I WANT TO HELP YOU AVOID FORECLOSURE!

Part of my business in helping people avoid foreclosure is calling homeowners who have received Notices of Default ("N.O.D.s") or Notices of Trustee Sales ("N.O.T.s") and try my best to explain to them what I can do for them, often completely free of charge. Often I hear the response, "ok, I'll get back to you." I stress the importance of taking care of the problem as soon as possible- the relief one feels knowing the problem is being worked on by someone else on your behalf is SO POWERFUL, my clients have told me.

And yet I still hear it- people think that by avoiding the problem it will go away. IT WON'T GO AWAY. Going through my list last night I noticed another person I have spoken to and who told me, "ok, I'll get back to you" had been foreclosed on. The bank had sold their home to an investor, who promptly told them to leave, put their house for sale, and is selling it at a decent profit. The homeowner now has a foreclosure on her credit score, and was probably kicked to the curb with nothing. If she allowed me to assist her, not only could I have enabled her to stay in her home many more months (because the banks take so long with the short sale approval process), I could have also probably negotiated her to be PAID by her bank! My recent clients have received $3000, $5000 and over $7000 to short sale their homes through me. I have been able to also keep them in their homes an additional 8 months, 6 months and 11 months! So, please, with all sincerity, PLEASE let me discuss with you your options. I can probably help you in your current situation. I have spoken to hundreds of homeowners, and only a few didn't qualify for a short sale. I can short sale any home in California. The most important factor in successfully selling a short sale is an agent who is strong and experienced in negotiating with banks. We know what it takes to deal with Bank of America, Countrywide (now BofA also), Wells Fargo, Washington Mutual/Wachovia (now Wells Fargo also), Chase, Citi, GMAC, Credit Unions, Ocwen, Quality Loan and dozens of others. We know what is expected and how to talk to the negotiators, so you don't have to! Keep in touch with your bank if you like, but let ME deal with the talks that cause headaches.

IF YOU ARE IN CALIFORNIA, I CAN HELP YOU! IF YOU ARE IN ANOTHER STATE, WE CAN REFER YOU TO ANOTHER POWERFUL SHORT SALE AGENT THROUGH OUR NETWORK! LET TODAY BE THE DAY! LET ME HELP YOU!

I strongly believe that a SHORT SALE is your best possible option if you are dealing with a frustrating mortgage! I have seen it liberate so many people and set them on the path for better home ownership, conquering debt and relieving much of the stress that was in their life! For a FREE consultation to see if a SHORT SALE or a LOAN MODIFICATION is right for you, do not hesitate to CALL ME at 661-706-6922!

Short Sale Now- Buy A House Again Sooner and For Less Money Than You Currently Owe

Why should you consider a short sale? What is in it for you? What do you gain out of a short sale?

Well, it's pretty simple. If you short sale now, you could potentially buy a house again sooner than if you were foreclosed on, and you would be able to buy that home for less than what you currently owe on your home right now (which is NOT currently worth what you owe- remember?).

Let's think about this and sincerely consider it for a moment. Let's use an example of a home that was sold as a short sale for $217,000. The owner owed $348,000. The owner can potentially requalify to buy a home again in 2 years (with a conventional loan) to 3 years (with a FHA loan). Let's assume the house he sold at $217,000 went up in value 5% per year for 3 years. This would be FAST appreciation, especially in this current market. After 3 years of fast appreciation, the home would appraise for about $251,000. He could buy the same exact home for $97,000 LESS than what he owed. Or he could buy a home with 1000 more square feet, plus more amenities, for maybe $265,000? That is still over $80,000 LESS than what he owes. Do you see the benefit now?

What if he was foreclosed upon? He wouldn't be able to purchase a home again for approximately 7-10 years, according to current guidelines. In seven years at the same appreciation rate the house would appraise at $305,000. Ten years would be $353,000. Either one of these options, except waiting 10 years, is less than what he owes. But let's consider purchasing a similar home in this hypothetical situation 3 years after his short sale, compared to 7 years after his foreclosure. The same home would cost him $40,000 MORE after a foreclosure than a short sale. Considering it another way, he would LOSE $40,000 IN EQUITY if he DID NOT SHORT SALE!

