Effective April 5, 2010, the government has added an update to the Making Homes Affordable Program that should be a real help for homeowners in distress who do not qualify for a loan modification.
The HAFA program, which stands for Home Affordable Foreclosure Alternatives, targets the implementation of Short Sales and Deed-in-Lieu of Foreclosure.
You can find complete information that was updated March 26th by following this link;
https://www.hmpadmin.com/portal/docs/hafa/sd0909r.pdf
The exciting part of this program is that should finally shorten the time it will take for a homeowner to get an answer from their lender, and provide some real direction in dealing with this overwhelming problem.
As you know, I have been assisting homeowners in distress for some time now, showing them that there are real alternatives to foreclosure. If you or someone you know needs more information, please visit my Website at
www.mike-bryantcanhelp.com
for valuable free information. Remember, I'm here to help.
Sunday, March 28, 2010
Thursday, March 18, 2010
2009 Year End Mortgage Delinquencies
The statistics for mortgage delinquencies, nationwide for the 4th quarter of 2009 are now official, and I wanted to share them with you.
These statistics are based on approximately 44,600,000 mortgages, and they show that 4.58% are in foreclosure, but more importantly, 10.44% are in default (30+ days late), for a staggering total of 15.02%!
The worst of these are the subprime loans, with 15.58% in foreclosure, and 25.26% in default (30+ days late), for a whopping 40.84% total!
Today, foreclosure is an overwhelming reality for millions of homeowners. However, more than 70% of homeowners proceed without seeking assistance and without getting the facts.
As I have been mentioning during the past few weeks, I have developed a Website at http://www.mike-bryantcanhelp.com/
Here I’ve prepared a free report to lay out the first steps people should take when upside-down on a mortgage and unsure of what to do next! You will learn the advantages and disadvantages to all your options, while putting together an efficient outline of how to take advantage of whichever one you choose.
I sincerely hope you will take advantage of this information and please feel free to pass it along to anyone you know in need. Getting the right information is the key to getting back on track.
If you know someone who is currently in danger of losing their home, and doesn't know what to do, please forward this information to them. Remember, I am here to help.
Mike
These statistics are based on approximately 44,600,000 mortgages, and they show that 4.58% are in foreclosure, but more importantly, 10.44% are in default (30+ days late), for a staggering total of 15.02%!
The worst of these are the subprime loans, with 15.58% in foreclosure, and 25.26% in default (30+ days late), for a whopping 40.84% total!
Today, foreclosure is an overwhelming reality for millions of homeowners. However, more than 70% of homeowners proceed without seeking assistance and without getting the facts.
As I have been mentioning during the past few weeks, I have developed a Website at http://www.mike-bryantcanhelp.com/
Here I’ve prepared a free report to lay out the first steps people should take when upside-down on a mortgage and unsure of what to do next! You will learn the advantages and disadvantages to all your options, while putting together an efficient outline of how to take advantage of whichever one you choose.
I sincerely hope you will take advantage of this information and please feel free to pass it along to anyone you know in need. Getting the right information is the key to getting back on track.
If you know someone who is currently in danger of losing their home, and doesn't know what to do, please forward this information to them. Remember, I am here to help.
Mike
Sunday, March 7, 2010
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Essential Heating System Maintenance
Getting your home’s heating system professionally serviced every year will keep it running smoothly and help keep heating costs under control. Read
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Save Money With an Insulation Upgrade
Beefing up inadequate insulation is one of the quickest energy-payback projects you can do, resulting in lower heating and cooling bills and increased comfort. Read
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Chimney Maintenance for Warmth and Safety
Chimney maintenance and a fireplace inspection can make the difference between warm safety and drafty danger. Read
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Cleaning and Caring for Siding
The annual cleaning and repair of your home’s siding will pay off in a long life and increased value. Read
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Conduct Your Own Energy Audit
A do-it-yourself energy audit can teach you how to be more energy efficient and make you a more-educated consumer should you decide to hire an expert. Read
Visit houselogic.com for more articles like this.
Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
When Strategic Default's not Strategic
Recently, I’ve had friends and colleagues asking me questions about “strategic default,” wondering if it’s an appropriate or beneficial solution to an upside-down mortgage or impending foreclosure. Briefly, strategic default is someone walking away from their home even though they can currently make the payments. While this idea has spread rapidly as a viable option, the truth is that a default is never easy, and almost never strategic.
I think it’s also my responsibility to reach out and see if you or someone you know might be able to use my assistance.
As you know, I have training in handling distressed properties to help my community find answers in their times of need, and to keep my friends and neighbors as far as possible from the thought of foreclosure. That’s why I’ve created a website to provide answers and assistance, even a free report on the myths and misrepresentation of strategic defaults. You can find it here:
http://www.mike-bryantcanhelp.com/
If you know someone who is currently in danger of losing their home, and doesn't know what to do, please forward this information to them. I am here to help.
Sincerely yours,
I think it’s also my responsibility to reach out and see if you or someone you know might be able to use my assistance.
As you know, I have training in handling distressed properties to help my community find answers in their times of need, and to keep my friends and neighbors as far as possible from the thought of foreclosure. That’s why I’ve created a website to provide answers and assistance, even a free report on the myths and misrepresentation of strategic defaults. You can find it here:
http://www.mike-bryantcanhelp.com/
If you know someone who is currently in danger of losing their home, and doesn't know what to do, please forward this information to them. I am here to help.
Sincerely yours,
Tuesday, March 2, 2010
Avoiding Mortgage Modification Fraud
I wanted to give you a heads up on something I think every single homeowner should be aware of. The FBI and U.S. Attorney General Eric Holder have reported a 400 percent increase in mortgage fraud cases from five years ago. It seems that with more homeowners unable to make mortgage payments, there are more and more predators trying to exploit these people.
I don't want to be unnecessarily alarming, but this is a threat that you or anyone you know should be aware of when going through a real estate transaction. It's not the nicest thing to think about, but essential nonetheless.
For anyone you know who is considering relocation, mortgage modification, short sale or any other transaction, I have put together a free report, available on my website that explains what kinds of fraud schemes the FBI has seen, as well as the "red flags" to look out for. You can download it here:
http://www.mike-bryantcanhelp.com/
If you have any questions about mortgage scams, or if anyone you know needs legitimate, professional help with avoiding foreclosure, please don't hesitate to contact me. I am here to help.
I don't want to be unnecessarily alarming, but this is a threat that you or anyone you know should be aware of when going through a real estate transaction. It's not the nicest thing to think about, but essential nonetheless.
For anyone you know who is considering relocation, mortgage modification, short sale or any other transaction, I have put together a free report, available on my website that explains what kinds of fraud schemes the FBI has seen, as well as the "red flags" to look out for. You can download it here:
http://www.mike-bryantcanhelp.com/
If you have any questions about mortgage scams, or if anyone you know needs legitimate, professional help with avoiding foreclosure, please don't hesitate to contact me. I am here to help.
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