Coldwell Banker Residential Brokerage, Licensed in Arizona - Phoenix, AZ - (800) 736-2610 Linda Lightfoot Managing Broker - Martha Appel Designated Broker
UNDER WATER MORTGAGE ASSISTANCE
CONTACT US TODAY I Have A Question About Short Sales
If you are like thousands of homeowners who find themselves with a home mortgage balance that is greater than the value of the home, then you need to watch these videos.
CATCH UP YOUR MORTGAGE PAYMENTS
The Arizona Attorney General has funds that are available to qualified homeowners. These funds can be used to catch up and help re-instate mortgages that are delinquent by as much as $20,500. The Arizona Attorney General has additional funds, for qualifed homeowners, to help reduce the outstanding principal mortgage balance and may even be used to pay off second mortgages, up to $50,000. For qualified homeowners, there are even funds, up to $70,000, to affect a principal reduction of the first mortgage and refinance the outstanding balance into a 'fixed rate' affordable mortgage. If you would like more information about the Arizona Attorney General's Mortgage Relief Fund and how you might qualify for assistance, please eMail us at Lori@UnderWaterMortgageAssistance.info
If you have VA loan, you have incredible protections from your lender/bank when they agree to allow you to complete a short sale. If you are struggling to make your mortgage payment, there may be options available to you to avoid foreclosure.
If you are an active duty soldier, there are extended protections, from being sued by your lender, that you may not know about. For more information about VA Loans and VA Short Sales Lori@UnderWaterMortgageAssistance.info
If you have an FHA loan, and you find yourself faced with financial challenges making your mortgage payment, don't stress, there may yet be a way to restructure your FHA loan using HUD sanctioned Loan Modification protocols. And... even if you do not qualify for an FHA workout plan, there may still be options available to you to avoid foreclosure. For more information about FHA Loan Modification options or FHA Short Sales, also referred to as FHA PFS (Pre-Foreclosure Sales), eMail us at Lori@UnderWaterMortgageAssistance.info
FANNIE MAE & FREDDIE MAC LOANS (aka GSE LOANS)
Fannie Mae and Freddie Mac announced recently, a new effort called the "Streamlined Modification Initiative", borrowers with mortgages backed by Fannie Mae and Freddie Mac who are at least 90 days behind on payments will start receiving offers from lenders to lower their mortgage payments. READ MORE HERE. If you are interested in learning more about this, please eMail us at Lori@UnderWaterMortgageAssistance.info And even if you don't fit into this new initiative, and if you don't want to suffer the stigma of a foreclosure, there may be ways to salvage your ability to buy a home again, in as little as 48 months.
Click here to find out if your mortgage is owned by Fannie Mae
Click here to find out if your mortgage is owned by Freddie Mac
PROBATE and/or ESTATE SHORT SALES
All too often the executor or executrix of an estate can find themselves overseeing the disposition of a loved ones former home. Sometimes these homes are encumbered with mortgage balances that are far greater than the actual value of the home. It is always wise to listen to and act upon the wisdom and guidance of the estate attorney. We are available to the executor or executrix of any estate if the estate attorney sees logic in liquidating the real estate through the short sale process, regardless of the type of loan involved. If you or a loved one must liquidate an 'estate mortgage' through the short sale process, please eMail us at Lori@UnderWaterMortgageAssistance.info
ALL OTHER CONVENTIONAL LOANS
For those of you who have a conventional loan, that is... your mortgage is NOT owned by either Fannie Mae or Freddie Mac, there are still options open to you to avoid foreclosure, even if you are just weeks away from the sale of your home at a trustee auction. The "Making Home Affordable Program" or HAMP provides incredible opportunities to mitigate the financial damage, to homeowners who find it necessary to sell their home for less than the full balance of the mortgage, a process commonly known as a 'short sale'. If you would like more information about this process, please eMail us at Lori@UnderWaterMortgageAssistance.info
RELOCATION FINANCIAL ASSISTANCE
The short sale process can offer departing homeowners financial assistance to relocate to their next home. If the homeowner qualifies for and is approved for financial assistance, it is possible... depending on the short sale program used and assuming the loan is not a VA, FHA, USDA or IDA Bond, for the homeowner to receive anywhere from $3,000 upward to tens of thousands of dollars from the bank that approves the short sale. However that is not to suggest that the homeowner with a VA, FHA, USDA or IDA Bond loan is left out in the cold. A homeowner with a VA loan could receive $1,500 in relocation assistance and a homeowner with an FHA loan could receive up to $3,000 in relocation assistance for completing a successful short sale. New short sale rules went into effect on 10 January 2014 that add additional protections trying to save their homes through the 'loan modification' process and for consumers facing possible foreclosure. If you would like more information about any of these options, please eMail us at Lori@UnderWaterMortgageAssistance.info
Learn if you qualify for relocation assistance funding. Learn if you qualify for state assistance if you must short sell your home. Learn how a short sale could effect, may not effect or will not effect your security clearance. Learn what additional benefits have emerged EXCLUSIVELY to protect the military. Learn what the VA and FHA has to say about the short sale of a VA loan. CLICK NOW to check out some of the comments from just a few of our military family.
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