Hampton Roads' Distressed Property Expert

What are my options as a home seller when my property is in or heading toward default?

Wed, 23 Mar 2011 07:57:00 GMT

What are my options as a home seller when my property is in or heading toward default?

In the event that you have been delinquent in paying your mortgage or anticipate that you will not be able to make payments moving forward, your options will vary based upon several factors or variables that are specific to you and your property. Always remember that each possible resolution will be evaluated on a case-by-case basis by all parties involved. When considering your options, you should take into account:

the amount of equity you have in your property compared to the outstanding loan balance

the additional financial resources you may be able to bring to bear

whether or not you live in a homestead state, and the nature and amount of the homestead exemption

and/or the amount of private mortgage insurance you have.

All of these factors should be taken into account along with many other variables and special conditions.

The most important decision you need to make is to "make a decision." Typically, when homeowners avoid confronting the serious lifestyle and financial consequences of defaulting on their mortgage, they end up with a significantly more deleterious outcome than they would have, had they taken charge of their own destiny while they could.

Once you decide to take action, we recommend that you contact a lawyer and a real estate agent qualified to assist with your special real estate needs. Top 5 in Real Estate members are not just committed to helping you pursue the potential option of a short sale, but to encouraging you to fully consider all other options that may be available.

Early on in the potential foreclosure process, all homeowners should not only contact an attorney, but also research all potential guidance and assistance available from the government, including the U.S. Department of Housing and Urban Development (HUD). HUD's Guide to Avoiding Foreclosure may be particularly helpful. HUD's toll-free telephone number is (800) 569-4287. Not all homeowners, however, can qualify for certain HUD programs. Whatever guidance you seek as a homeowner, we recommend, at a minimum, that you also carefully consider each of the following questions and answers:

Questions: What is a better or more likely outcome for me and why?

A short sale or a foreclosure?

A short sale or a repayment plan?

A short sale or a forbearance plan?

A short sale or a loan modification?

In the case of an FHA loan, a short sale or a partial claim?

A short sale or a short sale/assumption agreement?

A short sale or a deed-in-lieu of foreclosure?

A short sale or a bankruptcy?

Answers: Any and all of the above-mentioned options pursued by homeowners should take into account their:

individual present and projected future financial circumstances

short- and long-range lifestyle goals

concerns over credit rating

desire to remain living in their present home

a complete understanding of the impact each available option might have in comparison to all other options being considered

In order to best contextualize or prioritize one's various opportunities or limitations with all other options, it is advisable that an attorney or other suitable counsel be engaged. Such counsel is vital in order to properly weigh all legal, financial, tax and lifestyle implications surrounding each option. Since this brochure principally focuses upon the subject of short sales as just one alternative, it is important to note that short sales usually benefit home sellers because they not only stop mortgage foreclosure, but typically prevent the lender from suing for deficiency. Deficiency refers to the difference between the outstanding loan amount and what the net proceeds are from the sale of the home, or in some cases, simply what the proceeds are that the lender receives from the sale of the home. During their short sale negotiating process, it is vital that homeowners have their attorney ensure that the lender agrees to forego suing for any monies that are written off due to the short sale.

10 Tips to Improve Your Chances of Getting a Mortgage on Favorable Terms

Mon, 14 Mar 2011 09:51:27 GMT

10 Tips to Improve Your Chances of Getting a Mortgage on Favorable Terms

-Speculative fears by renters who think they can't afford the costs related to owning a home may cause many first-time home buyers to miss out on the opportunity of a generation to become homeowners this year. According to Fannie Mae's National Housing Survey, financial fears are the top reasons given by renters for not buying a home, followed closely by purchase and upkeep affordability.

Sue Stewart, senior vice president for Move, Inc., offers the following tips to help first-time buyers improve their chances of getting a mortgage on favorable terms.

1. Pay down debt. Before you apply for a mortgage, reduce your total debt (monthly payments on credit cards, auto loan, student loans, consumer loans) to help reduce your overall debt-to-income ratios and improve your credit score. Generally, your ratio should be 36% of your gross monthly income. Also, the total of your housing expenses alone, whether you are renting or buying, should not exceed 28% of your monthly gross income.

2. Clean up your credit. About half of all renters think they don't have good enough credit for a mortgage, but most don't really know. Obtain your free credit report from each of the three credit bureaus (Equifax, Experian and TransUnion) and carefully review them, noting all negative items. Contact creditors to correct inaccurate or outdated items. It will take time, but you need to raise your credit score to a minimum of 680 and ideally to 720 and above to qualify and to avoid being penalized with a higher interest rate. .

3. Make no new large purchases and don't apply for new credit before or during the period that you are applying for a mortgage all the way up to closing. Lenders check credit reports at the time of an application and again right before closing. Last minute questions about your credit can cause a delay, a higher interest rate, or a denial from a lender. Wait to buy the new furniture until the house is yours.

4. Increase your down payment. This will reduce the loan-to-value ratio and increases the likelihood of getting a loan and better terms from your lender. Increasing your down payment immediately increases your equity, reduces the amount you borrow and reduces your monthly mortgage payment. If you are in need of down payment assistance, more than 4,000 local and state governments offer workforce house assistance for low- to medium-income buyers. Some require homeownership education, which can be very helpful.

5. Gather documents beforehand. Don't wait until the last minute and find yourself having to scramble for paperwork that supports your employment status, assets and credit. Have all the necessary documentation ready for review when you apply. Collect your income tax returns, pay stubs, bank and financial statements and student loan paperwork. Stay on top of your documentation as time passes while your application is pending, and get updated documents, such as pay stubs, to your lender.

6. Anticipate closing costs. Closing costs, which can run 5-7% of your total transaction add up quickly and must be paid in cash-in addition to your down payment. Be prepared to have adequate cash on-hand.

7. Determine the type of loan you need. Fixed rate? Adjustable? FHA or VA? Fifteen or 30-year term? Jumbo? Second trust? These decisions aren't just financial; they also reflect your lifestyle, your risk tolerance and the programs for which you might qualify. Do your homework and make a decision before you go house hunting. Don't let someone talk you into a different game plan to stretch your finances to afford a particular property.

8. Ignore "bait rates." Some mortgage advertising can be misleading with low rate promises. Beware. These "bait rates" are only for those with extraordinary credit with no contingencies. Your rate will be based on many factors: your credit, your debt-to-income and loan-to-value ratios, the size and type of your loan, where you live and the day you lock your rate, etc. You won't know what your rate will be until your application is accepted. By then, it may be too late for you to find a competitive rate from another lender. Instead, pick a lender you trust, who will work with you and help you find the best all-around deal.

