Category Archives: Credit Repair Assistance

Boomerang Buyers-Default,Deed-in-Lieu,Loan Mod,Short-Sale, Foreclosure, or BK’s?

If you’ve had any of the adverse credit events mentioned above then you need to re-check your eligibility for obtaining a home loan. This chart below is a great guide:

Homeowneraferadversecredit

 

Perhaps you did a BK to stop a foreclosure. If it’s been officially resolved then check the chart below as you might be able to now SELL that home and move down OR up. Continue reading Boomerang Buyers-Default,Deed-in-Lieu,Loan Mod,Short-Sale, Foreclosure, or BK’s?

Want to Buy a Home but past “Short-Sale” or Foreclosure is keeping you out? Help is HERE!

Join Allison and I was we interview Jon Maddux of www.AfterForeclosure.com and their unique web site dedicated to helping the “Boomerang” buyer, or the buyer who recently went through a “Short-Sale” or “foreclosure” own a home again.

Had a recent Foreclosure or "Short-Sale"? You just MIGHT be able to buy again!
Had a recent Foreclosure or “Short-Sale”? You just MIGHT be able to buy again!

The folks who brought you “Walking Away from Debt” which advocated “Short-Selling” or letting your home go to Foreclosure, are now attempting to alert the 10,000,000 or so “ex-homeowners” of programs available to these families to once again realize the American Dream. Or as they say,  Homeownership Is Within Reach!

Questions for John: PH: 619.704.8917 Fax: 877.815.1060

Co-founder / Sr. Mortgage Banker  AfterForeclosure.com 

491 2nd Street, Suite 102, Encinitas, CA 92024

NMLS#957969

 

 

Special Show Apperance: September 11th!! Stategic Defaulting on your Mortgage? Or simply prudent financial planning? The controvery continues as the Economy stumbles towards a possible double dip.

 

I’m commenting on a controversial  book entitled, “Walk Away From Debt for a Better Future”. The author, Nicholas Carroll, advocates “prudent financial” planning or strategically defaulting on your home mortgage and  credit card debt. He uses various techniques and is an alternative many, many families are considering as the moribund real estate market limps along.  His web site has some provacative articles and I feel is a MUST read for those who are upside down on their homes with overvalued mortgages and staggering credit card debt. CLICK HERE to visit his site.

The author referred to a Wall Street Journal article on “strategic” defaults  and one of the “comments” linked to this great site of some very clever limericks. Here’s one on the articles featured couple after they “walked-away” from their debt.

 

 

 

The Smiths, of 212 Willow Lane,
Thought their mortgage a terrible strain;
They defaulted and then
Moved next door to 210,
Where they rent, and are solvent a-gain.

http://limerickseconomiques.blogspot.com

 

 

 

 

 

 

Linda Watson, USDA specialist and Niche Loan Consultant–Great Guest-Contact Information

Sonoma County, California HomeBuyers had a great treat this morning listening to Linda Watson who spoke on Niche Lending and her specialty–USDA Loans. Who said  you had to PUT 20% down? Two low down scenarios are yours for the choosing. USDA has a ZERO like in -0- DOWN program and FHA with a CHDAP “silent” second gets you into a home with 1/2% down!! On a $400,000 home that is ONLY  $2,000 DOWN!!

All the more reason to listen to the “Real Estate Hour” every Sunday! Here’s Linda’s Information below–And for all YOUR real estate needs don’t forget to give us a call at: 707-799-3617!

"Niche" lending expert--USDA,FHA 203K,etc.

Linda Watson “Your Friend In The Mortgage Business”

(707) 292-6424 1303 College Ave., Suite 200,Santa Rosa, Ca. 95404

www.winecountryhomemortgage.com

CA DRE License # 01319154  NMLS #230174

Wine Country Home Mortgage is licensed by the CA DRE, licence #00654852

Short-Sales and “Deeds-in-lieu” UP according to the Treasury Department! But Loan Mods–50% fall out!

