Owner: Home Saver URL:http://homesaver-bef.blogspot.com/ Join Date: Thu, 27 Mar 2008 18:53:25 -0500 Rating:0 Site Description: Offering help and information for homeowners facing foreclosure and challenges making their mortgage payments Site statistics:Click here
McCain warns against hasty mortgage bailout 2008-03-26 16:02:00 McCain did not provide specifics about any immediate plans to deal with the crisis, saying he was "prepared to examine new proposals and evaluate them based on these principals."He also called for a meeting of the nation's top mortgage lenders, asking them to pledge support for customers and homeowners."Working together, they should pledge to provide maximum support and help to their cash-strapped but credit worthy customers," he said. "They should pledge to do everything possible to keep families in their homes and businesses growing."Presidential hopeful John McCain is asking the lenders to work with their customers. So give us the opportunity to save your home! Read the entire article here Read more:McCain
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Wave of Foreclosures 2008-03-25 12:17:00 A glut of foreclosed homes of historic proportions. . .Banks and others holding foreclosed property have concluded "we've got to move things" and are finally willing to slash prices, says Thomas Lawler, a housing economist in Leesburg, Va.This is great news. The lenders are finally getting it! They have to do what needs to be done now so that they don't get more foreclosures. Give me the opportunity to save your home. The lender doesn't want it they want your mortgage payment so let us negotiate a modification to get a payment you can afford. We''ll work to make it realistic using your current property value too!Read the entire article here Read more:Foreclosures
Making work-outs more difficult 2008-03-21 11:34:00 Lenders claim they want to help troubled mortgage borrowers stay in their homes. But the reality is that many foreclosure prevention counselors are running into lots of obstacles.The work-out she put together is a very good deal for the couple. The entire debt will be in a fixed-rate loan at 3.75% for five years. After that, Burks will work with them to refinance into a long-term, fixed-rate loan .In addition Burks succeeded in getting all fees and penalties waived.It does work, it just take some time and perseverance. Let us work with your lender and save you the hassle and will get a modification that can work for you!Read the entire article here
Cut Taxes by Getting Your House Reassessed 2008-03-20 16:38:00 Here's another way to save some money on your housing expense.Getting a reassessmentYour local government assesses properties on a set schedule, typically every several years or when the difference between assessed and market values reaches a certain level. (The rules vary from town to town.) But you can ask for a reassessment any time you feel the assessed value of your home is higher than its market value. Read the whole article here Read more:Taxes
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Brokers who lie, and more subprime nightmares 2008-03-20 13:16:00 "The problem is, the servicer doesn't have the power to renegotiate a loan," said Erin Kemple, the Connecticut Fair Housing Center's Executive Director. "Because they don't actually own the loan [they can't] make changes to the payment plan."This is not what we typically encounter. The lender/servicers DO NO WANT your home and DO WANT to work out an affordable payment plan. Please give us the opportunity to save your home for you! As I have stated before here & here. Don't rely on government agencies to help you when they have no stake in the outcome.With an apparent stalemate between lenders and borrowers, will people be forced to go into foreclosure or even to just walk away?"Yes," said Connecticut Fair Housing's Erin Kemple. "The simple answer is yes." Don't give up! As Donald Trump Read more:Brokers
Forestalling foreclosure 2008-03-19 17:05:00 2: Get a loan modificationTry to get a loan modification before you even miss a payment. This is probably the least onerous of the options out there, if you can get it. This is basically a change in loan terms.A modification will lower your monthly mortgage payment or let you skip a few payments. The bottom line here is that the term of your loan can be extended.To request a modification, call your lender and ask to be transferred to the loan modification department. Make sure you have some recent pay stubs, current or prior year W-2 forms, bank statements, property tax bills and insurance bills. If possible, obtain appraisal information for your home.And the process can be frustrating. It could take weeks. There is no doubt that you will be frustrated!"It's up to you to be proactive, pers
Can’t Grasp Credit Crisis? Join the Club 2008-03-19 12:59:00 This is a pretty good article that may help you understand what's going on and why.Raise your hand if you don’t quite understand this whole financial crisis. It has been going on for seven months now, and many people probably feel as if they should understand it. But they don’t, not really. The part about the housing crash seems simple enough. With banks whispering sweet encouragement, people bought homes they couldn’t afford, and now they are falling behind on their mortgages.Read the entire article here Read more:Crisis