9. Negotiate a lower home sales price. Getting a better deal on your home not only works for you, it works for your lender because it lowers your loan-to-value ratio. Prices are still falling in many markets and sellers are eager to make a deal. If you're not sure what a property is worth, you can ask your REALTOR for a comparative market analysis.

10. Have a cash reserve. A good rule of thumb is to have at least three months salary saved as a cushion before you buy. This will help with your ratios and enable you to afford and cover closing costs.

For more information, visit www.mortgagemath.com and www.move.com.

Q: What guidelines should I use to find a contractor?

Tue, 08 Mar 2011 08:07:04 GMT

Q: What guidelines should I use to find a contractor?

A: Use caution. Your home is your most valuable financial asset. You will want someone who completes the job, not botch it up. It is important that you find a competent and reliable contractor who will successfully complete your home improvement project.

Here's what you can do:

- Avoid the Yellow Pages. Check with family, friends, neighbors and co-workers for recommendations.

- Contact local trade organizations, such as the local Builder Association or Remodelers Council, for the names of members in your area.

- Deal only with licensed contractors. The state licensing board and local Better Business Bureau also can tell you if there are any outstanding complaints against the license holder.

- Interview each contractor, request free estimates, if possible, and ask for recent references. Make sure bids are based on similar project specifications. And do not automatically settle for the lowest bid.

- Ask for proof of worker's compensation insurance and get policy and insurance company phone numbers so you can verify the information. If the contractor is not covered, you could be liable for any work-related injury that takes place during the project. Also check to make sure the contractor has an umbrella general liability policy.

4 Important Tips to Keep in Mind when Seeking Senior Housing

Tue, 08 Mar 2011 08:06:17 GMT

4 Important Tips to Keep in Mind when Seeking Senior Housing

People are living longer today. The century-long expansion in the world's population that is 65 and older is the product of dramatic advances in medical science and health lifestyles. Currently, 13% of the U.S. population is 65 and older, up from 4% in 1900. As Baby Boomers turn 65 in high and higher annual numbers, it is estimated that one in five Americans will be over age 65 and about 5% over 85.

All this calls for growing care and services for the elderly population and pre-planning for lifestyles in the future.

The senior housing industry has been growing dramatically over the last 15 years as many adult children, especially daughters who have usually been the main caregiver for aging parents, are now in the workforce and unable to provide the attention to their parents' needs, whether physical or social.

There are a number of things to be considered when choosing lifestyle alternatives.

-Location. Keeping your parents close to home should not be the number one consideration. Although it is important that the community be convenient for family and friends to visit, being close to amenities they need and trust will make their senior living experience rewarding and more fulfilling.

-Type of community. Visiting to make sure the current residents have similar interests, backgrounds and values will allow for a more enriching life in the golden years. Many communities invite prospective residents to tour their community and enjoy lunch with the community which is a wonderful way to ascertain if the culture is a fit. Many communities offer a weekend stay to experience more fully what the community has to offer.

-Staff. Is the staff appropriately dressed, personable and outgoing? Do the staff members treat each other in a professional manner? Does the staff call residents by name and interact warmly? The answers to these questions will determine quite a bit toward whether the community is right for your loved one.

-Medical needs. Does the community have on site medical supervision? If not, is there an agency that is associated with the community that can help when needed?

For more information, visit www.alternativeforseniors.com.

6 Questions to Ask Your Lender to Secure an Affordable Home Loan

Tue, 08 Feb 2011 11:05:26 GMT

6 Questions to Ask Your Lender to Secure an Affordable Home Loan

With lending standards and credit criteria continuing to shift on a seemingly daily basis, it’s no wonder most consumers are confused and hesitant to move forward on buying a home. But when armed with the right series of questions, home buyers can work with their lender to help secure an affordable, sustainable home loan. Here are some key questions to ask your lender or real estate professional when embarking on the mortgage process:

1. Where does my credit score need to be? An experienced lender can tell you point blank what kind of interest rate you can secure based on your credit score.

2. How can I improve my credit score? Your lender should be able to look at your credit report and tell you exactly what to clear up in order to raise your credit score.

3. What will my total monthly payment be? Make sure your lender takes all variables into consideration to let you know exactly what your monthly payment will be, down to the penny.

4. What are the qualifying guidelines for the loan? With the array of government programs and loan products available, qualifying guidelines can vary dependent on the type of loan product. Ask your lender what type of loan is best suited to your qualifications.

5. Does the loan have any points or origination fees? Sometimes, you may have to pay points, prepaid mortgage interest, at closing in order to get a lower interest rate. Ask about this upfront to help you decide if this is the best loan for you.

6. What is the annual percentage rate (APR)? The APR is important for true loan cost comparisons and is typically provided to you at the time of application (or within 3 days) on a Truth in Lending disclosure (TIL). The APR is generally higher than the initial rate because it includes all of the lenders fees.

11 Tips to Save Taxpayers Time and Money

Mon, 17 Jan 2011 13:52:18 GMT

11 Tips to Save Taxpayers Time and Money

Late passage of tax legislation and delayed processing of some tax forms may make taxpayers wonder how this tax season will differ from last season. As the IRS prepares to accept e-filed returns Jan. 14, H&R Block is taking the guesswork out of tax season by offering taxpayers 11 tips to help them navigate tax season 2011:

1. Put your 2% raise to work. Taxpayers get a 2% raise in 2011 thanks to the Tax Relief Act of 2010. This means workers who earn $50,000 a year will have an extra $1,000 in their paychecks—or $600 more than they received from the Making Work Pay Credit. Taxpayers can put this to work for them by contributing to IRAs and 401ks, paying bills or funding a college savings account.

2. Don’t wait to file. The IRS may be delayed until mid-February in processing forms for up to 50 million taxpayers. Of the forms, the three most common delays are for itemized deductions, $250 educator’s expense deduction, and the tuition and fees deduction.

“Whether taxpayers file in one of H&R Block’s 11,000 tax offices or using our At Home product, they can prepare their returns now and we will hold them until the IRS is ready to begin processing,” said Kathy Pickering, executive director of the Tax Institute at H&R Block. “Taxpayers shouldn’t try to guess when the IRS will be ready to accept their returns. By e-filing through H&R Block now, they can have confidence they’ll get their tax refund as fast as possible.”

