Category Archives: Foreclosure

Heather Gennette Earns Real Estate, Short Sale Designation to Help Homeowners in Danger of Foreclosure

Heather Gennette of Vernazza Realty has earned the prestigious Certified Distressed Property Expert® (CDPE) designation, having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education amassed by Gennette will help benefit South Orange County area residents and communities.

Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

Today, more than 13 percent of homeowners are delinquent on their mortgage or in the foreclosure process. This is occurring across all price ranges, and the fastest-growing category of homes in foreclosure is the luxury home market.

“The CDPE designation has been invaluable as I work with homeowners and lenders on complicated short sales,” said Gennette. “It is so rewarding to be able to help families save their homes from foreclosure.”

Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as Heather Gennette, with the CDPE Designation have valuable perspective on the market, and training in short sales that can offer homeowners real alternatives to foreclosure, which can be devastating to credit ratings.

“These experts better understand market conditions than the average agent, and can help sellers through the complications of foreclosure avoidance,” he said.

The Distressed Property Institute provides live and online courses to train real estate professionals how to help homeowners in distress, with a strong focus on handling short sales.

“Our goal is to help as many homeowners as possible, by educating as many real estate professionals as possible,” Charfen said. Heather Gennette has demonstrated a commitment to struggling homeowners, a commitment that can provide much-needed stabilization to the community.”

For more information about CDPE Designation, visit www.cdpe.com. For more information about Heather Gennette visit www.heathershomesoc.com.

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Luxury Home Sales Outperform Other Price Ranges This Summer

Gloomy news that July sales of existing homes dropped 25.5% year-over-year has overshadowed new statistics showing summer sales of million dollar plus homes significantly outperformed other price ranges.

“Luxury home buyers have been buying this summer,” said Patty Da Silva, Broker – Owner REALTOR® of Green Realty and member of The Institute for Luxury Home Marketing . “After waiting in the wings, many affluent buyers spent the summer shopping for value and snapping up trophy properties.”

Statistics would indicate that he’s right. According to The National Association of Realtors (NAR), for 2009 million-dollar and above home sales were just 1.2% of total sales or about 61,500 sales nationally. In July 2010, million dollar plus market share was up to 1.9%. While sales of homes in the $500,000 and above range rose dramatically in June, the million-dollar-plus market segment was the only price range in July showing positive growth compared to last year. “The mix of what is selling has shifted in favor of homes priced at $750,000 and above,” said Christopher Green, CDPE, REALTOR® and Manager of Green Realty.

NAR’s report that July’s median sales price increased 0.7% year-over-year may be more a function of increasing sales of expensive properties relative to other price ranges than an indicator of across-the-board home price appreciation.

According to the Institute for Luxury Home Market (ILHM) National Luxury Market Report — which does a weekly analysis of luxury homes for sale in more than 30 major markets — after a dramatic rise in upper-tier inventory, which started in January of this year, the numbers of luxury homes for sale has declined about 5% since the beginning of July. Along with a decrease in inventory, there has been a decline in asking prices. Forty three percent of luxury homes currently on the market have had at least one reduction in asking price over the last 90 days. An additional 19% have been pulled off the market and subsequently relisted.

“While I wouldn’t say the luxury market is in recovery,” said Da Silva, “the growing market share of luxury sales relative to total sales, a slight downward trend in inventory, and sellers who are more realistic about price are factors shifting the affluent into a buying mode.”

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Green Realty Has Announced Their Goal To Have ALL Of Their Agents Earn The CDPE Designation

Millions of U.S. homeowners are in need of real solutions. With our industry vision and agent education, Green Realty looks forward to our continued work to help alleviate the current South Florida foreclosure crisis. Green Realty has announced their goal to have ALL of their agents earn the Certified Distressed Property Expert® (CDPE) designation. In March 2009, Green Realty Broker and Owner Patty DaSilva ambitiously promised that all Green Realty agents would be in line to earn the CDPE designation in an effort to help stem the rising tide of foreclosures by the end of the year. Fifty percent of Green Realty agents have met that goal, and now Green Realty is promising to sponsor all of their agents who register to become CDPE’s! Patty DaSilva states, “Green Realty is aiming to sponsor 100% of all Green Realty agents in the next year.”

“After earning the designation myself, I quickly realized that CDPE training equips our agents with the skills they need to help homeowners facing foreclosure; in fact, agent surveys prove that’s the case,” DaSilva said. “CDPE training is invaluable in this marketplace and has provided the skills and resources that have made many agents successful during a difficult time.”

“This promise is recognition of the dedication Green Realty has shown to the Davie, Cooper City, Southwest Ranches and Plantation real estate industry, and also to their agents’ knowledge base,” Christopher Green, Manager and Marketing Director of Green Realty, said. Chris continues, “Millions of U.S. homeowners are in need of real solutions. With our industry vision and agent education, Green Realty looks forward to our continued work to help alleviate the current South Florida foreclosure crisis.”

The CDPE designation trains agents in foreclosure-avoidance alternatives, including short sales. A short sale is a real estate transaction in which a home is sold for less than the amount owed on the mortgage. According to the Mortgage Bankers Association’s National Delinquency Survey, 15% of all U.S. mortgages in the fourth quarter of 2009 were either delinquent or in the foreclosure process ; this translates to approximately 1 in 6 homeowners nationwide facing financial hardships.

