Undergoing the hardships and stress of losing your home can be overwhelming. There are a number of options to consider no matter which direction you choose…
Some important things you should be prepared to avoid if you find yourself considering foreclosure…beware of foreclosure scams:
*Scam artists often target homeowners who are struggling to meet their mortgage commitment or anxious to sell their homes. Recognize and avoid these.
*Research HUD…get assistance from a HUD-approved housing counselor is free.
*Beware of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan.
*Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
*Never make a mortgage payment to anyone other than your mortgage company without their approval.
Research your options. Discuss loan modification with a qualified loan modification expert. Get pre-qualified to see if loan modification is right for you. If you do not meet the lender’s criteria for loan modification, then short sale is probably a good option to consider. Retain the services of a real estate agent who specializes in listing short sales. An experienced agent will take control of the situation and deal with the lender directly, thus removing the stress away from the homeowner. Selling your house short will do less damage to your credit than letting your house go to foreclosure. Under Fannie Mae and Freddie Mac guidelines, when you foreclose on a home, you will not be able to qualify for a mortgage for seven years. If you do a short sale, the time frame decreases to three years.
Before you make a decision that can potentially make a major financial impact on your life, it is important to understand the basic principals of loan modification, short sales, and foreclosure…due your due diligence…do your research…Empower yourself.
Tags: credit,
delinquent,
Empower,
fannie mae,
Foreclosure,
freddie mac,
HUD,
loan,
Loan Modification,
Mortgage,
Real Estate,
scams,
Short Sales
Being an entrepreneur has given me a deep appreciation for individuals who are success oriented and never give up. The drive to always “push through” is a trait of successful people.
I have been fortunate to associate myself with many successful individuals over my life. It began with my father who instilled in me the ability to step outside of the box…to create something out of nothing. He taught me the importance of integrity in business...traits that I have incorporated into the various business models I employ.
I spent the first ten years of my career in the medical field. I worked side by side with amazing individuals who put their own self-interests aside in order to nurture others back to good health. Many times I witnessed life and death situations. It was always humbling to experience the team-work that evolved around trying to save a lives.
As my career path evolved into the business world, not only could I bring those experiences into my persona, I saw a need to spread information…real information for real situations. A close friend of mine began to mentor me in aspects of blogging. He has given me incredible insight into how a blog should be developed…how to focus my passion for helping mentor people to becoming successful entrepreneurs. This passion for mentoring others began when I was a young child and continues today. It is not about me, but rather those who have influenced my life.
I am a work-out addict and a real “ski dog”. Sorry guys and gals…I do not “ride”. I live for deep powder and steep chutes. I love the feeling of looking over the edge of a steep run…feel my heart beat faster with that adrenaline rush and then “jump in”. I love golf…but I always wonder if I will ever break 100…lol! Most of all, I love my wonderful family…they are the best! Thanks for stopping by and I hope you feel empowered today.
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Martin Casper
