EVERYTHING LENDERS DON'T WANT YOU TO KNOW ABOUT FORECLOSURES ......and how to use it to your advantage.

Every day we read about the "foreclosure crises" and how the real estate market crash was responsible for it.  NOT TRUE.  The truth is that most  mortgages that are in foreclosure today, were made by lenders who knew  that the borrowers would be unable to pay unless they refinanced.  And they should have known that great markets don't last forever and people would not be able to refinance.

How does an adjustable rate starting at 2 percent and going to 10 in two years sound??  Think anyone  could afford that jump??

The terms were unconscionable; not just ethically, but legally.  As was predictable by every lender, when prices started dropping  and the credit scores of these consumers did not improve, refinancing was not possible and foreclosures resulted.

And now, we are all left holding the bag.

That is only the beginning. Almost every loan for the last 14 years was made with an improperly done appraisal.  Appraisals, under a law called FIRREA are supposed to be totally independant, but realtors, mortgage brokers and lenders made sure that appraisers were pressured into inflating appraisals.  That pressure violates any number of laws and regulations and can be used to the borrowers advantage.

 Many loan documents  did not properly compute the APR on the loan, which is another improper practice.

Loan terms were unexplained and were never properly explained or disclosed.  Actual fraud was not unheard of and consumers were the victims, although lenders claimed it was them.

But, there are ways that the lenders' conduct and its impact on the cost of foreclosures, can be used to negotiate afforable modifications, deeds in lieu of foreclosure and short sales.  That is our specialty and we do it very, very well.  In fact, to date, we have been succesful almost 90 percent of the time.

For more information on how you can find and use this information please contact us.  We specialize in short sales, but if another foreclosure alternative is in your best interest, we can assist with that as well or refer you to someone who can do it better.  I do hope that this information is helpful!

Jessica Sulliman & Randy Curnutt

Realtor, Real Estate Consultant, REO & Short Sale Specialist

      jessica.sulliman@ashbyrealty.com                      

      (602) 677-7977 Jessica Direct 

      (602) 677-1002 Randy Direct 

      (602) 445-9931 Fax                                   

      www.sunshinespecialists.com