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Christopher Green, Certified Distressed Property Expert And Realtor, Earns Prestigious Designation To Help Homeowners In Danger Of Foreclosure

Christopher Green of Green Realty Properties, Inc., has earned the prestigious Certified Distressed Property Expert (CDPE©) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Chris Green tells his clients in Davie, Cooper City, Southwest Ranches and Plantation that a Short sale will allow the cash-strapped seller to repay the mortgage at the price that the home sells for (current market value), even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. Lenders are receptive in considering short sales because they are much less costly than foreclosures.

In Davie, Cooper City, Southwest Ranches and Plantation alone there are hundreds of homes in danger of foreclosing. It is happening in all price ranges including the luxury home market. Local experts say that high-priced luxury homes are now going to be the biggest wave of foreclosures but the home owners should contact a luxury short sale expert to explore their options. The Broker of Green Realty in Davie, Florida, Patty Dasilva is the leading luxury short sale expert in South Florida.

“This CDPE© designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Chris Green, CDPE©. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Patty Dasilva, Broker-Owner of Green Realty in Davie, Fla., said that Realtors® such as Chris Green with the Certified Distressed Property Expert (CDPE©) designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These CDPE© experts like Chris Green also may better understand market conditions and can help sellers through the emotional experience, he said.

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Traditional Selling Methods No Longer Work for Austin Real Estate

Homes in Austin, TX are still selling but traditional methods no longer suffice.  Realtors and sellers alike now need to spend a lot more time preparing and marketing the home to attract the largest buyer pool possible.

Traditional Selling Methods No Longer Work for Austin Real Estate

Austin Real Estate Group AustinRealtyConsultants.com of JB Goodwin Realtors prove new systematic approach to selling homes in Austin.

Gayle and Jack had a home in Sun City (North of Austin) that was listed with a “Sun City Expert” for 1 year prior to meeting Farrah and Robert Guice.  Needless to say, their home did not sell and when their listing expired with the other realtor they immediately hired Farrah and Robert from AustinRealtyConsultants.com to market their property.

The Guices advised for pricing to be slightly tweaked based on historic and projected market trends, made a few low cost high-impact changes to their home in conjunction with targeted marketing and received an offer 2 weeks after listing the home.

Everyone was a pleasure to work with and all sides were extremely happy with the outcome.

Here is what Gayle and Jack had to say about their experience selling their home with Farrah and Robert:

Farrah and Robert,

Miracles of miracles!  EVERYONE – sellers, buyers, buyer’s realtor, title company – all enjoyed working with you both and had nothing but good things to say.

As much as we miss Stefan and Martha, we are thrilled they found you and shared [you] with us [before they moved away].  We too, will be recommending you.

Gayle & Jack
Austin, TX – Avery Ranch

Farrah and Robert can’t promise to sell your home in 2 weeks but can promise to utilize proven strategies/systems to price, prepare and market your home.  Remember, promises don’t sell homes, processes do.  The process used by AustinRealtyConsultants.com consistently allows their clients to sell their home for the maximum value in the quickest amount of time.

If you are thinking about selling your home in Austin, start by requesting a free, no obligation Austin House Value report or take a look at current inventory of Austin TX homes for Sale.

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‘Shut Down Fannie Mae and Freddie Mac,’ says James Boswell, Award-Winning Public Risk Manager and Author of Crush Depth Alert

In the early 1990’s James Boswell managed risk for Ginnie Mae’s $500 billion portfolio of mortgage-backed securities during the Savings & Loan crisis. A hands-on manager, Boswell used his unique analytical skills to help rescue the U.S. mortgage banking system and to save taxpayers billions of dollars during those years, for which he received a Vice-Presidential Hammer Award.

Today, housing is once again the linchpin to a financial crisis. In his new book, Crush Depth Alert: Solutions for Supplying Power to American’s Distressed Financial Systems, Boswell brings to the current mortgage debt crisis his insider’s view on the risks and operations of mortgage-backed securities. Using statistical data and qualitative analysis, he shows why Fannie Mae and Freddie Mac cannot be allowed to continue in their current forms. They dominate the housing market touching 90% of all new loans by some estimates; they set home mortgage interest rates while having the option to cherry-pick what they will sell from their portfolios; they have manipulated consumer dynamics to create family and national debt while paying dividends to shareholders.

Taking aim at these Government Sponsored Enterprises—not as an academic or political pundit, but as a risk manager—Boswell recommends an immediate shut down, but he goes further. “Fannie Mae and Freddie Mac should be replaced with a simple program that rewards responsible homeowners, who have excellent credit and significant equity, with a fixed 30-year mortgage at a 4% interest rate on any home up to $500,000. People who are paying down their mortgages are the real heroes in this economy and should be treated as such.” Boswell also adds, “This new program should be under the Federal Reserve where other interest rates are handled. Such a move would do much to stimulate our economy and reward the deserving. I’m working on these figures now.

Continuing as we have maintains the same weaknesses and encourages another housing crisis down the line.”

A Fannie Mae/Freddie Mac shut down is just one of the solutions covered in Crush Depth Alert, the only book written about this financial crisis by a manager who has successfully navigated a previous one.

Look to Crush Depth Alert—
* to understand the incentives and poor oversight that led to this crisis,
* to understand the role of panic in accelerating a crisis rather than solving it,
* for actions to strengthen institutions that are working well, such as the FDIC, and to eliminate those that are not, such as Freddie and Fannie,
* for monitoring the health indicators in financial systems through an effective perfor- mance ranking and rating system (detailed in Chapter 8). Prevention is the best solution!

