HAPPY NEW YEAR 2012 - 12/31/11 12:09 PM
HAPPY NEW YEAR 2012
May your world Be filled with Warmth Joy and Good Cheer Wishing you a wonderful Happy New Year! GARY & SHELDA HODGES
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Mortgage Principal Write-downs ? Yah or Nah - 12/31/11 11:45 AM
Mortgage Principal Write-Downs? Yah or Nah
Principal reduction and/or Principal write-downs is a trending topic. lawmakers in the House of Representatives are asking that Fannie Mae and Freddie Mac reduce the mortgage principal of borrowers who owe more on their home than it is currently worth.
To Homeowners demise, the Federal Housing Finance Agency, which regulates Fannie and Freddie, has been refusing to take such a drastic move, citing concerns that writing down principal balances may create a “moral hazard” and prompt other borrowers to stop making loan payments on time. “Really” I would think this would help our economy … (1 comments)
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Which Option is the Right One? - 12/30/11 06:41 PM
So Which Option is the Right One?
Contrary to what you may have heard, lenders actually want to avoid a foreclosure wherever possible. That’s why they’re accepting more short sale and deed-in-lieu transactions everyday in an effort to eliminate unnecessary foreclosures. So Which Option is the Right One?
As a service to my community, I’ve set up this site with accurate information on foreclosure alternatives:
http://www.sheldahodges.com/ under resource tab "Short Sale & Deed-in-Lieu"
While on the site, you can download a free report—prepared just for you—on these two dignified solutions to foreclosure. This easy-to-understand report provides clear facts about the options … (0 comments)
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Short Sale & Deed-In-Lieu - 12/30/11 06:10 PM
Short Sale & Deed-In-Lieu
I hope you and yours are enjoying every minute of this holiday season! As we come to the close of the year, I’m finding many of my friends and colleagues worried about their finances and hoping to start a brand new year without financial worry. To do my part, I wanted to reach out to see if you or someone you know might be able to use my help.
I became a Certified Distressed Property Expert to help my community find answers in their times of need. I want to ensure my friends and neighbors always … (3 comments)
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Delaying foreclosure: Brave Borrowers finding ways to keep homes without paying. - 12/29/11 10:48 AM
Delaying foreclosure: Brave Borrowers finding ways to keep homes without paying.
Lenders sometimes practise what is called “Extend & Pretend. Extending the process by which homes enter foreclosure allows banks to continue carrying the loans on their books at full value, delaying loss recognition. That allows unhealthy banks to appear healthy, staving off costly bank failures.
Well Borrowers has also find ways to extend the stay in their homes except at the Banks expense. Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight. Some … (0 comments)
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Foreclosure Alternatives: Which option works best for you? - 12/28/11 11:29 PM
Foreclosure Alternatives: Which option works best for you?
No foreclosure alternative is guaranteed. However, as long as homeowners are proactive, their chances of preventing foreclosure and taking control of their financial future significantly increases.
Foreclosure alternatives only prevent foreclosure when they are initiated early in the process, when the bank decides to remove any foreclosure sale date, or when the alternative is approved and completed. Determining early will make the world of difference for the distressed mortgage homeowner. Be Hero Agents for 2011 and beyond.
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Job Loss Could Put One in Three Out of Their Home - 12/27/11 11:45 PM
Job Loss Could Put One in Three Out of Their Home
This comes as no surprise. The average American has no savings for a rainy day which include Mortgage &/or Rent payments. One months and"Sink". It appears consumers live paycheck to paycheck, & my colleagues commission check to commission check. Its difficult for our more affluent Homeowners as well.
One in three Americans would be unable to make their mortgage or rent payment beyond one month if they lost their job, according to the results of a national survey taken in mid-September.
