Alex Helps Homeowners - Short Sales Austin

Test Blog

Fri, 16 Apr 2010 13:32:00 GMT

Live from the CDPE Studio

Have a great one!

-Alex

Ignore the Hype - Find Solutions

Tue, 15 Dec 2009 12:04:22 GMT

Best Practices Realty Says Ignore the Hype - Find Solutions!

Have a great one!

-Alex

New HAFA Guidelines

Tue, 15 Dec 2009 11:53:51 GMT

US Treasury Announces new Home Affordable Foreclosure Alternatives (HAFA) Program with Short Sale Incentives

After more than a year of advocating a standardized short sale process to federal lawmakers, The Distressed Property Institute, LLC receives the U.S. Treasury’s announcement of short sale incentives, timelines and procedures.

“The HAFA program is an exciting step in the right direction for the entire country,” said Alex Charfen, CEO of the Institute. “Standardizing procedures will allow more homeowners and lenders to quickly reach a permanent solution.”

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 lien holders. Although the HAFA Program does not take effect until April 5, 2010, servicers may elect to implement HAFA in accordance with the Supplemental Directive prior to the launch date.

“We urge lenders to utilize these procedures immediately. Millions are facing fast-approaching foreclosure deadlines that will negatively effect borrowers, lenders and communities,” said Charfen. “The U.S. Treasury estimates that each foreclosure decreases the value of surrounding properties by 9 percent, therefore every foreclosure avoided helps stabilize communities and pull our economy toward a recovery.”

The Institute offers the Certified Distressed Property Expert® (CDPE) Designation. As the nation’s leading short sale training program, CDPE has educated more than 15,000 real estate professionals to assist distressed homeowners and work with lenders toward a quick and successful short sale transaction. A recent survey conducted by the Institute found CDPEs have decreased short sale processing time by an average of 50 percent.

“It has been suggested by countless experts that real estate will lead the economy out of the current crisis,” said Charfen. “It is the aim of HAFA and CDPEs nationwide to reduce the financial devastation for homeowners and communities that lay in the wake of every foreclosure. We’re excited to be making progress toward that goal.”

For more information about The Distressed Property Institute and the CDPE Designation, visit www.cdpe.com.

Nar Exhibit

Wed, 09 Dec 2009 13:23:50 GMT

Leaving the NAR Exhibit Hall, we bumped into one of our members visiting all the way from Honolulu, HI. A top agent, John Riggins shares his impressions of this year’s NAR Convention.

Distressed Properties: The Industry Responds

Wed, 09 Dec 2009 12:52:20 GMT

Distressed Properties: The Industry Responds

August 12, 2009 -- RISMedia -- The statistics are sobering. According to RealtyTrac’s Midyear 2009 U.S. Foreclosure Market Report, more than 1.9 million foreclosure filings were reported on more than 1.5 million U.S. properties in the first half of 2009-a 9% increase from the previous six months. Lurking in the shadows? A large wave of bank-owned properties yet to hit the market. For real estate professionals, the distressed property environment has given new meaning to being at the “center of the transaction.” Never before has there been a more critical time for agents and brokers to step forward.

“In these trying times, the future of our industry may be measured by the way we perform in this crisis,” says John Featherston, CEO & publisher of RISMedia and chairman & co-founder of RISMedia’s Top 5 in Real Estate Network®. “In this new age of residential real estate, the hundreds of thousands of homeowners facing foreclosure have become the focal point of our industry. Consumers are turning toward real estate professionals for answers and solutions. A property that goes into default or a distressed situation affects all the properties in the community and affects the consumer’s overall acceptance of the product we represent, which is a homeowner. The individuals we have interviewed for this story represent how several key leaders have responded to the crisis.”

Early Adopters

For some, dealing in distressed properties is not new territory. These are the real estate professionals who are now leading the charge in short sale education.

“Our real estate business focused on short sales and foreclosures, so we saw what was coming,” says Alex Charfen, co-founder, along with his wife Cadey, and CEO of the Distressed Property Institute in Austin, Texas, and the CDPE (Certified Distressed Property Expert) designation for Realtors.

“We had the privilege of sitting with hundreds of distressed homeowners and helped take them from complete panic to walking away from the closing table with their problems resolved,” recalls Charfen. In its first year, the Institute grew to 1,500 members, and just one year later, is now at more than 9,000 members.

“If structured correctly, a short sale can provide families with a life-altering option to foreclosure,” says Dave Liniger, chairman and co-founder of RE/MAX Intl. “The administration now recognizes this and has specific plans to streamline the process. As a result, the number of short sale transactions should increase substantially. I’ve been encouraging RE/MAX sales associates to obtain the CDPE designation to learn how to expedite short sales. Since March, we have registered over 5,000 Associates and the results they are seeing are nothing short of astonishing.”

