Options That Can Help You Avoid Foreclosure

 To avoid a forced foreclosure sale, you have multiple options to consider. Some of these can allow you to keep your home and your credit rating intact, while others may involve the sale of your home to preserve your credit. 

 

Here are some of the options you can consider:

  • Special Forbearance – Your mortgage company may be able to arrange a repayment plan based on your financial situation. Your mortgage company may even provide for a temporary reduction or suspension of your payments. You may qualify for this if you have recently lost your job or your source of income or if you had an unexpected increase in living expenses. You must furnish information to your mortgage company to show that you would be able to meet the requirements of the new payment plan.

  • Mortgage Modification – You may be able to refinance the debt and/or extend the term of your mortgage loan. This may help you catch up by reducing the monthly payments to a more affordable level. You may qualify if you have recovered from a financial problem but your net income is less than it was before the default (failure to pay).
     
  • Partial Claim – Your mortgage company may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current. You may qualify if: 
          

    1. Your loan is at least 4 months delinquent but no more than 12 months delinquent
    2. Your mortgage is not in foreclosure
    3. You are able to begin making full mortgage payments.

    When your mortgage company files a Partial Claim, HUD will pay your mortgage company the amount necessary to bring your mortgage current. You must execute a Promissory Note, and a Lien will be placed on your property until the Promissory Note is paid in full. The Promissory Note is interest-free and will be due if you sell or leave your property, or when your mortgage matures.  

  • Selling Prior To Foreclosure – This will allow you to sell your property and pay off your mortgage loan to avoid foreclosure and damage to your credit rating. You may qualify if: 
          

    1. The “as is” appraised value is at least 70% of the amount you owe and the sales price is 95% of the appraised value
    2. The loan is at least 2 months delinquent prior to the pre- foreclosure sale closing date
    3. You are able to sell your house within 3 to 5 months (depending on what your mortgage company agrees to).

    An additional benefit to this option is the assistance you will receive with the Seller-paid closing costs. 

  • Deed-In-Lieu Of Foreclosure – As a last resort, you may be able to voluntarily “give back” your property to the mortgage company. This won’t save your house, but it will help your chances of getting another mortgage loan in the future. You can qualify if: you are in default and don’t qualify for any of the other options; your attempts at selling the house before foreclosure were unsuccessful; and you don’t have another mortgage in default. 

  • Call the INTEGRITY HOME PRESERVATION GROUP – If you are in SOUTHERN CALIFORNIA please cal us today. You’ll be connected to certified HUD counselors or certified foreclosure specialist. There are NEVER up front fee’s. We are in the business of keeping families in their homes! Call  (619) 454-2937
     

Blue and Brown Boy Baby Shower (aqua & chocolate)

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I recently hosted my first baby shower for my daughter. I found these cute baby boy plates and napkins and ran w/ the theme. It was a bit challenging finding the correct blue decorations. I was searching for the tiffany blue, aqua and chocolate-brown decorations but had little luck. So therefore I had to improvise and do a lot of DIY. Overall everyone that attended loved the elegant, yet cute baby decor. 🙂

For the table confetti, I punched them myself. I sprinkled brown, white, aqua dots on the tables and food table. Paula Deen sales a cute die-cut flower confetti in tiffany blue for $1.50 a package. I found those and the banquet bowls at Michaels.

I also did a balloon centerpiece for each table that came out really nice & super cheap but I have to see if any of my guest took a picture of it. I found the matching blue mylar balloons at the Dollar Tree store for $1 & added brown balloons to make an exciting centerpiece!! I had lots of fun and everything was done on a budget!! I’m a happy Granny.

My trip to Europe! (sigh)

 

Me & hubby last year in Pisa, Italy

Me & hubby last year in Pisa, Italy

I posted this picture of the Leaning tower of Pisa to remind me of why I work so hard. I love to travel and most of my dreams involve going to different destinations around the world. Last year my husband of 24 years and I took our dream vacation to Europe. We went to Italy, Greece, Turkey, Spain, and London. But our favorite place was Italy.

Just looking at this picture energizes me to get out of bed, go to work and put another client in escrow so I can go to my next trip. Not sure where but if you have any idea’s please let me know? I’m thinking the orients or an african safari. hmmmm…..

