short sale information: Can the bank kick me out? - 10/12/11 12:47 PM
The bank can’t make you leave your home until the foreclosure process is fully complete.  You are still the official homeowner until the lender has completed all of the necessary legal steps of the foreclosure process.  However, if you have already ditched the home and it becomes vacant, the bank has the legal right to secure the property.
It is unwise to leave the property vacated.  If the bank discovers it is left empty or attempts to confirm that someone still lives in it, they may send a bank official to check on the property.  They might have reason to suspect … (3 comments)

short sale information: Why would the bank foreclose on my home? - 10/10/11 03:24 PM
If you can’t keep up with your monthly mortgage payments, it forces the lender to take legal action in accordance with the promissory note you signed to obtain the mortgage note.  They will seize the property and try to recoup their losses by auctioning it or selling it.  The main goal of the bank by loaning you the money for a house purchase is to make a profit through the interest payments that you pay over a prolonged 15, 20 or 30 year mortgage. So, if you stop making those loan payments you are “defaulting” on the financial agreement between you … (1 comments)

short sale information: What are the credit implications of a foreclosure? Is my credit ruined forever? - 08/29/11 04:54 PM
A foreclosure can drastically upset your credit score and should only be considered as a last resort. Some who have gone through a foreclosure claim that the foreclosure dropped their score as much as 250 – 350 points.  So if you had a near perfect score of 790, your score could be dropped as low as 440, depending on other bill you may be behind on in addition to the foreclosure on your credit record.
A creditor will not offer you financing for 24 months or more after a foreclosure. This is not only regarding financing for a home, but for … (4 comments)

short sale information: Are You Ready To Fight For Your Home? How to Fight Foreclosure! - 08/11/11 10:10 AM
Foreclosure is something that many people think can never happen to them.  The reality is it can happen to anyone.  It happens to good, responsible people every day.  There are many reasons that may leave us believing that foreclosure is the only option.
 
Rising interest rates Unemployment Health problems Divorce Personal tragedy such as the loss of a family member With the foreclosure process varies from state to state, here in Utah it is up to the lender and their attorney to determine how close they want to conform to the guidelines.  To help educate you on the process of … (0 comments)

short sale information: Hey I make my mortgage payments on time, but I want to short sale my home, is that possible? - 07/27/11 01:25 PM
Hypothetically, let’s say your boss transfers you to a new city.  One of your biggest worries may be the prospect of having to sell your home during a housing slump.  Even if you have been making timely payments, this is no time to take on two mortgage payments but you know it may be difficult to sell your home.  This is just one scenario. People need to sell their home for other reasons, such as divorce or needing a bigger place for a growing family; or needing a smaller place after retirement.  So, you may be wondering; “Do I have to … (4 comments)

short sale information: 5 Debt Relief Tips That You Should Know During A Recession - 07/15/11 12:45 PM
With reports of a recession frequently in the news, more and more people are searching for ways to save money, protect themselves, and get out of debt.  According to Mishaun Taylor, here are 5 simple tips for debt relief during worrisome talks of an impending recession:
1.  Reduce Your Personal Debt.
Do something about your credit cards.  If you're a customer in good standing, call each of your creditors and ask what can be done to either reduce the amount of your monthly bills, or get them paid down faster.  If you have multiple credit cards, pay down the card with … (2 comments)

short sale information: What is required to do a short sale? - 07/05/11 01:25 PM
In order to apply for a short sale, there must be a proven hardship of some kind. The bank wants to know what happened to make your expenses go up (medical bills, new baby, rate adjustment etc.) or what happened to make your household income go down (job loss/transfer, divorce, cut back in hours, etc.) This will all be explained in a hardship letter that you will need to write on your behalf.
Along with the hardship letter, the bank will want to see documentation to back up the hardship, as well as all of your financial data disclosed; just the … (0 comments)

 
Brian Pitcher (The Pitcher Group)

Brian Pitcher

Salt Lake City, UT

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The Pitcher Group

Address: 1214 E. Wilmington Avenue, Salt Lake City, UT, 84106

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