James Boswell, B.A., M.P.A., M.B.A., worked in the late 1980’s to the late 1990’s as a Risk Manager at the public accounting firm, Coopers & Lybrand (now PricewaterhouseCoopers). He guided Ginnie Mae and its $500 billion government-guaranteed portfolio through a Savings & Loan crisis in which more than 700 financial institutions collapsed. He received a Vice-Presidential Hammer Award for his efforts and significant industry recognition, including publications with Mortgage Banking Monthly and The Handbook of Mortgage Banking. He is a product of Admiral Rickover’s highly regarded Nuclear Submarine program and holds graduate degrees from Indiana University School of Public and Environmental Affairs and the University of Pennsylvania Wharton School. He resides in Culver. Indiana, working as Executive Director of his company, Quanta Analytics, which provides consulting services and a list of 374 U.S. Banks in trouble for 2010.

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JB Goodwin Realtor Rocky Breon Says Drop In Mortgage Rates Is Good For Real Estate

Home mortgage rates dipped to their lowest point all year the second week of May 2010. Greater Austin area JB Goodwin Realtor Rocky Breon says this lower rate should make homes more affordable just in time for the busy Summer selling season.

JB Goodwin Realtor Rocky Breon Says Drop In Mortgage Rates Is Good For Real Estate

“People who are planning to buy a home in the Cedar Park and Leander area this Summer should take advantage of these lower mortgage interest rates,” Breon says.

The most commonly used loan, the 30-year fixed-rate mortgages, averaged 4.93 percent for the week of May 13, down from the week before of 5 percent, according to a survey released by Freddie Mac. Reuters reported that this is the lowest the rates have been since December 2009.

“With the homebuyer tax credit now over, this is a welcome reprieve for individuals looking to buy now,” adds Breon. “Summer is a widely-known as a busy time for the real estate business here in Austin. The drop in mortgage rates is an added benefit for both buyers and those looking to sell their homes.”

The deadline for apply for the homebuyer tax credits was April 30 and those who signed contacts before that date still have until June 30 to close on the sale.

“The federal tax credits gave the housing market a shot in the arm, and now lower home mortgage rates should help the real estate market recover even more. I am optimistic about the future of the real estate market, especially in the Cedar Park and Leander area.”

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US Loan Auditors Applauds California Attorney General Jerry Brown’s Crack Down on Phony Loan Audit Scammers

US Loan Auditors announced today that they are endorsing California Attorney General Jerry Brown’s crack down on “phony loan audits” and “loan modification” scam artists by warning California families that scammers are out to steal their hard earned homes and money.

“It is a shame that people would setup a storefront and call themselves a foreclosure relief agency just to steal from local families,” said Shane Barker, one of the founders of US Loan Auditors. “It is absolutely critical that consumers do their research into the company they are working with and extensively check references before assuming a firm has experts. We have never done, and will never do loan modifications. Our audits are specially designed for attorneys to take right into court.”

US Loan Auditors is not a loan modification firm, but instead is specialized in using the science of forensic loan auditing to help victims of predatory lending, and their legal counsel, uncover violations during the loan documentation or loan origination process. Customers can rest assured that the principals of the firm have extensive mortgage industry experience and the company backs up its expertise by offering a free upfront consultation for their forensic audit services.

“Our audits are not performed with a loan modification in mind,” Barker said. “We do the forensic loan audit to help give homeowners the leverage they need in court, not for a loan modification. Beware of companies promising big results after illegally collecting a large upfront fee.”

Along with a large upfront fee, scam artists may request the transfer of the title of the house to the “rescue” firm; making the mortgage payments to the scammer instead of the lender; and even prey on people that sign paperwork without carefully reading the documents or having an attorney review them.

“Unfortunately, some people are becoming victims twice,” Barker said. “Please be aware of the warning signs of a scam artist and take steps to protect yourself, your home and your family from further risk.”

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HomeTelos LEO Program Achieves Market Success as Foreclosure Alternative

HomeTelos Loan Exit Option (LEO) program has demonstrated market success as an effective approach in avoiding foreclosure for borrowers, investors, and mortgage servicers. The LEO pre-foreclosure home sale program is faster and has significantly higher closing success rates than traditional short-selling programs. The HomeTelos LEO system aligns the interests of borrowers, servicers and other interested parties through its unique workflow management system, which qualifies properties for pre-foreclosure sale. When qualified, LEO then facilitates property sales through its dynamic online marketplace that brings motivated sellers & buyers together. Mortgage servicers can better help borrowers avoid foreclosure through HomeTelos’ integrated and streamlined LEO system and processes. Costly, frustrating, and ultimately unsuccessful sales efforts are avoided without heavy staff demands being imposed on servicing operations. HomeTelos LEO Program Achieves Market Success as Foreclosure Alternative

Since LEO’s launch last year, LEO properties upon listing have averaged 37 days on market, 4 offers per property and sales prices that average 96 percent of list price. A key to this success is real-time communication between real estate brokers, servicers and investors, allowing LEO to average only 3 days from buyer’s offer submission to servicer’s acceptance or rejection. According to a Florida borrower, “we were getting nowhere, losing our job then our home. We appreciated the quick action in getting our short sale resolved in this market”. LEO provides loan servicers with assurance that the property is widely marketed, offers represent real market value and that closing issues are resolved in advance. Borrowers avoid foreclosure proceedings, critically damaged credit ratings and the threat of lender recourse for loan payment shortfalls.

According to HomeTelos President Stephen Polley, “LEO’s success is driven by its breakthrough combination of innovative technology and re-engineered workflow processes for achieving the combined critical objectives of servicers, borrowers and other interested parties. LEO provides a way for families under financial stress to have a mortgage option that allows them to relocate with dignity.”

