Call Today 1-888-877-0078Short Sale Experts in Los Angeles Housing Assist of America Continues to Help Stop Foreclosures for Owners of Distressed Properties
LOS ANGELES, Calif. July 30, 2009/Housing Assist of America – (www.housingassist.com) America’s #1 Short Sale Specialist announced a 75% success rate for helping distressed property owners during the nations housing crisis. With more than 336,173 foreclosure filings reported in the month of June, 2009 and 1,905,723 foreclosure filings, default notices, auction sales notices and bank repossessions we reported on 1,528,364 U.S. properties during the first six months of the 2009 year. Those numbers represent a 15% increase in total property filings for 2009 and the fourth straight month of 300,000 filings.
“This is a crucial time not only for the housing industry, but more so for the home owner,” said Housing Assist of America President, Aram Afshar “We talk and meet with hundreds of people a month who are on the verge of losing their home and not being able to purchase another one for 10 years because of foreclosure. For many of them, this is the biggest purchase they have ever made in their lives, and you can feel and hear the pain that comes with their situation.
Those who have filed for foreclosure understand that this will negatively affect their credit score and their ability to purchase a home in the coming years. For the hundreds of thousands who have filed for foreclosure or who are on the verge of foreclosure, many of them didn’t or don’t know that there is another option.
While foreclosure is a way out of a bad loan, there are long term consequences to this decision. On the other side of foreclosure, there is the option of a Short Sale. Short Sales place an immediate stop to foreclosure and only affects your credit rating minimally; staying on your credit report for two years and dropping your credit score by less than 100 points.
Short Sales are a way to save more than your credit score, a bad loan and the possibility of purchasing a new home in two years. It saves you the stress and gives you a little of your piece of mind back.
Take a moment to visit the Housing Assist of America website to see how you can benefit from their free Short Sale, Loan ModificationRefinancing, VA services and more.
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About Housing Assist of America
With more than 30 years experience in Real Estate, Housing Assist of America proudly services thousands of homeowners who are struggling with their mortgage payments. The company was formed in efforts to provide homeowners with the honest service that they deserve in these rough times. Housing Assist helps homeowners map out the next several years for them, in showing how certain decisions will lead them to a brighter future and we will negotiate a solution that is highly beneficial for all parties involved. Our intense focus on each specific homeowner is why we are the nations top short sale and loss mitigation specialist.
Contact Us:
888-877-0078
info@housingassist.com
www.housingassist.com
SHORT SALE PROCESS FOR DUMMIES
Own a house, owe more than it’s worth, have financial hardship, and want out? You need to short sale. First call up your lender and get the required Short Sale documentation. Next get an offer on your property, any offer because most banks won’t short sale without one. Take the offer and required documentation and submit it to your lender.
Continue to market your home and get backup offers because if your first offer was not high enough the lender will counter and tell you they want a higher offer. An ideal offer is one that is close to the appraised value of the house. If your offer is in the neighborhood of the BPO most likely the lender will green light the deal. The final step of the short sale is to begin escrow and close the transaction. This is the short sale process in a nut shell.
We can help you with the process and do it faster than any other company.
Contact us at 888-877-0078 or at http://HousingAssist.com
If you need help or have any questions, There is no charge for a Short sale or advice.
SHORT REFINANCE, A PRACTICAL LOOK:
Written by Arash Gezerseh, July 15, 2009Last week I received a call from a family that was more than $160,000 upside down on their mortgage. The call started out as a possible listing for a short sale but about half way through the application we came up with an alternative solution, a “Short refinance” through the Obama Administration’s “Making Home Affordable” program.
If you qualify, the program is excellent and may offer some homeowners the ability to refinance in the following situation: you are current on your mortgage payments but unable to refinance to a lower interest rate because your home value has decreased.
For example, this is my applicant’s situation: Current loan: $433k Payment: $3,036 Monthly (Principal+Interest) Current balance: $278k Stable income and no late payments in the last 12 months
Assuming that my client meets all the program requirements, this is what their new loan will look like:
New loan: $243,000
New payment: $1442
Monthly (Principal+Interest+PMI)
You did the math right…Less than half!
This program will not help everyone but it certainly offers a solid solution for those who qualify. A 10 minute phone call can usually determine your eligibility therefore this is obviously worth looking into. Please contact me if you would like more detailed information about the program, I would love to help you out!
HOUSING ASSIST WELCOMES ABROAD Chaz Johnson
Chaz Johnson was one of the top producing agents for Keller Williams Realty in the San Francisco bay area. He recently relocated to Los Angeles and joined Lexington Realty/Housing Assist in June of 2009. Chaz was one of the top Realtors from 2006-2009 in which he had sales that totaled over $30 million in closed transactions…He has 7 plus years of experience in the Residential & Commercial Real Estate Business. Chaz was raised in New York City and moved to the Bay Area to study and practice Real Estate. He has great knowledge of the Bay Area Market and still excels in the practice of Real Estate in both Los Angeles and San Francisco. Chaz has owned several properties in the Bay Area, and has taught his clients the same investor/lease option strategies and property management techniques that have been successful for him. His sphere of influence include Property Managers, Loan Officers, Real Estate Agents, Restaurant Owners, City Officials, etc. Chaz loves to travel all over the world and has been to many countries. He loves music, art, sports, physical fitness, golfing, chess…… Chaz’s Daily Motto is: Think Positive & you will succeed!! For all your Real Estate needs please contact Chaz at: Chaz Johnson
MORTAGE DEFAULTS:MANY ARE INTERTIONAL,STUDY FINDS
Up to 26% of U.S. homeowners who stop paying their mortgage may be doing so intentionally, not because they can’t make the payments but because they don’t want to put money into a house that’s worth less than what they owe….. Click here to read on about why you should SHORT SALE your home.
FIRST TIME HOMEBUYER TAX CREDIT..DO YOU QUALIFY?
Written by Arash Gezerseh, Mortgage Broker or Lender in Los Angeles July 9, 2009
Purchase Date: To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as “first time” buyer. They must also live in the house as their primary residence for at least three years, or they will be obligated to pay back the credit.
Paperwork: Applying for the credit will be easy - or at least as easy as doing your income taxes. Just claim it on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.
Income Restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.)
**Many experts feel that the deadline could be extended beyond November 30th 2009.
BANK EXECS ADMIT TO A LACK OF UNDERSTANDING SHORT SALES
Banks expect a fast recovery in the housing market, yet can’t grasp an understanding on a simple short sale transaction It has been made public by the New York Times that the reason these short sales are taking what seems like light years to complete, is due to the fact that they don’t understand the process.New York Times states, David Knight, senior vice president at Wells Fargo Home Mortgage, said in an interview that his bank has been working many months to reduce delays in the short sale process. He said the bank is working closely with borrowers’ agents to increase the likelihood that the listing prices on a short sale will be accepted. The lending and real estate industries have been on a crash course to learn about short sales since the housing market bust, Knight said. “The big challenge is none of us really understood the process,” he said. This is absolutely ridiculous. How is this economy supposed to recover, when the foundation of the economic crash (Housing Market), has been put on a hiatus because these so called “qualified” bank execs don’t know the first thing about processing a short sale.The short sale is the solution to most homeowners needs at the moment. Banks really need to step it up TEN gears and start doing what they are paid to do.Get us out of the mess they got us in!!
SHORT REFINANCE. MYTH OR REALITY?
Written by Arash Gezerseh, Mortgage Broker or Lender in Los Angeles July 8, 2009 Financing in West Los Angeles