If he considered a loan modification, at this fast appreciation, he would be looking at about 7-9 years JUST UNTIL HE BREAKS EVEN and is no longer underwater. After 7-9 years, he could sell his home and make zero profit from the sale.

PLEASE CONSIDER WHAT IS BEST LONG TERM! LET'S TALK AND SEE IF A SHORT SALE IS BEST FOR YOU!

I strongly believe that a SHORT SALE is your best possible option if you are dealing with a frustrating mortgage! I have seen it liberate so many people and set them on the path for better home ownership, conquering debt and relieving much of the stress that was in their life! For a FREE consultation to see if a SHORT SALE or a LOAN MODIFICATION is right for you, do not hesitate to CALL ME at 661-706-6922!

Let Housing Lead The Economic Recovery

Considering the depth of these debates and the months of political advertisements in this campaign, it is discouraging that there has not been a serious discussion about housing. As leaders, you ignore housing at our peril.

Dear President Obama and Governor Romney,

Let housing lead the recovery.

We have just witnessed the last of three presidential debates in anticipation of elections now just 2 weeks away. Considering the depth of these debates and the months of political advertisements in this campaign, it is discouraging that there has not been a serious discussion about housing. As leaders, you ignore housing at our peril.

Although the economy is recognized as the single most important issue in this campaign, and housing is commonly blamed for the recession and sluggish recovery, it is unimaginable that relevant solutions to housing issues have not been front and center. Over 3.5 million homes have been foreclosed on in the last four years, another 3 million are likely in the next four, one in 213 homes had a foreclosure filing in the third quarter, and over 10.8 million homes remain underwater with mortgages greater than their market value.

Housing has always led the country out of the dark days of recession, but that has not happened this time. Still, housing does have the ability to promote a stronger overall recovery if it is allowed to do so. But it will take real political leadership in the White House and Congress to acknowledge this fact and take the appropriate steps.

It has been a long and painful road for homeowners and real estate professionals alike, but market performance in recent months has everyone feeling a bit more optimistic. Prices are rising and many underwater homeowners have received a lifeline. But we’re not on solid ground just yet. Significant obstacles remain on the road to recovery.

Simple steps would quickly increase home sales by another 700,000, create over a quarter of a million jobs and deposit millions of dollars into the economy. So, what are the obstacles?

One aspect of the fiscal cliff you have not discussed is the Mortgage Forgiveness Debt Relief Act of 2007, which is set to expire on December 31. If not extended, this has the potential of immediately reducing home sales by as much as 20%. Troubled homeowners who meet the qualifications for a loan modification or short sale are not likely to pursue either of these options if the remaining mortgage balance is considered taxable income.

Many of us in real estate have long been promoting the short sale as a viable alternative to foreclosure. In 2012, short sales began to shed their reputation as a cumbersome and time-consuming process, and their numbers have been steadily increasing. This helped reduce foreclosures and kick-start a struggling housing market. Now, the transaction that serves as salvation for many families facing foreclosure will come to an abrupt halt.

The CBO says a two-year extension will save distressed families about $2 billion. The average debt forgiveness in a short sale is $65,000. How are these struggling families going to pay taxes on this amount? Without debt relief they will eventually be forced into bankruptcy or foreclosure. What will the associated costs to society be then?

In normal times, most of us would never consider forgiving unpaid tax bills, but these are not normal times. It is more important for our country to get housing on a solid footing, put people back to work and have an economy that everyone can be confident in again. Just like a debt relief policy that is more appropriate to another place and time, unrealistic lending standards are also slowing the recovery.

Even with improving home sales, nearly 15% of sales contracts are falling through. This is largely the result of strict lending requirements. Obviously, we’re obsessed with fighting the last war. Today’s lending requirements may have prevented the housing crisis five years ago, but the pendulum has swung too far in the opposite direction. Otherwise creditworthy individuals are being denied or too intimidated to apply for a home loan.

Financing appears to be getting more difficult, not less. In August, the average FICO score of a rejected mortgage application at Fannie and Freddie was 734, two points higher than one year ago. And the average down payment of a rejected applicant was 19%. Historically, these are numbers that would seem like a solid lending risk, but for some reason that’s not the case today.

