Real Estate Blog

If you are looking for home foreclosure help, you can do your own loan modification if you have the tools and know how. No matter how bad things seem, you have to step back and look at the situation objectively. First of all, the bank does not want your home. It is not because they care about your or your family or what happens to you. They truly are heartless when it comes to that; they just want the loan repaid. That is the business they are in.

If you go to them for help with foreclosure with a well thought out, well presented loan modification plan they will listen. They do not want to add another property to their already growing list of foreclosed properties.

Continue reading ‘Home Foreclosure Help – Do it Yourself With Expensive Attorneys Or Loan Modification Experts’ »

The pride of owning your own home is an American dream that for many people has turned into a nightmare. The stock market crash, business failures, loss of employment and endless other unfortunate events has led to the highest foreclosure rate this country has ever seen. If you have a pending foreclosure you need to know what your legal options are. There are several options available to you that you may not be aware of. There are even situations that can be defended due to the misconduct of the original mortgage broker or loan officer. Whether you want to save your home with a mortgage modification, sell it quickly, file bankruptcy or other options, we are here to help you.

Continue reading ‘Know the Options to Stop Your Foreclosure’ »

We often get the question “Can you stop a foreclosure with a forbearance agreement?” The answer is not a simple “yes” or “no” because it depends on the homeowner’s situation.

A forbearance agreement is a contract with conditions agreed upon between the lender and the delinquent borrower. The lender agrees not to immediately foreclose on the property while the borrower agrees to bring the loan current over an agreed upon amount of time. It provides for more time to repay the debt. This works well for those in temporary problems that have a foreseeable conclusion, but it is not for those with long term financial problems. It does not work well for those who are in crisis due to an adjustable rate mortgage. In that case, the loan needs to be restructured or modified by switching to a fixed rate or changing the loan’s length or interest rate.

Continue reading ‘How to Stop a Foreclosure With a Forbearance Agreement’ »

Our community of elderly, retired homeowners has become a veritable jackpot for predatory lenders. The longer a homeowner has been in his home, the greater the accumulation of equity. Families today move more often than their parents or grandparents did, making the older, retired generation the perfect potential victim of a predatory loan.

Many older homeowners view their home as an investment or savings plan for their future retirement. They look forward to the days of no more mortgage payments and to the profit they can retire on when selling their lifelong home. Predatory lenders look forward to this equity buildup as well because they seek to profit from it! Predatory lenders historically extend loans based on the value and equity in a home rather than the ability of the borrower to repay the loan. Couples on fixed incomes, in a financial bind, are coerced into accepting loans against their home’s equity without realizing the true costs of these loans. Predatory loans can include one or more of the following:
Continue reading ‘Seven Ways Predatory Lenders Cheat the Elderly’ »

We have all dreamed of finding a great home for a few pennies on the dollar. The process is easier than you may now believe. Finding a dream home for a bargain price requires that you evaluate hundreds of homes to find the opportunity of a lifetime. You must be efficient, using only accurate and current data. You must be willing to search daily and keep up with the market. Fortunately, online real estate firms provide all information you need at an affordable price. These firms enable you to perform all necessary evaluations from the comfort of your own home, quickly, diligently, and accurately.

If you try to perform market research yourself, you will save a few dollars the first day. Then you will waste weeks or months collecting data, making phone calls, wasting gas, and may never find a good prospect. Alternatively, you could try an online service that provides a full range of data and services. Most of the top real estate research firms offer trial evaluations of their products, free of charge. Many free trial offers last seven days, which is more than enough time to monitor all counties that interest you. Continue reading ‘Up to Date Foreclosure List – Your Key to Find a Dreamed Home’ »

With the economy sputtering to get restarted after the home mortgage meltdowns many cities are facing income shortfalls especially in the building departments where permits are almost non existent. To make up for the loss in income many cities have begun to target homes in foreclosure and bank owned homes. This becomes an issue for investors and home buyers alike when they purchase a property, then rehab it or occupy it and one day gets a yellow letter in the mail requiring city inspections for occupancy, fun!

More frequently than not local cities are scouring public records to find homes that are in foreclosed or bank owed state. It is really pretty easy for them to spot with all of the sheriff sales and delinquent taxes. Typically if they are vacant for 90 plus days they tag them putting them on their “hit list’ which will require the home to have a city inspection done before it can be occupied by a homeowner (see how they generate lost income). They wait and watch for it to sell to an investor or a homeowner. Many cities have actually hired personnel for just this position. Continue reading ‘Buying a Foreclosure Or Bank Owned Home? Check the Local City Ordinances’ »