Job loss has become the primary driver of … (9 comments)
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Mortgage Scam - How to Recognize - 12/24/11 06:26 PM
Mortgage Scam - How to Recognize
You might be a victim of a scam if:
You are told you will get a federal incentive to walk away from your mortgage You are asked to pay upfront for counseling You are pressured to sign papers immediately You are asked to sign your house over to a company or person who is not working with your mortgage company You are asked to make a mortgage payment to someone other than your mortgage company without their approval You are guaranteed a successful short sale or mortgage modification They claim to … (0 comments)
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Happy Holidays - 12/24/11 05:32 PM
Happy Holidays
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Understanding and Setting Your Expectations for Short Sale - 12/23/11 01:03 PM
Understanding and Setting Your Expectations for Short Sale
Q: Will a Short Sale Stop a pending Foreclosure?
§ A: In some cases yes…each scenario is unique…best to consult an experienced agent to get the answer.
Q: How will my credit be affected by a short sale?
§ A: Our experience is a hit of between 50 to 150 points. Just as your credit score is unique to you…the impact will be just as unique.
Q: How long does a short sale take?
§ A: A “short sale” is to the … (0 comments)
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Justice Department Reaches Settlement for Discriminatory Lending - 12/22/11 08:14 PM
Justice Department Reaches Settlement for Discriminatory Lending
Fair Housing Act Title VIII of the Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability).
It’s tempting to show new customers around neighborhoods you’ve selected because they would seem to fit them perfectly. But you … (0 comments)
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For Every Two Homes for Sale, There's One in the Shadows - 12/22/11 01:44 PM
For Every Two Homes for Sale, There's One in the Shadows
The number of distressed properties not currently listed for sale on multiple listing services (MLSs) stood at 1.6 million as of October 2011, according to Corelogic. Yesterday's chart showed the shadow inventory broken down by state with NY & NJ carrying 50+ months of shadow inventory http://actvra.in/q4C
A healthy housing market should have less than one-month’s supply of shadow inventory, which would be an easily absorbed batch of distressed assets with little or no discernable impact on house prices, unless the inventory was geographically concentrated.
According to CoreLogic reports … (1 comments)
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Shadow Inventory November 2011 - 12/21/11 11:50 PM
Months Shadow Inventory
Shadow Inventory always a hot topic . Previous reports showed the inventory of “not on the market” homes that need to be sold is growing at a disheartening pace.
What hurts so much about the growing inventory of homes that have yet to reach the market is the known fact that we have such a large volume of homes that failed to sell in the past and are currently not back on the market. That means that no matter what you read about the Shadow inventory of homes, the reality is actually going to be worse than the … (0 comments)
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Unlock a World of Real Estate Wealth - 12/21/11 11:12 PM
Unlock a World of Real Estate Wealth
With interest rates at historic lows, and incredible bargains available in our local market, more and more of my clients are investing their money in real estate. Watch this short video and find out how almost anyone can get started today with very little down!
Then contact me at 561-308-4663 or Shelda@Sheldahodges.com for a FREE consultation and to get a list of investment properties currently available in your area.
Shelda Hodges ASREOS RCA CIAS CDPE CFS CSP HRC ASD LDPD HAFA
Click on link Below!
<iframe width="560" height="315" src="http://www.youtube.com/embed/JeZJ1e-H4_w" frameborder="0" allowfullscreen></iframe>
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What is a Short Sale? - 12/21/11 11:04 PM
What is a Short Sale?
Have you fallen behind on your mortgage payments, and don’t know what to do? Watch this brief video, and find out what a Short Sale is, and why it may be the solution you have been searching for.
Then contact me at 561-308-4663 or Shelda@Sheldahodges.com for a FREE consultation to find out if a Short Sale is right for you
Click on the Link Below!
<iframe width="560" height="315" src="http://www.youtube.com/embed/49sS88Cbsc8" frameborder="0" allowfullscreen></iframe>
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Florida Supreme Court Terminates State Mediation Program - 12/21/11 09:19 AM
Florida Supreme Court Terminates State Mediation Program
Mediation, Arbitration designate processes for bringing about agreement or reconciliation between opponents in a dispute. Mediation implies deliberation that results in solutions that may or may not be accepted by the contending parties. Arbitration involves a more formal deliberation, it being understood that the results will be binding on the contending parties
Florida’s mandatory foreclosure mediation program has come to an end. State Supreme Court Chief Justice Charles Canady issued an order this week stating that no new cases may be referred to mediators as part of the court-run initiative and citing … (0 comments)
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Fannie Mae & Freddie Mac Announce an “Eviction Moratorium” for the Holidays - 12/21/11 12:15 AM
Fannie Mae & Freddie Mac Announce an “Eviction Moratorium” for the Holidays
The holiday season should be a magical time of year. However, for a growing number of families, the usual holiday celebrations are trumped by financial troubles, foreclosure and the looming threat of eviction.
