4 Common Ways to Avoiding Foreclosure

Posted by webmaster on Jan 27, 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

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

Are You Worried About Tax Ramifications With Your Short Sale?

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

Hello, I am Kevin Kauffman. I'm part of Group 46:10, one of the nation's best short sale and real estate businesses based right here in Tempe. Are you having trouble making your mortgage payments or are tired of being upside down on your home loan? We at Group 46:10 can offer you different options to alleviate some of these issues. As one of the leading short sale teams in the country, we have finalized more than 500 short sales in the past 4 years and have a completion rate of over 90%.

I'm here today to discuss short sales and tax ramifications. One of the concerns that we hear quite often from potential customers is that they would like to do a short sale, but are concerned about the taxes they will have to pay after the sale. Maybe you've 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 ends at the end of 2012, allows homeowners, such as yourself, to not pay taxes on the forgiven amount if the property is their main residence and the selling price is less than $2.5million. If you are thinking about short selling your property, 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 call us 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 don't qualify for this act, don't let that keep you from short selling your home. We have a few different ways to avoid paying taxes as well. A qualified short sale expert, 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

Hi, are you contemplating a short sale but you're not quite certain of what your choices are? Well, my name is Kevin Kauffman and I'm part of Group 46:10, Tempe's premiere short sale crew and Tempe's premiere short sale team. I am here to tell you that you just do have options and I'd love to talk to you about them. My staff and I've closed over 500 short sales in the last four years. We're here to help you so if you happen to want any assistance, whether or not you may have an FHA loan or possibly you've got obtained a VA mortgage, we are able to help. Perhaps you are unsure as a result of there are different rules 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 experts and get a free session with us. We'd love to talk to you about what your choices are. We've worked with each bank out there. We've worked with over 100 banks. We've handled Fannie Mae and Freddie Mac, and FHA and VA, and anybody and everyone in between and we all know that we will assist you.

So please give us a call today. You possibly can reach us at 480-449-6642. You can also fill out a form here on our website. For those who’re not on our web site, you possibly can visit us at Group4610shortsale.com. Here you will get your free short sale decision calculator outcomes as well as request an in person meeting. We would love to speak to you about your options and if a short sale is right for you, we would love to assist you. Thanks quite a bit and have an awesome 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.

Selling Your Home Through a Short Sale Now Could Save You $500,000 Over the Next 30 Years

Posted by webmaster on Jan 24, 2012 in Short Sale Arizona - Phoenix - Queen Creek | 0 comments

Like many families, particularly in San Diego were we live, we've watched our equity slip away over the last 2 years. Thousands of homes are over $200,000 upside down, and with the change in economy mortgage payments become unaffordable. What to do??

A loan modification is attractive for many people because of the emotion attachment to the house and the financial saving of reduced mortgage payments that can be obtained with a loan mod. But it still locks you in a negative equity position for years to come.

What if I told you that financially it will cost you about a half a million dollars just to hold that home instead of selling it through a short sale?

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