Wednesday, September 10, 2008

"We can Stop Foreclosure... let us help "

Can't Make Your Mortgage Payment?

CALL (954) 793-7974
We Can Help!
Quick Fact:
A loan modification will take the mortgage you now have and change the interest rate and payment requirements in order to achieve a better payment. A change in rates and payments does not result in the need for a new closing, legal fees, appraisal, or taxes.
Click The Contact Us or The Free Consultation Tab On The Left to get started!
www.LoanModificationFL.com will work on your behalf to get you and your family some much need relief and peace of mind!
Getting a loan modification
www.TheLendingChest.com and www.LoanmodificationFL.com will work for you!

Foreclosure is something that can happen when you get behind on your Mortgage Loan. Your lender won't automatically put you into a program to bring your loan up-to-date. You must put the plan into motion and provide the lender with the documentation they require to analyze your financial situation to stop the Foreclosure action. Although lenders do not want to foreclose if it can be avoided, they do want to make sure you can follow-through on any promises you make to bring your account current.
Mediation is the key to Stopping the Foreclosure. As we stated before, the Mortgage Company does not want to Foreclose and is usually willing to agree to terms to Stop Foreclosure. These terms are negotiable and it is to your advantage to develop a plan of action before contacting them. This plan needs to be thoroughly analyzed before presenting it to them as it becomes very difficult to adjust it. We have extensive experience in this area and we can develop a winning strategy or plan for you to Stop the Foreclosure that is proven successful.
Proven Plan for Stopping Foreclosure
1. You need to come up with some amount of money to apply to the deficiency. We typically refer to this as the “Contribution Figure” or a "Good Faith Payment". This will usually be somewhere between 35% - 50% of the total amount that is required to bring the loan completely current. With the clients we help, we typically see this number between 25%-30%. The Mortgage Companies always require this money as a down payment for a number of reasons:
To bring the loan current quicker
To prove to the lender that your are sincere in wanting to get the loan caught up. They also need to use this as a penalty to getting behind. If they didn’t they would have a lot more people missing payments without legitimate reasons.
2. You need to document your current financial situation to show that you can afford the Monthly payments. This is very tricky… you need to be accurate and honest as they may not accept changes once it is submitted. We develop a Personal Financial Portfolio for each of our clients. This shows your income versus your expenses in a form that is easy to understand and highlights your ability to repay the loan.
3. The last step is to develop a letter that explains why you fell behind. This letter is referred to as the “Hardship Letter.” We have many examples of letters that the Mortgage Company is looking for. This letter must be honest and appeal to them to show that you want to stop the foreclosure and that you deserve another chance.We roll all of these items into what we call a “Work-out Package”. This package is then presented to the Mortgage Company in a format they can easily understand which allows them to make a decision quickly and responsibly.Most Mortgage Companies will consider a Loan Modification, Deferment, Forbearance or a Repayment Plan as a first option to quickly bring the loan current. Our foreclosure specialists will use one of those options or perhaps a combination of those or any of the options below to develop your personalized strategy to stop Foreclosure.