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Self Directed IRA Holders Find A Silver Lining To The Foreclosure Crisis

With foreclosures at all time highs and the stock market still not quite on solid ground, investors are focusing their activities on other markets, especially stable commodities and real estate. According to the latest indicators, it seems certain that the unprecedented level of foreclosures is set to continue even as the housing market slowly recovers. For many, it’s a tragic situation – and for others, a time of unparalleled opportunity.

There are quite a few IRA holders who are also interested in making investments in real estate given the sheer number of homes either in the foreclosure process, or already owned by financial institutions. However, traditional IRAs don’t allow the holders of these accounts the freedom to decide that they would like to take advantage of current market conditions to make investments in this very exciting market.

The answer may lie in something known as a self directed IRA, which as the name implies, is a retirement fund, which allows for the holder to make decisions about where their contributions to the account are invested – including in real estate, as president of the Austin firm Truly Self Directed, Josh Moore explains:

“Unfortunately, it does not appear that the current wave of foreclosures is going to subside anytime soon. Many investors are uncertain about the stock market and a lot of people are turning to what they know versus the unknowns of the stock market.”

“People with IRA / 401ks are looking for something they know can provide them a return on their investment – and that’s real estate. Investors who purchase real estate with IRA funds may actually be an important part of a viable free market solution to a less than ideal situation,” adds Moore.

About Truly Self Directed:
A self directed IRA such as those offered by Moore’s firm allow investors to take funds earning very low returns in traditional investment vehicles and put them to work as they see fit, including profitable sectors like real estate and development.

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US Loan Auditors aids US Legal Advisors in filing Legal Action for Predatory Lending Against American Home Mortgage

Based on the results of a forensic audit done by US Loan Auditors, US Legal advisors announced that it has filed a lawsuit against American Home Mortgage Servicing on behalf of Karen Gardner-Johnson because of our intensive forensic loan audit of American Home Mortgage Servicing documents, indicated potential mortgage loan fraud and predatory lending abuses.

US Loan Auditors aids US Legal Advisors in filing Legal Action for Predatory Lending Against American Home Mortgage

“We have conducted numerous forensic loan audits of American Home Mortgage Servicing mortgage documents and have recognized several common potential predatory lending indicators such as prepayment penalties, product steering, kickbacks, forgery, and overstated income abuse” said Jim Sandison, one of the founders of US Loan Auditors.“Many of these violations are a direct violation of the Federal Government Consumer Protection Acts such as RESPA, HMDA, ECOA and TILA.

The lawsuit was filed today in US Federal Court, Eastern District of California on behalf of Karen Gardner-Johnson. The first court date in this legal action is a Joint Status Conference. Because these cases are filed in Federal Court the Magistrate/Judge that is assigned at the time of filing the complaint will rule on all matters pertaining to this case, until this case either settles or is set for trial. The compliant calls for American Home Mortgage Servicing to stop the foreclosure based on potential evidence of subprime or prime lending abuse.

“We really want to stand up for local homeowners that may have been taken advantage of by predatory lenders” Sandison said. “We seriously hope that all borrowers who believe they may have been victimized will contact our office as quickly as possible for a free no-obligation consultation.”

US Loan Auditors is not a loan modification company, but instead, specialize in the science and art of forensic loan auditing to help victims of predatory lending.

US Loan Auditors offers a free preliminary consultation for homeowners that believe they may have been taken advantage of during their home mortgage process. Research indicates up to 90 percent of homeowners with one or more of the following loan programs: adjustable loans; pick-a- payment; or are a non English speaking or limited English speaking, or stated loan transactions, may have been victims of predatory lending.

Upon completion of the audit and verification of the abuse, US Loan Auditors (www.usloanauditors.com) forwards the borrower’s case to US Legal Advisors (www.uslegaladvisors.com), a sister Company.

US Legal Advisors is a legal services firm that acts as a liaison and case management to support the private Attorney, who will represent the borrower throughout the legal process and negotiations.

For more information about US Loan Auditors, or to get a free initial consultation for your mortgage loan, please call 888-55-AUDIT or visit them online at: www.usloanauditors.com.

Here you can see Karen Johnson’s testimonial.

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Shouldn’t Foreclosure Always Be The Homeowner’s Last Resort?

Many families are in financial trouble because of a declining economy and an unstable real estate market. Numerous families are finding it increasingly difficult to pay for their mortgages and are in jeopardy of losing their homes to foreclosure*. Unfortunately, homeowners are not aware of the options that are available to them, or whom they can turn to for help.

First and foremost, a homeowner who is about to be or already is in financial distress should contact their current lender(s) to find out if there are options available for their particular situation. In some cases, a loan modification can be arranged directly with the lender, at no cost.

Regrettably, a significant number of home loans were poorly written; therefore, loan modification is not an option for a large portion of borrowers in distress. Homeowners may seek counseling; counseling is offered free of charge, by calling the U.S. Department of Housing and Urban Development, HUD, toll free at: (800) 569-4287.

Homeowners should stay away from and beware of paying any fees to ANYONE, including so called, “counseling agencies”, as they are not regulated and offer little to no help. Most states have also set up toll free numbers to counsel their residents, so check with with your State of residency.

More and more homeowners, who have been unsuccessful in getting any assistance from their lenders and/or government agencies, are turning to a CERTIFIED DISTRESSED PROPERTY EXPERT© (CDPE©), a Licensed REALTOR® who specializes in helping distressed homeowners who are “upside down” on their equity, late on their mortgage payments or who are already in the foreclosure process. A CERTIFIED DISTRESSED PROPERTY EXPERT© will see the homeowner through their distressed situation by successfully negotiating a short sale with their lender(s).