Stacy Spickes, co-founder, along with her husband Michael, of Austin, Texas-based America’s Home Rescue, also had first-hand experience with short sales as Realtors working the Austin market. Living through the dot-com bust of the early 2000s, the Spickes quickly became front runners in working with distressed homeowners. Early in 2006, America’s Home Rescue rolled out a comprehensive, nuts-and-bolts, advanced short sale training program, and then in 2008, officially launched the Certified Default Resolution Specialist (CDRS) designation program.

According to Spickes, “Realtors play a huge part in getting the market back on track and reducing the number of homeowners going into foreclosure.”

“Our driving force is to put the homeowner first,” says Charfen, “so that when an agent walks into someone’s home they can help the homeowner figure out what solution they can most benefit from-whether that’s a forbearance, a deed in lieu, a loan modification, etc. Agents can help a lot of people stay in their homes.”

In the Trenches

For agents, however, working in short sales and distressed properties is not only a chance to help homeowners, it is often a must for survival in today’s market.

“I feel I need to follow the money and go where the action is,” says Top 5 in Real Estate Charter Member Rosemary West, team leader at RE/MAX Realty of Joliet in the Chicago area. After earning her CDPE designation, West began actively marketing her expertise on Realtor.com. “I implemented two banner ads running in two counties that said, ‘Call me about foreclosures, short sales and bank-owned properties.’ We get tons of leads every day on those two ads,” she reports.

For Top 5 Member Greg Mancini of Prudential Florida Realty in Port St. Lucie, Florida, working in distressed properties started out as a way to differentiate himself when he first started in real estate in 2004. “What started as a specialty to attract people is now my entire business,” says Mancini.

“You have to develop a pool of buyers and send regular e-mails a couple of weeks before the property is getting ready to go on the market,” advises Mancini. “In this market, it’s important to let people know ahead of time.”

For Jim Bass, a Top 5 Member from the Jim Bass Group of Real Estate Teams in Frederick, Maryland, who holds the CDPE designation, short sales is also familiar territory. “Our market was upside down in the early-to-mid ’90s as part of the aftermath of over appreciation in the ’80s. I’ve been dealing with short sales for over a decade.”

Being properly prepared to handle distressed property sales is essential for agents, as the challenges involved are many. “When I go on a listing, I do a detailed seller assessment (provided in Charfen’s course),” says West. “I don’t proceed with any short sale listing until I go over this assessment. I have to know what the seller’s expectations are and what their motivation is.”

Agents handling distressed properties will also need to monitor changes in state and local regulations that impact the process. As Bass says, “When it comes to short sales, there is no constant-it is a moving target.”

The Reality of Short Sales

In tackling short sales, there’s a lot of perception versus reality to be dealt with, particularly regarding a bank’s ability to quickly and efficiently process short sale requests.

“Leadership has stepped up to the plate and federal guidelines are being put in place, which is bringing organization to the conventional short sale process,” says Spickes. “We’re seeing more of a cohesive, holistic type of effort.”

According to Charfen, the delay in closing short sales is often more about the agent than the bank.

“When an agent puts the right information in front of the bank, short sales are getting approved incredibly fast,” he explains. “Most agents are listing short sales, not qualifying the homeowner, don’t know how to complete the package and are learning on the job when they take on the listing. This process is way too detailed to handle it that way.”

Bass agrees: “Everyone looks at lenders as the bad guys when they’re really just the go-between. When the agent provides the right information, it streamlines the process for the lender to be able to give the investor all that information.”

“Properly trained agents are, without a doubt, helping to quicken the transaction time,” concurs Spickes. “Agents need to know what kind of loan they’re shorting; what lenders need to net from the short sale; what lenders will and will not approve in terms of closing costs, repairs, etc. This is the information agents need to know so they can go about this intelligently instead of submitting offers and hoping they will stick.”

“The notion that short sales are impossible and never get approved couldn’t be further from the truth,” says West. “It’s all about information. If you bring in a file and have every single document ready to go, the bank will put aside all the files that are missing pieces to work on yours.”

According to Charfen, while the process might differ slightly from bank to bank, the basic information needed remains the same. “It’s the same as being a mortgage broker,” he says. “You present your client’s information the same way to 15 different lenders, even though every lender might have a different way of getting that loan approved.”

The perception that lenders “don’t like short sales” is unfounded, says Spickes. “Lenders save thousands of dollars by accepting a short sale versus foreclosing,” she explains. “It’s all about proper training and all parties working together to streamline the process and the communication.”