Save your home and your credit

What exactly is bankruptcy?
Bankruptcy is a federal court process designed to help people eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as "liquidation" or "reorganization."
Will filing for bankruptcy protect me from creditors' efforts to collect what I owe?
When you file bankruptcy, an "automatic stay" goes into effect. The automatic stay prohibits most creditors from taking any action to collect the debts you owe them unless the bankruptcy court lifts the stay and lets the creditor proceed with collections.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
In Chapter 7 bankruptcy, you ask the bankruptcy court to discharge most of the debts you owe. In exchange for this discharge, the bankruptcy trustee can take any property you own that is not exempt from collection, sell it, and distribute the proceeds to your creditors.
In Chapter 13 bankruptcy, you file a repayment plan with the bankruptcy court to pay back your debts over time. The amount you'll have to repay depends on how much you earn, the amount and types of debt you owe, and how much property you own.
What might I lose if I file for bankruptcy?
You may be able to exempt up to $17,425 of your homes equity. Some states have no homestead exemption; others allow debtors to protect all or most of the equity in their home.(this is only an estimate and to please consult a local Bankruptcy Lawyer to discuss your individual situation)
Insurance. You usually get to keep the cash value of your policies.
Retirement plans. Pensions which qualify under the Employee Retirement Income Security Act (ERISA) are fully protected in bankruptcy. So are many other retirement benefits; often, however, IRAs and Keoghs are not.
Personal property. You'll be able to keep most household goods, furniture, furnishings, clothing (other than furs), appliances, books and musical instruments. You may be able to keep jewelry only worth up to $1,000 or so. Most states let you keep a vehicle with more than $2,400 of equity. And many states give you a "wild card" amount of money -- often $1,000 or more - that you can apply toward any property.
Public benefits. All public benefits, such as welfare, Social Security, and unemployment insurance, are fully protected.
Tools used on your job. You'll probably be able to keep up to a few thousand dollars worth of the tools used in your trade or profession.
Wages. In most states, you can protect at least 75% of wages that you have earned but not yet received.
How Creditors Can Get Around the Automatic Stay
Usually, a creditor can get around the automatic stay by asking the bankruptcy court to remove ("lift") the stay, if it is not serving its intended purpose. For example, say you file for bankruptcy the day before your house is to be sold in foreclosure. You have no equity in the house, you can't pay your mortgage arrears, and you have no way of keeping the property. The foreclosing creditor is apt to run to court soon after you file for bankruptcy, to ask for permission to proceed with the foreclosure - and that permission is likely to be granted.
Will bankruptcy stop a foreclosure?
Yes and No… A home is an asset usually secured by a deed of trust. The mortgage company is entitled apply to the court for relief from the automatic stay, the order preventing creditor action by virtue of the bankruptcy. Depending upon several factors, you may be able to prolong a foreclosure until you have received your discharge from bankruptcy. Usually, to keep a home that is in foreclosure you will have to make a deal with the Mortgage Company. This is the key, you still must work something out with the Mortgage Company to repay the past due amount. This is why we say filing for Bankruptcy is like putting a band aid on a bullet wound… it may help you at first but major surgery is still required.
The Bottom line is that Bankruptcy may buy you a small amount of time but negotiations will still need to be made with the Mortgage Company to enable you to keep your home. Most people who file Bankruptcy to save heir home from Foreclosure wish they had not because in most cases they are in a worse position that when they started. Filing Bankruptcy removes your leverage and places your fate in someone else’s hands. Your best option is for you to stay in control, and allow AFS work something out for your prior to filing.
Pros for filing Bankruptcy to Stop Foreclosure
The Foreclosure proceedings will be temporarily suspended.
Cons for filing Bankruptcy to Stop Foreclosure
There will be a bankruptcy on your record for 10 years.
The Mortgage Company can work around the Bankruptcy and still Foreclose.
You lose any leverage and control you once had.
A deal must still be worked out with the Mortgage Company to repay the past due amount.
If you are 1 day late on any trustee payments your case "may" be dismissed, the stay will be lifted and you will be back in Foreclosure.
AFS can negotiate on your behalf with the Mortgage Company to keep your Home from Foreclosure and get your loan back in good standing.
We are not attorneys and in no way are giving you legal advice. We are only attempting to explain how Bankruptcy may affect Foreclosure in our opinion. You must consult a local attorney to discuss your case as it concerns Bankruptcy.

Can't Make Your Mortgage Payment?

CALL (954) 793-7974
We Can Help!
Quick Fact:
A loan modification will take the mortgage you now have and change the interest rate and payment requirements in order to achieve a better payment. A change in rates and payments does not result in the need for a new closing, legal fees, appraisal, or taxes.
Click The Contact Us or The Free Consultation Tab On The Left to get started!
www.LoanModificationFL.com will work on your behalf to get you and your family some much need relief and peace of mind!
Getting a loan modification
www.TheLendingChest.com and www.LoanmodificationFL.com will work for you!

