Walk Away?
DO NOT WALK AWAY!!! FIGHT FOR HOME!!!
I know what you are going through having lost two homes to foreclosure while fighting cancer in our only child. So I KNOW THE FEAR AND NEVER ENDING DEPRESSION AND STRESS YOU ARE GOING THROUGH! If you follow my three step recomundation there is a 85% chance you will never have to leave your home. Certainly not for a long time. After working with so many families who have been financially destroyed, terrified about when they are going to be thrown out of their homes, I know you just want to walk away. If you abandon your home you will allow the servicing bank, NOT THE RIGHTFUL OWNER, to take possession by just changing the locks. Not only will you still have the financial obligation of your mortgage, they will not have to prove that they had “standing” to have brought any foreclosure action in the first place, let alone collecting the payments. The banksters can stilll come after you for the debt that you may not even owe!
Before you walk away read below first!
Sometimes life deals hard blows. Job loss, illness, divorce, falling property values: all of these and more can destroy your ability to make payments. You’ve been knocked down today. You don’t have to stay down, but to get up and walk away…
You need to act fast…
They say in the mortgage industry that the worst possible thing they can see on your credit report is a foreclosure. It creates an even bigger mark against you than bankruptcy and can prevent you from owning another home for up to ten years after you walk away. So the first thing you need to do to get on your feet aquire the evidense you need to fight the banksters and attack them first make the the defendant.! We will work with you to gather more than enough evidense to fight them.
Two wrong ways… one right way
You could let it go to foreclosure…
Foreclosure is option…in fact, if you are in default it’s inevitable if you don’t act now. If you don’t make up your back payments, eventually someone will knock on the door and tell you the bank now owns your home. For some this is a chance to live rent and payment free for several months and put away some money for a deposit on a rental home. But again – the effect on your credit rating is dire.
In addition, you run the risk of a huge financial obligation that will follow you around forever after you walk away. When the bank sells your house at a loss because the market has fallen, they may be able to come back and sue you for a “deficiency” judgment….which is the difference between your mortgage balance and the dollars they collected from the sale of the house. If that is not bad enough the Bank will submit to the IRS a 1009a for the difference, tens of thousands of dollars, as income to you from them and you now have to pay taxes on all that money you never saw or benifited from the following April 15th! I’ll show you how to avoid all of this… but before that, let’s look at the other wrong way…
You could list your home for sale on a Short Sale…
This is a BAD idea. That’s right…I am telling you NOT to list your property for sale as a short sale…and I’m a real estate investor! Why would I say that? Well, the truth is that almost all short sale properties end up as a foreclosure anyway. It’s true! This is the dirty little secret that other agents won’t tell you, but it is the truth!
Short-sales fail for several reasons. The banks are unresponsive. Potential buyers get frustrated and walk away. The bank sets the price too high and is inflexible. If you have a second mortgage, they often interfere with the sale. Buyers don’t want to waste time dealing with the hassle of a short sale, so they walk away. The list of problems goes on and on……and that is why almost 90% of short sale properties end up as foreclosures! Again the deficiency judgement and the 1099a income tax liability can apply here also.
Instead, contact me. If your loan was orriginated prior to the 2008 bailout and was securitized you have an 85% of stopping your foreclosure permanently. In any case we can usually find enough wrong doing on all those that have come in contact with your loan to force them to the table. IT IS ALWAYS BETTER TO NOGOCIATE FROM STRENGTH! vs begging with your hat in your hand.
I look forward to hearing from you. APPLY NOW Mason Realtys Solutions