4 Common Ways to Avoiding Foreclosure

Posted by webmaster on Jan 25, 2012 in Foreclosure | 0 comments

There are a number of ways homeowners can stop a foreclosure. Consequently, it’s ludicrous for people to continue thinking that losing their home is completely unavoidable and the only option because it’s not. A little information and motivation can go along way.

First, there are no magical solutions to stopping a foreclosure. Second, what’s presented is not an exhaustive list–only the most common options for homeowners who want to keep their home. And third, avoiding your lender is absolutely the worst thing you can do. Let’s begin with a few options that will help stop a foreclosure:

1. Re-Negotiating the Loan – This option to stop foreclosure requires the homeowner to borrow against their equity in order to pay the past due amount. Oftentimes, your monthly mortgage payment is less than before, but it all depends on the terms of your loan. In most cases, refinancing is not an option because lenders typically will not refinance a loan that’s not current. However, always verify with your lender. Perhaps, they are offering a special program at the time.

2. Loan Modification – This option to stop foreclosure allows you to change the terms of your loan. For example, taking the past due amount and merging it with your existing loan, adjusting your interest rate, adjusting other loan terms, or changing your monthly mortgage payment are examples of modifying the terms of your loan. Modifications are changes that are made to your loan without having to refinance.

3. Developing a Payment Plan – Requesting a repayment schedule to stop a foreclosure involves creating a new payment schedule whereby you continue making your regular monthly payments plus a little extra on the amount that is past due. The payment plan is usually for a specified amount of time from several months to several years.

4. Forbearance – When a bank grants forbearance to the homeowner, which is another option to help stop foreclosures, it temporarily suspends your monthly mortgage payment. The lender grants this if theirs the ability to increase your payment at some time in the future when you are financially stable. The increased amount is usually a portion of the past due amount. This is beneficial for you and the lender because it stops the foreclosure as well as allows the lender to collect delinquent payments over a period of time, instead of demanding full payment at the time of delinquency.

In summary, there are several alternatives a homeowner can take to stop a foreclosure while keeping their home. Whatever the chosen option, act quickly and respond promptly to every correspondence from the lender.

Avoid Foreclosure Hell eBook is for immediate download at http://www.HelpStopTheForeclosure.com It is an excellent resource for solutions to stopping foreclosures.

CP Howard is the co-founder of MaxCap Realty, which is a real estate company assisting buyers and sellers with brokerage, consulting, and investment services. He is a licensed real estate broker, consultant, mentor, and teacher in real estate and finance, as well as an REO Broker in the St. Louis metro area.

Website: http://www.MaxCapLLC.com

Article Directory: EzineArticles http://ezinearticles.com

For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.

Are You Curious About Tax Ramifications In Doing A Short Sale?

Posted by webmaster on Jan 25, 2012 in Uncategorized | 0 comments

Hello, I’m Kevin Kauffman. I am part of Group 46:10, one of the nation’s leading short sale and real estate teams based right here in Phoenix. Are you having trouble making your mortgage payments or are tired of being underwater on your mortgage? We at Group 46:10 can provide you with different options to alleviate some of these issues. As one of the leading short sale businesses in the nation, we’ve finalized over 500 short sales in the past 4 years and have a success rate of over 90%.

I’m here today to talk to you a little bit about short sales and tax ramifications. One of the issues that we hear quite often from prospective clients is that they would like to short sell their home, but are worried about the taxes they’ll have to pay after the sale. Maybe you have heard from others that have done short sales that there were some tax liabilities and would like to find out more.

The Mortgage Debt Relief Forgiveness Act, which expires at the end of 2012, permits homeowners, such as yourself, to not pay taxes on the forgiven amount if the house is their main residence and the selling price is less than $2.5million. If you’re thinking about short selling your house, you need to act quickly because the transaction has to be closed by the end of 2012 in order to qualify for The Mortgage Debt Relief Forgiveness Act.

Please give us a call or fill out the form on our website, group4610shortsale.com, to find out more about this act or if you have questions about your particular situation. If you do not qualify for this act, don’t let that stop you from short selling your propety. We have a few other ways to avoid paying taxes as well. A practiced short sale specialist, such as myself and my business partner Fred, can discuss those different options with you.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.

Watch Kevin and Fred, Short Sale Specialists, on the Short Sale Power Hour. Video for Short Sale Specialists.

What Are Your Short Sale Options?

Posted by webmaster on Jan 24, 2012 in Uncategorized | 0 comments

Hello, are you contemplating a short sale but you are not quite certain of what your options are? Well, my name is Kevin Kauffman and I am part of Group 46:10, Phoenix’s premiere short sale crew and Phoenix’s premiere short sale team. I am here to tell you that you do have options and I’d love to talk to you about them. My group and I have closed over 500 short sales in the last 4 years. We’re here to help you so in case you want any help, whether or not you might have an FHA loan or perhaps you’ve received a VA loan, we are able to help. Possibly you are unsure as a result of there are completely different guidelines around FHA and VA loans in comparison with loans with your typical credit union or with Bank of America or Wells Fargo.

Come to the specialists and get a free consultation with us. We’d love to talk to you about what your options are. We’ve worked with each financial institution out there. We have worked with over 100 banks. We have handled Fannie Mae and Freddie Mac, and FHA and VA, and anyone and everybody in between and we know that we will help you.

So please give us a call today. You can reach us at 480-449-6642. You too can fill out a form here on our website. In case you’re not on our website, you possibly can go to us at Group4610shortsale.com. Right here you can get your free short sale decision calculator results as well as request an in individual meeting. We would love to speak to you about your options and if a short sale is best for you, we’d love to help you. Thanks so much and have an excellent day.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.

Watch Kevin Kauffman and Fred Weaver of Group 46:10, Short Sale Specialists, on the daily Short Sale Power Hour.

Are You Mulling Over Strategic Default?

Posted by webmaster on Jan 23, 2012 in Uncategorized | 0 comments

Hi, have you been considering strategic default? I am Kevin Kauffman and I’m part of Group 46:10, the top short sale team in Phoenix. I am here to tell you that you have options if you’re considering strategic default. More specifically I want to talk to you regarding the actual consequence of strategic default as it pertains to the amount of money that it will take you to do it.

My business partner, Fred, and I have designed a tool named the Short Sale Decision Calculator to help people like you find out whether or not a strategic default is best for them. If you click on the link below or visit our website, group4610shortsale.com, it’ll take you to a website where you will be shown the value of your home and ask you to input your interest rate, the unpaid principal balance on your loan and your monthly payment. By entering in this information, we will provide you with a report that will demonstrate how long it will take for the value of your home and the amount you owe to be the same, as well as the amount of money it will take to get you to that point. This free report will provide you with the information you need to determine whether or not strategic default is the right decision for you or if you should do a short sale.

Should you decide a short sale is the best decision for you, we would love to help you out. We have completed over 500 short sales in the past few years and have over a 90% closure rate. Please either visit our website or call us today so we can set up a free consultation. Group 46:10 can help you avoid foreclosure, get out from your underwater mortgage and successfully short sell your home, so please contact us today.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.