According to Darryl Davis, president of Darryl Davis seminars in Wading River, New York, and creator of the Certified Short Sale Professional (CSSP) course and designation, “The short sale and modification processes are slower than the foreclosure process…and that’s a dangerous thing. Agents need to add a good litigation attorney to their arsenal so that when a foreclosure notice comes in while they’re handling a short sale, they can hand it immediately to the attorney. If they do that, there’s a tremendous amount of defense that will then slow down the foreclosure.”

“The best possible service a real estate agent can offer a distressed property homeowner is to encourage them to consult their attorney before proceeding with any particular resolution,” says Allan Dalton, co-founder & president of RISMedia’s Top 5 in Real Estate Network®, publisher of The Four R’s of Short Sales. There are currently 40,000 copies of the Top 5 short sale brochure in circulation through Top 5 Members. “Before moving forward with a short sale, homeowners must be sure they’ve exhausted all other options available to them.”

Short Sales for All?

Does the pervasiveness of short sales and foreclosures across the country make working with distressed properties a must for every agent? Not necessarily, say the experts, although education is essential.

“You cannot be a real estate agent in today’s market and avoid encountering a distressed homeowner,” says Charfen. “Even if you never intend to handle a short sale, you need to have the training and knowledge.”

According to Spickes, “In today’s market, every real estate professional must have at least a base level of education. This doesn’t mean every agent needs to be an expert in short sales, but all of us do need to have a base level of good, solid, nuts-and-bolts training to navigate the current market challenges.”

According to Bass, only those agents with the proper training should pursue distressed property business. “There are so many potential liabilities for the seller client, the bank, the real estate professional, the buyer…and the rules continue to change. No one can say for certain what the impact on the homeowner’s credit report will be, no one can be sure how each individual will be impacted tax-wise. There are a lot of variables.”

What Consumers Need Most

Dealing with homeowners in distress puts the relationship skills of agents to the test.

“The first thing you have to do,” says Davis, “is manage the emotional state that the homeowner is in. You have to explain to the homeowner that instead of going down the path of foreclosure, they can save their credit with a short sale.”

“The biggest challenge is figuring out what the best solution is for the homeowner and helping them move toward that solution,” says Charfen. “You must put the homeowner first and then everything else will follow.”

“The homeowner is so upset and going through so much,” says Davis. “They want somebody to help them take care of things. If an agent comes in and asks the right questions and shows that they know their stuff, the homeowner will immediately trust the agent. This is not about being a better salesperson; this is about being really educated.”

“We feel this is such a privilege for the agent to be invited into this very personal space with the homeowner,” says Spickes. Helping homeowners stay in their homes is a cause that Spickes and the agents she trains are honored to be a part of.

Distressed homeowners also need someone to put things in perspective. “Many people feel that listing their home as a short sale is an embarrassment,” says West. “I congratulate them for admitting they need help-I tell them this is just a house. Don’t worry about it-just move forward.”

“The fear of being homeless is normally on the tail of some other hardship, like unemployment, a medical threat or divorce,” says Bass. “They’re terrified and don’t reach out to anyone. They are scared and embarrassed. We need to continue to show people that there are options.”

The Industry’s Responsibility

While brokers and agents are not responsible for the cause, most agree they are definitely part of the solution.

“This market has given agents the opportunity to show up and help people by guiding them through what might be the darkest financial period of their lives,” says Charfen. “This is a rare opportunity to become a trusted advisor to homeowners.”

“Each and every one of us has the responsibility to get educated and trained to better serve the market and help homeowners avoid going to foreclosure,” agrees Spickes.

Agents also have a responsibility to price homes correctly, says Davis. “Agents need to educate home-owners on how to price their property. If they don’t listen, go to the next appointment. If every agent took just one listing off the market, that would be a million less properties for sale.”

According to Bass, 70% of homes go to foreclosure without any visible request for help. “I believe real estate professionals are keenly positioned to help move this economy forward,” he explains. “Each of us owes it to our profession and our community. We must work together to educate people and minimize loss."

Maria Patterson, Executive Editor
http://rismedia.com/2009-08-11/distressed-properties-the-industry-responds/print/

Are there economic signs of life?

Wed, 09 Dec 2009 12:47:13 GMT

Highlands Today

Joe Seelig
Reporter
October 1, 2009
http://www2.highlandstoday.com/content/2009/oct/01/la-are-there-economic-signs-of-life/

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From left: Clayton Campbell, 3, and his mother Linda Campbell checkout the view of Lake June as Laura Shirley, a Certified Distressed Property Expert and realtor with RE/MAX, gives a tour of a single family home while holding Cody Campbell, 7-months-old, recently in Lake Placid.

Well, the Federal Reserve declared the recession over, according to USA Today's "Money" section a week ago, stating, "growth could be more robust than it previously anticipated," but are there signs of economic life in Highlands County?

Opinions vary, depending on which business one contacts. Unemployment in the county hovered around 11.4 percent for August, according to a previous report.

