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Credit Repair Techniques - Part 3 of 3

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Mortgage and Lending

Credit Repair Techniques - Part 3 of 3

For many people in today's economy the financial situation is so sever that alternative measures are needed and we must look at the short and long term effects of each individuals situation on a case by case basis.

I know many who purchased investment homes during the Real Estate Boon who set out to make a profit not a loss. A lot of work and time was put into finding the right property followed by long weekends of Rehab work to get the home in retail condition prior to selling or renting it. They did not go to these extremes knowing that they were going to lose thousands of dollars in the process.

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Nobody wants to be UPSIDE DOWN on their mortgage but the facts are many who purchased these homes as their primary homes paid top dollar and in the years to follow they would lose nearly half their marketable values leaving them in a situation where they owed tens of thousands and in many cases hundreds of thousands of dollars more then they could hope to sell the property for. This has left millions of people stuck with a home that they can not refinance, sell or afford to keep. As a result the alternatives are difficult and painful. But it is important to know that we all have legal rights under the law.

I hear these stories every single day from distraught people who do not know where to turn for help. Well I tell them not to give up hope because I know a group of Attorneys who will assist them through this very difficult time in their lives and will work to give them back their lives as well as their credit and credentials.

Folks I speak from experience having gone through the same thing myself and having many friends and family members who have suffered similar situations over the past few years. I can tell you today I am much better off now that I have the good people at Yesner and Boss assisting me and my family.

Please call and have your family and friends call me to find out more about the alternatives you may have.

Posted by

Jim Poole

Senior Loan Officer NMLS #351358

813.205.7958 Mobile

jptampa@live.com 

 

Comments(2)

Jeffry Evans
Temple, TX

So what kind of options are there for someone who has a problem like this?

Apr 14, 2011 06:22 AM
Jim Poole
Tampa, FL
Zero Down, USDA Purchase Loans, FHA 203(K) Rehab & VA Streamline Loans

Good question Jeffery. When someone falls into an area that is beyond my ability and scope to help I set them up a free consultation with an Attorney who is best qualified to assist them with their particular issue or issues. Primarily these are Bankruptcy and Foreclosure Defense councilors. After the consultation is completed in many cases the clients may choose to short sell their property and that's when I hand them off to a real estate professional.

Apr 14, 2011 07:00 AM