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Underwater on Your Mortgage?

You almost surely know someone who is facing foreclosure. Maybe you are personally struggling with your mortgage payments and wondering where to turn for answers. You are not alone.

Today, 1 out of every 6 homeowners in the United States is behind on mortgage payments, and that number may be higher by the time you read this. There are a variety of options available to distressed homeowners. Credit can be saved, foreclosure can be avoided, and your financial future can be salvaged.

We’ve created a special website devoted to helping our clients understand the possible solutions to their mortgage dilemmas, as well as providing detailed explanations about short sales. Check out the posts on this page, and if you want more detailed explanations and options, visit our Foreclosure Alternative website.

Every month, you’ll find a new special report filled with information intended to help you make an informed decision about your next steps.

As an agent with the CDPE® Designation, I have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you.

 
Thumbnail image for Tipping the Scales Toward Foreclosure?

Tipping the Scales Toward Foreclosure?

by Sara Driscoll January 17, 2012 Distressed

Resolve to Shed the Weight of an Unmanageable Mortgage in 2012

Current estimates from RealtyTrac reveal that close to 7.5 million American households are delinquent on their mortgage or in foreclosure. An additional 11 million homeowners owe more on their mortgage than their homes are worth. …

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Are Your Mortgage Payments Weighing You Down?

Are Your Mortgage Payments Weighing You Down?

by Sara Driscoll December 5, 2011 Distressed

Get a Fresh Start

Has your life changed since you bought your home? Between rampant unemployment and the San Diego housing market still struggling to find the floor on home prices, many families find themselves without the stability they had once counted on.

If you are falling …

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Thumbnail image for Is Your Mortgage Unmanageable?

Is Your Mortgage Unmanageable?

by Sara Driscoll November 25, 2011 Distressed

Change the Course
Navigate Away from an Unmanageable Mortgage

Almost one fourth of all U.S. homeowners are “underwater” on their mortgage, which means they owe more on their home than the net proceeds they would receive if they sold it. While selling the family home used to …

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Thumbnail image for Is Your Mortgage Payment Dragging You Down?

Is Your Mortgage Payment Dragging You Down?

by Sara Driscoll September 24, 2011 Distressed

The choices that homeowners make when they feel they are at the end of their rope will affect their ability to qualify for credit, their job prospects, their security clearance and their overall finances for years to come. Is a short sale the best solution? Strategic default? Loan modification? Foreclosure is not inevitable and neither the government nor your bank wants to see that happen. Taking action early in the process will reveal options and solutions that you didn’t know were at your disposal.

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Thumbnail image for 10 Ways to Deal with an Unaffordable Mortgage

10 Ways to Deal with an Unaffordable Mortgage

by Sara Driscoll August 13, 2011 Distressed

6.38 million people in the U.S. are at least 30 days late on their mortgage payments, according to a recent study by Lender Processing Services (LPS). Here are 10 of the most common alternatives to foreclosure, along with benefits and drawbacks to each. Does one of them sound promising to you?

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Missing Mortgage Payments?

Missing Mortgage Payments?

by Sara Driscoll July 17, 2011 Distressed

Are you wondering what a homeowner should expect when payments are missed? The most important thing to know is no matter what stage of default a homeowner is in, there are many ways to avoid foreclosure. The quicker a homeowner takes action, the greater their chance of resolving the situation. First, know what to expect. While timelines vary according to lender policies, this is typical of what happens when payments are missed:

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Don't Walk Away from your Mortgage

Thinking of Walking Away from Your Mortgage?

by Sara Driscoll March 9, 2011 Distressed

If you are considering whether to “strategically default” on your mortgage, be sure to look into all of your options. 36% of Americans surveyed think that walking away is a viable solution when they owe more on their home than it is worth. One in four American homeowners is “underwater”, so you are not alone.

In a “strategic default”, homeowners simply stop paying their mortgage when they owe more than the home is worth. They just walk away, not understanding that the inevitable foreclosure carries consequences they haven’t considered. Request our special report and design a strategy to protect your financial future.

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Short Sale Approved

Short Sale Approved in 29 Days!

by Sara Driscoll October 29, 2010 Distressed

B of A short sale approved in only 29 days–could that be the world record? Whether it is or not, I was pleasantly surprised throughout the experience with B of A. We submitted the short sale package via their automated Equator system on 7/28/10, and received official approval to the short sale request on 8/28/10! Escrow closed just over 30 days later.

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Foreclosure Rescue Scam

Beware of Foreclosure Rescue Scams

by Sara Driscoll September 17, 2010 Distressed

With foreclosures on the rise, foreclosure-related scams have exploded onto the real estate scene. These so-called “foreclosure rescue companies” claim they will help desperate homeowners save their homes, but are really out to make a profit at the expense of someone grasping at any hope. If you know someone teetering on the brink of foreclosure, read on and send this their way!

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