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whiskeytangofoxtrot, if I were a betting man I would say prior military or possibly current. I will explain as a general overview what I do, only because you asked. I am the principal and have run the company on a local level, Jacksonville, Florida, until March of this year. My primary business is to assist homeowners that are in foreclosure keep their homes, through Forbearance and Loan Modification. Occasionally, I run across homeowners that are able to refinance and I have a friend that will take care of them in 38 states. For the most part we assist homeowners with workouts. As you stated, their (the mortgage company) personnel handle these processes but like most major institutions they have limited methods for handling the issues (inside the box), and it is definitely not in the best interest of the homeowner. I am not sure if you are able to speak with homeowners that are in foreclosure but more times than not they view the bank as the bad guy and the bank has the same view toward the homeowner. My company steps in between the homeowner and the bank who has now given the homeowner a different answer every time they called and even worse given them a plan that sets the homeowner up for failure. We mitigate for the homeowner with a comprehensive plan that will get them back on track and monitor the process. We charge the homeowner a small fee for our service that will cover our admin expenses. We help everyone that can afford their home get back on track. That is only about 20% of homeowners in foreclosure as a general rule. The ones that are overleveraged and have had hardships that have not been resolved we assist them with a different model which I am sure you have heard about, the short sale. Unfortunately, I have to run and will continue later this morning, Oh the Suspense, LOL.

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Including, The Better Business Bureau. I am confused about your point. Fortunately, for United State Citizens we have choices, If you are not interested in this thread please do not read.

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Thank you for your kind words. No, I do not have an office in San Diego but have opportunities for affiliates in many cities; I think it may be against the rules to discuss in this forum. For a second lien, as with any lien, a homeowner offers collateral in the form of assets. In the case of default, lien holders generally renegotiate terms, but they have the right to sell the collateral to recover. Second lien holders are second in line to recover money from a collateral sell-off, behind senior (first-lien) holders but ahead of unsecured debt. In a short sale the second, third… are where the BIG money is made. I typically offer 10-15% for the payoff for junior liens. If you are a good guy in the business you negotiate terms so for short pay the lien holder does not have a deficiency judgment. Deficiency judgments in many jurisdictions are determined by “fair value” legislation. This requires the deficiency to be calculated using the difference between the mortgage debt and the fair value of the real estate. [email protected]

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no_such_reality, I have provided some solid content and I do not think name calling is appropriate in any forum. Your name speaks volumes.

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Lenders are giving substantial discounts to move property. Lenders are not in the real estate market they are in the money lending business and they need to keep performing notes and dump nonperforming to make Board and Corporate investors happy. 5% discounts in the California market are probably equal in cash value to 75% in non California market. When I say auctions I am talking about opening the property for viewing for a week to the general public and then opening the property for bidding in a round robin auction that is not absolute. We invite potential buyers to bring home inspectors, realtors etc. to check out house and we disclose everything we are aware of at the time of viewing. We are doing direct sales to investors to move property quick at a deep discount and we will make up difference in volume making investors happy. Hope this helps!

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Thank you for your interest and I have some not so good news for you in California in regards to forbearances and Loan (Mortgage) Modifications. The definition of Forbearance is a formal agreement by the mortgage company to "forbear", or stop moving forward with the foreclosure process on a defaulted home loan, the mortgage company will agree to reinstate the loan. Forbearance allows a homeowner to keep their home by temporary increasing their mortgage payments for a period of 6 – 18 months together with a portion of their arrearage paid up front. Once the arrearage is paid the mortgage payment drops back down to their regular monthly payment. Loan Modification requires a bank to rewrite all loan documents. There are 2 main types 1. Increased Payment, Same Term. The arrearage is added to the loan balance and the payments are recalculated. Monthly payments are increased and do not go down. Advantage is that the homeowner does not have to come up with a chunck of the arrearage. Homeowner works on credit and refinances for better rate. 2. Increased Term – Same payment, pretty self explanatory. California issue (not like other states) a. [California Civil Code 2945(c)(1)]b. [California Civil Code 1695 – 1695.17]Law defines consultant as person who offers or performs for compensation any service for a homeowner in foreclosure, which person represents will, in any manner1. Stop or postpone foreclosure sale2. Get mortgage holder agree to a forbearance;3. Obtain an extension of period for owner to reinstate mortgage;4. Obtain a waiver of any acceleration clause, making loam immediately due in full if homeowner is delinquent on payments; or5. Save the owner's residence from foreclosureBasically if a foreclosure consultant contracts with a homeowner to obtain a forbearance and then ends up doing a short sale it is a violation of the law and the homeowner can bring suit within 4 years of purchase.  There are very serious fines including mandatory punitive damages equal to at least 3x the owner’s actual damages, including the value of any lost equity.  There must be a complete separation between company that tries to negotiate a forbearance deal and the person or company that buys the homeowners property in default if the forbearance can not be obtained.

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Mexico, you are correct we just started the process of offering negotiated short sale deals to investors. We were auctioning properties in the past but now we thought we would offer to investors at a discount. The site you are looking at is really for end users that are in foreclosure and need assistance. (In fact if you Google the term “stop foreclosure avoid bankruptcy” we are #1). We are in the process of building a site for investors that will be pretty kick but-. I am posting to see if there is an interest out there for these types of deals.
The reason I do not post the address for the properties is that these deals have been negotiated but we have not identified a buyer with the mortgage company so they are still in process, they will be basically 75% LTV or lower. We are working a few short sales in California that will be offered in the future. Oh well, hope I did not offend anyone out there we are just investors trying to get creative and offer great deals. Next post will be questions or comments, thanks to all of you that emailed and inquired about website opportunities.

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My purpose for the post was to make people aware of our short sale deals, but I can also provide content on any questions you may have about the process of saving homes or short sales. This is kind of my litmus test to see if there is interest. No selling but if you want you can sign up to get on our email list and get emails when new properties are posted or special events. Click Here

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Obviously, foreclosure are increasing at an alarming rate Data from RealtyTrac. The deal pricing we discussed is based on the home value typically the deals are offered at 70-75% LTV (Loan to Value). We are offering the negotiated deal for a fee, again based on home value but you will get the home at about 75% LTV. We put your name on the contract and you will get financing or cash to purchase and we can find Hard Money (should be called easy money, easy to get but hard on the rate) if needed. -The rewriting of the note is called a loan modification, which we do everyday as well as forbearances to assist homeowners keep their homes. If a homeowner has positive income we can save their home which happens everyday.   The homes we are offering at 877YouKeep are from homeowners that can not afford their home or from other investors that want a fee for their work. We are in the trenches with the lenders everyday helping homeowners nationwide. It is a great feeling to be able to help, no matter what the under educated believe.

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You can also join our Foreclosure lead generating service. http://www.877YouKeep.com. I will go into further detail later today or in the near future. Ok, I am back to give more detail. We are offereing exclusive rights to cities that also include a website. That means 1 person per city. We have a backend database that will send leads directly in your inbox from your site and also 877youKeep.com site. The cost of affiliation is $50.00 per month (not kidding), which includes the website and hosting. We waive the activation fee $200.00 if you are willing to follow our easy instructions on writing content. We will coach you in writing the content in order to optomize your site. The site we are offering you is a Stop Foreclosure Sell Your Home site. If someone wants to keep their home there will be a link to 877YouKeep.com and the lead will also be forwarded to you. Lastly, if you are not familiar with the business we have a backend office to work your forbearance deals and also your short sale deals. This is a high overview of our business model. If you are interested click here

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