Lenders are now more willing to accept a short sale offer for a property’s true value, even if it is less than the amount owed. However, lenders are receiving thousands of short sale offers per month (most of the offers are incomplete packages that get tossed away or to the side) so a complete and well-prepared short sale offer package, sent by a CERTIFIED DISTRESSED PROPERTY EXPERT©, has the highest chance to be expedited quickly through a lender’s full log.

The end result of a short sale is minor when compared to the consequences of a foreclosure. Foreclosures have a devastating effect on credit history, job security, employment opportunities, security clearances, military and law enforcement careers, and the ability to purchase a home in the future; these are just a few examples of the damaging consequences of a foreclosure. Additionally, a foreclosure becomes public record, which is searchable by anyone, and can NEVER be removed.

We have all been bombarded lately with new creative ads, mailers, door hangers, TV and radio commercials promoting “foreclosure delay experts”. These ads are an example of how advertising is being misused to confuse vulnerable homeowners. Some ads claim to provide a service whereby they guarantee a homeowner will stay in their home for one year. Another example of how deceitful information targets already distressed homeowners. The average time for a foreclosure proceeding in Florida is in excess of 200 days, free of charge; so these less-than-forthcoming advertisers are charging money, when people need it the most, for a service that homeowners, in essence, already have.

Please do not pay, or let anyone you know pay money to anybody claiming they can stop foreclosures, including attorneys. Attorneys cannot stop foreclosures! The new “fighting foreclosures” and “foreclosure defense” ads attorneys are now broadcasting are an additional example of how the manipulation of information is being used to confuse and mislead the targeted distressed homeowner. Attorneys will “fight” a foreclosure until the homeowner is out of money. The only “defense” to a foreclosure is payment. The attorney, however, for a considerable fee, can prolong the legal process of a foreclosure until the homeowner is completely broke or all legal extensions have been exhausted. Nevertheless, in the end, the homeowner will still lose their home to a foreclosure and and face all the disastrous consequences that a foreclosure brings.

If a homeowner has the available money to pay for these deceitful services, he/she should use that money to make their mortgage payments.

If the borrower can pay the total amount owed to the lender, even up to the sale date, the lender will stop foreclosure. No one but the lender can stop the foreclosure process, and they will do so when either the homeowner pays the mortgage, bringing the loan payments up to date, or there is a successful negotiation of a short sale. These are the ONLY two ways for a foreclosure process to end. The homeowner will then be able to move on with his/her life, and in many cases, be eligible to own a new home in two years.

If you (or anyone you know) are about to miss a mortgage payment, have already defaulted on a home loan, or have been served foreclosure papers, a CERTIFIED DISTRESSED PROPERTY EXPERT© is able to help. The sooner you seek help the better but help is available even up to the last phase of a foreclosure, so please do not refrain from seeking help, because you might think it is “too late”. A CDPE© will not charge the homeowner. The CDPE© gets paid by the lender, at the end of the foreclosure proceedings, due to the successful sale of the home.

I cannot emphasize enough that no money should ever leave a distressed homeowner’s hands, ever.

This information barely scratches the surface. Mortgage delinquency and foreclosures are complex issues. Each and every case has its own unique set of facts and challenges. In most cases, homeowners are experiencing this overwhelming stress alone, without help of any kind, from anyone. It does not have to be that way. Families all around the country are in desperate need of proper guidance.

Not only do homeowners feel uncomfortable seeking the help of strangers, but a good amount of distressed homeowners might not feel comfortable asking delicate, private financial questions to people they do know. As a result, they do not ask anyone, falling deeper in trouble and are more vulnerable to scams. The Short Sales Message Board is a venue that was created specifically for distressed homeowners to ask Experienced Real Estate professionals questions, while maintaining total privacy.

A foreclosure is a devastating financial and emotional process for any family to endure and recover from and it should hardly ever happen. Foreclosure IS the last resort.

* In Florida, a Judicial State, a foreclosure happens when a lender files a lawsuit in State court against a borrower.

More Information can be found at the following web addresses:

http://www.PattyDasilva.com
http://www.hopeforhomeownersact.com/

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As The Foreclosure Crisis Worsens, The Parsa Law Group And Its Marketing Arm, The National Loan Modification Center, Have Been Contacted By Thousands Of Homeowners Which They Have Helped Stay In Their Homes

As the foreclosure crisis worsens, The Parsa Law Group and its marketing arm, the National Loan Modification Center, have been contacted by thousands of homeowners which they have helped stay in their homes.

The Parsa Law Group provides professional legal representation for those wishing to renegotiate an existing mortgage with their lender. The ultimate goal of the service is to avoid foreclosure and keep people in their home. With the number of phone calls increasing each month, the Parsa Law Group and the National Loan Modification center recently added 10,000 square feet of extra space and nearly 50 new employees last month alone.

“It’s been a quite challenge to keep up with the explosive growth of this area of our business,” says Mike Ponzillo, Director of Operations at the Parsa Law Group / National Loan Modification Center “we are literally hiring people every week because the calls keep coming in and every single case we negotiate with a lender requires a huge commitment of staff hours and resources on our end.”

This is indeed great news for homeowners who are in dire need of help from agencies like the Parsa Law Group. What sets this company apart is that they are a group of actual lawyers who provided legal representation for their clients when renegotiating a mortgage with their lenders. Studies show that homeowners who attempt to deal with a lender without any representation fail 80% of the time.

