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 Truth About Mortgage Modifications

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Your First Steps to Avoid Foreclosure
Do You Know Your First Step?

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In today's market, chances are you or someone you know is having trouble making the mortgage payment each month. Facing possibility of foreclosure is an overwhelming reality for homeowners already feeling the pressure of an upside-down mortgage.

If this is your situation, understand you are not alone. Millions of homeowners nationwide are in the same circumstances.

However, more than 70% of these homeowners proceed without seeking assistance and without getting the facts. Many do not realize that foreclosure is a process, and there is time to make decisions that may result in a better outcome. Having the motivation to take action, and finding a professional who can work with you toward a solution, can ease this frustration.

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So Where Should I Start?

First you need to know your situation. Even if a bank has started procedures to repossess your home, it doesnt mean that you're out of time or options. The foreclosure process is generally lengthy, so there is time to analyze your next steps/ Your first steps should include:

STEP 1. Take Action

Congratulations .. you've already succeeded in taking your first step by reading this report. You are proactive about finding a solution, and the answers to many of your questions are right here.

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STEP 2. Contact An Educated Agent

Be wary of any rescue scams or mediators that promise a quick resolution to a pending foreclosure in exchange for upfron fees. A reputable counselor will not guarantee to stop the foreclosure process, no matter the circumstances. Look for the CDPE logo like the one on this report to ensure that agent has undergone extensive training in the foreclosure avoidance options available to homeowners. CDPE-designated agents, like me, have the education and resources to provide solutions.

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The Washington Post reported on a recent study that found:

"Troubled homeowners who receive housing counseling are 60% more likely to avoid foreclosure and have their mortgage payments lowered significantly than borrowers who navigate the process themselves."

 

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STEP 3. Organize Your Personal Documents & Information

Prepare by gathering your personal information in an organized fashion. No matter which option you choose, the process can be expedited significantly if these materials are assembled before hand:

  • Checking Account Statements

  • Recent Mortgage Statements

  • Savings Account Statements

  • Your Last Two Paycheck Stubs

  • Your Past Two Tax Returns

  • A Letter of Hardship

I can assist you in organizing and understanding this process and ensure you have all the necessary information.

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STEP 4. Contact Your Lender

Contact your lender as soon as possible to discuss the appropriate solutions to your circumstances. Lenders want to avoid the foreclosure process just as much as homeowners. They are not in the real estate business, do not wish to take ownership of a home, and do not want a house to sit idle on the market. Recently, some have even instituted further options to help homeowners avoid foreclosure.

Remember to keep your agent, or me if you choose to contact me, informed on any decision you make so they can take action after talks with your lender.

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STEP 5. Understand All Your Options

Following are a few foreclosure avoidance options that may be the best solution for your particular situation.

  • A short sale is a dignified alternative to foreclosure, allowing a homeowner who owes more on their property than it's currently worth, to sell their property at a price lower than what is owed.

  • A deed-in-lieu allows the homeowner to return the property to the lender rather than go through the foreclosure process.

  • A forbearance or repayment plan invloves the homeower negotiating wirth the mortgage company to allow them to repay bac-kpayments over a period of time.

  • A mortgage modification involves the reduction of one of the following: The interest rate on the loan, the principle balance of the loan, the term of the loan, or any combination of these, for a more affordable mortgage.

  • Renting the property can also be an options, if a homeowner who has a mortgage payment low enough can convert their property to a rental and use the rental income to pay the mortgage.

  • Bankrupcy is "foreclosure solution" in some states in situations, but still remains a challenging financial decision.

  • A mortgage refinance can be an option if a homeowner has sufficient equity in their property and their credit is still in good standing.

  • The Servicemembers Cival Relief Act was implemented to hep members of the military experiencing financial distress due to deployment.
    Contact me for more information.

  • The sale of a property can be accomplished if a homeowner has sufficient equity and a qualified agent who understands the current market. If you don't have equity, a short sale may be a good option.

While this represents only a summary of some of the options available, it is important for you to understand all of them to find the best solution for you.

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STEP 6. Action!

Congratulations again! You've already gotten started by reading this report. Contact me today and let's get you back on the path to financial security.

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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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