loan modifications: Loan Mortification or Loan Modification? - 06/08/12 08:26 AM
WWW.SHORT-SALES-EXPERT.COM originally published in Falling Traps: Watch for these warning signs when you are seeking a LOAN MODIFICATION: A guaranty to stop the foreclosure process. .  no matter your circumstances!! You should not allow anyone take chances on your future. . no one can guarantee you this . .only the investor that owns your loan! They instructs you not to contact your lender, lawyer or credit or housing counselor. .and let them do ALL THE TALKING for you. . .this is your future at hand. .don't trust a clerk with 100 files to work on your file and give up at the very first busy signal. They … (4 comments)

Often times I get this question a lot trough my website
"Why can the Lenders just reduce the principal so troubled homeowners can stay in their houses. . ."
Many reasons why this is not a popular choice for Lender. .
Mostly because if they agree to one, then their next door neighbors would want the same thing..and their next door neighbors and their next door neighbors and so on. . .until the banking industry collapses
In a briefing by Credit Suisse this week, the financial giant’s opinion was that reducing principal balances of underwater mortgages is a risky … (2 comments)

loan modifications: Freddie Mac Programa Para Desempleados - Ventas Cortas / Short Sales Maryland Virginia - 01/13/12 03:52 AM
Freddie Mac Programa Para Desempleados
Mortgage Assistance Programs - Freddie Mac

Si usted está desempleado y tiene una hipoteca con Freddie Mac. La noticia no podría ser mejor.
Una venta corta (short sale) sigue siendo una solución sensible cuando su casa está bajo el agua y ud. está desempleado.
Pero no hay necesidad de apresurarse si usted ha perdido su trabajo.
Freddie Mac ha anunciado que los propietarios que se encuentren desempleados pueden solicitar una tolerancia oficial después de que ya faltado algunos pagos. Como dueño de casa, Ud. puede saltar hasta un máximo de 12 meses de pagos de … (4 comments)

loan modifications: Freddie Mac Unemployment Program - 12 Month Mortgage Assistance - 01/13/12 03:20 AM
Freddie Mac Unemployment program
Mortgage Assistance Programs - Freddie Mac

If you are unemployed and you have a Freddie Mac owned mortgage. The news could not be better.
A short sale remains a sensible solution when your home is underwater and you are unemployed. 
But there is no need to rush  it if you have lost your job.
Freddie Mac has announced that unemployed homeowners who apply for an official forbearance after already missing some payments can skip up to a maximum of 12 months of their mortgage payments. Only after that, if the homeowners are still unemployed … (3 comments)

loan modifications: TAX RELIEF FOR SHORT SALES EXPIRES IN 356 DAYS - 01/11/12 11:40 PM
Perhaps one of the most powerful reasons to do a short sale now rather than waiting. This law could save you thousands of dollars. .
Should you consider and elect to do a short sale, rather do it now than later. . 

The clock is ticking until the expiration of the 2007 Mortgage Debt Forgiveness Act expires on the last day of December this year.  Previously set to expire earlier, Congress extended the expiration date to end in effective January 1, 2013.  Will it be extended again?  Is it necessary?
The extension should be extended again – but that … (4 comments)

loan modifications: When a Short Sale Becomes A Better Option in Maryland - 01/05/12 01:09 PM
SHORT SALESWhen a foreclosure is looming. .
a short sale is a better option!
No deficiency short sales being performed in a regular basis. .
call 240-426-5754

Is a short sale an option for me?
Short Sales Short Tales : It Never Happened
Short Sales Short Tales: She Cut The Blinds!
Short Sales Short Tales: Going Back!
SHort Sales - Short Tales:  A FAX RANT
Short Sales - Short Tales :  The Price
Short Sales - Short Tales :  Being Afraid
Short Sales - Short Tales : The Fast Talker

loan modifications: The Shrinkage Factor for Short Sales In A Pool Of Buyers - 12/16/11 01:54 AM
  Agents, when you call on a listing agent to ask. .How many loans on this short sale? The answer really does not reveal anything to help your buyer(s) make a decision. . There are hundreds if not thousands of (one loan) short sales that where not approved. .and there are thousands of (two loan) short sales that were approved. . Better questions you may want to ask? Have you already send a complete package to the lender PRIOR to putting the property in the market? HAFA Short Sale? . .then asking price is the already approved price? My client wants to write an offer, can you share with me the bank's … (3 comments)

