Help for Upside-down Home-owners

It’s not easy, but even people who’ve been turned down for loan modification or refinancing several months ago, might now be eligible for loan modifications. Please beware! There are so many scams out there that you should always remember that anything that sounds too good probably is. You should also never give anyone money up front! There are several new pieces of legislation that are making it possible to refinance as much as 125% of a home’s value. If you’d like to learn more, get FREE help from federally certified counselors at 888-995-4673 or visit www.995hope. Two other reputable resources are:
http://www.makinghomeaffordable.com/index.html
http://www.hud.gov/foreclosure/index.cfm

Short Sale is an Alternative!
If you do not want to refinance or can’t refinance, but you can’t keep up with payments, a short sale is a far better alternative than a bankruptcy. A bankruptcy is not easily overlooked on your credit history. You DO NOT want one. A short sale, on the other hand, will show that you skipped payments, but will eventually show your mortgage as a SATISFIED LIEN. It will be far easier to recover your credit worthiness if you short sale. I’ve had customers and friends frantically put every other part of their finances in jeopardy in attempts to make payments as long as possible. I’ve seen people cash in IRA’s (and face insane tax penalties), liquidate other assets, max out credit cards and more, only to eventually run out of ways to hold on to a house that is completely upside down. In the end, they lose the house and find themselves in much greater financial peril. While a short sale should not be done lightly, don’t think that anyone will give you an award for trying so hard first. On the contrary, you can kill your credit and your assets and wind up far worse for your efforts. If you look at your resources realistically and weigh them against the cost of keeping your present home and come up short, you should act sooner rather than later. During the time that you are not paying your mortgage, you can save that money to help with the expense of moving and possibly even help settle other debts as well. If your short sale is handled well, there will not be too many months of payments that are missed before your debt is settled. It’s not what anyone hopes for, but it’s a decent fresh start. If you think this might be the best option for you or someone you know, please contact me with the utmost confidence that you will be in honest, diligent, and competent care.