Archive for the 'Stop Foreclosure Help' Category

Updated Changes In The Obama Plan Will Likely Make Little Difference

One of the many downfalls for the home owner when trying to stop foreclosure with the Obama plan is a second mortgage. The plan did not entice holders of these home equity loans and 80/20 second liens (where a second loan was granted with the first to allow a 100 percent loan without mortgage insurance) […]

Government Encourages Loan Modifications

Thousands of Americans are behind on mortgage payments or facing foreclosure, and the government is helping pass legislature that will encourage banks to modify loans to give struggling homeowners time to catch up.  The banking system is currently broken as is posted in the news all day long.  Credit has all but dried up completely, and with no […]

Many People Really Don’t Understand What A Short Sale Is

A short sale is a greatly misunderstood transactions in real estate and foreclosure. I ask people all the time if they know what a short sale is. Many times, they say yes and when I ask them to describe a short sale to me, their understanding is often quite different from reality.
While lenders don’t necessarily […]

Understanding Short Sale Process

Banks and loss mitigation departments are flooded with offers on short sales so you should expect that this will take a while. Never before have there been so many defaults in the United States, and I don’t think even the banks have any type of precedent to refer to in hopes of handling these short […]

What You’ll Have Taken Away From You by the Stimulus Package

CNNMoney.com is running a piece on how consumers may benefit from President Obama’s new foreclosure and housing relief bill and his recently-passed economic stimulus package. Unfortunately, as we all know from common sense and a basic understanding of economic principles, what the government gives to one person it has to take from another.
Thus, more people […]

Why To Sell Your Home In Pre-Foreclosure

If you are facing foreclosure and see that you are not going to be making your mortgage payment on time or have already missed one payment, then you are in the pre-foreclosure stages.  Meaning the bank hasn’t foreclosed on you yet, but it could possibly happen in the near future.  This is a time you […]

OWNING VS. RENTING

There are many good aspects of homeownership. First and foremost is concept of generating equity. When you are renting, your cash is not going towards anything, it is basically going out the window. When you make payments on a home, you are paying for an asset that has a market value. When you sell your […]

Property Taxes - Tax Liens

Tax bills are typically the largest annual cost to a property owner aside from mortgage obligations.  Unlike personal debts, tax liens on real estate “run with the land” meaning the current owner is responsible for payment even if the “debt” was from a previous owner. 
There are several methods of payment for any existing or outstanding tax liens/judgments on a property.  […]

Identifying Foreclosure/REO’s as Investor

Although foreclosure and mortgage default is an unfortunate occurrence for a homeowner, it does provide an opportunity to identify bargain prices for prime real estate.  The best investors are capable of finding potential deals before they go through the foreclosure process, but are also prepared to act during or after borrower default.  There are numerous […]

What happens When You Default On Your Mortgage?

This may be a time where you a hurting for money.  You are living paycheck to paycheck, barely paying the bills at the end of the month.  Thoughts might be going though your head, like ‘what happens if I miss a mortgage payment, will I lose my house to foreclosure?’  This is a great question […]

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