Also, taxpayers wanting their tax refunds earlier than usual can use H&R Block’s free W-2 Early Access service to get W-2s before the Feb. 1 distribution deadline.

3. Unemployed required to file. Even the 9.4% of individuals who are unemployed must file tax returns. All unemployment benefits will be taxed this year, unlike last year when the first $2,400 was tax-free.

4. Sandwich generation gets tax relief. “Sandwich generation” taxpayers—those supporting their parents and their own children—may be able to claim the $3,650 qualifying relative exemption. Generally, the taxpayer must provide more than 50% of the financial support for eligible expenses such as food, lodging, clothing, education, medical and dental care, recreation and transportation.

5. Health insurance for adult children starts. Children under 27 years of age who do not have access to employer-provided insurance may be added to their parents’ health insurance policies starting in 2011 as a result of health care reform. This benefit is not taxable.

6. Education benefits extended. The American Opportunity Credit was extended, allowing taxpayers to claim $2,500 for the first four years of college education for each student. The tuition and fees deduction was also extended and could provide a reduction in taxable income of up to $4,000.

7. 2008 home buyer credit repayment starts, but not for 2009 and 2010. The 2008 First-Time Home Buyer Credit was similar to an interest-free loan and taxpayers must begin repaying it with their 2010 tax returns. In general, taxpayers must repay $500 a year for 15 years. If the taxpayer no longer lives in the house, then the credit must be repaid in full with the next tax return.

Taxpayers who claimed the credit in 2009 and 2010 will not have to repay it unless the house is sold or no longer their principal residence within three years of purchase.

8. Home buyer credit exceptions for military. Military personnel who claimed the 2008 home buyer credit and sold the house after Dec. 31, 2008 due to relocation orders do not have to pay back the credit. Additionally, military personnel on extended leave outside the U.S. for at least 90 days between Jan. 1, 2009 and May 1, 2009 may claim the credit if they close on the house before May 1, 2011.

9. Energy credit reduced. For 2011, the lifetime maximum for the energy property credit is reduced from $1,500 to $500. Taxpayers who never claimed the credit can claim the entire $500. But, those who claimed $500 or more for the 2009-2010 and/or the 2006-2007 energy credits are not eligible in 2011. Eligible improvements include external windows and doors, insulation, roofing, HVAC and non-solar water heaters meeting specific energy guidelines.

10. Adoption Credit fully refundable in 2010 and 2011. The Adoption Credit can be claimed for qualified expenses up to $13,170 for 2010 and $13,360 for 2011. Plus, new for 2010 and 2011, the IRS will refund any amount of the credit that exceeds the adoptive parents’ tax liability. With domestic, private and agency adoptions costing up to 30,000, this means more money back in the wallets of adoptive parents.

11. 2011 federal filing deadline is April 18. Due to the observation of Emancipation Day in the District of Columbia on April 15, the filing deadline for federal tax returns is April 18 this year. But, some state filing deadlines will remain April 15.

For more information, visit www.thetaxinstitute.com.

Q: How can I protect my home from creditors?

Thu, 06 Jan 2011 09:36:16 GMT

Q: How can I protect my home from creditors?

A: Check with your state. It may provide special protection through the filing of a homestead exemption, which exempts some or all of the value of your equity in the homestead – the home that you live in and the land on which it sits – from claims of unsecured creditors. Whether to file a homestead exemption will depend on your situation. Contact your county recorder’s office for details.

Six Ways to Change Your Money Attitudes

Thu, 06 Jan 2011 09:32:54 GMT

Six Ways to Change Your Money Attitudes

Cheapskate…skinflint…miser…These may not be names we’d like to be called, but don’t we secretly—or not so secretly—envy the people we know who are able to squirrel money away?

“Absolutely,” says Jeff Yeager, author of, “The Cheapskate Next Door”—a handbook on ways the naturally thrifty are different from you and me. “Frugal people have a different mindset about money.”

They not only live within their means, Yeager says, but sometimes substantially below it—even when their incomes are below the national average. From Yeager’s perspective, here are six ‘money attitudes’ we could learn from our cheapskate neighbors:

They distinguish between ‘needs’ and ‘wants.’ Do you really need that new pair of shoes? Or would they simply be nice to own? If you need it, buy it—but shop carefully and don’t give in to whims.

They don’t try to keep up with the Joneses; they don’t buy designer brands. Mostly, they don’t give a hoot what others think about the way they spend or don’t spend.

They are immune to buyer’s remorse. Because they pre-meditate their purchases, and don’t make impulse buys, they rarely regret anything they spend.

They appreciate ‘appreciation’—(and depreciation, too). They often buy antique furniture instead of new, so that it will likely increase in value, and they buy cars, tools, and other items used, so the first owner has already taken the bulk of depreciation.

They know the best things in life are not things. They tend to value time, and what they can do with time, more than money and what money will buy.

They answer to a higher authority. Nine out of ten cheapskates say it isn’t about amassing a lot of money. It’s grounded in higher ideals, such as religious beliefs or environmentalism. On average, they donate nearly twice as much to charity as other Americans.

Exterior Home Improvement Projects Provide the Best Return on Investment

Thu, 06 Jan 2011 09:29:54 GMT

Exterior Home Improvement Projects Provide the Best Return on Investment

REMODELING Magazine’s recently released 24th annual Cost vs. Value Report shows that exterior home improvements are leading the list of home improvements based on the return on investment. The free 2010-2011 report covers 80 U.S. cities and is available for download at http://www.costvsvalue.com. The report contains data that compares construction costs for popular remodeling projects against the share of those costs recovered at resale. In addition to city data, the report includes tables with national and regional averages, as well as complete project descriptions, 3-D images and QuickTime movies for all 35 projects surveyed.

The best return on investment was a steel entry door replacement which provides a 102% return on the cost at resale. A garage door replacement provides an 84% return. Projects with a 70-80% return included attic bedroom remodels, basement remodels, wood decks, minor kitchen remodels, window replacements and siding replacements. It is interesting that half of the eight best returns on investments, including the two top, were exterior improvements. This suggests that they might be effective investments for home sellers looking for an extra edge in the curb appeal department. The best return on investment for owners of single family homes will be landscaping in many cases. Thoughtful landscaping on an under landscaped home can return more than 100% of the investment, especially if you plant smaller trees and shrubs and give them a few years to grow.