Additionally, requirements in the Dodd-Frank Consumer Protection Act that would unreasonably define Qualified Mortgages will certainly have the unintended consequences of making mortgages more difficult to obtain and perhaps add to the cost of financing a home. Even the authors of this legislation have said this was not their intent. Our message to you is simple, “first, do no harm.” Do not disrupt the ability of a fragile housing market to positively impact a stalled economic recovery at this critical time. Housing is a powerful economic engine that can easily add a large number of jobs and cash to the overall economy if it is not prevented from doing so.

The Debt Relief Act must be extended, reasonable lending standards established, housing-specific provisions of Dodd-Frank re-examined, and the mortgage interest deduction untouched. These steps will build a solid foundation, restore confidence, and provide clarity to lenders and relief to troubled homeowners. Take these simple steps and watch housing lead the country to real recovery, as it has many times in the past.
President Obama and Governor Romney, you still have time to detail your vision. For many Americans, housing is still a crisis and they are anxiously waiting for solutions.

David Liniger is Co-Founder & Chairman of the Board at RE/MAX. The opinions expressed here are his own. Article from HousingWire.com

I strongly believe that a SHORT SALE is your best possible option if you are dealing with a frustrating mortgage! I have seen it liberate so many people and set them on the path for better home ownership, conquering debt and relieving much of the stress that was in their life! For a FREE consultation to see if a SHORT SALE or a LOAN MODIFICATION is right for you, do not hesitate to CALL ME at 661-706-6922!

Hire A Certified Foreclosure Prevention Specialist

People are losing their homes left and right. It's not just you. It's your neighbor, teacher, co-worker, nurse, check-out lady, pizza delivery guy, maybe even your pastor or doctor! And they don't have to. There are options. I know you are feeling uneasy. I know you don't like answering your phone. Please let me help you. You don't want to call your bank? I understand. Let me and my team do it for you. We have training and experience. We have procedures and strategies. We know what it takes to get short sales and loan modifications successfully completed. Call us today! We'll give you a confidential consultation over the phone (free of charge) to see what the best option would be for you. WE CAN HELP! So please let us help you!
We can handle anyone in California, and we can provide referrals to other experienced agents in any State in the Nation. Call Mike Towers at 661-706-6922 and let's get you moving!

Freddie Mac: New short-sale guidelines are win-win for everyone

SHORT SALES ARE BECOMING EASIER AND EASIER TO GET DONE ON BEHALF OF DISTRESSED HOMEOWNERS. CONTACT US TODAY SO WE CAN HELP YOU IN POSSIBLY AVOIDING FORECLOSURE!
The GSEs new short-sale guidelines take effect Nov. 1. HousingWire invited Ryan McGuinness, senior servicing policy analyst at Freddie Mac, and Simone Beaty, operations policy director at the GSE, to discuss what servicers and borrowers can expect when the new standards hit.

New short sale guidelines from Fannie Mae and Freddie Mac are designed to prevent deceptive transactions that pop up in times of distress when servicers and borrowers are negotiating short sales, representatives from Freddie Mac said in an exclusive webinar with HousingWire.com.

The new Federal Housing Finance Agency short sale guidelines take effect Nov. 1, prompting HousingWire to invite Ryan McGuinness, senior servicing policy analyst at Freddie Mac, and Simone Beaty, operations policy director at the GSE, to go in-depth on what servicers and borrowers can expect when the new short sale guidelines hit.

The guidelines were launched to streamline short sales while also giving servicers the power to expedite the process of identifying qualified borrowers, so they can smoothly transition into a short sale when needed.

McGuinness said the new FHFA process also will educate homeowners about their options for short sales. For example, if a borrower acts in good faith on a short sale, Freddie will not pursue deficiency, and may provide up to $3,000 in relocation assistance.

Freddie is confident the new guidelines will help root out fraud.

Since the threat of short-sale property flipping can undermine the GSEs' approach to helping distressed borrowers, all short-sales transactions are required to be arms-length deals, McGuinness and Beaty pointed out during the webinar.

