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Archive for the ‘Foreclosure Information’ Category

US Treasury encourages Short SalesUnder the plan, borrowers will receive $1,500 from the government for selling homes for less than the amount of their mortgages. Mortgage-servicing companies will get $1,000 for each completed short sale. Second-mortgage holders can receive up to $3,000 of the sales proceeds in exchange for releasing their liens. Investors who hold the first mortgage can collect up to $1,000 from the government for allowing the payments.

Borrowers who complete a short sale under the program must be “fully released” from future liability for the debt, according to the guidelines.  The program does not take effect until April 5, 2010, but servicers may implement it before then if they meet certain requirements.

Click Here to read more on the article from Realtor.org

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Mortgage Modification
Is your dream of Home Ownership fading away?

Is your dream fading away to the possibility of Foreclosure? This is a great article by Rismedia  about the process of Mortgage Modification and the many pitfalls and misinformation that is out there. Click Here to find out more about the process and what you need to do to get started on the road to dicovery. The most important thing to take away from the article is you need to have a plan of action and gathering the right information is the first step.

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Prime fixed-rate mortgages continue to be the driving force for foreclosures and represent 33% of the foreclosures started in the third quarter. Read more about it in this Article from the Mortgage Bankers Association. Click Here!

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Foreclosure Home

In this article published by Kimberly Miller of the Palm Beach Post, Florida is leading the Nation in Foreclosures with Banks taking back 12.74 % of the states mortgages. That is more that 1 in every 10 homeowners that are in default and the number is rising. To read more of this article, click here.

” If you continue doing the same thing, you will continue getting the same results ”

You are not alone and there is help available to you. Call us at 305-408-9200 for a discrete consultation to discuss your situation.

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