The two lowest returns on investment (under 50%) were home office remodels and backup power generators. The former was somewhat surprising since home office remodels, which had an average cost of $29,000 yet returned just over $13,000 at resale have such a low rate of return given the growing popularity of teleworking. It may be that more modest permanent home office remodels, or ones that use available furniture or other alternatives to built ins can provide better returns.

Homeowners can improve the rate of return on these projects by doing some of the work themselves. Fairly simple and end of job tasks such as painting and installing trim (moldings, baseboards, etc.) are easy enough for most homeowners. You can also save money by buying kitchen appliances from discounters or on sale rather than getting them through a remodeling contractor.

One important word of caution: complaints about remodeling contractors continue at the top of the American Homeowners Foundation’s and Better Business Bureaus complaint list. If you are doing a substantial remodeling project, always utilize a comprehensive written contract to protect interests. The Foundation offers an inexpensive eight page model contact in MS Word digital format. Available on our website, it is written in plain English and intended to reduce disputes by giving both parties a clear sense of their respective obligations and responsibilities. Other organizations offer them as well. An attorney can also draw up a contract, and if a remodeling contractor wants to use his own contract form, you should always consult an attorney if there are any parts you don’t understand.

Courtesy of the American Homeowners Foundation and the American Homeowners Grassroots Alliance, www.AmericanHomeowners.org.

Foreclosure Activity Decreases 21 Percent in November 2010

Tue, 04 Jan 2011 08:22:27 GMT

Foreclosure Activity Decreases 21 Percent in November 2010

RealtyTrac, a leading online marketplace for foreclosure properties, released its U.S. Foreclosure Market Report for November 2010, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 262,339 U.S. properties in November, a 21% decrease from the previous month and a 14% decrease from November 2009. One in every 492 U.S. housing units received a foreclosure filing during the month.

“Foreclosure activity decreased dramatically in November, with fewer than 300,000 properties receiving a foreclosure notice for the first time since February 2009,” said James J. Saccacio, chief executive officer at RealtyTrac. “While part of the decrease can be attributed to a seasonal drop of 7 to 10 percent that typically occurs in November, fallout from the foreclosure robo-signing controversy forced lenders and servicers to hit the pause button on many foreclosures while they scrambled to revamp their internal procedures and revise or resubmit questionable paperwork.”

Both the 21% month-over-month decrease and 14% year-over-year decrease in foreclosure activity were the highest drops recorded since RealtyTrac began publishing the U.S. Foreclosure Report in January 2005.

Foreclosure Activity by Type

A total of 78,955 U.S. properties received default notices (NOD, LIS) in November, a 21% decrease from the previous month and a 31% decrease from November 2009—the 10th straight annual decrease in default notices. November’s default notices total was the lowest since July 2007.

Default notices in states that practice judicial foreclosures (called Lis Pendens filings) decreased 31% from the previous month and were down 43% from November 2009. Meanwhile non-judicial default notices (NOD) decreased 9% from the previous month and were down 12% from November 2009.

Foreclosure auctions (NTS, NFS) were scheduled for the first time on a total of 115,956 U.S. properties in November, a 16% decrease from the previous month and unchanged from November 2009. Scheduled judicial foreclosure auctions (NFS) decreased 34% from the previous month and were down 12% from November 2009, while scheduled non-judicial foreclosure auctions (NTS) decreased 7% from the previous month but increased 5% from November 2009.

Lenders foreclosed on 67,428 U.S. properties in November, down 28% from the previous month and down 12% from November 2009. Bank repossessions (REOs) decreased month-over-month in 37 states and the District of Columbia. November’s REO total was the lowest since May 2009, but November’s numbers pushed the year-to-date 2010 REO total to more than 980,000—already above the record year-end total for 2009.

Nevada, Utah, California post top state foreclosure rates

Despite a 20% monthly decrease in foreclosure activity, Nevada posted the nation’s highest state foreclosure rate for the 47th straight month. One in every 99 Nevada housing units received a foreclosure filing in November—nearly five times the national average.

Thanks in part to sharp monthly drops in foreclosure activity in Arizona, Florida, California and Michigan, Utah’s foreclosure rate leapfrogged to second highest among the states in November after being sixth highest the previous month. One in every 221 Utah housing units received a foreclosure notice during the month— more than twice the national average.

With one in every 233 housing units receiving a foreclosure filing in November, California posted the nation’s third highest foreclosure rate despite a nearly 14% decrease in foreclosure activity from the previous month and a 22% decrease in foreclosure activity from November 2009.

Other states with foreclosure rates ranking among the top 10 in November were Arizona, Florida, Georgia, Michigan, Idaho, Illinois and Colorado.

10 states account for more than 70 percent of national total

California alone accounted for 22% of the national total in November, with 57,378 properties receiving a foreclosure filing during the month—the nation’s highest state total. Default notices in California, which is primarily a non-judicial foreclosure state, decreased 11% from the previous month, while scheduled auctions decreased 2% and bank repossessions decreased 40%.

With 32,938 properties receiving a foreclosure filing in November, Florida posted the second highest state total despite a 42% drop in foreclosure activity from the previous month. Default notices in Florida, which is a judicial foreclosure state, decreased 52% from the previous month, while scheduled auctions decreased 46% and bank repossessions decreased 20%.

With 15,311 properties receiving a foreclosure filing in November, Michigan posted the third highest state total despite a 21% drop in foreclosure activity from the previous month. Default notices in Michigan, which is primarily a non-judicial foreclosure state, decreased 4% from the previous month, while scheduled auctions decreased 20% and REOs decreased 35%.

Georgia posted the fourth highest state total, with 14,423 properties receiving a foreclosure filing, and Texas posted the fifth highest state total, with 13,369 properties receiving a foreclosure filing. Both states—which are primarily non-judicial foreclosure states with short foreclosure processes that do not require a public default notice separate from the published foreclosure auction notice—documented double-digit percentage increases in scheduled auctions from the previous month but also documented double-digit percentage decreases in bank repossessions from the previous month.

Other states with foreclosure activity totals among the nation’s 10 highest in November were Illinois (12,941), Nevada (11,371), Ohio (10,458), Arizona (10,384) and Pennsylvania (5,672).

Top 10 metro foreclosure rates in Nevada, California and Florida

With one in every 86 housing units receiving a foreclosure filing in November, the Las Vegas-Paradise, Nev., metro area maintained the nation’s highest foreclosure rate among metropolitan areas with a population of 200,000 or more. Las Vegas foreclosure activity decreased 19% from the previous month but was up 21% from November 2009.

