certified distressed property expert: If Foreclosure is in Your Future - There Are OPTIONS!
- 12/08/13 12:16 PM
If you are a struggling homeowner in Montgomery County, MD seeking ways to avoid foreclosure, there are options. Loan Modification or Refinance It’s in your loan servicer’s best interest to help you keep your home, so reach out to them and discuss your options. If you don’t qualify for a refinance, talk to them about getting a loan modification. This will not only reduce your mortgage payments, it will also put any outstanding balance on the back end of the loan. Just make sure that you fully understand the terms of your modification. Often times, lenders will do a “trial” … (0 comments)
certified distressed property expert: Are You Facing (or Denying) Foreclosure?
- 12/08/13 12:02 PM
Since 2007, millions of homes have been lost to foreclosure, and millions more are headed in that direction – including many homes right here in the Silver Spring area. As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to ensure that you or anyone you care about does not add their home to that statistic under! The unfortunate fact is that so many homeowners who have played by the rules and never imagined that they could be facing foreclosure are now in a very tough situation. More than one in … (0 comments)
certified distressed property expert: Help for Distressed Silver Spring, MD Homeowners – Starting Over
- 07/26/12 04:16 AM
While home values are beginning to work their way up, there are still many homeowners with negative equity in their Silver Spring, MD homes. Fortunately, there are several ways individuals can start fresh during these rough economic times. Short Sale A short sale happens when the loan servicer accepts less for the home than what is owed. The first “Great Recession” short-sale took place in 2006, and became increasingly popular in recent years. This is an involved process that requires expert negotiations with the bank, so make sure you work with a Silver Spring, MD Realtor who is also a CDPE – Certified … (0 comments)
certified distressed property expert: Fewer Homes Underwater in 2012
- 07/19/12 10:45 AM
CoreLogic recently reported that the number of Silver Spring homes underwater has decreased. Since the fourth quarter of last year, the percentage of negative equity homes has gone from 25.2 percent to 23.7 percent. This equates to almost 1 million homes. “In the first quarter of 2012, rebounding home prices, a healthier balance of real estate supply and demand, and a slowing share of distressed sales activity helped to reduce the negative equity share,” said Mark Fleming, chief economist for CoreLogic. “This is a meaningful improvement that is driven by quickly improving outlooks in some of the hardest hit markets. While … (1 comments)
Two government agencies, The Office of the Comptroller of the Currency (OCC) and the Federal Reserve, have initiated an independent foreclosure review for borrowers who lost their homes between 2009 and 2010 from certain loan servicers. Upon review of the application, a Silver Spring homeowner could qualify for up to $125,000 as settlement compensation. This review is separate from the $26 billion “ READ MORE.... If you are a struggling homeowner in Silver Spring, MD who is seeking foreclosure alternatives and would like to learn more about possible solutions, contact Emcee Arah online or call 301.452.5252. As a real … (0 comments)
certified distressed property expert: National and Local Foreclosure Activity Decreasing
- 07/05/12 12:02 AM
Foreclosures and short sales in Silver Spring, MD are still quite common, but not like they used to be. According to the most recent market report released by CoreLogic, May showed a decrease in foreclosure activity relative to 12 months ago on a national level. “Although the level of completed foreclosures remains high, it is down 27 percent from a peak of 1.1 million in all of 2010,” said Mark Fleming, chief economist for CoreLogic. In May, the national foreclosure inventory total was at 1.4 million homes. This figure accounts for 3.4 percent of all homes. Last year in May, … (0 comments)
certified distressed property expert: Mortgage Delinquencies at a 3-Year Low
- 06/28/12 04:04 AM
After the housing crisis began in 2008, delinquent mortgage payments became the norm. Distressed homeowners in Silver Spring, MD and around the nation struggled to stay afloat amid a volatile and brutal economy. Fortunately, many positive reports have been released recently. These reports indicate that home sales and values are improving, giving hope to homeowners who are underwater. And thanks to a massive settlement with five major bank lenders, more of these homeowners are being approved for refinances, modifications, and principal reductions. Another bit of good news was just released by the Office of the Comptroller of the Currency (OCC) in a … (1 comments)
certified distressed property expert: Foreclosure Avoidance Options for Struggling Homeowners
- 06/21/12 01:46 AM
If you are a struggling homeowner in Montgomery County, MD seeking ways to avoid foreclosure, there are options. Loan Modification or Refinance It’s in your loan servicer’s best interest to help you keep your home, so reach out to them and discuss your options. If you don’t qualify for a refinance, talk to them about getting a loan modification. This will not only reduce your mortgage payments, it will also put any outstanding balance on the back end of the loan. Just make sure that you fully understand the terms of your modification. Often times, lenders will do a “trial” … (1 comments)
certified distressed property expert: What is a Short Sale and How Do You Qualify?
- 04/12/12 01:47 AM
There are several options a homeowner can consider to avoid foreclosure. One of these options is to list your home as a short sale with a Certified Distressed Property Expert (CDPE). What is a short sale? A short sale is a solution that allows homeowners to sell their homes, despite the fact that they owe more than what the home is worth. It does require approval from your lender and you must meet certain criteria to qualify. These criteria include: Financial Hardship, meaning that there is some circumstance beyond your control that is making it difficult to pay your mortgage every month. Reduced … (0 comments)
certified distressed property expert: Home Affordability Programs
- 03/29/12 02:25 AM
The Obama Administration is serious about helping homeowners avoid foreclosure, and has implemented a variety of programs to assist homeowners in keeping their American dream. This is why the Making Home Affordable Program was created. There are several plans within this program, specific to the needs of individual borrowers. If you are interested in refinancing or modifying your current mortgage, you may qualify for one of the following programs: The Home Affordable Modification Program (HAMP) can lower your monthly mortgage payment to 31% of your gross income, which in turn could result in a 40% reduction...READ MORE HERE … (0 comments)
certified distressed property expert: Short Sale versus Foreclosure
- 03/22/12 05:09 AM
In these challenging economic times, more and more homeowners are finding themselves weighing the pros and cons of a short sale versus a foreclosure. It may go without saying that you want to try to avoid foreclosure at all costs. But after months, if not years, of battling overwhelming debt and an underwater property, foreclosure might seem appealing due to the shear fact that it’s easier. However, the long term effects of a foreclosure might be more difficult than you realize. For starters, there is your credit score to consider. A foreclosure can adversely affect your credit score by 100-200 … (1 comments)
certified distressed property expert: What Can A CDPE Do For Me?
- 02/23/12 08:30 AM
Problems are a guaranteed part of life, and home ownership comes with its own set of issues. If your roof is leaking, you look for someone who's got expertise in roofing. Same with leaking pipes – when the problem requires more than a simple tweak, you call a plumber. When an old tree falls on your property, you seek out someone who's experienced to remove it. In the same way, millions of home owners across the country are dealing with problems that stem from the current economic crisis. Financial hardship – including loss or decrease of income – can lead to … (2 comments)
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