Underwater In Your Home or Facing Foreclosure, We can help
Declined for HARP; What do I do now? So, you have been through every lender there is and cannot secure a HARP refinance. What do you do now? If you are reading this you owe more than your home is worth. According to a Q1 2013 report form Corelogic, Arizona is running almost 30% of homes are underwater or in negative equity position. California is running close to 25%. The market has improved … [Read more...]
Are You Climbing Out of the Basement of Negative Equity? We have heard so much talk about the recovery in the Arizona and California market. Everyday some talking head is screaming "The market is coming back!" Back?!? Really? Back to what? Are you climbing out of the basement of negative equity? Over the last 5 years I have worked with over 6,000 homeowners who were upside down in their … [Read more...]
I want a principal reduction on my mortgage. I hear that everyday from prospective clients. I completely agree. I want those homeowners to receive one. A couple years ago, they were a figment of our imagination. Today, principal reduction has become more of a reality. Clients are beginning to see more of them. With housing prices in our markets going up and with the amount of negative equity … [Read more...]
Do you have an Arizona Zombie Mortgage? You have an Arizona Zombie Mortgage. Sometimes called a Zombie Foreclosure as in an article in the Chicago Tribune, original article here. There are many of these zombie mortgages in Arizona. Not as many as some states like Florida, but many just the same. They just will not die! The bank will just not foreclose. You are not making payments and it will not … [Read more...]
Do You Owe More Than Your Arizona Home Is Worth? Many homeowners are hearing the great news about lower delinquencies on mortgages and fewer foreclosures. But, you look at your own home and find out that you still owe more than your Arizona home is worth. What are you to do? First, don't call your lender. You see, your lender does not want to help you. They want to help whoever it is they are … [Read more...]
Price recovery in most housing markets will slow down Article in Housingwire today discussed that in some markets price appreciation or price recovery will begin to slow down, possibly even go backward. In Arizona, which has seen some of the greatest recovery as it was one of the hardest hit states, will see some flattening of pricing. "The data index reported that the markets with the strongest … [Read more...]
Fannie Mae Removes 'Ability to Repay' from HARP 2.0 Guidelines original article here Stated Income / No Doc comes back to lending. huh? I really want people to make good decisions, but this is nutts. Didn't we already make this mistake in the recent past? Harp 2.0 is starting to look allot like good old No Doc refinance. Sure it is good for the originator to get additional business, but … [Read more...]
Strategic Default In Arizona: What You Need To Know As more and more Arizona homeowners find themselves in a situation where they owe more on their home than their home is worth, strategic default is becoming more common. Simply put, strategic default is when you can afford your mortgage payment, but you elect to stop making it. Many times when the topic of strategic default is brought up, … [Read more...]
Scams, Schemes and Fraud in Real Estate We apologize for changing the order of these articles per the survey, but there was news about the FBI indicting 1215 people for mortgage fraud (51 in AZ) announced this week and we thought this article would be timely based on this new development in Fraud in Real Estate. FBI Indictments Mortgage Fraud up 400% More on … [Read more...]
