Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate

Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
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Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate








Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate

 

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CDPE: Is Your Mortgage Out Of Balance With Your Budget?

Is Your Mortgage Out Of Balance With Your Budget?
It can happen quickly.

An expensive car repair, an emergency, an unexpected illness – just a couple of little things and the life you’ve worked so hard to build and your finances can begin to feel completely out of balance.

No one is immune from the housing crisis in this country. The foreclosure crisis has hit every income, every region and every education level. Take a look at some of these numbers:

  • Number of consecutive years home prices have fallen: 5
  • Number of homes lost to foreclosure since 2007: 7.9 million.


In 2011, 1.9 million homes were foreclosed on. In most economic times, that would be a lot of homes, but that was actually the lowest number of foreclosures since 2007.

When you find yourself in financial distress because of an unaffordable mortgage it can make you feel like the scales are tipped against you and that there is no way out.

You have options.

Real estate professionals who have earned the Certified Distressed Property Expert (CDPE) designation are on a mission to help you. They are specifically trained to provide you with options and help you avoid scams.

 

Is a short sale for you?

If you are no longer able to make your home payments, and you owe more on your mortgage than your home is worth, you’re in good company. An estimated one-fourth of all U.S. homeowners are Upside Down on their mortgage—meaning they owe more on their home than they could get from selling it in today’s market.

Often the best solution for homeowners in this situation is a short sale in which the bank agrees to accept less than is owed on the mortgage. The bank doesn’t want to foreclose on your home and short sales are more common than ever before.

The situation is complicated and the stakes are high. Never has it been more important to have a local market advocate on your side.

Contact me today and let’s get started!

 

REMEMBER: DOING NOTHING DOES NOT SOLVE ANYTHING!

Foreclosure results from non-payment of a mortgage and is the final step in a delinquency proceeding. Far too often, homeowners don’t reach out for help before letting this happen.

The unfortunate fact is that there’s a lot more to foreclosure than losing your home. Foreclosure carries long-term consequences. It affects your credit. After foreclosure it will be 7 years or more before any bank will consider letting you buy a home again.

The fact is foreclosure almost never needs to happen— especially today.

When you contact a CDPE, he or she will go over your options to avoid foreclosure. Here are some of them:


 

Reinstatement:

Was the reason you missed your payments temporary and now the issue has been resolved? If you can make a one-time payment that includes all missed payments, legal fees and late fees, you are eligible to be reinstated back into your loan agreement.

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Forbearance or Repayment Plan

If the hardship which caused you to miss your payments was temporary but you cannot afford a payment to qualify for reinstatement, you may be able to negotiate a forbearance or repayment plan. In this case, you may be able to pay the missed payments over time, or the payments can be placed at the end of the scheduled loan amortization.

.......................................................................................................

Sell the property

If you have equity in your property than can cure the foreclosure (and you have time to wait for a buyer) then this may be an option for you.

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Rent the property

Renting your home might be an option which enables you to pay your mortgage. You are still responsible for all costs associated with the house including maintenance and taxes.

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Mortgage Modification

In some cases, you may be eligible to modify your loan in a way that reduces principle or lowers payments. Some of these programs vary from bank to bank but there are also government sponsored programs which are available to help homeowners in distress.

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Refinance

If you have enough equity in your home, refinancing may help you get back to more affordable payments. This will be determined by your credit, if you are current on your loan and how much the property is worth.

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Bankruptcy

In some cases, bankruptcy is an option. It may stop foreclosure and allow you to reorganize your debt. The stoppage is only temporary and if you are still unable to make payments then foreclosure will go through anyway. It also makes a property much more difficult to sell.

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Short Sale

You sell your property for less than it is worth and the bank, realizing that some money is better than no money at all, agrees to release you from your obligation to the remainder of the loan. In some cases, you are able to walk away from the loan clear of any obligation.

 
 

Does the Mortgage Debt Relief Act apply to all forgiven or cancelled debt?

  • You are told you will get a federal incentive to walk away from your mortgage

  • You are asked to pay upfront for counseling

  • You are pressured to sign papers immediately

  • You are asked to sign your house over to a company or person who is not working with your mortgage company

  • You are asked to make a mortgage payment to someone other than your mortgage company without their approval

  • You are guaranteed a successful short sale or mortgage modification

  • They claim to be a representative of the federal government

If you believe that you are a victim of a scam, you should contact the Federal Trade Commission (FTC) at:

1-877-FTC-HELP (1-877-382-4357)
or visit their Complaint Assistant:
https://www.ftccomplaintassistant.gov

Contact me today and let’s get started!

 

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Contact me today and let’s get started!
Jerry Lee Hatley
Re/Max Mountain Realty
P.O. Box 1351, Maggie Valley, NC 28751
cell: (828) 230-1082
email: jerryhatley@bellsouth.net

CDPE website: http://www.hosted.cdpe.com/167450/

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Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate

Short Sale Specialist: Jerry Lee Hatley
Foreclosure is NOT
your only option!

Short Sale Incentives:
Why Banks will Give You Money to Sell the Home You Can't Afford

The nation’s leading mortgage lenders are extending extras for short sale transactions employed as an alternative to foreclosure – both in the form of monetary incentives for borrowers and streamlined procedures for real estate agents. read more.......

Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
   
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
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