Reno-Sparks, Nev., also posted a foreclosure rate in the top 10, at No. 8 with one in every 150 housing units receiving a foreclosure filing in November.

Seven California cities posted foreclosure rates that ranked in the top 10: Stockton at No. 2 with one in every 130 housing units receiving a foreclosure filing; Bakersfield at No. 3 (one in 133 housing units); Modesto at No. 4 (one in 135 housing units); Vallejo-Fairfield at No. 5 (one in 144 housing units); Merced at No. 6 (one in 147 housing units); Riverside-San Bernardino-Ontario at No. 7 (one in 148 housing units); and Sacramento-Arden-Arcade-Roseville at No. 9 (one in 163 housing units).

Big monthly drops in foreclosure activity in many Florida metro areas resulted in only one metro area in the state with a foreclosure rate ranking among the top 10: Port St. Lucie at No. 10 with one in every 173 housing units receiving a foreclosure filing in November.

For more information, visit www.realtytrac.com.

Foreclosure Activity Decreases 4 Percent in October 2010, According to RealtyTrac

Fri, 17 Dec 2010 10:22:34 GMT

Foreclosure Activity Decreases 4 Percent in October 2010, According to RealtyTrac

RealtyTrac, a leading online marketplace for foreclosure properties, released its U.S. Foreclosure Market Report for October 2010, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 332,172 properties in October, a 4% decrease from the previous month and almost exactly the same total reported in October 2009. One in every 389 U.S. housing units received a foreclosure filing during the month.

“October marks the 20th consecutive month where over 300,000 U.S. homeowners received a foreclosure notice,” said James J. Saccacio, chief executive officer at RealtyTrac. “The numbers probably would have been higher except for the fallout from the recent ‘robo-signing’ controversy—which is the most likely reason for the 9% monthly drop in REOs we saw from September to October and which may result in further decreases in November.”

Foreclosure Activity by Type

A total of 100,575 U.S. properties received default notices (NOD, LIS) in October, a 2% decrease from the previous month and a 19% decrease from October 2009—the ninth straight month where default notices have decreased on a year-over-year basis.

Default notices were still up on a monthly basis in several states: Florida LIS were up 2% from the previous month; Ohio LIS were up 10%; and Illinois LIS were up 24%. Meanwhile, NODs decreased on a monthly basis in California (down 9% from the previous month), Nevada (down 17%), and Michigan (down 18%).

Foreclosure auctions (NTS, NFS) were scheduled for the first time on a total of 138,361 U.S. properties in October, a 3% decrease from the previous month but still a 6% increase from October 2009. Scheduled auctions decreased month-over-month in 26 states and the District of Columbia, while 16 states posted year-over-year decreases in scheduled auctions.

Lenders foreclosed on 93,236 U.S. properties in October, down 9% from the record high in the previous month but still up 21% from October 2009. Bank repossessions (REOs) decreased month-over month in 33 states and the District of Columbia, while 14 states posted year-over-year decreases in REOs. Including October, lenders have foreclosed on an average of more than 91,000 properties each month this year.

Nevada, Florida, Arizona post top state foreclosure rates

Nevada continued to document the nation’s highest state foreclosure rate in October, with one in every 79 housing units receiving a foreclosure filing during the month—nearly five times the national average. A total of 14,205 Nevada properties received a foreclosure filing during the month, a decrease of 13% from the previous month but an increase of nearly 3% from October 2009—the first year-over-year increase in Nevada foreclosure activity since September 2009.

Florida foreclosure activity increased on a year-over-year basis for the second straight month following five straight months of annual decreases, helping the state to maintain the nation’s second highest state foreclosure rate for the third month in a row. One in every 155 Florida housing units received a foreclosure filing during the month, 2.5 times the national average.

One in every 165 Arizona housing units received a foreclosure filing in October, the nation’s third highest state foreclosure rate for the third month in a row. A total of 16,538 Arizona properties received a foreclosure filing during the month, a decrease of 3% from the previous month but an increase of nearly 24% from October 2009—the second straight month where the state’s foreclosure activity increased on a year-over-year basis following seven straight months of annual decreases in foreclosure activity.

Other states with foreclosure rates ranking among the top 10 in October were California, Michigan, Utah, Georgia, Idaho, Illinois and Colorado.

Five states account for more than 50 percent of national total

California alone accounted for 20% of the national total in October, with 66,475 properties receiving a foreclosure filing during the month—a nearly 12% decrease from the previous month and a decrease of 22% from October 2009.

A total of 56,858 Florida properties received a foreclosure filing in October, the nation’s second highest state total and accounting for 17% of the national total.

With 19,288 properties receiving a foreclosure filing in October, Michigan posted the nation’s third highest state foreclosure activity total and accounted for nearly 6% of the national total. Michigan foreclosure activity decreased nearly 12% from the previous month but was still up 17% from October 2009.

Foreclosure filings were reported on 16,969 Illinois properties and 16,538 Arizona properties in October, with each state accounting for roughly 5% of the national total.

Other states with foreclosure activity totals among the nation’s 10 highest in October were Georgia (14,850), Nevada (14,205), Ohio (13,233), Texas (13,008), and Washington (6,346).

Top 10 metro foreclosure rates in Nevada, California and Florida

Foreclosure activity in Las Vegas-Paradise, Nev., increased less than 1% from October 2009 and the metro area continued to post the highest foreclosure rate among metropolitan areas with a population of 200,000 or more—one in every 70 housing units received a foreclosure filing during the month. Reno-Sparks, Nev., also documented a foreclosure rate in the top 10, at No. 9 with one in every 122 housing units receiving a foreclosure filing in October.

With one in every 96 housing units receiving a foreclosure filing in October, Cape Coral-Fort Myers, Fla., posted the nation’s second highest metro foreclosure rate for the month. Other Florida metro areas with foreclosure rates in the top 10 were Miami-Fort Lauderdale-Pompano Beach at No. 7 and Orlando-Kissimmee at No. 10.

Modesto, Calif., posted the nation’s third highest metro foreclosure rate, with one in every 102 housing units receiving a foreclosure filing in October. Other California metro areas with foreclosure rates in the top 10 were Riverside-San Bernardino-Ontario at No. 4, Stockton at No. 5, Merced at No. 6, and Vallejo-Fairfield at No. 8.

All top 10 metro areas posted month-over-month decreases in foreclosure activity, and seven of the top 10 posted year-over-year decreases in foreclosure activity.

For more information, visit www.RealtyTrac.com.