The lumber business can be an indicator for the construction side of things, and Angi Collier, a manager with W & W Lumber, said she is hopeful to see a spike with the winter visitors returning.

Collier said she normally works at the Lake Placid store on U.S. 27 South., but was on call at their Sebring location Wednesday, at the W & W Lumber/Ace Hardware store, located on DeSoto Road, next to the Burger King on U.S. 27 South.

"I really haven't seen an increase," she said. "We've had a few good months at both stores. I think July and August were OK, but July and August were better than September."

She said it's bad, but thinks next month will be the deciding factor with the winter visitors coming back. They've made a few cutbacks on some employee hours, just to play it safe.

While they have a few people buying a board or piece of plywood, the lumber side is geared up to serve its commercial customers.

"We've got a couple of contractors that keep us busy," she said.

Home closings rise

Things in the real estate market "are going really well," said Arianna Jordan-Burke, executive director of the Heartland Association of Realtors.

"The market is picking up," she said. "Home prices are amazing. If you plan on buying a home this is the time to do it."

Sales are up, she said.

Between January 2008 and Sept. 30, 2008 there were 75 home closings in Highlands County. For about the same period in 2009 to Sept. 29, there have been 915 closings.

She's heard more people say they have a closing than they were a year ago, she said.

"The $8,000 first-time homebuyer tax credit has definitely been a success," she said. "Homebuyer interest and housing sales increased almost as soon as the ink was dry on the tax credit legislation.

"Today's lower prices and interest rates appeal to consumers, but it's been the tax credit that has assisted 1.2 million first-time homebuyers to achieve the American dream of homeownership."

"I wish that was all in Florida," she added.

Banking

David Veley, senior lender with Highlands Independent Bank, thinks the recovery will take some time. He hopes things will get better by the end of the year.

"It's tough around here," said Veley. "We're probably going to take a little longer. The first place you're going to see it is when foreclosures start slowing down."

He said the courts are still pretty backed up with foreclosures.

"Hopefully, toward the end of the year we're going to a slowdown in that," he said.

Interest rates are good, but there has to be a positive change in the economy to take advantage of it.

"Construction is hurting because they can't build for what people can buy for," he said, speaking about short sales and foreclosure prices.

The bank is doing a steady lending business with people doing residential refinancing, picking up short sales and foreclosures, but loans for development projects, townhouses and condominiums have been sluggish.

"Which is expected because you have to have a market to back it up," he said.

Federal Reserve predicts a turnaround

According to a Sept. 23 press release from the Federal Reserve System's Board of Governors' Federal Open Market Committee, since the committee met in August economic activity has picked up following its severe downturn.

"Conditions in financial markets have improved further, and activity in the housing sector has increased," the report stated."Household spending seems to be stabilizing, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit.

"Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales.

"Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability."

Are Distressed Homes Worth It?

Wed, 09 Dec 2009 12:21:48 GMT

Are Distressed Homes Worth It?

October 1, 2009 -- Wall Street Journal -- Home buyers are finding that the battered real-estate market offers just as many opportunities for headaches as for bargains.

Seth and Crystal Grotzke, both 25 years old, recently bought a bank-owned two-bedroom, two-bathroom townhouse in Edina, Minn., for $110,000—when similar homes in the same development were selling for as much as $131,000. But exactly one day before the scheduled July closing, the Grotzkes learned there was a second, unpaid mortgage. Because of the foul-up, the couple was forced to live in Mr. Grotzke's boss's basement for more than a month. They finally closed on Aug. 31.

"We knew there would be title issues, but none that would last for that long," says Mr. Grotzke, an assistant pastor. He adds that buying a foreclosed property is a way for God to "teach you patience."

Matt Slaby/Luceo for The Wall Street Journal

Alisabeth and Colin Shearn bought this seven-bedroom house outside of Denver in a short sale.

Lots of home buyers are learning about patience these days. In August, nearly a third of overall housing sales were distress sales, according to the National Association of Realtors, up from 18% in March 2008, when it began tracking such sales. The figure includes both foreclosures and so-called short sales, in which the lender agrees to accept less than the full balance of a mortgage in order to unload the property.

In some parts of the country, such as Bakersfield, Calif., Las Vegas and Lakeland, Fla., distressed properties constitute half or more of all sales. So far this year, there have been nearly 411,000 sales of U.S. properties in some stage of foreclosure, according to RealtyTrac, which publishes a national database of homes in default, auctions and bank-owned homes.

Those numbers aren't making it any easier to buy distressed property. Bidding wars are erupting for the lowest-priced foreclosures. Experienced investors with cash are elbowing aside first-time buyers who need mortgages. And banks generally sell property "as is," without the defect disclosures required of other owners. Short-sale buyers, for their part, often face delays of weeks or months as they wait to hear back from lenders—and from the institutional investors who bought securities based on the mortgages.