loan modifications: Nibbling at the bullet and letting Citigroup off the hook… - 11/16/11 12:56 AM
Instead of the government helping the people that needs it the most. . the same lenders are pushing the Government to alleviate their losses with policies paid by helpful  lobbyists inside Washington DC
At the root of this crisis is that there’s a bailout going on FOR THE LENDERS and not the distressed homeowners!
The loan modification nightmare that homeowners are being forced into signing(a pact with the devil), will only extend the agony of the housing crisis.
A great post, bringing a glimpse of what is wrong with the system.

The new HARP 2.0 rules that go into effect soon … (3 comments)

loan modifications: Strategic Default, Principal Forgiveness and the Specter of Moral Hazards - 11/14/11 12:10 AM
A great article that asks the question most asked by confused homeowners. . the reduction of principal in order to keep a homeowner in a home.
In my opinion, selective principal reduction will not work because all homeowners would want the same thing. .and the banking system would collapse because of it.
As simple as this approach would be, this is how I humbly present to you how to fix the housing crisis in the US right now . . . in just 30 days!
#1 Home underwater?, behind on your payments? lender pays for a full appraisal and determine the … (1 comments)

loan modifications: Banks offer deals to encourage short sales instead of foreclosures - 11/12/11 12:18 AM
When it comes to short sales, I can tell you that I was there when it all begun. .my first short sale was the most enduring horrific experience that I will never forget. . it seemed that even the bank did not know what a short sale was. .
A few years later.. things have changed
In my area, short sales are on the rise and foreclosures are on decline. 
Finally, lenders realized that we ARE HELPING THEM AS WELL!
Bank of America is testing foreclosure waters with an incentive program for defaulting homeowners to “short sell” their homes instead of enduring … (6 comments)

loan modifications: Scam or not? Guilty or innocent? Where did all the money go? - 11/05/11 12:57 AM
There are no excuses when schemers prey on homeowners during distressful times . .as such is the case on this post. .
In a world of short sales and foreclosures. . it is sad to see people hurting people for a profit. . whole families being devastated and sometimes. .. it seems that no one really cares. . such as this story.. .
 Scam or not?     Guilty or innocent?     Where did all the money go?
I'm not sure if this is a sad story or simply a story of a man in court that was resisting the banks attempt … (10 comments)

loan modifications: Two Tips for Writing Offers on Short Sales - 10/30/11 03:07 AM
Short Sales in Maryland
A very good article that depicts why short sales are so frustrating for many participants. It pays to be prepared and it pays to be working with someone that has the experience to take it to completion. .
For MD, DC or VA
Cue the violin music.
This is the tragic (yet typical) story of a buyer’s agent and her buyer who put an offer in on a short sale that ultimately ended up in foreclosure. The buyer showed an interest in living in a home in a specific neighborhood. There were many properties to choose … (7 comments)

loan modifications: Home Affordable Refinance Program (HARP) from Obama unveiled on 10/25/2011 - 10/26/11 10:33 AM
Home Affordable Refinance Program (HARP) from Obama unveiled on 10/25/2011 As a Real Estate professional that works almost exclusively helping people find options when their mortgages are underwater, this new program that has been recently unveiled, will help many homeowners that fall under their strict criteria. . 
Home Affordable Refinance Program (HARP) OR CHECK THE VIDEO BELOW … (0 comments)

loan modifications: The New Home Affordable Refinance Program (HARP) from Obama for Maryland Homeowners - 10/26/11 05:21 AM
The Home Affordable Refinance Program (HARP) has come up with a series of changes in an effort to help more eligible borrowers who can benefit from refinancing their home mortgage. This new program has its limitations and it is not for everyone.