Wednesday, May 14, 2008

TOP 5 MORTGAGES OF THE WEEK

www.TheLendingChest.com

Top 5 Mortgage Lead Providers of the Week
May 2nd, 2008 • RelatedFiled Under
Filed Under: Buying LeadsLead CompanyLead Market News
Tags:
We have been getting a lot of request from our Lead Buyer Readera to dig (Digg Us, that’s a good idea too) a little deeper into the Lead Provider’s listed in the Top 5 on Lead Marketwatch each week. So, here you go:
5. ZipSearch.com, is a consistent top 5 mortgage lead provider. They are a privately held company founded in 1995, and continues to be, lead by David Schneider.
They are a strong search and email marketers with an excellent inventory of web properties. Recently, they have invested their resources in improving niche offerings in FHA/VA leads. One of the things a lot of our customers praise ZipSearch is the investment they spend on qualifying their leads with TargusInfo and other data services to ensure data accuracy, loan limits, and 14 other qualifying metrics.
Another “feature” our male mortgage brokers are raving about is the notable addition of the ZipSearch! Girl.
Learn More About ZipSearch…
4. GetSmart.com, was acquired by LendingTree back in 2003, most likely, has a defensive strategy to growing short form powerhouses like LowerMyBills. Traditionally, it has been common wisdom that short-form leads performed worse than long-form leads simply based on the commitment level of the consumer to complete the application. However, this wisdom may be changing with tighter credit policies and heavy volatility in rates and qualifications. GetSmart, bolstered by new highly motivated and experienced new leadership is showing consistent and growing quality in this format. Combine that with the strength of the LendingTree brand awareness and customer loyalty and you can see why there conversion is solid.
Learn more about GetSmart…
3. LowerMyBills.com, has always been a dominate player in the mortgage space and have a overwhelming market share in the mortgage broker business. They are infamous for their nonsensical dancing ads that just beg to be clicked. Although their lead quality has never been considered to be their strength, instead being known for consistent volume, that seems to be changing. They have been adding additional quality checks and getting a lift from their recent addition of credit banding, no doubt with expertise from their parent Experian.
Learn more about LowerMyBills…
2. NexTag.com, is a relatively new feature within the Lead Marketwatch Top 5, but figures to remain strong. As one of the top comparison shopping sites, they are flush with an endless supply of consistent Web traffic. Their mortgage business has traditionally been modest, compared to their other businesses, but with a recent private equity capital infusion they are seem to be moving in to acquire high quality media positions at a discount.
Learn more about NexTag…
1. RootMarkets, has been a bit of a confusing company to follow. They have transitioned from a far leaning strategy of a customer controlled “attention” or lead (much like the current approaches of Zillow Mortgage Marketplace and SmartHippo [disclosure: I am a member of the SmartHippo advisory board]), through attempts to help large publishers monetize their content more efficiently, back to the core vision of their high profile Chairman Lewis Ranieri of a trading exchange for leads.
The lead exchange is a bit of a different model from the other lead providers in this list in that RootMarkets is facilitating the marketplace for mortgage lead buyers and lead generation sellers. The result is a mortgage lead system that can allow you significant flexibility in trying various sources, price points, and types of mortgage leads and lead providers.
Overall, the renewed focus on the lead exchange part of their business has obviously been reflective of their rapid rise to the top of the Lead Marketwatch and should be a big advantage to their mortgage brokers’ business.
Learn more about RootMarkets…
Disclaimer: The Lead Marketwatch is a real time observation of mortgage lead application rates during a defined rolling measurement period. These mortgage lead provider application rates are the actual ratios experienced by mortgage loan officers within the Kaleidico network mortgage of lenders. All reported lead providers must have sourced at least 100 or more leads during the measurement period. Your actual performance rates with lead providers may vary from these benchmarks for a variety of reasons.

Fannie Will Buy Negative Equity Loans REFINANCE FLORIDA, CALL DEAN CHITREN AT 954-793-7974 OR GO TO