‘Tis the Season to Have a Renter’s Insurance Policy

Tue, 14 Dec 2010 09:56:54 GMT

‘Tis the Season to Have a Renter’s Insurance Policy

Christmas tree fires, which can tear through an apartment; burglaries, which spike when gifts are under the tree; and improper fireplace use can turn the most wonderful time of the year into a nightmare.

Many renters may not have renters insurance to cover fire damages or theft losses, while many of them are not typically covered by their landlord’s insurance policy. The costs of a quick break-in or small holiday fire can add up quickly: a shiny new iPhone4, a MacBook Pro, a 52″ HDTV and a decent shoe collection can easily add up to $25,000 to $50,000 or more.

“A holiday home or apartment fire is devastating,” says Jeffery Schneider, president of a New York insurance brokerage. “Without the right coverage, tenants lose everything.”

According to the National Fire Protection Association, heaters and radiators ignite 26% of Christmas tree fires. Decorative lights spark 23% of such fires, and burning candles account for another 14%.

Add in cooking-related fires, which can cause extensive smoke damage, and other mishaps and the holidays can be downright hazardous. “We have people trying to start wood fires in gas fireplaces every year,” Schneider adds. “Or the flue is shut and smoke fills the apartment or they incinerate the turkey.”

Beyond replacement of valuable goods, a renter’s insurance policy defrays the cost of other lodging if fire or smoke damage makes the apartment uninhabitable. Best of all, renters insurance is surprisingly affordable and makes a good gift for those folks who have great stuff but don’t appropriately protect it.

“For less than the cost of a latte a day, renters can insure their personal belongings and protect themselves against potential liability claims,” says Schneider. “The small investment can pay off handsomely if something goes wrong.”

HUD to Investigate Allegations of Discrimination Against African American and Latino Loan Seekers

Tue, 14 Dec 2010 09:50:16 GMT

HUD to Investigate Allegations of Discrimination Against African American and Latino Loan Seekers

The U.S. Department of Housing and Urban Development (HUD) announced that it is launching multiple investigations into the practices of certain mortgage lenders to determine if their home loan policies illegally deny qualified African American and Latino borrowers access to credit.

The investigations are in response to 22 complaints the National Community Reinvestment Coalition (NCRC) filed with HUD alleging that the loan activities of the mortgage originators showed that their home lending practices deny FHA- insured loans to African Americans and Latinos with credit scores as high as 640. Federal Housing Administration (FHA) guidelines allow mortgages to borrowers with credit scores above 580, provided the borrowers have down payments equaling 3.5% of the loan amount, or above 500, provided the borrowers have down payments equaling 10% of the loan amount.

“FHA is an important vehicle for Americans who want to purchase or refinance a home. We thank NCRC for bringing these complaints to HUD. For lenders to deny responsible home seekers this source of credit, without regard for their capacity to repay the loans, would raise serious fair housing concerns and, if proven, undermine our nation’s recovery efforts,” said HUD Assistant Secretary for Fair Housing and Equal Opportunity John Trasviña. “HUD will take appropriate action against any lender found to be engaging in discriminatory practices.”

Prior to the recent downturn in the economy, FHA-insured mortgages comprised less than three percent of new home loans. Since the economic crisis, FHA and the Government-Sponsored Enterprises have insured or guaranteed nearly 95% of new mortgage loans being originated. By the end of 2008, almost half of new home purchase loans and one quarter of new refinance loans were FHA or Veterans Administration (VA) insured.

According to NCRC, an association of more than 600 community-based organizations that promote access to basic banking services, their fair lending “testers” evaluated the practices of national lenders, financial services corporations, and other regional and local FHA-approved lenders. In the complaints filed on December 7, NCRC states that lenders were chosen according to their market share and volume of FHA loans, as well as through discussions with community leaders.

Under the Fair Housing Act, HUD impartially investigates allegations of housing discrimination and, during every phase of investigations, attempts to settle complaints through conciliation efforts.

FHEO and its partners in the Fair Housing Assistance Program investigate more than 10,000 housing discrimination complaints annually. People who believe they are the victims of housing discrimination should contact HUD at 1-800-669-9777 (voice), 800-927-9275 (TTY).

Little Things Mean a Lot – Before You Buy, Consider the Practical Fit

Mon, 13 Dec 2010 11:06:46 GMT

Little Things Mean a Lot – Before You Buy, Consider the Practical Fit

Short of deciding who you will marry, few decisions are more exciting than choosing your first home. Enough bedrooms? Check. Room for a pool? Check. Presumably, you have answered the large questions before submitting your bid. But before you get caught up in the buying process, here are some small practicalities to consider:

How will your furniture fit? Get the measurements of every room in the home and measure your larger pieces of furniture; the sofa, the bed, the computer desk or entertainment center. Sketch out the new room dimensions on graph paper so you can see at a glance how and where your furnishings will fit.

What about wiring? As we depend more and more on broadband, fiber optics and high speed access, check out what connections are already in place—especially if you are looking at an older home. Is it ready for digital cable, satellite, etc? If such services are not already connected, are they available to neighborhood residents?

What’s the noise level after dark? The neighborhood may seem quiet during the day, but is it near a freeway or an airport? Is there a fire station or a railroad crossing nearby? If quiet is important to you, you may want to visit at night or during rush hour and check out the noise factor as those planes, trains, and automobiles—and busy fire trucks—whiz on by.

How far to the nearest cup of sugar? If your dream home is in a new development, or in a rural section of town, how far will you need to go for a quart of milk at midnight? Is the local store open late? Are new shopping centers planned—and when will they be completed?

Do you know how HOA rules will affect you? If there is a homeowners association in place, will it approve your plans to put in a deck or spa? Read the binding homeowner documents and become familiar with rules and restrictions before you buy into the community.

Happy Holidays,

Nuvia

November Housing Scorecard Shows Continued Signs of Stabilization in House Prices and High Home Affordability

Wed, 08 Dec 2010 14:35:24 GMT

November Housing Scorecard Shows Continued Signs of Stabilization in House Prices and High Home Affordability

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the November 2010 edition of the Obama Administration’s Housing Scorecard (www.hud.gov/scorecard). The latest housing figures show continued signs of stabilization in house prices and high home affordability due in part to record low mortgage interest rates. The housing scorecard is a comprehensive report on the nation’s housing market.