U.S. Economy: Housing Starts, Permits Decline as Slump Deepens 2008-03-18 11:22:00 Home foreclosure filings jumped 60 percent and bank seizures more than doubled in February from the same month last year as rates on adjustable mortgages rose and property owners were unable to sell or refinance, according to RealtyTrac Inc., a seller of foreclosure data. Don't let this happen to you! We can help you by negotiating a modification agreement with your lender based on your current income and property value and get a monthly payment you can afford so that you can KEEP your home!You can read the entire article here Read more:Housing
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Hope Now: When loan workouts don't work out 2008-03-13 12:32:00 This article is in the same vein as my prior post.Many troubled mortgage borrowers end up in foreclosure, even after their lender has cut them a deal. Here's why.About 40 percent of all subprime ARM foreclosures that occurred during the three months ending September 30 involved owners who had already worked out some kind of deal with their lenders, according to a report from the Mortgage Bankers Association (MBA).And although Hope Now, the government-led alliance of lenders, mortgage servicers, investors and community advocacy groups, says it helped 545,000 subprime borrowers during the second half of 2007, 33% more people actually lost their homes than in the first six months of the year.As previously stated here, Home Saver Solutions negotiates with your lender for a long term solution.
HOPE Now January Report 2008-03-13 11:59:00 This article is from a Blog written by Academics, so there is no bias. This article is by Adam Levitin, you can check out his bio hereNow the bad news.Second, we don't know what these modifications look like. Are they sufficient? Servicers presumably want to make the minimum modification possible, which might lead to insufficiently modified loans. There's really no way of knowing. HOPE Now has not released data on the number of modifications that have failed. An older Mortgage Bankers Association report, however, shows that 29% of foreclosures are from failed workouts (modifications and repayment plans), which should at least make us concerned about modifications qualitatively.Based on the what he's saying here it appears that you can't count on getting the best help from Hope Now. They ma Read more:January
Number of US Homes Facing Foreclosure Jumps Nearly 60 Percent in February 2008-03-13 11:22:00 Nearly half of the homes on the most recent list had slipped into default for the first time.The latest data suggest many homeowners across the nation continue to struggle with mortgage payments, despite highly publicized efforts by government, financial institutions and consumer advocacy groups to modify loan terms or work out long-term repayment plans for troubled borrowers.Please please don't let this be you! Give me a call at IGS - Home Saver Solutions and let us do all the work for you. We will aggresivly negotiate with your lender to get a loan modification with terms you can afford!Read the entire article here Read more:Number
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Paulson says long-term economic outlook still good, but housing still big risk 2008-03-11 13:25:00 WASHINGTON (Thomson Financial) - US Treasury Secretary Henry Paulson
said today he still believes the long-term economic outlook for the US is still good, even as he acknowledged that turmoil in the housing market continues to pose the largest downside risk to the economy.Paulson also reiterated that the government is doing what it believes is best to help people avoid foreclosures, which is to encourage lenders to modify and rework loans for struggling borrowers who want to stay in their homes.This is where I and IGS can help you by negotiating with your lender to modify your loan to get a payment you can afford. I encourage you to call your lender and experience the frustration of dealing with them then give me a call we'll handle all the work for you to get that modification!Read the en
Money trouble? 2008-03-11 11:19:00 If you're having money problems, you probably have good reasons. Maybe you're getting less overtime or your expenses have unexpectedly climbed. Perhaps your ex left you with big debts.Make a plan -- and follow through. Pick some solutions and get to work on them. If you've fallen behind on your mortgage payments, for example, talk to a housing Counselor.As I've stated here previously, this would be me! As a Home Saver Counselor I can answer questions you have about what can be done to save your home! We (Infinity Group Services) can negotiate with your lender a modification agreement using your current income and property value to get a payment you can afford! Lenders see the value in keeping you in your home and not foreclosing on it. This works to our advantage when negotiating for you. Read more:Money