Vandalized Properties

Distressed-property buyers also often have to cope with the fallout from the ruined lives of previous owners, such as vandalized properties and liens from second mortgages, taxes, unpaid water bills, homeowner-association dues and court judgments. For all that, final sale prices often aren't significantly lower than average in some areas, because the foreclosure glut has also driven down prices for sellers who aren't in default.

Buyers have to be thoroughly prepared by securing financing in advance and making sure they have a strong stomach, experts say. They should seek out agents with extensive experience and training in distressed property because the transactions are often complicated and time-consuming. Pushing and prodding bank officials, loan servicers and others is a big part of the job.

Colin and Alisabeth Shearn of Cherry Hills Village, Colo., a Denver suburb, managed to snag a seven-bedroom Mediterranean-style house in a short sale for $1,272,000, more than $900,000 below its original listing price in 2007. By the time they bid on the house last February, it had gone unsold for nearly two years and the price had been reduced to $1.5 million from $2.2 million. The couple closed on the purchase at the end of May, and moved in with their two preschool-age children.

House Rules

Thinking of buying a distressed property? It's very different than a standard real-estate transaction. Here are some pointers:

Distressed-property listings can be obtained from local real-estate agents, classified ads and Web sites such as RealtyTrac.com, Foreclosure.com, Trulia.com and Zillow.com, as well as bank Web sites.
Work with experienced real-estate agents and brokers with special training in foreclosures and short sales.
Get pre-approved by a lender, or certify that you have sufficient cash available, before bidding on properties. Auction buyers must be prepared to put down a cash deposit of 5 to 10% cash and pay the balance within 30 days in many states—and in some states, on the same day.
Get a thorough inspection by a qualified professional inspector or home-inspection engineer prior to auction or sale.
Arrange for a thorough title search and title insurance.
Be prepared for a long wait to hear back from the bank on a short sale, but be prepared to move quickly on a foreclosure; banks often set strict timetables on foreclosures.
First-time buyers with minimal cash and little time or aptitude for repairs probably should avoid foreclosures, and inexperienced purchasers should avoid auctions.

Sources: RealtyTrac.com; Distressed Property Institute; HUD; WSJ research

"It was nerve-racking," says Mr. Shearn, 41, a university research scientist. There was a long delay hearing back from the seller's bank, and the last-minute discovery of a lien from an unpaid water bill—the water was about to be shut off.

But in the end, Mr. Shearn, says he and his wife, 42, a co-owner of a software company, were happy. "We really lucked out to find this house."

Short sales like the Shearns' are particularly complicated. Lenders require detailed information about both buyers' and sellers' finances, and homeowners generally have to prove hardship. The entire package of documents is scrutinized not just by lenders but by the mortgage investors. Second- and third-lien holders frequently hold up transactions demanding a larger share of the settlement. The average transaction takes four to six months or more, agents say.

Lenders say they are stepping up their efforts to handle short sales. J.P. Morgan Chase & Co. has doubled the number of employees handling such sales, while Bank of America Corp. recently began allowing real-estate agents to submit short-sale documents online, reducing the chance a sale will be stalled. At Wells Fargo & Co., efforts to speed up short sales helped produce a 145% increase in these transactions in August compared with the same month a year earlier, the bank says. Meanwhile, the National Association of Realtors and other groups have recently launched short-sale and foreclosure certification programs for agents.

New Guidelines

The U.S. Treasury Department is expected to issue streamlined guidelines to lenders on short sales soon. Housing-industry leaders say complicated procedures are hindering them from clearing the large inventory of distressed property necessary to return the housing market to normal. Now, only about 20% or so of short sales are successful, according to real-estate brokerage Re/Max International Inc.

Buying a foreclosure is usually speedier than a short sale because lenders already possess the property. But there are other drawbacks. State laws vary considerably with respect to legal procedures surrounding foreclosures. Many states require judicial proceedings for foreclosing on a home that can take more than 12 months, a period during which the home may be vacant or occupied by tenants or squatters. Homes may have appliances, pipes and even electrical wiring ripped out.

Buyers of bank-owned properties are usually stuck with whatever hidden problems they discover, including construction defects, and they seldom get additional price concessions. For these reasons, it's especially important for distressed-property buyers to have a thorough inspection by a qualified home inspector or inspection engineer, as well as a thorough title search and title insurance.

Despite the hurdles, competition for low-priced foreclosures under $300,000 is keen, sources say. "The bargain hunters have come out from everywhere, and they are getting into bidding wars," says Re/Max Chairman Dave Liniger.