Short-sales flipping occurs when a party buys a short-sale and sells it for a profit the same day, McGuinness explained. The arm's length transaction requirement is in the guidelines to prevent this type of practice. Arm's length transactions are defined as deals between parties who are independent of each other and not related by either family, marriage or commercial enterprise, McGuinness and Beaty said.

The webinar also broke down the new powers delegated to servicers in the short-sale process. A replay will be available on this page by Friday, October 26.

Servicers will have the authority to approve a standard short sale for borrowers who are 31 days or more delinquent and borrowers who are less than 31 days delinquent as long as they are facing a hardship.

If a borrower is less than 31 days delinquent and facing a hardship like divorce, death, disability or military change of station orders, servicers can submit short sale recommendations to Freddie Mac, the webinar hosts said.

HousingWire routinely hosts webinars to give our readers a more in-depth look at the many changes impacting the mortgage servicing space.

Written by Kerri Ann Panchuk at HousingWire.com

How Long Until My House Is No Longer Underwater?

You know you can't sell your home for what you owe on it right now. But values are going up. How long until your home is worth what you owe, so you could sell it? Find out for free! Enter your home information and find out how long in number of months until you are no longer underwater!

RealtyTrac: 65% of housing markets worse off than in 2008

THIS IS WHY IT IS STILL CRITICAL TO CONSIDER A LOAN MODIFICATION OR A SHORT SALE! WE CAN HELP! 

RealtyTrac measured five key housing metrics in 919 U.S. counties and discovered the majority are still suffering from falling average home prices, unemployment, and higher foreclosure inventories, foreclosure starts and distressed sales.

Sixty-five percent of U.S. housing markets studied by RealtyTrac are worse off than they were four years ago, according to the Irvine, Calif.-based real estate research firm. The results of the survey arrive the same day as the final presidential debate and just weeks before the general election.

RealtyTrac measured five key housing metrics in 919 U.S. counties and discovered the majority are still suffering from falling average home prices, unemployment, and higher foreclosure inventories, foreclosure starts and distressed sales.

Of those counties studied, 580, or 65%, showed results in three of the five metrics as being worse off when compared to 2008 levels. Only 315, or 35%, of the counties had three of five housing metrics with improved performance over four years time.

"The U.S. housing market has shown strong signs of life in recent months, but many local markets continue to struggle with high levels of negative equity as the result of home prices that are well off their peaks. In addition, persistently high unemployment rates are hobbling a robust real estate recovery in most areas," said Daren Blomquist, vice president at RealtyTrac.

"While the worst of the foreclosure problem is in the rearview mirror for a narrow majority of counties, others are still working through rising levels of foreclosure activity, inventory and distressed sales as they continue to clear the wreckage left behind by a bursting housing bubble."

In the majority of the counties studied, home prices are down and unemployment rates are up in more than 90% of the areas. More than half have smaller foreclosure inventories and fewer foreclosure starts than in 2008, while distressed properties make up a smaller share of overall residential sales when compared to four years ago.

Article by Kerri Ann Panchuk from HousingWire.

California Loan Modification and Keep Your House Sale!

Do you want to keep your house but are behind in your mortgage payments? Would you prefer to not do a short sale? There's hope for you! Utilize our experience and do a LOAN MODIFICATION. If you are approved, the bank will redo your loan terms and bring your account current! The process to do so can be frustrating and complicated to some, so use us to get it done! We have negotiated with banks on numerous deals helping California homeowners just like yourself. Even better, our cost to do a loan modification is drastically LESS than many others! We have heard people charging $6000 to do loan modifications. Crazy! We only charge $3000 for one loan, $3500 for two or more loans. We can do a loan modification for ANY homeowner in California! Call or email us today!

661-706-6922 or miketowersrealty@gmail.com

SPECIAL: RIGHT NOW, WE ARE OFFERING $1000 OFF OUR FEE! DON'T HESITATE! SIGN UP TODAY BEFORE THIS OFFER EXPIRES! YOU DON'T PAY UNTIL AFTER WE SUCCESSFULLY MODIFY YOUR LOAN!