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foreclosure: HAFA Short Sale-Why Your Lender Will Agree to a Short Pay - 05/21/12 04:48 PM
The HAFA short sale program is really picking up steam-especially now that the Treasury Department has expanded the program criteria.  Now rental properties and second homes may be eligible, and a borrower does not have to be delinquent to qualify for this government plan.  But why would your lender agree to accept less than is owed on your mortgage so that you can get a fresh start?
It's really all about the bottom line-banks are in business to make money, but losses are inevitable so they must mitigate the amount of money they stand to lose.  Over 90% of banks signed … (1 comments)

foreclosure: Why the Confused Mind Does Nothing and How Realtors Can Help - 01/16/12 05:46 PM
Have you ever heard the saying "The confused mind does nothing"?  I run into this almost daily with my distressed clients.  When faced with a stressful situation, if you don't know how to solve it, you will inevitably do nothing.  It's simply easier to ignore the problem and hope that it will resolve itself in some miraculous way than try to figure out the unknown.
When a homeowner is facing the prospect of losing their home, the fear and uncertainty can be unbearable.  It's really primal-what's going to happen?  When will it happen?  Where will we live?  Unfortunately there are many … (3 comments)

foreclosure: California Foreclosure Filings Soar in November-Reprieve Over for Homeowners? - 12/22/11 07:51 PM
A staggering 63% increase in California foreclosure filings for November 2011 from the previous month may have dire consequences for homeowners hoping to save their home.  Although most banks will suspend sales during the Christmas holiday, expect a surge of trustee sales the beginning of 2012.  Many borrowers have been lulled into a false sense of security because of the lender's slow pace or even lack of any action at all.  In some cases, borrowers are still living in their home after several years of not making any mortgage payments.  Well, looks like that party may be over.
Why now?  Why … (1 comments)

foreclosure: Latest News and Updates on Loan Modifications-December 2008 - 10/02/08 03:51 PM
Wow, what a crazy month for bankers, Wall Street and the United States economy.  Many distressed homeowners were left scratching their heads and wondering what affect all of this will have on them personally.  Millions of homeowners facing rising home loan payments and the very real possibility of losing their homes are seeking relief NOW to get out of their toxic home loans and find a long term solution.  Well, all these financial storm clouds may have a silver lining-failing banks are more motivated to offer loan modification help to their troubled and delinquent borrowers.
If you are considering a loan modification … (0 comments)

foreclosure: Free Loan Modification-Do it yourself or hire a company? - 09/13/08 10:50 PM
You're behind on your house payments and going down for the count, you need help-fast!  If you want to try to stay in your home, a do it yourself loan modification may be a solution.  Maybe you don't have thousands of dollars to pay someone to represent you, but how do you get a free loan modification? If you are like most homeowners, you know next to nothing about how to modify your loan or how to work with your lender effectively. Before you make a decision affecting your home and family, take some time to research, learn and then decide what will … (0 comments)

foreclosure: Loan Modification Programs - 09/10/08 09:21 PM
Did you know that almost all lenders offer some type of loan modification program?  In fact, your  bank will present one of several loan modification programs to you when you contact the Loss Mitigation Department.  These departments are staffed with employees who are specifically hired and trained to deal with distressed homeowners seeking help with some type of loan modification programs.  Their job is to save the bank money, and your job is to save yourself from foreclosure!
So, how do you know if the loan modification program you bank offers you is the best option for you?  First, you need to … (0 comments)

 
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Susan V. Gregory

Dana Point, CA

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Newman Realty

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