Fannie Mae and Freddie Mac offered some relief to such families by announcing an “Eviction Moratorium” through January 2, 2012. Dec. 19-Jan 2,2012. (Very small window compared to previous year. During this time, families living in foreclosed homes will not be forced to leave, though legal proceedings may continue as scheduled.
Undoubtedly, Fannie and Freddie’s efforts … (5 comments)
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Common Predator Tatics - 12/20/11 10:36 PM
Common Predator Tatics
If a deal to buy, repair or refinance a house sounds too good to be true, it usually is!
A lender or investor tells you that they are your only chance of getting a loan or owning a home. You should be able to take your time to shop around and compare prices and houses. The house you are buying costs a lot more than other homes in the neighborhood, but isn't any bigger or better. You are asked to sign a sales contract or loan documents that are blank or that contain information … (0 comments)
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Anyone can be a Victim of Predatory Lending - 12/20/11 10:22 PM
Anyone can be a Victim of Predatory Lending
It’s not always easy to determine if you’ve been the victim of an illegal or irresponsible lending transaction.
When shopping for a mortgage loan, homebuyers need to be aware of predatory or abusive lending practices. These unscrupulous activities can increase the cost of homeownership, rob the borrower of equity in the home, and ruin credit.
Buying or refinancing your home may be one of the most important and complex financial decisions you'll ever make. Many lenders, appraisers, and real estate professionals stand ready to help you get a nice home and a great … (0 comments)
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Ten Tips to Remember with BOFA Short Sales - 12/20/11 05:36 PM
Ten Tips to Remember
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BofA Gets Up Close and Personal with Distressed Homeowners - 12/20/11 09:30 AM
BofA Gets Up Close and Personal with Distressed Homeowners
BofA Gets Up Close and Personal with Distressed Homeowners According to DSNEWS BofA has organized 45 outreach events to get infront of Distress Homeowners in local markets across the country where the lender is seeing high levels of mortgage delinquencies among its customer base.
The out-of-pocket expense to put on each event, which typically lasts three days, can run pretty high – from renting out a facility, to promotional and marketing materials, to full-service staffing. Nevertheless, Sturzenegger says, “We’re going to keep doing it as long as we need to.”
Those … (2 comments)
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What are your alternatives to foreclosure? - 12/19/11 10:22 PM
What are your alternatives to foreclosure?
With all the information out there concerning the alternatives to foreclosure, finding the right solution for your needs can often be confusing and discouraging. Regrettably, more than 7 out of 10 homeowners facing foreclosure will proceed without ANY assistance. With my specialized CDPE training in foreclosure avoidance, I fully understand and can successfully carry out all the alternatives available to you.
I am here to help!
Together, we can lay out the options so that you can choose the best solution. Until then, I have provided a report briefly explaining all the options … (0 comments)
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Take action now to turn it around in 2012 -Fresh Start - 12/19/11 09:41 PM
Take action now to turn it around in 2012
Recent economic upheaval has taken a hefty toll. Looking forward to 2012, it’s impossible to know what’s next and the kind of an impact that an upturn or a downturn at the national level stands to have on your family’s finances.
Regardless of what happens in Washington or on Wall Street, two things are very clear: you are not alone and now is the time to prepare for a new normal.
With a national epidemic of unemployment or underemployment, and 25 percent of the homeowners in the country owing more … (3 comments)
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Feeling Financially Squeezed - 12/19/11 08:03 PM
Feeling Financially Squeezed
Did you know nine trillion dollars of home equity has been erased over the last four years? Or that the total number of foreclosures has jumped at least 40% per year since 2006? Economists expect another record number of foreclosures in 2011!