“For me this is a mission to help as many homeowners as possible stay in their homes. It’s such a shame when we see so many people that were taken advantage of with loans that were not explained to them fully or when you have someone that is about to lose their house and entire life’s savings because someone lied to them outright, or because they lost their job, or are simply going through rough financial times like so many other Americans. With the banks out to save themselves with billions in bonuses, and refusing to free up credit markets with the bailout money, a line has clearly been drawn, and we have chosen to be on the side of struggling homeowners.” said James Parsa, Lead Attorney at the Parsa Law Group / National Loan Modification Center.

While assistance from the government seems less and less likely, it is certain that more and more homeowners will reach out for help and the Parsa Law Group has proven to be more than ready.

The Parsa Law Group together with its marketing arm, the National Loan Modification Center, is the Nation’s Leading Legal Loan Modification Provider, with thousands of homes saved. With an on-site team of attorneys and professionals that fight to save homes from foreclosure, reduce mortgage payments, and hold lenders accountable for unfair or fraudulent loans, the Parsa Law Group is the staunch legal ally that struggling homeowners need in these difficult times.

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As Bank Back Away From Credit Market, Note Brokers Step In

DandGFundingCo.com buys mortgages and other notes, giving individuals and businesses a cash lump sum just when it’s needed.

As banks have backed away from the credit market, private finance experts are stepping in. They often come to the rescue of cash-strapped businesses and individuals, buying mortgages and other notes with cash lump sums.

“Our business is often referred to as the Cash Flow Industry, because we can bring much needed infusions of cash to businesses who suddenly find their credit sources are drying up,” said Sophia Rowe of http://www.DandGFundingCo.com.

In recent months businesses of all sizes have faced closing as their traditional sources of operating cash have dried up. Banks and other financial institutions are no longer willing to extend the short-term loans needed for expansion, research and development, and weathering off-seasons.

Likewise, many individuals have seen their savings depleted by the rapid downturn of the markets. Thousands are looking to Note Brokers to bring them the cash they need for retirement.

“The brokering of notes is also playing a crucial role in today’s slumping housing market. Sellers often have to self-finance the mortgage for their buyer. We step in and buy the mortgage from the seller for a nice cash lump sum,” Rowe said.

Rowe’s company purchases a wide variety of notes including mortgage notes, owner-financed mortgages, commercial notes, structured settlements, lottery payments, annuities, and court settlements.

“Instead of getting their money over a long period of time in small payments, we buy the note and give them one big cash payment. Instead of waiting years to get all your money, you get it right now,” Rowe said.

DandGFundingCo.com clients use their new cash flow to finance a business, pay for a college education, or to finance retirement. “These days when so many people’s income and investment sources are under attack, the cash flow industry is making it possible for our clients to continue a profitable and comfortable standard of living,” Rowe said.

See the full line of financial services and request a personal consultation at http://www.DandGFundingCo.com.

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Financial Solutions Company Think Money Have Advised Existing Homeowners That Now Is A Good Time To Remortgage

Financial solutions company Think Money have said that remortgaging in the near future could help homeowners to reduce their outgoings and avoid falling into mortgage arrears – an increasing problem for British households – and added that mortgage rates could become even lower if the Bank of England lower the base rate further, as predicted.

Financial solutions company Think Money have advised existing homeowners that now is a good time to remortgage, following the recent Bank of England base rate cut to 2% that has prompted some mortgage lenders to act more competitively with regard to mortgage rates.

They added that there is a strong possibility that the base rate may be cut even further in the coming months – with economists predicting a base rate as low as 0% – meaning tracker mortgages may become a particularly attractive option to homeowners as interest rates fall further.

The Bank of England’s base rate cuts in October and November led to several lenders passing on the full cuts to their variable-rate mortgages. Combined with the September’s base rate cut of 0.5%, that represents savings of £255 per month (£3060 per year) on a typical £150,000 repayment mortgage.

Tracker mortgages, by default, benefited from the base rate cut – and should economists’ predictions of further base rate cuts be true, these homeowners should stand to benefit from even lower mortgage repayments.

A spokesperson for Think Money said: “Existing homeowners could potentially save a lot of money if they remortgage now – and they will be even more pleased to hear that interest rates may fall even further in the coming months.

“Two years ago, typical mortgage rates were around the 6% mark – now we are looking at closer to 4.5% or 5%. A 1.5% fall may not look like a lot on paper, but it represents substantial savings on monthly mortgage payments.

“However, it’s important to take into account the costs of remortgaging – the mortgage arrangement fee, for example – as well as the more limited availability of mortgages and the higher loan-to-value ratio required by a lot of lenders.”

The spokesperson added that while fixed-rate mortgages have seen no widespread interest rate cuts so far, further base rate cuts may encourage lenders to consider their rates.

“Since fixed-rate mortgages represent a long-term decision, lenders have been even more reluctant to commit to lower rates. Nobody can be certain that rates are going to continue to go down, especially when they are as low as they currently are. However, a base rate cut to 1% or 2% might convince more lenders to set more competitive fixed rates on their mortgages.”

Mortgage debt has become an increasing problem amongst homeowners in the midst of the economic crisis, with the Council of Mortgage Lenders estimating that around 45,000 homes will be repossessed in the UK this year, compared with 27,100 last year.

A debt expert for Think Money commented: “The rapid rise in costs of living over the past year has led to a lot of people trying to balance their financial commitments, and in some cases that leads to mortgage arrears.