The most important factor that will affect  my clients is that:
If you are behind on your mortgage payments, this program is not for you…you must be current with your monthly payments to your bank!
The following was taken directly from their official announcement
What is the purpose of this new program?
Eliminating … (4 comments)

loan modifications: Short Sales - Short Tales: "Hey, You Are Selling It Too Cheap!" - 10/21/11 02:40 AM

"Short Sales and Ignoring Reality" 

When we take a short sale listing, we analyze the surrounding market and all the comparable before we decide on a price. . .
Most of the time, our clients trust our suggestions, because we also have it in black in white. . meaning that we bring all the listings (printed) for the last 6 months as we carefully analyze them with the homeowner being present..
Most of them are shocked at the current prices in their neighborhood and solidifies their decision made going forward with a short sale.
"Our price goal for every short sale … (10 comments)

loan modifications: Short Sales Short Tales . . "The Fast Talker" - 10/16/11 04:58 AM

"The Fast Talker" (for Seinfield fans)

Yes, I question sometimes bank Representatives that connect with us when we are doing short sales.
For most part, they are helpful because that is their jobs and I fully understand that person does not have the decision make capability to make any difference in my short sale.
But from time to time I wonder where they find some of this employees with zero training. .
Case In Point
I just heard a message from a bank representative in my voice mail. .
"Hello Fernando Herboooosssu . .my name is Jen? for the property … (3 comments)

loan modifications: Short Sales - Short Tales : She Cut The Blinds! - 10/11/11 04:14 AM

She Cut The Blinds!
It never ceases to amaze me. .
When doing short sales, I see the best and the worse on people.
In this particular case, it was one of our earlier short sales. .
Everybody was a little confused and not sure what a short sale was back then . .
But we knew we were helping people . .and that was that.
We were representing the seller and she was a little intimated about the process. To make matters worse, she was going trough a divorce and she was pretty upset about her situation.
Before closing, the … (4 comments)

loan modifications: Clarksburg MD Loan Modifications and Short Sales - 09/28/11 11:01 AM
Short Sales and Loan Modifications
QUESTIONS AND ANSWERS for Clarksburg Residents in Maryland   
Q: How long does the process of a short sale take from start to finish?
The short sale process typically takes between 3 to 6 months. Servicers nowadays have improved considerably the time it takes. Always depending on the servicer of your loan. Typically we advise our clients not to expect an answer between 3 to 6 months.
We also assume responsibility for our clients as we assist them relocate when the short sale is completed. Our services include helping you find appropriate housing for you … (1 comments)

loan modifications: Does this rag smell like chloroform to you? - 09/20/11 11:57 PM
The bank may as well be saying that. 
Some banks think that homeowners are drugged while the "PROCESS" of a loan modification is being considered.
My client was mortified.
After month and months of lost faxes, lost documents trying to save her home. .
Hours on the phone, incessant phone calls. Everything seemed to settle at first when she was accepted for a 3 month trial period of her loan modification. . soon 3 became 4 and 4 became 5 and finally on the 6th month she was told that she had two choices. .
Short sale or foreclosure.
She … (6 comments)

loan modifications: Chasing Loan Modifications in Maryland From Chase Bank - 09/16/11 05:57 AM
Owe More Than Your Home Is Worth?
Looking for a way out.. .
Want to know different tools, Techniques and Tactics for battling with Chase bank?
Do you want to save your home?
Do you want to save your credit?
Better get the truth About Your Options. . .
Because. . .

. . and it shouldNOT BEyour only option. .

TO avoid A . . . 

10 Loan Modification Secrets Chase Bank Does Not Want You To Know. . .
Hi, my name is Fernando Herboso and a licensed broker in Maryland that specializes in distressed … (0 comments)

Fernando Herboso - Broker for    Maxus Realty Group, 301-246-0001 Serving Maryland, DC and Northern VA (Maxus Realty Group -  Broker 301-246-0001) Ambassador large

Fernando Herboso - Broker for Maxus Realty Group

301-246-0001 Serving Maryland, DC and Northern VA

Gaithersburg, MD

More about me…

Maxus Realty Group - Broker 301-246-0001

Address: Serving Montgomery, Frederick, PG Counties Maryland PLUS Northern VA, Listing Marketing Expert at your service 30 miles radius from, Gaithersburg , MD, 20878

Office: (301) 246-0001

Mobile: (240) 426-5754

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