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: The Myths and Misrepresentation of Strategic Defaults

The Myths and Misrepresentation of Strategic Defaults
.............................................................................

Why Walking Away is Not The Answer

 Recently, there have been reports claiming that a "strategic default" can be an appropriate and even beneficial reaction to an upside-down mortgage or impending foreclosure. While this idea has spread rapidly, the truth is that a default is never an easy road to choose, and rarely is it ever strategic. In fact, defaulting on your mortgage can be incredibly dangerous and irresponsible when handling the financial future of you and your family. Unfortunately, the ramifications of a "strategic default" are rarely - if ever - explained, leaving many homeowners stranded on an island of misinformation.

 If this is your situation, first understand that you are not alone. Millions of homeowners nationwide are in similar circumstances. The only difference between them and you is that you're looking for answers...and this report is a great start.

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So What's the Difference Between a
Regular Default and One That is 'Strategic'?

 Default occurs when a homeowner falls behind on mortgage payments. This can be due to a hardship, which can include (but isn't limited to) job loss, divorce, medical bills, or a monthly income shortfall. Due to current economic conditions, literally millions of homeowners across the country have found themselves in default situations. For homeowners in default, programs have been initiated through the administration and lending institutions to provide solutions and to salvage financial futures.

 In a "strategic Default," the homeowner simply chooses to "walk away" from the mortgage - in other words, move out and stop paying - even though they may be able to make the payments. This is often doen when the homeowner owes more on the home than it's worth, and views the home as a bad investment. However, most of these homeowners don't understand that walking away from the mortgage will expose them to foreclosure, credit issues, current and future employment challenges, and possible debt collections.

 If you are underwater on your mortgage or behind on your payments, you need to know that there is time to analyze your options before foreclosure happens. More importantly, there are alternatives that will protect your credit and financial well-being.

 Mortgage lenders are looking to avoid the foreclosure process just as much as homeowners. While they are not in the real estate business, some have instituted further options to help homeowners avoid foreclosure.

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The U.S. Treasury recently announced new incentives, timelines and procedures for short sales. The HAFA Program, part of the Home Affordable Modification Program (HAMP), simplifies short sales procedures by setting limits on the time it takes lenders to respond, freeing borrowers from debt and capping claims of subordinate lienholders.

 As a CDPE-designated agent, I have the most current information on this program and participating lenders. Please call me to discuss your options.

828.230.1082

 

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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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