Posts Tagged ‘i want to avoid foreclosure in california’

I am excited for what the year 2013 has to bring, but for a moment, Realtors knew serious change was imminent. The Mortgage Debt Relief Act of 2007 had expired on December 31, 2012. More setbacks for “upside down” homeowners were expected. For example, homeowners that did not complete a “short-sale”, prior to the mentioned date, could anticipate a change in after sale tax consequences.

Suddenly, great news arrived! In early January, with all the fiscal fiasco, a revived miracle happened. U.S. Congress extended the Act of 2007 for one more year. In other words, December 31, 2013 is the new expiration date of this Act. Many current homeowners that still need to complete a short-sale could use the many benefits it offers for a distressed homeowner.

If there was ever a good time to put a home up for sale, it is in 2013. With experts such as, KCM Crew, from Holbrook, New York, projecting 3-3.5% appreciation nationwide on home values, and increase of bank cooperation with homeowners and Realtors, things are looking better for the real estate recovery.

First, what is a short-sale? CDPE (Certified Distressed Property Expert) training says, “A short sale is, and occurs, when a negotiation is entered into with the homeowner’s mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then ‘sold short’ of the total value of the mortgage and foreclosure is avoided.” A question many still have, “How do I know if I qualify for a short-sale, and will this Act of 2007 still benefit me?”

If you, a friend, a family member, or a neighbor owes more on your home than what it is currently worth, here are some recommendations. First, share you specific situation to a certified and trained Realtor who understands the short-sale process. Second, become informed of all of your options. Third, with help of your certified and trained Realtor, decide the best option for you and take massive action until completed.

We realize that homeowners have many questions. Here are some helpful things you can do right now. If you or someone you know is wondering if they qualify for short-sale; qualify for a possible $3,000 assisted relocation money; need better understanding of this extended Mortgage Debt Relief Act of 2007; or, if you were told in 2012 you couldn’t do a short-sale, but still have nagging suspicion you were misinformed, then please feel free to download right now our FREE reports at http://www.BeatBankRepo.com for immediate answers.

Last, we will be hosting a FREE Pre-Foreclosure Solutions Seminar for homeowners on Saturday, January 26, 2013 at 11:00am-12pm in Hesperia, CA. Please call right now our FREE voice-recorded line to RSVP at, 1.866.476.1677 Ext. 01753. As always, feel free to connect with me personally at: www.JoinDNA.com. If this article helped you in any way, please share it with a loved one. The more you give, the more that comes back to you.

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We all have been at fault about this home depreciation effect, whether done intentionally or unintentionally. “So how is a silent neighbor currently depreciating my home,” you may be wondering? Let’s take a closer look at the foreclosure effect.

Silent neighbors depreciate your home value because every home that goes into foreclosure and is resold by the bank,  further drops your home value and neighborhood value. From the moment a homeowner misses their first mortgage payment, is foreclosed on, and all the way to a sheriff’s eviction, on average, that distressed homeowner shared their hardship with at least one neighbor. What is the response of most neighbors to their distressed neighbor’s problem? “When they foreclose on you, if you need help on moving day, just let me know.” That is a sincere help, but sincerely the wrong kind of help. While that distressed homeowner’s neighbor meant well in his approach to help, it still didn’t help stop the foreclosure, and from depreciating your current home value.

As a rule of thumb, any home that forecloses within a half to one mile radius from your home, and has similar features, square footage, and so forth, it will have an impact on your current home value. When foreclosed homes go on the market, they sell anywhere between 70%-90% below market value, while some short sales actually sell at current market value, or close. In most cases, it is obvious that a foreclosure sale damages your home value more than a short-sale. Asset Plan USA recognized that bank foreclosures cost the bank more in time and money, and is not a win-win for neither the bank or the foreclosed homeowner.

So what are solutions to a distressed real estate market still in recovery? Out of about ten solutions that exist, here are the two most commonly exercised, and will help not devastate your current home value; a loan modification (About 20% applicants are approved.) or a short sale. The third solution is you. You are also another solution to this recovering real estate market. How? By not being a silent neighbor yourself, and proactively finding out who in your neighborhood is going through a hardship where foreclosure is eminent. As a proactive neighbor, you can immediately introduce them to a real estate agent with the appropriate certifications and market knowledge to help your neighbor avoid the pain of foreclosure, and not devastate your current home value.

The faster we help each homeowner in hardship, the faster we can begin experiencing a healthier real estate market. Instead of judging our neighbor’s situation, lets get into curiosity, and be of help in a time of need. Feel free to obtain a FREE report about “Loan Modification Secrets” at: http://www.beatbankrepo.com/Loan-Mod-Secrets.aspx or just call us at 760.596.9856, and we will forward it to you. One last thing, go see your neighbor, and share this article with them, because you are helping them avoid foreclosure and uphold your home value.