San Diego Short Sales

• The U.S. Dept. of Housing and Urban Development (HUD) offers an online guide to preventing foreclosure.  The guide provides consumers with information such as how to contact a housing counselor; when and how to talk to their lender; how to find foreclosure resources; tips on avoiding foreclosure and foreclosure scams, as well as information for consumers who cannot keep their home.  The guide to preventing foreclosure is available at http://www.hud.gov/foreclosure/.
• If you are experiencing financial hardship and having difficulty staying current with your mortgage, our attorneys will provide a FREE legal consultation without obligation.
• Our attorneys have negotiated countless short sales and loan modifications for troubled homeowners. All files are managed by licensed real estate attorneys, NOT contract negotiators.
• Learn more about mortgage relief options and how to take advantage of our FREE REALTOR (R) /ATTORNEY CONSULTATION.
• Several foreclosure alternatives exist for a homeowner who is experiencing a financial hardship.  There are pros and cons to each so it’s critically important to have an experienced loss mitigation professional consult on the best course of action.
• Loan Modification-A Loan Modification is a written agreement between the homeowner and their mortgage company that permanently changes one or more of the original terms of the note to make the payments more affordable. Loan modifications can include one or more of the following terms:

•    adding missing payments to the existing loan balance
•    converting an adjustable-rate mortgage into a fixed-rate mortgage
•    extending the numbers of years you have to repay
•    forgiving principal owned, AKA "principal reduction" (occurs in only 1.8% of loan modifications)

• Forensic Loan Audit
  Many loans funded during the "boom" years of 2002-2006 were performed with legal violations. Although only a fraction of the loans were funded with blatant disregard for the law, the majority of loans have significant State and Federal violations resulting from carelessness, greed or just innocent oversight by the lender and/or broker. The audit is an extensive and thorough examination of loan documents that borrowers signed when they secured a mortgage loan.  If there are "predatory lending" violations, attorneys may employ the violations as leverage with a lender to expedite a loan modification or short sale.
• Short Sale
  A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. Learn more about Short Sales.
• Deed-in-Lieu
  A Deed-in-Lieu allows homeowner to transfer your property voluntarily to their lender and their debt or deficiency is often forgiven.  The borrower is immediately released from most or all of the personal indebtedness associated with the loan.  The borrower avoids the notoriety of a public foreclosure and may receive better terms than a formal foreclosure.   AKA "Friendly Foreclosure."  Caveat Emptor: if Junior Liens are not resolved properly under DIL procedure, there will be a "cloud on title".
• Bankruptcy
  Bankruptcy to stop foreclosure is possibly the least-understood and least-desired option for most homeowners, although it can provide them with the last chance they need to be able to save their homes. In foreclosure situations, filing bankruptcy will put the entire foreclosure process on hold, which is very important for homeowners when the situation is getting out of control and they are running out of options at the last minute. When a foreclosure auction is approaching, and there is no other way to stop the Trustee Sale, filing bankruptcy will immediately put everything on hold, including putting off the sale of the property.  But it's only a temporary "pre-foreclosure" strategy at best.
• Free Consultation with County Properties

National bank and thrift servicers implemented more than 680,000 home loan modifications and payment plans in the third quarter of 2009, a 69 percent increase compared with the second quarter, according to a report released by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS).

The percentage of current and performing mortgages declined for the sixth consecutive quarter to 87 percent of the servicing portfolio, serious delinquencies rose to 6.2 percent, and foreclosures in process surpassed 1 million mortgages, according to the report.  Serious delinquencies at the end of the third quarter increased to 3.6 percent of prime mortgages, an increase of 20 percent from the previous quarter and more than double a year ago.

Other findings from the report included:

• More than half of all modified loans re-defaulted within six months of modification, with re-default defined as 60 or more days delinquent or in foreclosure.
• Servicers implemented nearly 274,000 trial plans under the administration’s “Home Affordable Modification Program” (HAMP) during the third quarter. 
• Servicers implemented nearly twice as many home retention actions as new foreclosures.
• More than 80 percent of the loan modifications in the third quarter reduced monthly principal and interest payments.

At County Properties 23 years of brokerage experience and trust! We offer free counseling in real estate re; home values and information on options of selling vs Foreclosure.  If you have equity in your home, we will sell your home and get top dollar in this challenging market.

If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also and close escrow in 45 days or less. Learn more about mortgage relief options and how to take advantage of our FREE REALTOR (R) /ATTORNEY CONSULTATION.

Please feel free to contact me today for free counseling at (619) 301-0200 visit our website, click  CountyProperties.net

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.

Are any of these making you toss and turn at night, affecting your everyday life? We have a streamline, easy way to help you thru these troubling times.

• Mortgage Payment Adjusting Up

Income Going Down

County Properties, a full service Real Estate Company, has teamed up with a Real Estate Attorney Group who specializes in negotiating short sales and loan modifications with lenders.

HOW THIS BENEFITS YOU

FREE Consultation with an Attorney and one of our Agents, at the end of the consult you will understand the likely hood of being able to do a Loan Modification and what your options are.

Below are a few of the things the attorney can do for you, if you should have to do a short sale.

ü A forensic loan document inspection designed to uncover RESPA, TILA and other violations.

ü Substantially more leverage that comes from the threat or initiation of litigation .

ü A detailed financial cost/benefit analysis that illustrates a short sale is a substantially  less 

expensive alternative to the lender than foreclosure.

ü High likelihood of negotiating reduction or elimination of the deficiency.

ü A much faster response from the lender due to escalation resulting from legal representation.

ü Identification of important or damaging legal issues at the earliest possible opportunity (deficiency judgments, tax implications, fraud, etc.)

ü Minimized damage to credit and the ability to borrow in a fraction of the time vs. foreclosure

ü Routinely close short sales in less than 60 days!

Please give us a call TODAY for a free consultation, so we can begin to help you TOMORROW. Call us at: (619) 301-0200 we are easy to talk too. We'll keep the conversation and your situation in our strict confidence. If you prefer, contact us by filling out the form stop foreclosure now.