SAVE YOUR HOME
Dear Homeowner,
If you have not already started working with a Real Estate Foreclosure Specialist please consider the following reasons why you should.
I specialize in the following areas:
1. SHORT SALES
- A short sale prevents the Foreclosure from targeting your current credit report and credit history. It will allow you to quickly rebuild your credit and purchase a home in the future without destroying your credit.
- Banks/lenders accept a short payoff on the amount owed to them. This loss is deferred from taxable income for principal residences under the Mortgage Forgiveness Act of 2007 H.R. 3648. It is extended to December 31 2012. It allows a Federal Income Tax Free cancellation of debt income from qualified principal residences indebtedness, which is the debt that was used to acquire, build, or improve the tax payer’s principal residence and that is secured by that residence.
2. LOAN MODIFICATIONS
- There are 3 types of Loan Modifications/Restructuring options available to homeowners.
A. Conversion to fixed rate loan (if you are on an Adjustable Rate Mortgage ARM or Negative Amortization loan NEG AM or an Interest Only loan I/O it is converted to a 30 year fixed rate loan)
B. Resolution of past due payments (payment plan is made for derogatory payments to your lender)
C. Interest rate reduction (rates can be reduced down to nearly 1%)
- The loan modification process can take up to 90 days to be completed, during which time the lender issues Forbearance on the property. Forbearance issuance can stop the foreclosure proceedings on your property, which will allow us to work with your bank/lender to find a workable solution to keep you in your property. This process can also take you out of foreclosure and put you into the forbearance period, during which time, the bank/lender wills halt any foreclosure proceedings or sheriff sale dates.
If you or anyone you know is interested in speaking with me directly please feel free to contact me directly via phone or email. I am here to help you through your stressful situation.
Email: Ken@OffsiteRealty.com
Direct: 612.749.4141
Fax: 1.800.450.1094
