In trouble with your mortgage? Feeling a bit desperate? What to do, what to do?
Don’t fall for a scam that offers you quick and ready help. Instead, call a counselor.
Counselors work, according to a recent study by the Urban Institute. Since 2007, when the National Foreclosure Mitigation Counseling program was founded to help distressed homeowners, $410 million has gone into the program. Over 750,000 were helped through the end of 2008. These borrowers were 60% more likely to keep their homes if they received counseling. Their monthly payments were decreased to an average of $454.
Part of the counselor’s job is to help homeowners evaluate whether they can afford to keep their homes and then to help them gather the loan documents the lender needs to consider a modification.
This is an interesting finding in view of recently released statistics that 51% of loan modifications in the last year were in default by the end of 2009. Did something change in the finances of those counseled? Did counseling standards change as new federal programs encouraged more people to seek a counselor? Were counselors too optimistic and those served so anxious to keep their homes that they agreed to a payment schedule that was still too high for their income? Further studies into why re-defaults occurred in 2009 will undoubtedly reveal some needed insights.
The newest federal program announced that March 26 attacks the double-headed monster of negative equity and unemployment. Most analysts of past housing remedies blame the failure of lenders to reduce principal and bring housing values and loan values more in sync. The new program offers lenders incentives to offer principle reduction and provides temporary help to people who are unemployed. Even though the program is only hours old at this writing, no one expects that this is the silver bullet that will “fix housing” either.
Counselors are constrained by available programs to offer their clients. Regardless of the program, counselors link those who can be helped to ways to get help even if the help is not the final answer to their problems. This stark reality does not undermine the findings from 2008: Counseling works!
Want to sell your house fast? Your house worries can be behind you in two weeks by callingExpress Homebuyers. We buy homes for cash and can have $2,500 in your hands even before your deal closes.
Current home sellers know that they may have to wait longer to find a buyer these days. The days on market (DOM) in the greater DC area is declining, but if you have a “situation” and want or need to sell now, even a couple months is a long time to wait.
When you are in a jam, there are always people willing to exploit your plight, but the so-called helpers aren’t always honest. You may need help, but you don’t want to make things worse by hooking up with a company that either can’t deliver or has no intention of delivering once it has your money.
If you are in a position where you want to sell your home quickly, Express Homebuyers is an honest company with both reputation and resource. We will buy it from you for cash and complete your deal within a couple weeks. There is no charge for our services. And, we are Better Business Bureau accredited.
Who uses Express Homebuyers? Many different kinds of people!
People who have trouble selling because they do not have equity in their home.
Those who have experienced the death of a loved one or the need to settle an estate.
People who are tired of being a landlord.
Those who need to sell because of a divorce.
People who are behind on payments or facing foreclosure.
Anyone who bought a new home, but can’t sell the old one.
People who own vacant houses or houses that need repairs.
Those with liens or title problems.
People working with a real estate agent who hasn’t come through as promised.
Anyone facing a job transfer or relocation.
People from all walks of life who share the need or desire to sell their homes, regardless of repairs needed, can sell for cash, close quickly, and sell to a reliable company accredited by the Better Business Bureau – Express Homebuyers. Contact us today at 877-804-5252 or visit our website to get the process started. We can wrap up your deal in a couple weeks and even offer you a $2,500 cash advance to help you plan your move.
Times are tough, and some homeowners feel defeated by impending foreclosure. Some try to work out a solution with their bank. Others try to do a short sale. Terry Hoskins of Moscow, OH, tried another approach. After years of arguing with the River Hills Bank of New Richmond, OH, as well as the IRS, Hoskins bulldozed his house rather than let the bank take it away.
He had paid over $200,000 on his $350,000 home, as well as numerous attorney fees and thought the threats from the bank and IRS were unfair. Rather than being victimized, he powered up the dozer. Hoskins, also in trouble with his commercial property that he built from the ground up, threatens to leave the land in the same barren condition he found it.
Express Homebuyers buys homes from homeowners. A simple call could yield you a $2,500 advance and a way out of your housing debt in about two weeks. Contact us today for all the details.
