Avoid Foreclosure

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Should I Stay or Should I Go?

So, What Did The Bank Do To You?

If you have financial issues, you must do this:

  • Communicating with the Bank is Essential. There were many a day, that I would go into a families’ home to see stacks of bills lying on the kitchen countertop, unopened. Not a Good Thing.
  • Banks Lie Big Time. Get All Decisions from the bank in WRITING! Don’t be surprised if they do not want to do this.
  • Ultimately, you need to make decisions before it is too late. Whether you want to save the house, save your credit, or Obtain Cash for Keys, doing nothing will not stop the sale of the property.
  • How Often Should You Contact The Bank? Weekly. Most delinquent accounts are handled in “Loss Mitigation” or in the Bankruptcy Dept.. When calling you should have your Loan Number and your Assigned Single Point of Contact. Keep a Log Sheet with the Day, Time, Persons Name, Conversation Topic and Outcome of your Call.
  • “Sleeping With The Enemy.” Don’t Give the Bank Financial Information until you know what you are doing.
  • Email or Call us to receive your

“FREE Weekly Questions To Ask your Lender”

Donrossrealestate@gmail.com | 949-246-7876

Or better yet…We Can Contact Your Lender Together …FREE

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    What Did The Bank Do To You?

    Banks Lie Big Time…Get Everything in Writing!

    • Giving Your Financial Information to the Bank Is Not a Good Idea!
    • Sleeping With the Enemy (The Bank) is also Not a Good Idea!
    • Do You Want Relocation Money?
    • Do You Need Cash Now?
    • Who is On Your Side?
    • Who Can You Trust?
    • Save Your Credit!
    • Save Your Home!
    • Do You Know How to Complete the RMA? We can help for FREE!

    (Request for Mortgage Assistance)

    85% Of Home Owners Don’t Get A Loan Modification!

    4 out of 5 Homeowners are APPROVED Through The Don Ross Home Team

    FOR A FREE CONSULTATION CALL 949-246-7876

    Alternatives to FORECLOSURE

    What are your options when facing foreclosure?

    Try to look at the situation more from a financial standpoint rather than an emotional standpoint. Try to analyze which option might best suit your needs and desires to move you towards resolving your financial difficulty. Though time is of the essence, you should carefully evaluate all your options before making a decision. Once you decide, you must act quickly to make sure you have enough time to complete the solution you choose. Many lenders require you to decide 21 days before your foreclosure date.

    Nine Options When Facing Foreclosure

    DO NOTHING

    If you do nothing, you will most likely lose your home at a foreclosure auction.Loan applications generally ask if you have ever been foreclosed upon. Credit reports also disclose this damaging information. Usually not the best option.

    PAYOFF/REFINANCE

    Completely paying off your loan amount plus any default amount and fees. Usually this is accomplished through a refinance of the debt. New debt is at a normally higher interest rate and there may be a prepayment penalty because of the recent default. With this option, there should be equity in the home.

    REINSTATEMENT

    Paying the entire default amount plus interest, attorney fees, late fees, taxes, missed payments and fees.

    LOAN MODIFICATION

    Utilizing the existing mortgage company to refinance the debt or extend the terms of the loan. This may allow you to catch up at a more affordable level. To qualify, you must prove to the lender you have fixed the problem that caused the late payment.

    FORBEARANCE

    Lender may be able to arrange a repayment plan based on your financial situation. The lender may even be able to provide a temporary payment reduction or suspension of payments. Information will be required from the lender to show that you are able to meet the new payment plan requirements.

    PARTIAL CLAIM

    A loan from the lender for a 2nd loan to include back payments, costs, and fees.

    DEED-IN-LIEU OF FORECLOSURE

    Give the property back to the bank instead of the bank foreclosing. Banks generally require the home be well maintained. Most loan applications will ask if you have ever had a Deed-in-Lieu of Foreclosure

    BANKRUPTCY

    This option can liquidate debt and/or allow more time. We will refer you to a qualified bankruptcy attorney upon request.
    – Chapter 7 (Liquidation) To completely settle personal debt
    – Chapter 13 (Wage Earner Plan) Payments are made toward a plan to pay off debts in 3-5 years
    – Chapter 11 (Business Reorganization) A business debt solution

    SALE

    If the property has equity (money left over after all loans and monetary encumbrances are paid). You may sell the home without lender approval through a conventional home sale. In this case, you will receive cash from the sale. On the other hand, a Short Sale may be negotiated with your lender if you owe more than the property is worth.

    Need Cash Now?

    Are You Having Trouble:

    MAKING YOUR MORTGAGE PAYMENTS
    MAKING YOUR CAR PAYMENTS?
    FACING FORECLOSURE?

    At Don Ross Home Team, We Can:

    Save Your Home
    Save Your Credit
    Stop the Foreclosure
    Get You Relocation Money

    ALLOW US TO NEGOTIATE A LONGER FREE LEASEBACK

    GET $10,000 FROM THE BANK OR SELL YOUR HOME!

    FREE Avoid Foreclosure Help with Don

    *CALL FOR DETAILS

    949-246-7876
    DonRossRealEstate@gmail.com
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