Buyers must be prepared and ready to move on a dime. If they're paying cash, they have to certify they have the funds available. Those who need financing should obtain pre-approval from a lender before even looking at properties.

Successful foreclosure buyers often bid significantly above the asking price. Chuck Brueske, 46, a hospital biomedical technician, says he paid $111,000 in August to win a bank-owned townhouse built in 1981 in Maple Grove, Minn., listed at $99,600.

Mr. Brueske says his own good credit history helped him win over two other bidders.

"It was unusual that in a down, depressed market that I had to bid more than the asking price, but as it turned out the other bids were higher than mine," he says. "It took me a while to swallow that."

Some home buyers give up after discovering there are bargain properties without all the obstacles. Jerrold Horning, 34, an electronics technician for the U.S. government in El Cajon, Calif., says he and his wife bought a house in the conventional market after seeing the condition many houses were in.

"Some of the foreclosures I looked at were horribly trashed. You would have to put another $100,000 in just to make it livable," he says. Of buying a distressed property for a primary home, he says, "I don't think it's worth the hassles."

—M.P. MCQUEEN, Wall Street Journal Reporter
Ruth Simon contributed to this article.

http://online.wsj.com/article/SB10001424052970203803904574430860271702396.html?mod=WSJ_hpp_sections_personalfinance

The Truth About Mortgage Modifications

Mon, 02 Nov 2009 08:23:40 GMT

The Truth About Mortgage Modifications

The decisions you make as a homeowner today hold a profound impact on your financial future. However, it is important to safeguard yourself from misinformation and fraud. Get the facts regarding your situation and always have a contingency plan.

For those who qualify, a mortgage modification is the ideal remedy to their financial distress. I’ve prepared a FREE report on the truth about mortgage modifications to guide you through this important process. Simply provide your information below to get this valuable information, and feel free to pass it along to anyone who may need it. One homeowner lost to foreclosure is one too many!

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Together, we can formulate a plan to get back on track.

If you have any unanswered questions, or your circumstances are urgent, please call me today.

Alex Charfen
777-777-7777

7 Short Sale Myths

There are millions of homeowners just like you who are looking for answers and don’t know what to do. You’re not alone and you’re in the right place.

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Despite my best efforts, there’s still an overwhelming amount of misinformation about the options available, especially short sales.

To give you a better idea of the short sale option, and to set straight some of the myths you may have heard, I’ve prepared a free report just for you - please fill out the information below to receive your free report. This report will clarify the following myths:

The Bank Would Rather Foreclose Than Bother With A Short Sale
You Must Be Behind On Your Mortgage To Negotiate A Short Sale
There Is Not Enough Time To Negotiate A Short Sale Before My Foreclosure
Listing My Home As A Short Sale Is An Embarrassment
Short Sales Are Impossible And Never Get Approved
Banks Are Waiting On A Bailout And Not Accepting Short Sales
Buyers Are Not Interested In Short Sale Properties

These ideas are potentially harmful to homeowners seeking real solutions. I hope you’ll review this information for yourself or share it with a homeowner in need.

In these times, we all need to know the truth to know how to get back on track.

If you have any additional concerns about this issue, or your circumstances are urgent, please give me a call.

Alex Charfen
777-777-7777

Avoiding Mortgage Modification Fraud

I Am An Agent Against Mortgage Fraud!

The last thing struggling homeowners need is to be victimized by fraud. Sadly, some people are preying on those who need help the most. Today, the real estate industry is the newest, biggest target for predatory schemes. In fact, the U.S. Attorney General, Eric Holder, stated that mortgage fraud cases are 400 percent higher than they were five years ago.

With nearly 1 in 6 homeowners unable to pay their mortgages, understand that you are not alone. Knowing your legitimate foreclosure-avoidance options is the best way to fight this terrible trend.

The report on this site will tell you how to avoid mortgage fraud schemes, as well as what solutions are available to you. Enter your information below and get the facts now!

A Dignified Solution

You Deserve a Dignified Solution

The economy today has been especially hard on homeowners. I meet people every day who thought they made a responsible decision on their mortgage loan, only to be hit with the unexpected.

The first and best move to make in this position is to educate yourself on what your options are based on your financial situation. Avoiding foreclosure is always something worth pursuing if you can, and there really are dignified alternatives available.

To get my free report on all the options and benefits of avoiding foreclosure, fill out the form below and click "Send". If you need immediate assistance, please contact me right away.

I'm here to help.

Freezes in Foreclosure

Think a Foreclosure Moratorium Will Save Your Home?

Think Again.

You may have heard news that politicians are requesting a federal moratorium on foreclosures and wonder what this means to you, especially if you are behind on mortgage payments. The reality is that a foreclosure freeze is not the answer to your problem. However, there are steps you can take to avoid foreclosure.