Bernanke Call for Mortgage Forgiveness 2008-03-06 12:02:00 March 5 (Bloomberg) -- Treasury Secretary Henry Paulson may need to revise his strategy for stemming record U.S. home foreclosures after Federal Reserve Chairman Ben S. Bernanke
urged lenders to forgive portions of some loans.(This is one of our major negotiation requests -asking for principle reduction- to get you a payment you can afford!)Bernanke's call, in a speech yesterday to bankers in Orlando, Florida, went beyond a Paulson-backed plan that focuses on renegotiating interest rates. With his remarks, the Fed chief joined the heads of the Office of Thrift Supervision and Federal Deposit Insurance Corp. and congressional Democrats in proposing stronger actions than Paulson to alleviate the worst housing recession in a quarter century. You can read the whole article here Read more:Mortgage
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When is it OK to walk away from your home? 2008-03-05 11:31:00 Writes Argonautica at Save Invest Retire: Foreclosure "is not a decision to take Lightly. If you are in trouble and thinking about doing this, make sure you thoroughly think through the ramifications and consult a professional to figure out the pros and cons you probably didn't think of on your own."This would be me, I could be your Home Saver Counselor and negotiate a loan modification agreement with your lender to get a payment that will fit with your current budget and help you keep your home!California-based YouWalkAway.com says its kit will enable you to stay in your home "for up to eight months or more without having to pay anything to your lender!" It also says: "With our money-back guarantee, you get it all for only $995." The list of services provided is stuff you can do on your o
Your lender doesn't want your house 2008-03-04 11:19:00 Most lenders will do almost anything to avoid foreclosureAnd if you take the advice we personal-finance types typically offer -- call the lender as soon as possible and ask for help -- you could find yourself stymied by the lender's bureaucracy or even told to come back when you are really behind in your payments.Home-loan expert Jack Guttentag has heard from several borrowers who were blown off by their lenders in this way."(The homeowners) got a response of, 'Don't bother us. Come back when you're two months behind,' " said Guttentag, who runs the Mortgage Professor site. This is the typical response most of our clients got when they attempted to contact their lenders themselves. Take the author's advice and contact me a "home counselor"!What actions you can takeGet help from a housing c
Borrowers Abandon Mortgages as Prices Drop 2008-03-03 15:23:00 "Every single person we talk to either owes 100% [of their equity] or is upside down anywhere from $10,000 to $300,000," says John Maddux, co-founder of YouWalkAway.com, which charges borrowers about $1,000 for advice. Mr. Maddux says the site has received more than 190,000 visits and about 20% of their clients are investors. Don't pay a $1000 for advice on how to loose your home. Contact me and I'll give you solutions to keep your home for only $1795.From this same article note what FANNIE MAE wants to do to people who just walk away from their homes: Some in the industry want to toughen the consequences for borrowers who walk away. Executives at Fannie Mae say they are working to create harsher penalties for people who walk away from mortgages, and they plan to pursue some borrowers in c Read more:Borrowers
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Workouts Grow to 9 Percent of Subprime 2008-03-03 14:06:00 The Hope Now group said Monday it helped 638,000 subprime borrowers from mid-2007 through the end of January, an increase of 93,000 from 545,000 a month earlier. That works out to 9 percent of 7.1 million subprime loans that were outstanding as of last fall, up from 8 percent through December.Critics say the effort, organized by Treasury Secretary Henry Paulson, falls short of what is needed to resolve a financial crisis that is threatening millions of families with the loss of their homes. (As I've stated before -don't loose your home while waiting for government to save you- Save yourself!!) They want a government-funded effort to buy up troubled loans and restructure them.Consumer groups say many borrowers still can't keep up, even after loan workouts. They say many of the borrowers in Read more:Percent
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Housing stimulus 2008-02-29 12:40:00 The tax-credit proposal is just one of the ideas floating around Washington to shore up the ailing housing market. The New York Times reported on Friday that several plans are being kicked around that would help homeowners who face trouble with their mortgage payments, especially borrowers who owe more on their mortgage than their home is worth, a situation known as being "underwater."The Times said some major financial institutions are pushing for the creation of a new federal agency that would buy up troubled loans and reissue them with federal guarantees, in some cases repricing the loans so homeowners would no longer be underwater. Another idea is to expand the Federal Housing
Administration's role in refinancing troubled loans. Read more.Don't loose your home while waiting for the gov
