suddenly find themselves living on one income, due to death of a spouse, divorce, or sudden disability/illness. continue reading…

As home values keep dropping yet property taxes keep increasing, tax foreclosure sales will become more common. Some homeowners experiencing double-digit percentage increases in their yearly tax burden, even as they are working fewer hours or taking pay cuts will inevitably come to realize that they can no longer afford to keep up with monthly housing costs that never go down.

Thus, tax sales will become more common throughout the country, especially in areas where the local government grew the most out of proportion to the surrounding community. The tax foreclosure and sale process, while similar to a regular foreclosure, also has a number of differences that make it both easier and more difficult to keep the house. Borrowers should be aware of how their local government can take their home.

Once a tax bill becomes due and is unpaid, it becomes a lien on the homeowner’s property. Typically, the lien is imposed on the first day of the year after the property tax is assessed by the county. Under statutes in many states, tax liens are given priority status over any other lien, including first mortgages. In order to protect their first mortgage lien, lenders require that property tax be paid through an escrow account. continue reading…

While mortgage refinancing can seem hard and confusing, it really it not that hard. Getting a proper refinance deal, even in with the economy in such bad shape, is pretty easy to get. With new Government programs, and mortgage rates near all time lows, refinancing a home loan now can save a homeowner a lot of money.

Even with the housing market and economy in such bad shape, the help is available for homeowners looking to refinance and save their home from being lost, or save money and prevent their home from being lost. Home loan refinance right now, with interest rates as low as they are, and new Government options which make refinancing easy, will benefit millions of homeowners. Also, with so many people facing foreclosure, refinancing offers a way out, and a chance to save your home from being lost. continue reading…