On the site below I've listed 5 steps to Avoid Foreclosure, which starts out with the proactive approach in avoiding foreclosure—taking action!

I have created this site to provide a source of empowerment and education. From short sales to loan modifications, I can provide information to provide a genuine sense of hope.

For a free report on the Five Steps to Avoid Foreclosure, fill out the form below and click "Send." Remember, a moratorium won't save your home—only you can! I'm here to help.

Strategic Defaults are NOT Strategic

Walking Away Is NOT The Answer

You may have heard that a “strategic default” can be an appropriate and even beneficial reaction to an upside-down mortgage or impending foreclosure. While this idea is widespread, the truth is that default is never an easy road to choose, and rarely ever strategic.

Unfortunately, the ramifications of a “strategic default” are rarely explained, leaving many homeowners stranded on an island of misinformation. To assist you, I’ve prepared a free report outlining the myths and misrepresentations of strategic defaults.

Fill out your information below for this free report. Don’t hesitate. Get the facts today!

Is Your Mortgage Payment Dragging You Down?

One in seven mortgages in this country is headed toward foreclosure.

If you or someone you care about is feeling burdened by a mortgage that is unaffordable, I can help.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, it is my mission to help homeowners avoid the financial devastation of foreclosing on their home. In the process, I help them move forward on a positive path. If you'd like to learn more, I invite you to access my free report: Is Your Mortgage Payment Dragging You Down?

As my report points out, there are currently 6.5 million mortgages in the country that are delinquent or in foreclosure. Stemming the tide of foreclosures has become a national priority because a foreclosure is nothing short of a disaster for all concerned – families, communities, the real estate market and the national economy as a whole.

As a CDPE, I am tapped into the most up-to-date solutions for financially distressed homeowners, and am distinctly qualified to work with you to determine your best possible option.

Contact me today and let's get started!

Change the Course!

You Can Change the Course!

If you feel like shifting economic winds have not been in your favor lately, you are in good company. More than 6 million homeowners nationwide are in some stage of foreclosure.

If this is the case with you or someone you care about, you are all too aware of the stress and uncertainty that accompanies notices of default, unwanted phone calls and offers of help that turn out to be no help at all.

The fact is, the last thing your bank wants is to foreclose on your home. Banks are willing to negotiate, and you need someone on your side who is adept at negotiating with banks.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am tapped into the best solutions for helping financially distressed homeowners to make a fresh start. If you'd like to learn more, I invite you to access my free report: "Change the Course! And Navigate Away from an Unmanageable Mortgage."

Contact me today and let's get started!

Caution: Protect Yourself Against Mortgage Relief Scams

The Federal Trade Commission (FTC) has issued regulations protecting consumers against mortgage relief fraud. Due to the growing number of scams that are designed to take advantage of homeowners in distress, the government wants to make sure you won’t be a victim.

As a CDPE, I am fully compliant with the FTC regulations, and want to help you avoid being taken advantage of by unscrupulous individuals or companies, as well.

In fact, I’ve developed a free, detailed report that explains the warning signs of potentially fraudulent activity so you can protect yourself and the ones you love.

If you are facing an unaffordable mortgage and need help from someone you can trust, please contact me today.

I’m here to help.

Need a Helping Hand?

Compassion and connections to untangle your complicated mortgage challenges

If you or someone you care about is falling behind on your mortgage and owes more on your home than it is worth in today's market, you are not alone.

In fact, 6.3 million homeowners are in some stage of foreclosure right now.

As my recent report points out, there are currently 10.9 million homeowners in the United States who owe more on their mortgage than their home is worth in today's market.

Far too often, homeowners in this situation feel that they have no other choice but to let their home fall into foreclosure.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am tapped into the best solutions for helping financially distressed homeowners to make a fresh start. If you'd like to learn more, I invite you to access my free report: "Need a Helping Hand? If the market and your mortgage have tossed you a curve, you are not alone."

Contact me today and let's get started!

Mortgage Payments Weighing You Down?

Give Yourself and Your Family the Gift of a Fresh Start to 2012!

If you've spent too much of 2011 living under the dark cloud of an unaffordable house payment, you're in good company. Current estimates are that more than 25 percent of all homeowners in this country would net less on the sale of their home than the amount they owe on their mortgage, and 6.3 million homeowners are in some stage of foreclosure.

The good news is that you have options. Helping homeowners to avoid foreclosure has actually emerged into the spotlight of as a national priority, with major banks, the Federal government and many state and local agencies offering more assistance than ever before to financially strapped homeowners.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am tapped into the full scope of solutions for helping financially distressed homeowners to make a fresh start. If you'd like to learn more, I invite you to access my free report: "Mortgage Payments Weighing You Down? Give Yourself the Gift of a Fresh Start."

