Avoid Foreclosure

How to buy Government Foreclosures

November 27, 2010

Anyone can by government foreclosures in Arizona (otherwise known as HUD homes). What are HUD homes? The U.S. Department of Housing and Urban Development (HUD), becomes the property owner of 1 to 4 unit residential property with FHA-insured mortgages to recover losses on foreclosure claims.  When a home with an FHA loan (meaning the loan was [...]

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Home Buyer Incentives

November 2, 2010

If you haven’t heard, Fannie Mae is currently offering seller assistance incentives. The incentive is expanded to real estate agents as well. Qualified homebuyers who will be owner-occupants can receive up to 3.5 percent of the final sales price toward closing cost assistance, including a home warranty, if desired and available. In addition, selling agents [...]

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Does My Lender Have to Modify My Loan?

September 13, 2010

If you are one of the thousands of Americans trying to avoid foreclosure you may find this piece worth reading.  It’s not easy to avoid foreclosure, but it can be done.  You own your home until the trustee sale and can try for a loan modification or short sale until then.  Lenders are not obligated [...]

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Does Arizona Anti-Deficiency Statute Help Investors Too?

August 13, 2010

Arizona real estate investors often wonder if they are protected by Arizona’s anti-deficiency statutes.  On the other hand, Arizona homeowners, wonder why investors are protected.  Although we often think of real estate investors as rich guys, that buy up a bunch of homes and rent them out or flip them, this is not usually the [...]

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Is Deed-In-Lieu of Foreclosure as Bad as a Foreclosure?

July 24, 2010

DEED-IN-LIEU One question that I am often asked:  Is Deed in Lieu as bad as foreclosure? First, allow me to explain what a deed-in-lieu of foreclosure is.  What is deed-in-lieu? The Borrower transfers ownership VOLUNTARILY to the Lender to satisfy a loan that is in default. It is a common misconception that DIL is just [...]

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FNMA guidelines for buying a home after you have been through a short sale

July 13, 2010

Homeowners often call me to and ask, “how do I stop foreclosure?”  The first thing I usually ask is, “do you know if your loan is owned by fannie mae?”  There is no one proven way to stop foreclosure.  The process varies from state to state and from lender to lender.  However, this is not [...]

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Selling my home short of what I owe when I have 2 mortgages

July 10, 2010

The only way to hold a short sale to stop foreclosure on your property is if both the primary lender and the HELOC lender or second lien holder agree. In addition to the money recouped by the sale you may be required to pay a certain amount to both lenders in order for the account [...]

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5 Options To Consider When Your Mortgage is Upside Down

July 3, 2010

  This post covers five options for homeowners faced with an upside down mortgage. I will cover more ways to avoid foreclosure at a later date. Allow the foreclosure to take place Request a Deed-in-Lieu Bring the loan current/out of default  Workout an affordable payment with your lender Trial loan modification – HAMP  Home Affordable Modification Program [...]

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What to do if I miss a house payment

July 1, 2010

What do I do when I miss a mortgage payment? 1. Call for help—it’s the most important thing you can do. Don’t make a bad situation worse. Ignoring your situation won’t make it go away. Notify the bank as soon as you know your payment will be late. Calling when you are 30 or 60 [...]

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How Do I Make My House Payment More Affordable

June 27, 2010

HOME AFFORDABLE MODIFICATION PROGRAM Who is eligible? 1. Borrower is delinquent or faces imminent risk of default 2. Property is borrower’s primary residence (may have moved for job) 3. Pre 2009 loan origination 4. Unpaid principal is no greater than $729,750 5. Payment exceeds 31% of gross income Mortgage payment is adjusted to 31% of [...]

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The Queen of HUD
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Realty One Group
4041 S. McClintock Rd Ste 310
Tempe, AZ 85282

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