“It’s especially an issue with people who were offered 100% and 125% mortgages, since their mortgage repayments are higher compared with homeowners who put down a deposit on similarly priced homes.

“The most important thing for homeowners to do if they find themselves falling behind on mortgage payments is to contact their mortgage lenders – it may be that they can come to an alternative agreement, or some kind of payment holiday, in order to allow them to get back on track.

“If the mortgage debt is more serious than that, it may be time to seek professional debt advice. There are a number of debt solutions, such as debt consolidation and debt management plans, that can reduce monthly outgoings – which could be crucial for homeowners who are struggling to meet their commitments.

“As with anything debt-related, if you are looking to do something about your mortgage arrears, it’s always wise to seek professional debt advice beforehand.”

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Housing Rescue Plan, LLC offers several loss mitigation options for homeowners facing financial hardships such as unemployment, separation or divorce, medical bills, reduced income, job relocation or others

The loss mitigation options H.R.P., LLC will discuss with you include: loan modifications; VA loan modifications; short payoff (short sale); deed in lieu of foreclosure, repayment plans, partial claims for FHA mortgages and special forbearance agreements. The H.R.P., LLC team will work in conjunction with you and your lender to come up with a plan of action that works for both sides. The best part is you may be able to work out an agreement with your lender that will allow you and your family to stay in your home. The H.R.P., LLC office is run and operated by Dr. Michael W. Cantrell, Sr. creator of the Federal Housing Recovery Plan. Dr. Cantrell has a 95% success rate negotiating with lenders.

Are you behind in your mortgage payments; by how many months? One, three, six or more? Have you been presented with a Forbearance Agreement that just doesn’t feel right? Or is your bank threatening foreclosure? There is help. Visit the closest H. R. P. office for your FREE consultation.

Foreclosure may not be the answer. You shouldn’t have to just give up the fight for your home that you worked so hard to purchase and hold on to. There is another option that your bank may not be forthcoming in talking to you about. It’s called Loss Mitigation. The Housing Rescue Plan, LLC specializes in loss mitigation services.

Housing Rescue Plan, LLC offers several loss mitigation options for homeowners facing financial hardships such as unemployment, separation or divorce, medical bills, reduced income, job relocation or others. The loss mitigation options H.R.P., LLC will discuss with you include: loan modifications; VA loan modifications; short payoff (short sale); deed in lieu of foreclosure, repayment plans, partial claims for FHA mortgages and special forbearance agreements. The H.R.P., LLC team will work in conjunction with you and your lender to come up with a plan of action that works for both sides. The best part is you may be able to work out an agreement with your lender that will allow you and your family to stay in your home. The H.R.P., LLC office is run and operated by Dr. Michael W. Cantrell, Sr. creator of the Federal Housing Recovery Plan. Dr. Cantrell has a 95% success rate negotiating with lenders.

Dr. Cantrell has over 19 years of mortgage experience in various roles. He, together with his team of trained counselors are available now to talk to you about your current housing situation. Your initial consultation is free. Visit www.housingrescueplan.com for more information and an online application to get started today. Housing Rescue Plan, LLC is working with homeowners, keeping the American dream alive. We currently help people in trouble in all 50 states.

Dr. Michael W. Cantrell, Sr. can be reached on
michael@housingrescueplan.com
(888) 880-9997 ext. 5921

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250,000 new families will enter foreclosure every three months according to the Mortgage Bankers Association

Over 60% of those families don’t know about services and options that mortgage lenders offer to help avoid foreclosure.

Most homeowners try and get refinancing for their home loan if they fear foreclosure. Others try to negotiate a “short sale” or just accept the foreclosure and walk away. Many homeowners have never heard of loan modification, a legal process that a homeowner can use to renegotiate loan terms with the current lender to reflect current financial circumstances.

“The people I’ve worked with in the past either don’t know what loan modification is, or they believe loan modification requires a high-priced specialist,” said Troy Fullwood, creator of the Loan Modification Toolbox. “Most homeowners could do it themselves if they just get access to the information,” he added.

Most or all of the fees associated with loan modification can be rolled up into the new balance according to HUD guidelines. Because loan modification doesn’t usually require upfront fees, it’s a viable option for cash strapped families.

Considering that a home is the largest investment most people will ever make, the opportunity to save that investment offers a lifeline to many affected by recent market trends.

The Loan Modification Toolbox was created by Troy Fullwood to offer a loan modification roadmap and information at a fraction of a specialist’s cost. The Loan Modification Toolbox, offers step by step plans, necessary forms and lender negotiation requirements to homeowners trying to stop foreclosure.

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Kenn Renner Top Austin Realtor begins a series of real estate finance and foreclosure seminars in Austin Texas

On Saturday, October 25th national speaker and Austin real estate expert, Kenn Renner, will be presenting a free real estate finance and foreclosure seminar at the Brockton location of Amplify Credit Union (formerly IBM Credit Union). The seminar is part of Amplify University’s on-going educational series. The two part seminar will focus on the current status of the mortgage market and investing in foreclosures.

Kenn will discuss how the “credit crisis” has affected lending policies, interest rates and the availability of funds. He will separate fact from fiction and dispel many of the falsities that the national media has purported. The truth is that banks “are” lending and those that want to buy in today’s buyers market can get the financing they need – especially first time home buyers. Austin’s strong economy will be discussed and how it has been relatively sheltered from the housing crisis that has hammered other parts of the Nation. Part II of the seminar will focus on foreclosures, short sales, REO’s and HUD Repos. Strategies for capitalizing on some of the best real estate bargains in recent history will be covered in detail. Case studies and actual foreclosed properties that are available right now will be discussed. The seminar is free and Kenn will be giving away copies of Gary Keller’s (Keller William’s CEO) best selling books from his “millionaire” series. For first time home buyers Kenn will be providing free copies of “Your First Home – A Proven Guide to Home Ownership” ($20 Value). Previous seminars and presentations can be found at Kenn’s video site austinhomevideos.com and at Kenn Renner’s Youtube video channel.

