Need pre-foreclosure help ASAP

[sdrealtor]

“We have had success negotiating Short Sales.” That was your quote, word for word. Dont come around here holding yourself out as an expert on something while shilling for business unless you can back it up. Nothing you have posted does so. We are truly here to help each other and that is why I am here. Not once in the nearly 2 years that I have been here have I looked to get business here. Your first post here was looking for business not offering free asistance online. End of story.

[SD Renter]

My Internet research indicates that a deed-in-lieu-of-foreclosure and an actual foreclosure affect one’s credit the same. Therefore an actual foreclosure might be the more favorable of the two because one would get to occupy the property for longer and possible get paid “cash for keys” after the foreclosure to move out. A slight benefit to the deed-in-lieu would be fewer late pays, but for most people this very minor credit benefit would not offset the financial loss from moving out many months sooner.

A short sale is significantly more favorable on ones credit and would therefore be a better choice if one could be guaranteed to not get hit with a deficiency judgment afterward and guaranteed not to have to pay any IRS ordinary income tax on the lender’s shortfall. I’m a short sale expert Realtor and can make the above claims for 20 of my current 21 short sale listings. http://www.HomeAuctionAdv.com.

Yes, there is debate as to my ability to makes these claims. However, I am standing behind my research with confidence. Regarding taxation, the California Assc of Realtors legal team may disagree with me, but the US House of Representatives sided with me on Oct 4, and I’m confident the Senate and President will follow suit.

I’m not a frequent pigginton reader, so please don’t be offended if I don’t respond to any replies to this post. Thanks!

[SD Renter]

My Internet research indicates that a deed-in-lieu-of-foreclosure and an actual foreclosure affect one’s credit the same. Therefore an actual foreclosure might be the more favorable of the two because one would get to occupy the property for longer and possible get paid “cash for keys” after the foreclosure to move out. A slight benefit to the deed-in-lieu would be fewer late pays, but for most people this very minor credit benefit would not offset the financial loss from moving out many months sooner.

A short sale is significantly more favorable on ones credit and would therefore be a better choice if one could be guaranteed to not get hit with a deficiency judgment afterward and guaranteed not to have to pay any IRS ordinary income tax on the lender’s shortfall. I’m a short sale expert Realtor and can make the above claims for 20 of my current 21 short sale listings. http://www.HomeAuctionAdv.com.

Yes, there is debate as to my ability to makes these claims. However, I am standing behind my research with confidence. Regarding taxation, the California Assc of Realtors legal team may disagree with me, but the US House of Representatives sided with me on Oct 4, and I’m confident the Senate and President will follow suit.

I’m not a frequent pigginton reader, so please don’t be offended if I don’t respond to any replies to this post. Thanks!

[SD Renter]

My Internet research indicates that a deed-in-lieu-of-foreclosure and an actual foreclosure affect one’s credit the same. Therefore an actual foreclosure might be the more favorable of the two because one would get to occupy the property for longer and possible get paid “cash for keys” after the foreclosure to move out. A slight benefit to the deed-in-lieu would be fewer late pays, but for most people this very minor credit benefit would not offset the financial loss from moving out many months sooner.

A short sale is significantly more favorable on ones credit and would therefore be a better choice if one could be guaranteed to not get hit with a deficiency judgment afterward and guaranteed not to have to pay any IRS ordinary income tax on the lender’s shortfall. I’m a short sale expert Realtor and can make the above claims for 20 of my current 21 short sale listings. http://www.HomeAuctionAdv.com.

Yes, there is debate as to my ability to makes these claims. However, I am standing behind my research with confidence. Regarding taxation, the California Assc of Realtors legal team may disagree with me, but the US House of Representatives sided with me on Oct 4, and I’m confident the Senate and President will follow suit.

I’m not a frequent pigginton reader, so please don’t be offended if I don’t respond to any replies to this post. Thanks!

[sdrealtor]

Thanx John for your contribution,
You’ve got a wee bit more credibility than the last guy. Good luck with all those listings.

[sdrealtor]

Thanx John for your contribution,
You’ve got a wee bit more credibility than the last guy. Good luck with all those listings.

[sdrealtor]

Thanx John for your contribution,
You’ve got a wee bit more credibility than the last guy. Good luck with all those listings.

[blackbox]

“Will assist short sale for food!”

Haha, this is getting good!

[blackbox]

“Will assist short sale for food!”

Haha, this is getting good!

[blackbox]

“Will assist short sale for food!”

Haha, this is getting good!

[SD Realtor]

SD Renter do you have any advice on how to get a quicker response time back from the lenders? I am not a short sale expert, just an engineer who does real estate. I have a short sale listing and I have two offers in with two seperate buyers on short sales. We are frustrated because in both cases those offers have been in the lenders hands for over 3 weeks now. If you don’t respond I understand.

SD Realtor

[SD Realtor]

SD Renter do you have any advice on how to get a quicker response time back from the lenders? I am not a short sale expert, just an engineer who does real estate. I have a short sale listing and I have two offers in with two seperate buyers on short sales. We are frustrated because in both cases those offers have been in the lenders hands for over 3 weeks now. If you don’t respond I understand.

SD Realtor

[SD Realtor]

SD Renter do you have any advice on how to get a quicker response time back from the lenders? I am not a short sale expert, just an engineer who does real estate. I have a short sale listing and I have two offers in with two seperate buyers on short sales. We are frustrated because in both cases those offers have been in the lenders hands for over 3 weeks now. If you don’t respond I understand.

SD Realtor

[patb]

[quote=needhelpinoside]Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.[/quote]

I’m going to say,

1) You need a real estate attorney

2) look your credit is hosed

3) You can’t afford your mortgage.

honestly,

you should look at stopping payments, filing bankruptcy, and buying time. save your money
for a rental and get enough cash that you can move on short notice.

lots of people are in too deep, you are just another bad story.

screw the banks, keep cash, move on with your lives.

PS: Consider selling one of the kids for parts. Lots of cash in a healthy kid and it will keep the others in line 🙂

[patb]

[quote=needhelpinoside]Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.[/quote]

I’m going to say,

1) You need a real estate attorney

2) look your credit is hosed

3) You can’t afford your mortgage.

honestly,

you should look at stopping payments, filing bankruptcy, and buying time. save your money
for a rental and get enough cash that you can move on short notice.

lots of people are in too deep, you are just another bad story.

screw the banks, keep cash, move on with your lives.

PS: Consider selling one of the kids for parts. Lots of cash in a healthy kid and it will keep the others in line 🙂

[Author]

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