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Christian view on the economy. How some found peace of mind.

The present crisis has been an opportunity for me to rethink some basic questions about my life. What is life really about? How do we survive if our monetary security is gone? I have found my answers in the Word of God, (the Bible).

(2 Corinthians 1:3-4) Blessed be the God and Father of our Lord Jesus Christ, the Father of mercies and God of all comfort, {4} who comforts us in all our tribulation, that we may be able to comfort those who are in any trouble, with the comfort with which we ourselves are comforted by God. ~

This current crisis should also remind Christians that we are not called to be mere economic actors, but stewards.  Everything we are, everything we do, and everything we own truly belongs to God and is to be at the disposal of Kingdom purposes.  This world is not our home and our treasure is not found here.  We are to do all, invest all, own all, purchase all to the glory of God.

Today’s crisis in the financial system should not be a threat to the long-term health and vitality of our economic system.  There is cause for concern, but no justification for panic.  Rather than hit the panic button, spend that energy thinking about how we should glorify God in our surroundings.

As a county Housing crisis counselor in my area, I have counseled hundreds of families. What I see is in people is the fear of letting “THINGS” go. We tend to be attached to our stuff. I have to remind them that it’s just “THINGS”. Things can be replace but your health, your family, your peace of mind, your joy should not be compromised. As simple as that statement is, letting go can be challenging. Know the reality that TRUE Freedom only comes from GOD. Ask Him for peace of mind.

~ (Matthew 7:7) Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you: {8} for every one that asketh receiveth; and he that seeketh findeth; and to him that knocketh it shall be opened. ~ Ask Christ to forgive you for your sins (maybe it’s overspending), Seek Christ to know Him, Knock.. ask Him to come into your life to be your Savior… Then my friend, this is when you will experience Freedom from the crisis of this world.

~Leilani

7 Easy tips on Buying a Foreclosure

 

7- GREAT TIPS ON HOW TO BUY A FORECLOSURE

  • Step 1 Educate yourself! The first step is to learn as much as you can about Real Property and the process of owning Real Property. Since the process of buying a foreclosure is quite a bit different than buying from a private seller, you must do research, ask lots of questions and read articles like this one. 
  • Step 2 The next step, if you have decided to pursue a foreclosed property is to talk to a banker. Know your credit score! You must be pre- approved or have “Cash” money to make an offer on a bank owned property. Most “Banks” will require a pre approval through them regardless of your lender to ensure that you can move forward on “THEIR” property. 
  • Step 3 Find a licensed Realtor that specializes or is familiar with foreclosures. Interview them for the job. You are hiring them for their experience and skills! Ask for referrals and references.
  • Step 4 Do a “Drive-By”, take a look at the neighborhood. Do your best to use the information you have to determine if the property will meet your needs. Research the area.  If you plan to live in it or rent it out, what remodeling will need to be done to make it inhabitable? How much will that cost? High crime areas and environmental concerns must be addressed! 
  • Step 5 If a property passed an initial Drive-by or viewing, it’s time for action! Get your agent involved. They work for YOU. 
  • Step 6 If the property has passed your financial analysis, inspections and you are ready to move forward, it’s time to submit an offer. Your representative will walk you through the process. Make sure that you are prepared! Ask questions, take notes and ask for copies. Be prepared for multiple offers. Ask your agent what is a good price for the home. Formulate the highest price you are willing to pay, add the estimates for repairs and labor, then add an additional 10% for error or unexpected developments. Decide if it makes sense to you. 
  • Step 7 In conclusion, The difference between investors and individual buyers is the motivation. An investor are looking at numbers and profit. Do the research, educate yourself and find a local real estate professional willing to work hard for you.

IF YOU ARE LOOKING TO PURCHASE IN THE SOUTHERN CALIFORNIA EMAIL US FOR A LIST OF BANK OWNED PROPERTIES OR CALL (619) 454-2927.  WE SPECIALIZE IN SAN DIEGO, CHULA VISTA, SOUTHBAY, RIVERSIDE COUNTY, TEMECULA AND ORANGE COUNTY.