The good news is that I can help. As a CDPE, I have received extensive training to help homeowners who are struggling with their mortgage payments by showing them alternatives to foreclosure. With your help, I can restore hope for those who need it most.
For … (0 comments)
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Short Sale vs. Foreclosure? You make the call! - 12/18/11 01:15 PM
Short Sale vs. Foreclosure?
You make the call!
I get the question from people all the time: short sale or foreclosure, which is the better option? My knee-jerk reaction is always “Are you kidding? Short sale, of course!” This has been mostly because I was always under the impression that a short sale, although still a ding on your credit, was gentler on the score than a foreclosure.
But according to a recent blog post by FICO Banking Analytics, there is no real difference in the affect a short sale or a foreclosure has on your credit score. Both the … (2 comments)
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The Very Latest -Iraq - 12/18/11 12:44 PM
The Very Latest -Iraq.
By Mary onDecember 18, 2011
President Obama sent a message this morning on the end of the war in Iraq:
Early this morning, the last of our troops left Iraq.
As we honor and reflect on the sacrifices that millions of men and women made for this war, I wanted to make sure you heard the news.
Bringing this war to a responsible end was a cause that sparked many Americans to get involved in the political process for the first time. Today's outcome is a reminder that we all have a stake in our country's future, … (0 comments)
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Loan Modification Scams - 12/18/11 01:16 AM
Loan Modification Scams
Know it. Avoid it. Report it. Unfortunately, and far too often, homeowners looking for mortgage help end up victimized by scam artists. Know the warning signs to protect yourself, your money, and your home Are you having trouble with your mortgage? Have you recently lost a job or had a reduction in income? Are you facing a possible foreclosure? Loan modification scammers are targeting you.
Each day, scam artists posing as financial advisors and/or debt relief consultants take advantage of vulnerable homeowners whose homes have been threatened by economic difficulty. These scammers will often make promises that … (3 comments)
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Home Affordable Refinance Program (HARP) Option - 12/18/11 12:09 AM
Home Affordable Refinance Program Option HARP IS A VIABLE OPTION EXCEPT MOST HOMEOWNER ARE NOT CURRENT ON THERE MORTGAGE PAYMENTS.
If you would like to refinance and take advantage of lower interest rates, but don’t think you can (or haven’t been able to) qualify, you may be eligible for the government’s Home Affordable Refinance Program (HARP).
What is HARP? HARP is designed specifically to help borrowers who may be ineligible for traditional refinancing due to loss of home value or because they have little (or no) equity. Like other refinancing options, with HARP you receive a completely new mortgage … (4 comments)
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Options for Military Service Members - 12/17/11 11:37 PM
Options for Military Service Members If you’re a service member struggling with your mortgage payment, you may qualify for a special military hardship. Additionally, military service members have protection against foreclosure for 9 months following termination of active duty. See below for details. You can also visit Army OneSource or Military OneSource.
Military Hardship may be an option if:
You've received Permanent Change of Station (PCS) orders You're in active duty service (or just left) You (or your spouse) have been injured in active duty
Military Service Options There are a variety of mortgage programs that may be available to … (0 comments)
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Short Sale vs. Foreclosure - 12/17/11 10:32 PM
Short Sale vs. Foreclosure MAKING THE RIGHT CHOICE FOR A STABLE FUTURE
There seems to be no end to the debate of whether a short sale or foreclosure is a better decision for homeowners who can no longer afford their mortgage payments. For many, the anxiety of dealing with this challenge is so overwhelming that they give up and let their home fall into foreclosure. This is unfortunate. Weighing the benefits of a short sale when compared to foreclosure may have led to a decision that would have secured a brighter future.
I want distressed homeowners to be able to make … (2 comments)
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Fear of Failure - 12/17/11 10:01 PM
Fear of Failure. The Only failure is the failure to participate. Set realistic goals. If you set very high or impossible goals as a perfectionist, you are likely to feel overwhelmed and expected failure.