Contact me today and let's get started!

Understanding HAFA

New Help Has Arrived!

The rising number of foreclosures in this country is simply too big to ignore. That is why a government-backed program has been released that aims at streamlining foreclosure avoidance options.

Short sales and deeds-in-lieu are dignified solutions to foreclosure, and now the government is making them easier, quicker and more accessible through the Home Affordable Foreclosure Alternatives Program, or HAFA.

With one in six homeowners struggling to make mortgage payments, you are not alone, and there are options available. With the free report provided here, find out if you qualify for the HAFA Program. Simply fill out your information below to get started on your new chapter of financial stability.

Please read this report to learn the facts, and contact me to begin your journey to a solid, stable tomorrow.

Feeling Trapped by Your Mortgage?

Feeling trapped by your mortgage?

Education is the Key

If you or someone you know feels like a prisoner to unaffordable mortgage payments, you should know that education may be the key to financial freedom. You have options available that can help ease the worry of making payments or losing your home to foreclosure.

To find out more about the options you have to choose from, download the free report I've created at the bottom of this page.

In fact, this entire website has been created exclusively for homeowners like you who need a trusted source for viable solutions to foreclosure.

If you have questions about the information you find here, or would like to get started in creating a plan, call me today.

The more proactive we are, the better chance you'll have in finding financial freedom and stability.

Don't Walk Away From Your Mortgage

Stop Don't Walk Away From Your Mortgage

At a Crossroads?

Walking away or "strategically defaulting" on your mortgage is not the answer. You will find that there is nothing strategic about foreclosure, especially when there are solutions to avoid it.

You should know that you have options, and that you are not alone. More than 25% of American homeowners now owe more than what their homes are worth, and millions more are having a hard time paying their mortgages.

I've developed a free, detailed report on foreclosure alternatives you can download below. Download it today and give yourself a green light for a solid financial future.

The sooner you take this step, the more time you'll have to act and move toward a more promising tomorrow.

At the End of Your Rope?

Free report details 10 ways to alleviate the stress of an unaffordable mortgage payment.

Millions of homeowners across the nation are experiencing difficulties paying their mortgages. If you or someone you care about is feeling the stress of an unaffordable mortgage, please take the time to review the report found on this website.

As a Certified Distressed Property Expert (CDPE), I've been extensively trained to counsel and guide homeowners through their options. There are dignified solutions available to help people get back on path to financial stability. My clients have found strength in the knowledge that they are able to take an active role in avoiding foreclosure.

They know that avoiding foreclosure is key in providing for a brighter future. Foreclosure can wreak havoc on credit and affect current and future employment status in addition to many other long-lasting side effects. In the report, I demonstrate just how harmful foreclosure is in comparison to an extremely effective alternative called a short sale.

I can help you or someone you care about create a strategy for living a life without the burden of missed payments. Call me today, and let's work together to put you back on the path of financial stability.

Hidden Costs of Bankruptcy

Considering filing for bankruptcy? There may be alternatives you've never considered …

If you are having trouble paying your mortgage and are possibly considering bankruptcy, there may be better solutions for your particular circumstances. I've created the free report available on this page, "The Hidden Costs of Bankruptcy," to provide more information.

Alternatives to foreclosure, such as conducting a short sale and moving into a rental residence with less expensive payments, may offer the breathing room you need to reorganize your finances.

To get your free report, fill out the form below and click send. However, if your situation is urgent and you need immediate assistance, please don't hesitate to contact me.

I'm here to assist you.

Tipping the Scales Toward Foreclosure?

Fear of foreclosure is a national epidemic.

Millions of homeowners fell behind on their mortgage payments last year, and then proceeded to fall further behind every month.

These are tough times and there are no easy answers.

The fact is, major lenders, the federal government, and local agencies across the country have stepped up their efforts to stem the tide of foreclosures. More help is available than ever before.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am knowledgeable and adept at navigating among the full range of solutions for helping financially distressed homeowners to make a fresh start.

Looking to learn more? Check out my free report: "Tipping the Scales Toward Foreclosure? Resolve to Shed the Weight of an Unmanageable Mortgage in 2012."

And if you, or someone you care about is looking to tip the scales back into financial solvency, contact me today for a confidential consultation!

On the Edge of Losing Your Home?

When you or someone you know is pushed to the edge of foreclosure, it is vital to know that you have options.

It is my duty as a real estate professional to reach out to distressed homeowners. As a CDPE designated agent, I have received extensive training to help homeowners avoid foreclosure.

I created this site to provide a lifeline of information regarding alternatives. From short sales to loan modifications, I can provide information to help.

For a free report on foreclosure alternatives, fill out the form below and click "Send." Take action today and avoid falling into foreclosure. I'm only a phone call or email away.