“The Obama Administration has made significant strides in promoting stability for the housing market and the nation’s homeowners. Through a range of swift actions since we took office, we’ve seen millions more families able to stay in their homes and a steady rise in responsible borrowers refinancing their loans or becoming homeowners,” said HUD Assistant Secretary Raphael Bostic. “But, while we cannot stop every foreclosure, we know that more has to be done to reach homeowners in distress and to help unemployed borrowers. That’s why we’re continuing to focus on successfully implementing the programs we’ve put in place—such as neighborhood stabilization funding, additional assistance on refinancing and emergency loans to help unemployed homeowners—and ensuring that help is available to homeowners as early as possible.”

“The recent reports of problems in the foreclosure process underscore the importance of helping responsible homeowners avoid the pain of foreclosure,” said acting Assistant Secretary for Financial Stability Timothy Massad. “As we implement additional program enhancements to reach more homeowners, we continue to stress to mortgage servicers the importance of making every effort to enroll eligible homeowners in HAMP and provide meaningful alternatives to avoidable foreclosures.”

The November Housing Scorecard features key data on the health of the housing market including:

-An additional one million families refinanced their mortgages in the last quarter, taking advantage of the lowest rates in history on 30-year fixed mortgages. Since April 2009, record low interest rates have helped more than 8.3 million homeowners to refinance, resulting in more stable home prices and $15.2 billion in annual borrower savings.

-As expected with the expiration of the Home Buyer Tax Credit, new and existing home sales have remained below levels seen in the first half of 2010. At the same time, home prices remained level in the past year after 33 straight months of decline and homeowners added $95 billion in home equity in the second quarter.

-More than 3.73 million modification arrangements were started between April 2009 and the end of August 2010—more than double the number of foreclosure completions during that time. These modification arrangements included nearly 1.4 million trial Home Affordable Modification Program (HAMP) modification starts, more than 600,000 Federal Housing Administration (FHA) loss mitigation and early delinquency interventions, and nearly 1.8 million proprietary modifications under HOPE Now. While some homeowners may have received help from more than one program, the number of agreements offered were more than double the number of foreclosure completions for the same period (1.6 million).

Data in the scorecard also show that the recovery in the housing market continues to remain fragile. While the recovery will take place over time, the Administration remains committed to its efforts to prevent avoidable foreclosures and stabilize the housing market.

For more information, visit www.hud.gov.

Selling Homes With Pets

Wed, 08 Dec 2010 14:33:51 GMT

Selling Homes With Pets

Owning a pet, which six out of 10 U.S. households do, can be a problem for both sellers and practitioners seeking buyers.

Sellers with pets should do their best to eradicate pet odor. "Odor is the biggest obstacle,” says Trudy Severa, an associate with Long and Foster's North Hills office in Reston, Va. "Anyone who is sensitive or with allergies is going to be put off."

Pet hair is another turnoff for fussy people or those with allergies. A professional cleaning as well as frequent vacuuming can help.

It is also a good idea to remove the evidence of pet residents, including getting rid of dog doors, linoleum in unlikely places, even pet crates.

During showings it is smart to relocate pets because some potential buyers may find them objectionable, no matter how cute they are or where they are contained.

5 Tips for Selling Your Home Quickly In Todays Market

Tue, 07 Dec 2010 09:17:30 GMT

5 Tips for Selling Your Home Quickly In Todays Market

It’s one thing when someone says “Things are looking up,” but quite another when the numbers actually bear that out. Happily, the latter is the case, evidenced by the latest statistics that show that home prices may be stabilizing. Namely, national home prices jumped an impressive 3.6% in the past year, according to the S&P/Case-Shiller Home Price Index released in late August. Prices also climbed 4.4% in the second quarter, which contrasts with a 2.8% decrease in the first quarter.

This uptick in prices leads to a simple conclusion: Sell now if you can. And you certainly can. A fast sale, taking advantage of these numbers, is entirely possible, and can result in a lot of profit and a very happy client. But telling your client to “sell quickly,” without backing it up, can inspire fear and even ire. Instead, give them these methodical, easy tips to selling fast and successfully, taking advantage of a market uptick, without inducing panic or stomach aches.

1. Don’t raise the price. The uptick in home prices doesn’t mean that you should get all excited and raise the price. The trick is to leave your price the same as it was—that will encourage a bidding war. Hearing news about home prices going up, and raising your price immediately as a response to that, is typically not the way to go; the home will likely sell for more as a result of two buyers fighting over your reasonable price, rather than walking away due to a price that’s too high. Remember, the goal is ultimately to get more money, not to have a higher list price.

2. Remain flexible. Selling quickly means making some concessions—and we’re not talking price. It’s those little extras that may inspire a buyer to sign on the dotted line. Obviously, no one has the right to get your vintage grand piano in the deal. But if a buyer wants your stainless-steel fridge with ice-maker, give it up. There’s more ice waiting in your new home.

3. De-clutter. For a quick sale, you may not have time to fully “stage” your home down to the accent pillows and entirely new living room furniture. But you do have time to clear out the clutter. If we saw a home we’d like, we’d look past the clutter, but most buyers won’t. So, before you worry about making your home pretty, focus on making it neat. In a better market, neat is often all you need.

4. Schedule more open houses—and don’t attend your own. When you have a longer time frame for selling, you can schedule open houses at your leisure, but if you want to sell fast, try for as many open houses as you can—and do not attend them, as a homeowner at their own open house often makes a potential buyer too nervous to comfortably look around.

5. Go big—and go local. If you haven’t listed in MLS (multiple-listing service), it’s a good idea, especially if you want to sell fast. The math is simple—more eyes on your listing equals more potential bites. But a lot of people who use the MLS forget that local advertising is important as well. Advertising in local and regional publications—as well as simply putting the word out with friends and family—are often skipped, expecting that the Internet will get the job done on its own.

Foreclosure Freeze and What It Means for Hampton Roads Homeowners

Mon, 15 Nov 2010 10:29:45 GMT

Foreclosure Freeze: What Does it Mean for Hampton Roads Homeowners?

You may have heard that Bank of America, Ally Financial (formerly GMAC), and JPMorgan Chase have all temporarily suspended foreclosure proceedings to investigate possible problems with mortgage documentation. Bank of America froze foreclosures in all 50 states, but recently announced they will move forward in the 23 states that resolve foreclosures through their judicial systems. Ally and Chase have continued to halt proceedings in these states.

