What is strategic default? A strategic default is the decision by a borrower to stop making payments on a debt despite having the financial ability to make the payments. This is happening more and more because of the economic downturn and the price of homes, but before you do that- Here are some things to consider
•- Fannie Mae will start going after strategic default in court to recoup some of their losses
•- Fannie Mae will not back new loans for borrowers that default strategically.
•- Congress is discussing a new law will penalize strategic defaulters by barring them from getting FHA -back loans in the future.
If you are owe more on your house than the current value -there are alternative to walking away or defaulting....
Are you upside down in your property? Are you behind or struggling with your mortgage? If you would like a confidential conversation on the short sale process and your options, please call or email. There are options to foreclosure available. Do Not Wait As Time Is Not On Your Side. We want to help and have been able to help many families. There is no cost or obligation at all to you. Call or email us today 301-613-2043 Direct, download information @ ShortsaleHelpMD
Maybe you haven't heard yet, but if someone you know is struggling with an unaffordable mortgage, they may be eligible for a new program that offers $3,000 for going through a successful short sale and avoiding foreclosure.
It's called Home Affordable Foreclosure Alternatives, or HAFA, and the program's aim is to save as many people from foreclosure as possible.
To learn all the details and exactly how HAFA can help, download my free report @ ForeclosureHelpMD
Get the facts before you make a move that will affect you and your family financially for years to come.
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