Our goal can only be reached through a vehicle of a plan, in which we must vigorously act. There is no other route to success. ~Stephen A Brennan, Baseball Coach
Success is not measured by what you accomplish, but by the opposition you have encountered, and the courage with which you have maintained the struggle against overwhelming odds.~Orison Swett Marden-founder of success magazine.
Failure is … (2 comments)
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MISSING MORTGAGE PAYMENTS? It's Never Too Late! - 12/17/11 12:05 AM
MISSING MORTGAGE PAYMENTS? It's Never Too Late!
MISSING MORTGAGE PAYMENTS?
If you or someone you care about has missed mortgage payments, you're not alone. According to Lender Processing Services, over 6.32 million Americans missed a mortgage payment in April. Fortunately, there is a growing movement of specially trained real estate professionals that have earned the Certified Distressed Property Expert (CDPE) designation. As a CDPE, I can show homeowners their options, and provide them with information they need to know to avoid foreclosure.
I have prepared a report that shows homeowners what to expect if they've missed payments (or are about to). … (4 comments)
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At the End of Your Rope? Foreclosure Avoidance Guide - 12/16/11 10:29 PM
At the End of Your Rope? Foreclosure Avoidance Guide
Ten ways to Alleviate the stress of an unaffordable Mortgage
Homeowners 411. I wanted to inform Homeowners about some startling statistics regarding the latest distressed property trends.
In a recent study by Lender Processing Services (LPS), 6.38 million people were at least 30 days late on their mortgage payments. If you or someone you care about is feeling the stress of an unaffordable mortgage, please take the time to review the free foreclosure avoidance guide I've place on my website:
http://www.sheldahodges.com/ under resources "At the End of your Rope"
As a Certified … (0 comments)
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Foreclosure... It’s not the only option! - 12/16/11 02:45 PM
Foreclosure... It’s not the only option!
Explore the Alternatives to Foreclosure!
Not sure how you’re going to pay mortgage this month?
You’re not alone
With all the information out there concerning the alternatives to foreclosure, finding the right solution for your needs can often be confusing and discouraging. Regrettably, more than 7 out of 10 homeowners facing foreclosure will proceed without ANY assistance. With my specialized CDPE training in foreclosure avoidance, I fully understand and can successfully carry out all the alternatives available to you.
I am here to help!
Together, we can lay out the options … (3 comments)
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The 7 Most Dangerous Short Sale Myths - 12/16/11 02:00 PM
The-7-Most-Dangerous-Short-Sale-Myths . Get the Facts to get Back on Track. Homeowners struggling to pay the Mortgage each month feel like time and options are running out.There are solutions, but first you need the facts.
You may not know tha I'’m a Certified Distressed Property Expert. For the hundreds of homeowners in our community who owe more on their home than it's worth and don't know what to do, I have become a resource for solutions.
If you or someone you know is in this situation and confused about the alternatives to foreclosure - specifically short sales — I've created a … (4 comments)
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Avoid Foreclosure in West Palm Beach Florida - 12/13/11 11:51 AM
The combination of high unemployment and declining home values is wreaking havoc on homeownership. Selling a home or tapping into the equity is not an option for nearly one fourth of all homeowners who owe more on their home than it's worth in today's market,
Here's the most important thing that financially strapped homeowners need to know: foreclosure is not your only option.
In fact, foreclosure is not an option at all.
As a Certified Distressed Property Expert (CDPE) it is my mission to help homeowners to get out from under a burdensome mortgage, and in the process, change the … (0 comments)
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An unmanageable mortgage is an unbearable burden- Avoid Foreclosure - 12/13/11 09:48 AM
An unmanageable mortgage is an unbearable burden. A fresh financial start for 2012
As we enter into the holiday season, millions of families are fearing foreclosure and not knowing where to turn.
More than 25 percent of homeowners in this country owe more on their home than it's worth in today's market. Add to that an unacceptable rate of unemployment and underemployment, and you've got a housing crisis with no easy answers.
As a Certified Distressed Property Expert (CDPE) it is my mission to help homeowners to avoid foreclosure and to get their lives on a positive path. If you … (0 comments)
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