www.TheLendingChest.com


Fannie Will Buy Negative Equity Loans
Now find a lender who will do the same, not to mention a PMI company
GSE will purchase up to 120% LTV refinanced loans
May 13, 2008
By MortgageDaily.com staff
Fannie Mae has outlined a program for borrowers whose mortgage balance exceeds the value of their properties.
The Washington, D.C.-based company will purchase refinanced loans with negative equity if it already owns the loans, according to a Keys to Recovery fact sheet provided to MortgageDaily.com.
The refinanced loan cannot exceed, however, 120 percent of the current property value, the secondary lender said.
The borrower must be current on their mortgage payments for the loan to qualify for purchase, the statement indicated.
"With home prices declining in many areas of the country and lending standards tightening as a result of the ongoing turmoil in the housing finance system, many borrowers find themselves with mortgages that exceed the value of their homes and are locked out of refinancing into safer loans that would allow them to sustain their mortgage payments," the government-sponsored housing enterprise said. "Fannie Mae's Keys to Recovery initiatives are geared toward providing liquidity, stability, and affordability to the housing and mortgage markets for the long term, and include steps to keep struggling borrowers in their homes, assist prospective homebuyers with home purchases, and stabilize communities impacted by the mortgage market downturn."
Fannie also outlined a number of other initiatives it has undertaken, including providing $10 billion in financing for state Housing Finance Agencies to finance first-time homebuyers, an initiative that would enable non-profits to purchase and renovate foreclosed properties to lease to less qualified borrowers with an option to buy, and its HomeStay initiative.

Tuesday, May 13, 2008

LAS OLAS MORTGAGE AND REAL ESTATE LOANS AND REFINANCE

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Home Search Results Community Details
Las Olas By The River
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1 of 7
From $296,400-$362,100
Community:
Las Olas By The River
520 SE 5th Ave.
Fort Lauderdale, FL 33301
Builder:
Montecito Property Company
Bed:
2 - 3
Bath:
2
Sq. Ft.:
1,084 - 1,447
Type:
Condo/Townhome
Stories:
1


(877) 307-1159
Toll Free
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Community DescriptionLocated in the very heart of Fort Lauderdale, Las Olas by the River offers a sophisticated, yet convenient and comfortable lifestyle at an extraordinary value.

Plans in this Community
Floor Plan
Price From
Beds
Baths
Sq. Ft.
Stories
Unit C1
$322,400
2
2
1,146
1
Unit C2
$296,400
2
2
1,150
1
Unit C3
$335,900
2
2
1,179
1
Unit C4
$345,400
2
2
1,123
1
Unit C5
$306,400
2
2
1,170
1
Unit D
$303,900
2
2
1,084
1
Unit E
$362,100
3
2
1,447
1
Community Features

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Presented By

Community:Las Olas By The River

Carol Collins
(877) 307-1159 TOLL FREE

Builder:
Montecito Property Company

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LAS OLAS MORTGAGE

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When you are buying or selling property in today's real estate market, it's important to have confidence in your real estate professional. Our commitment as your local REALTOR®s is to provide you with the specialized real estate service you deserve.When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why our goal is to keep you informed on trends in the marketplace using the latest statistics in your local area.As local area experts with knowledge of the communities, our objective is to work diligently to assist you in meeting your real estate goals.If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call or e-mail us.Thank you for visiting our website - please consider it as your online source for local real estate information, and return often for the latest property listing updates.

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MORTGAGE RATES LAS OLAS

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Get Pre-Qualified For A Mortgage
Obtain the Best Rates & Lowest Closing Costs
When you are ready to purchase a home, it makes sense to negotiate from the strongest position possible. In a strong real estate market, sellers can be more selective in the final buyer they choose to negotiate with. In such a crazed seller's market, it's not uncommon for a home seller to receive multiple offers on their property. With that said; there are certain things you can do to make certain that your offer is the one Seller goes with.
The vast majority of Purchaser's today go about the process entirely wrong, putting themselves at an overwhelming disadvantage!
Let's look at this from the Sellers perspective for a moment. If you were the Seller and had multiple offers on your property, all things being equal, would you accept the one with Certificate of Financing Approval or the one that was still conditional on Financing? The answer is obvious. Why then, do so many buyers wait to start the financing until after they have found the home?
What I have found is that those buyers are usually very good, qualified buyers and are not worried about getting approved. Even though they usually are correct and will ultimately be Approved, the Seller in most cases has no guarantees.
Lastly, from a cost savings perspective...
As a prospective purchaser, it makes all the more sense to start the financing early on so you can get a firm handle on your interest rate and estimate of points and closing costs. If you do this before finding a home, you are not under any time constraints and are less likely to over pay like a buyer who has found a home and is under strict time constraints.
Should you decide that you wish to take advantage of Pre-Approval, simply complete the attached confidential mortgage pre-approval application. We will locate the absolute best mortgage rate and lowest closing costs possible.

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