Life can be unpredictable and circumstances change. If you are having trouble keeping up with your debts, for whatever reason, be pro-active and create a strategy to deal with it before you lose control to creditors and bad consequences occur. Let's team up to head off the disaster that seems inevitable, and salvage your credit & financial power.
We have several decades' experience in real estate and mortgage lending, and I can help you evaluate your situation, anticipate future consequences and outline your options, for FREE. First, let's be realistic about myths vs. realities in mortgage lending:
#1: Your lender does NOT WANT to own your home. Institutional lenders are not in the business of owning, managing and selling real estate. They DO NOT PROFIT from taking back your home. They incur major costs, liability, and reduced ratings (and value) in financial markets every time they have a failed note and take title to property. Profits from the sale, if any, are returned to you or your trustee if you have other creditors trying to collect.
#2: If you do nothing, your credit rating WILL BE SEVERELY DAMAGED for at least ten years. Your credit rating is important to you because it determines how much you will pay for nearly everything necessary to living a normal life and may prevent you from being able to rent or buy housing, vehicles, insurance and utilities for many years. If you are able to get a creditor to "take a chance" on you, they must charge you a premium rate to self-insure their risk.
#3: If you allow foreclosure, you will continue to be responsible for the entire debt plus penalties, even though you no longer own or control you home. This is painful and makes it fairly impossible to get credit for a long time. Many people think that giving back their property satisfies the debt, when in fact, your mortgage note remains in public records and on your credit report as unsatisfied. Giving back the home or allowing it to be taken merely removes the asset you could have sold or refinanced to satisfy, reduce or replace the bad debt.
Explore your options and TAKE ACTION -- it's your life! Give me a call me to talk about your assets, debts, income, short-term plus long-range hopes and plans. We'll figure out what is possible in terms of refinancing, reverse mortgage or re-structuring through debt consolidation (I'm an expert mortgage consultant who is not selling you a mortgage); borrowing against retirement or life insurance, selling other assets or planning a marketing blitz and auction to sell the real estate (asking the lender to give us 4 - 6 weeks to do so). If you have a favorite real estate broker, lender, attorney or accountant, we'll include them on the team to get it done.
TAKE ACTION TODAY FOR A BRIGHTER TOMORROW.
YOUR FINANCIAL SITUATION & DATA WILL BE KEPT CONFIDENTIAL. |