Donald Trump's Business Obsession 2008-02-29 11:13:00 "The biggest problem that I see in this country is that the bank will send, from a computer, a notice of default to a homeowner. And they'll say, 'Please leave the house in 10 days' and the homeowner doesn't know any differently. And they'll pack up their belongings from a house that they've lived in for 20 years and leave and they have no place to go. And it's a travesty."What should the homeowner do instead? Call up the bank and negotiate, (This is where I come in. We have a negotiation team that can do this for you and save you the headache and heartache of dealing with the bank's red tape!) Trump
says."If the bank is nice, they'll give them an extension, they'll give them lower interest, they'll cut something off the mortgage — they'll make it so it works," he said. "And if the bank Read more:Donald
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State Of California, DEPARTMENT OF CORPORATIONS 2008-02-27 16:46:00 Arnold Schwarzenegger: Governor, Preston DuFauchard: California
Corporations CommissionerDATE: SEPTEMBER 5, 2007-RELEASE No. 61-FS This Release encourages lenders and servicers of loans under the California Finance Lenders Law and the California Residential Mortgage Lending Act to provide appropriate workout arrangements with financially stressed borrowers, such as providing loan modifications and other workout arrangements. Follow the link and read the entire Release Read more:State
Home prices by city 2008-02-27 15:43:00 Declines during the fourth quarter erased earlier gains, pushing U.S. housing appreciation into negative territory for the year for the first time in 17 years, according to the Office of Federal Housing Enterprise Oversight. Follow the link and see how your area is doing.
Key home price index shows record decline 2008-02-27 15:19:00 After 14 years of rising price
s, the housing market is unwinding, taking victims from Main Street to Wall Street. Homeowners are losing their houses to foreclosures at an increasingly rapid rate as interest rates on home loans adjust higher and declining values eat into equity.Read the whole article here hereDon't let this happen to you! If you are currently in foreclosure or behind on your payments please contact me at 949-267-1654 and I can discuss options with you to save your home.
double bubble california compared to the united states vacancy rates up homeownership down 2008-03-31 14:47:00 Here is another good article that helps explain whats going on. Read it all hereCalifornia, the epicenter of the housing bubble is facing difficult times. It is becoming rather apparent that this housing bubble has the risk of causing a worldwide recession. It is hard to imagine until you look at the facts how this bubble got out of hand so quickly. The foreclosure problem is now hitting squarely on the state. Last month for Southern California over 30 percent of homes sold were distressed properties. This rate is only increasing and will put future pressure on prices on the downside since first, we still have record inventory and it is harder to get a home loan. The latter part, getting a home loan is harder and for the right reasons. Folks simply do not have the incomes to support the pr Read more:double
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Consumer bankruptcies jump 27% 2008-04-02 12:02:00 "Bankruptcies are rising due to the heavy burden of household debt and growing mortgage problems," said ABI Executive Director Samuel J. Gerdano. "We expect this trend to continue through 2008Don't let this happen to you! Call me today and let me negotiate a modification agreement for you with your lender to get a mortgage payment you can afford! Read more:Consumer
'Hope Now' Offers Little of Either 2008-04-09 14:32:00 The government's flagship program to give struggling homeowners relief from overwhelming mortgage payments has left hundreds if not thousands of callers frustrated by long wait times, lack of follow-up and relatively minor loan modifications that have failed to help.A story last week on msnbc.com generated hundreds of e-mail responses from readers who have called the heavily promoted hotline. Almost all the callers said they encountered a variety of roadblocks in their efforts to save their homes.I can GUARANTY you that I will not let this happen to you! I will not ignore you! I will negotiate aggressively with your lender get you the modification agreement you need to KEEP your home!Read the entire article here Read more:Offers
Pending home sales hit low in February 2008-04-08 11:31:00 An industry group said Tuesday that pending U.S. home sales fell in February
to the lowest reading since the index began, signaling the housing market distress is not yet over.With house prices falling and credit continuing to tighten, many economists say the housing market is likely to worsen in the coming months, though some remain hopeful about a recovery in the second half of the year.If your waiting and hoping things will change don't fool yourself. Do something today to help yourself and give me a call and let's get you on the way to saving your home!You can read the entire article here
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