DSNews.com and Carrie Bay report: The Treasury Department released a new report on the government’s foreclosure prevention efforts Friday. In addition to the Home Affordable Modification Program (HAMP) numbers that are regularly recounted, new this month are details on short sales and deeds-in-lieu, as well as second lien modifications.

Can’t Afford an Attorney for consultation on a Foreclosure, Short-Sale or Loan Modification issue? Call THESE organizations!

 If you cannot afford to consult with an attorney or an accountant, you should consult with a HUD-Certified housing counseling agency. Call toll free: 800-569-4287 or go to http://www.hud.gov/offices/hsg/sfh/hcc/fc/.  Or check a legal aid provider in your community. Sonoma County homeowners call: 707-542-1290 or http://legalaidsc.org/  Mendocino and Lake Counties call: 916-551-2150 or www.lsnc.net. Napa County you can call: 510-663-4744 or www.baylegal.org

Bankruptcy Attorney Linda Green Joins us this Sunday-Chapter 7 & 13 explored! Foreclosure pending-BK could help!

Linda Green, a local bankruptcy attorney, joins us this Sunday to discuss the benefits and downside of seeking Chapter’s 7 or 13  bankruptcy. Facing imminent forclosure? BK could be your savior. Is it the Nuclear Option?  Her practice is in the North bay representing folks from Marin, Sonoma, Napa, Lake and Mendocino Counties.  She regularly counsels people experiencing foreclosure, garnishments and lawsuits regarding credit defaults. Questions we will attempt to answer:

  • What is the difference between Chapter 7 & Chapter 13?
  • Does Bankruptcy Stop foreclosure?
  • What are the ramifications of bankruptcy?
  • What kinds of assets can I keep if I file for bankruptcy?
  • Do I have to list all my debts when I file bankruptcy?
  • Can I keep a credit card when I file for bankruptcy?

 Join us as Allison runs the show this weekend! We also will tell you of two great open houses to see this weekend!

Our New “Credit Repair” web site–No Miracles-Results through Action!

Listeners–go to: http://www.FixYourCreditScoreOnline.com and visit our new web site. The site, which we wish to stresss is NOT a miracle worker or a “credit consolidation” site, does produce results through consistent and persistent action on the part of the non-profit which you will contract for their services and by YOUR concerted efforts along with them to call the lending institutions on errors and to keep them accountable.

  Please visit the site and let us know what you think. Watch the videos, read the testimonials and then either enroll on-line or give us a call to discuss special pricing! And DON’T forget to listen to the show June 13th for special guests who will explain the site and the process of improving your credit score. The $$$ you can save are truly inspiring and the money a bad credit score costs you apalling. Tune us in!

This week’s Show-June 13th-Sonoma County, California Home Buyers–Improve Your Credit Score! Here HOW this Sunday!

Allison and I are rolling out a new “credit repair” web site for the use of our clients and listeners. This is NOT a miracle web site gauranteeing Instant Results! The results we will discuss this week on the show are due to persistent and consistent action. The action is instituted by a non-profit, through attorney letters and YOUR own correspondence. However one thing we know–it works. We will have Steve Peritore of Misson Hills Mortgage to explain how HE uses it in his everyday business plus Tashia Key who is a representative from the non-profit which implements the program. Should be a very Interesting hour! Here is a LINK to our web site! Check it out.

How Often Can Individual Credit Scores Change?  Credit scores are not fixed; instead they reflect a consumer’s current credit situation, based on the information in the credit report at the time the report is pulled

How Long Do Negative Items Stay On a Credit Report? Negative credit accounts, or trade lines, can remain on your credit report for up to 7 years, and bankruptcies and other public records for up to 10 years. Inquiries on your credit report may remain for 2 years. These are the maximum times that are permitted by federal law for reporting agencies to show negative items; however, these times are not mandatory. At any time, a creditor or credit bureau may remove a derogatory remark from your credit report if the consumer requests an investigation into remarks that they feel are incorrect. Continue reading This week’s Show-June 13th-Sonoma County, California Home Buyers–Improve Your Credit Score! Here HOW this Sunday!