July 2, 2012 at 1:06 pm , by Russell Bradchulis
A new report from YouWalkAway.com indicates that lenders are taking longer to initiate and to complete a foreclosure. So that means that homeowners can stay in their house longer while the bank is taking their sweet time to start or complete a foreclosure. This seems like a great deal for the delinquent homeowner who already undoubtedly has a lot of other obligations they are trying to meet, and the relief of not having to make a monthly mortgage payment is a very welcome one. But the unintended consequence of banks taking longer to complete a foreclosure is that it will become less likely for a homeowner to get a loan modification as their delinquency increases.
December 3, 2010 at 8:26 am , by Russell Bradchulis
BANKS FORECLOSE EVEN AFTER RECEIVING TRIAL PAYMENTS
Homeowners in the middle of getting a loan mod–or wanting to start the loan mod process–may find themselves facing an unexpected auction. Some banks are not stopping the foreclosure process while sellers are scurrying around making their trial payments and faxing in documents (which the banks conveniently never receive). Meanwhile, the foreclosure time bomb is still ticking, which means that while the sellers THINK they are getting a loan mod, they are actually getting closer and closer to an AUCTION, and they don’t even know it! Then, about two to three weeks before the auction, the bank informs them that their loan mod did not pan out and their auction date is around the corner. No loan mod, no help, no alternative. That seller is going to foreclosure unless they do a short sale.
November 26, 2010 at 8:19 am , by Russell Bradchulis
BORROWERS WAIVE THEIR RIGHT TO PROTEST A FORECLOSURE
In addition to the confusion caused by not knowing who actually owns the note is the banks’ infamous ability to lose paperwork and payments. At any point the bank can claim that the homeowner has missed a payment–even if they actually DID make the payment–and then begin foreclosure proceedings right where they were when they started the loan mod. What’s worse is that the homeowner actually waives their right to foreclosure defense, meaning they essentially give up any argument against the bank foreclosing on them if they default. The homeowner is basically paving the way for the bank to take their house without any recourse.
November 19, 2010 at 4:18 am , by Russell Bradchulis
The vast majority of leads that come into our office are sellers who tell us their bank is working a loan modification for them. It makes us shudder every time we hear that because of what REALLY happens with loan mods. In most cases, the seller is better off going with a short sale and fixing the problem NOW, rather than letting it fester and worsen by going through a supposed loan mod. There is a whole other behind-the-scenes world of loan mods that you don’t hear about on TV. Here are some highlights.
3 Quick Ways To Get Rid Of Unwanted Rental Property For Top Dollar In Today’s Market: How to Make Your Problem Property More Appealing
July 30, 2010 at 9:22 am , by Russell Bradchulis
Even though you need to sell your property fast, there are things that you can do to help speed up the process that don’t take too much time or money.
3 Quick Ways To Get Rid Of Unwanted Rental Property For Top Dollar In Today’s Market: Sell Your Property Using a 5 Day Quick Sale Auction
July 19, 2010 at 9:08 am , by Russell Bradchulis
You may be wondering if you’re going to need to hire an auctioneer or auction house for your Quick Sale Auction, and the answer is “NO!” You can hold a Quick Sale Auction yourself with minimum time and effort. There will be some marketing expense involved, but will be well worth it when the house sells.
3 Quick Ways To Get Rid Of Unwanted Rental Property For Top Dollar In Today’s Market: Working with a Residential Redevelopment Company
July 8, 2010 at 9:05 am , by Russell Bradchulis
You may not have heard of a Residential Redevelopment Company yet, but they are quickly growing across the United States.
Residential Redevelopment Companies are popping up all over the place and are in search of properties just like yours to redevelop and beautify. Residential Redevelopment Companies specialize in buying problematic properties across the community. They rehab and beautify these properties to rejuvenate and rebuild entire communities and neighborhoods.
July 4, 2010 at 12:18 pm , by Russell Bradchulis
I’m getting ready to have some breakfast and now that the coffee has started flowing, I’ve gotten to thinking…
What did you have for breakfast today? Maybe cereal, or fruit, or eggs. When you bought those you had a choice between any of the myriad brands at the store. Have you bought an iPad? Do you have a car? Ever go out to eat at a restaurant? Buy clothes? Jewelry? Post on Facebook? Fly somewhere? Have to decide: Mac or PC? Choose the gas station that had the lower price? Buy the cheaper version of something? Buy the more expensive version of something? A Wii?
3 Quick Ways To Get Rid Of Unwanted Rental Property For Top Dollar In Today’s Market: Working with a local real estate investor
June 29, 2010 at 8:57 am , by Russell Bradchulis
Believe it or not, you CAN sell your problem property in today’s down real estate market, and you even have options. There are people out there who are looking for just this type of property, you just have to find them. They will be happy you did and will take your property off your hands. Some will even pay you handsomely for it.
June 20, 2010 at 8:52 am , by Russell Bradchulis
The Loan Modification includes changing the original terms of the mortgage through several methods.
This option provides for either a permanent change in one or more of the terms of a your loan, which allows a loan to be reinstated and results in a payment you can afford.