Seminar information:

Where: Amplify Credit Union
2608 Brockton Drive
Austin, TX 78758
(Brockton @ Burnet)

When: Saturday, October 25th, 1 P.M.
Cost: Free

To register for the free seminar – visit http://www.buyaustin.com

About Kenn Renner:
Kenn Renner is a top selling Austin realtor and national speaker on the subject of real estate and real estate investing. He is a frequent guest expert on local and national investment radio shows. His twenty five year career has spanned three states including Alaska, California and Texas. In the past three years, Kenn has closed over $80,000,000 in home sales. He has been featured on several episodes of HGTV’s #1 rated show “House Hunters”. Kenn lives with his wife and two children near scenic Lake Travis just outside of Austin.

 

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ThinkMoney welcomes the Government’s new housing rescue package, but have commented that it is not a complete solution to the trouble the housing market faces

Following the announcement of a new Government housing rescue package, financial solutions company Think Money commented that while it is a welcome help to many homeowners, it is by no means a complete solution to the trouble the housing market faces.

The new measures, according to the Government’s News Distribution Service, include:

• Offering 10,000 first time buyers currently frozen out of the mortgage market the chance to get onto the property ladder through a new £300m shared equity scheme;

• Supporting up to 6,000 of the most vulnerable homeowners facing repossession to remain in their home through a £200m mortgage rescue scheme;

• A £400 million boost in spending power for social housing providers, including registered social landlords and councils, to deliver 5,500 more social houses over the next 18 months by bringing funding forward;

• Working with Regional Development Agencies to support the most critical regeneration schemes with the most potential to transform their communities.

Melanie Taylor, Head of Corporate Relations at Think Money, commented: “The housing rescue package is targeted at first-time homebuyers and those who are facing the possibility of repossession – the groups who need it most of all.

“The shared equity scheme should help to kick-start the housing market for first-time buyers, who may have been previously unable to obtain a mortgages, and this may push up house prices as demand rises. However, there is still the possibility that many would-be homebuyers might still want to wait until house prices begin to recover.”

“It also needs to be considered whether the scheme to help households facing repossession will truly put them back on track, or if it is just delaying the inevitable for people who are struggling with repayments.”

Taylor continued that while the housing rescue package has its obvious benefits, a large part of the housing crisis remains unaddressed.

“There is still something of a middle ground, in which existing homeowners – many of whom are still greatly affected by the housing market slump – find that their situation has not changed much at all. Many will still find it hard to sell their homes, meaning prices may continue to fall, and mortgage rates could still rise.

“On the whole, the package fails to address the underlying causes of the housing slump – in particular, low supply of mortgages and tight lending criteria. While this remains the case, a large proportion of homeowners will continue to suffer. It’s also a relatively short-term measure – once the scheme finishes, we may well find many households in similarly difficult situations, unless the mortgage market itself improves.”

ThinkMoney are a financial solutions company based in Salford Quays, Manchester. They specialise in a wide range of debt advice and solutions, including debt management plans, debt consolidation and IVAs (Individual Voluntary Arrangements).

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As the credit crunch hits the UK housing market, thinkproperty reveals bad first impressions mean home owners are losing out on all important property sales

thinkproperty, consumer property portal, has announced that as the credit crunch hits the housing market, thousands of homeowners are turning potential buyers off their property, resulting in a failure to sell.

According to the latest evidence from thinkproperty, home owners are losing out on quicker, easier property sales due to basic mistakes resulting in bad first impressions and a failure to sell at the required asking price.

Mark Goddard, MD of thinkproperty.com, commented: “Most house buyers reach a conclusion about a property within the first 10 minutes after arriving at a viewing, so first impressions truly can affect whether a home sells or not. It is surprising that so many sellers make silly mistakes when trying to sell a property. The smallest flaws and imperfections can lead to an assumption by the buyer, that bigger, more important things have also been neglected, making it so much harder for the home owner to receive an offer.”

The top 10 most common mistakes that home owners make when trying to sell their property are:

1 – Hiding potential
2 – Not making an effort
3 – Not defining spaces.
4 – Out-dated décor
5 – Showing a dirty space
6 – Forgetting the first impression is outside
7 – Making viewings difficult
8 – Being sentimental
9 – Allowing smells to linger
10 – Unfinished DIY

He continued, “We are working towards reminding home sellers that a small amount of time and effort really can make the world of difference. Selling a property by behaving less like an owner and more like a professional property marketer can improve your chances and affect the asking price.”

thinkproperty.com holds over 600,000 properties from the UK and overseas, including 40,000 rental properties, and is currently working with over 6,000 agents who are uploading their stock to the site and benefit from an increasing number of leads originating from the property portal.

thinkproperty.com places Web 2.0 methodology at the heart of its functionality, with market-leading functionality including Google mapping; property ranking; RSS; sold house prices; and Video Tours being core features.

thinkproperty.com is wholly owned by GMG Property Services, a division within Guardian Media Group.

GMG Property Services Group also owns Vebra, the UK’s leading provider of software to independent estate agents, Core, CFP, The Media Design House and thinkproperty.com, the consumer-facing portal.

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