For homeowners having problems making mortgage payments, this may seem like tremendous opportunity to stay in their homes. All over the Hampton Roads Area, there are people who are under severe financial distress and do not know how or if they will be able to pay their mortgages. The unfortunate reality is that the foreclosure process will start again, and for those facing foreclosure, the real opportunity lies in the extra time to find better alternatives. The first step to take during this opportunity is to contact an educated real estate agent as soon as possible to learn about options.

For homeowners who owe more on their homes than what they’re worth and don’t what to do, I can help provide options and hope during this time of uncertainty. Together, we can take a proactive approach to a situation millions of Americans are facing everyday. We can use this extra time for developing a strategy to get past this time of distress, and move toward a brighter, more stable future.

Suggestions for Regular Home Maintenance

Tue, 26 Oct 2010 11:31:21 GMT

Existing Home Sales:Read Between the Lines

Tue, 26 Oct 2010 11:27:38 GMT

Noise.

There's an awful lot of it in today's report on September existing home sales from the National Association of Realtors.

Even the markets could hear the noise, as they didn't react all that much to the 10 percent jump in sales that completely beat expectations.

Yes, it was the biggest monthly gain in 28 years, but it was also the third worst sales month on record. This was thanks to the historic plunge in home sales in July, after what we first thought was the closing deadline for the home buyer tax credit.

September's data still has government stimulus in it, as it's showing the final closings from the tax credit. Thirty-two percent of home buyers in September were first timers and a whopping 29% paid in cash, which really gives you an idea of where the mortgage market is today. Sales were still 19 percent below September of 2009 levels, so that tempers the big gain as well. The median sales price also fell 2.4 percent year over year and is the lowest reading since March.

"Bottom line, the data is an improvement off a very depressed level."

Peter Boockvar
Miller Tabak

Even before today's number was released, analyst Mark Hanson predicted exactly what would happen:

"On a month over month basis, sales did not fall as much as usual due to tax-credit effects. The seasonal adjustments, which are minimal at best in September, and if accurate would have subtracted sales...Seasonally adjusting stimulus months has produced many a month of artificially high headline prints, which always lead to disappointment. And next month is no different. Due to the Sept. tax credit micro boost and Mortgage-Gate — the latter which jammed up the REO flow and kept 10s of thousands of foreclosure-related sales and short sales occurring — we will get a plunge, perhaps the likes of July."

If you take out the seasonal adjustments in September, there were actually 35,000 fewer home sales in September than August, or a 8.5 percent drop. We always use the seasonally adjusted numbers, because home selling is a very seasonal business, but you can't ignore the raw stats on this one. The most important number in this report, however, is that 35 percent of all sales in September were of "distressed" properties, or foreclosures and short sales. We all know a huge chunk of that goes away in October, thanks to the foreclosure servicing issues and resulting moratoria.

In a speech today before a conference on the future of housing finance, Fed Chairman Ben Bernanke said the Fed "is evaluating potential effects of these [foreclosure servicing] problems on the real estate market and financial institutions.

I think the answer to that is in today's home sales report. The housing market is looking at a rough road.

"Bottom line, the data is an improvement off a very depressed level," notes Peter Boockvar of Miller Tabak. "But with the robosigner, foreclosure moratorium taking center stage at the very end of September, which today's figure didn't capture and neither will Oct (this number measures closings), the figures towards year-end will look much different."

Feeling Trapped by Your Mortgage?

Feeling trapped by your mortgage?

Education is the Key

If you or someone you know feels like a prisoner to unaffordable mortgage payments, you should know that education may be the key to financial freedom. You have options available that can help ease the worry of making payments or losing your home to foreclosure.

To find out more about the options you have to choose from, download the free report I've created at the bottom of this page.

In fact, this entire website has been created exclusively for homeowners like you who need a trusted source for viable solutions to foreclosure.

If you have questions about the information you find here, or would like to get started in creating a plan, call me today.

The more proactive we are, the better chance you'll have in finding financial freedom and stability.

3 Reasons Your Home May Be Worth More Than You Think

How much is your home worth?

Today's real estate market is very different than it was a year ago. Prices have increased rapidly over the past 6-8 months. If you or someone you know has a home in which they owed more on their mortgage than the property was worth, that may no longer be the case. Or perhaps you've just been waiting the market out for prices to increase. Well, that time has arrived.

I have a report which explains in detail why prices have gone up and why your home might be worth more than you think! The report is entitled "3 Reasons Your Home May Be Worth More Than You Think," and I believe you'll be surprised by when you download and read the report. Once you are done, contact me today for a free market analysis.

Understanding HAFA

New Help Has Arrived!

The rising number of foreclosures in this country is simply too big to ignore. That is why a government-backed program has been released that aims at streamlining foreclosure avoidance options.

Short sales and deeds-in-lieu are dignified solutions to foreclosure, and now the government is making them easier, quicker and more accessible through the Home Affordable Foreclosure Alternatives Program, or HAFA.

With one in six homeowners struggling to make mortgage payments, you are not alone, and there are options available. With the free report provided here, find out if you qualify for the HAFA Program. Simply fill out your information below to get started on your new chapter of financial stability.

Please read this report to learn the facts, and contact me to begin your journey to a solid, stable tomorrow.

Avoiding Mortgage Modification Fraud

I Am An Agent Against Mortgage Fraud!

The last thing struggling homeowners need is to be victimized by fraud. Sadly, some people are preying on those who need help the most. Today, the real estate industry is the newest, biggest target for predatory schemes. In fact, the U.S. Attorney General, Eric Holder, stated that mortgage fraud cases are 400 percent higher than they were five years ago.

With nearly 1 in 6 homeowners unable to pay their mortgages, understand that you are not alone. Knowing your legitimate foreclosure-avoidance options is the best way to fight this terrible trend.

The report on this site will tell you how to avoid mortgage fraud schemes, as well as what solutions are available to you. Enter your information below and get the facts now!

Short Sale & Deed-In-Lieu

Contrary to what you may have heard, lenders actually want to avoid foreclosure wherever possible. That’s why they’re accepting more short sale and deed-in-lieu transactions everyday in an effort to eliminate unnecessary foreclosures. This is great news for homeowners facing financial distress.

To help you understand more about these two options, I’ve prepared a free report just for you, called ‘Short Sale & Deed-in-Lieu: Dignified Solutions.’ To receive your free report, please provide your information in the fields below.

I hope you’ll review these options carefully and pass this information along to those who may need it. I commend your efforts to finding a solution to the difficult financial situation that you or someone you know is currently facing. Providing the best advice and information in your time of need is my priority.

Let me help you evaluate your options and get you back on track to a secure financial future.