I don't think we're in Kansas anymore...
Welcome to; November 16, 2011
...the much promised economic recovery, a turn around in housing prices and a bailout for you is still, somewhere over the rainbow...
The Good News Is...
...that lenders have begun to realize that foreclosing on you is not necessarily in their best interest. The robo-signing, bank foreclosure schemes are coming back to cause a new problem which threatens the very foundation of Real Estate values. It's called marketability of title. We are beginning to see that banks may not have insurable title after a foreclosure. In other words, the banks are beginning to see that it is in their interest to let you do a short sale and not have to foreclose.
Why is a Short Sale better than a foreclosure?
There are many reasons but the one which I find compelling today is called "Default Judgement." A default judgement is a finding by the court in a PA foreclosure case. It is a judgement against you for the entire amount of the mortgage plus penalties and interest. The problem with these judgements is that they don't go away. Most attorneys will tell you that these judgements are not legal and I believe that they are right. If you want to hire an attorney you may be able to go to court and the judge may satisfy the judgement.
Of course, that will take some time and it will cost you... and that will solve the problem? Yes today, and maybe tomorrow, but maybe not next week.
The problem is that as long as the judgement remains against you no one will want to give you a loan AND you can never sell Real Estate because as I was saying your title is not fully marketable.
Do you see where we are going here. The title to any Real Estate that you ever own for the rest of your life and the lives of your heirs can not be be sold if it can not be insured by title insurance and the problem with title insurance is that it is not real insurance. Its not real insurance because it is not backed by any pool of money or analysis of risk. Title insurance is just like the mortgage backed securities and the credit default swaps remember AIG in other words A SCAM... So if there is ANY Risk greater than zero no one will write the title insurance policy because they ave no ability to pay if there is a claim against the policy. The bottom line is you could be screwed for the rest of your life.
The reason you will never hear this on the news is because it would destroy confidence in Real Estate markets and no one would buy any Real Estate. The reason I can say this here is because let's face it only 6 people are actually going to read this far and understand what I am saying. If you are one of those people please send an email and let me know. I'm counting.
I specialize in short sales because I want to help people not ruin their lives and I hate the banks who caused your problem. I will fight the bank to get you out of a judgement, have your loan satisfied and maybe even get a few dollars for you. I will make the bank pay me and never charge you one dime. Initial consultations are free for anyone. So call me, Robert Peronne at 215-888-3061 or email me at robertsells@gmail.com today.
Ask yourself 3 simple questions;
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Do I owe more than the house is worth?
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Is my payment more or less than I would pay in rent?
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Am I experiencing temporary or permenant financial difficulties?
Whether we are talking about an investment property or the home that you love, what we are really talking about is a financial decision that may affect you for many years to come.
What can you do?
The first thing to know is what not to do. Do not pay in advance or sign your deed over to someone who promises that they will help you keep your home. Scammers are out there trying to take advantage of people in trouble and there are free services available to you. My services are always free to the property owner. I charge the lender.
If you want to learn more about the short sale process and other foreclosure alternatives explore this site and check out the resource links on the right. There is more information here than you probably want to know.
The easy answer is give me a call. I promise to give you my best advice whether you like it or not and whether I will make a sale or not.
Remember Sherlock Holmes' Law? - After eliminating the impossible, whatever remains, no matter how improbable, is the truth.
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Sell the property
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Negotiate with the lender
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Dispute the Foreclosure
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Do Nothing
Sell the Property
If selling is your choice I am the expert. I can help you sell and recover any equity that you may have OR negotiate with the lender to accept a short payoff. There are no fees to you, the lender pays me. In most cases you will not need an attorney or any other service provider.
Negotiate with the Lender
If you need to have your payment reduced you need to meet with a HUD approved housing counselling agency. These agencies receive grant money from the U.S Government to help you. There are little or no fees to you.
Any person or business who offer to perform this service for a fee is probably a SCAM. Of course there are certain circumstances where you will need other professional help BUT go to the housing counsellors first. I am not a housing counsellor and can not assist you if you in negotiating a loan modification or workout but I can give advice.
Dispute the Foreclosure
If you feel that the foreclosure is not legitamate for any reason then you need to speak with an attorney who has experience in foreclosure litigation. They will charge you a retainer fee.
If you can not afford an attorney you can represent yourself. Go to the courthouse, talk to the clerk, download the papers that you need file from the internet and do the best you can. Fight back! As a Real Estate Broker I am unable to assist you in legal matters but I will be happy to speak with you free of charge.
Do Nothing
and wait several months for the Sheriff to put you out of the house. While I would not recommend this choice it is a choice that some people decide to make. What is most important is that you make a choice! Do not sit back and wait to be a victim.
Bankruptcy
Notice this is not a choice for people who are facing foreclosure. If you have other financial issues that you can not resolve you may need to speak to a bankruptcy attorney. It is true that a bankruptcy will delay a foreclosure action but any reasonably competent attorney can also delay a foreclosure. You can go to court by yourself and have a foreclosure delayed. Even if you are facing bankruptcy there are still good reasons to sell the house or negotiate with the lender before you file for bankruptcy.
Forclosure Rescue Scams
Reason #1 to only talk to licensed Real Estate Professionals and Non-Profit, Approved Counselling Agencies.
You are a target and you are at risk. Don't act out of desperation. Empower yourself. Know your alternatives and make an informed decision.
We Are Here To Help!
Pre-Foreclosure and Short Sale Department Maxwell Realty Company 1736 Pine St. Philadelphia, PA 19103 Robert Peronne, Associate Broker (215) 888-3061 robertsells@gmail.com Short Sale Help in Philadelphia, PA. Foreclosure Help in Philadelphia, PA. Phillyshortsale411.com is the site for information on Pre-Foreclosure and Short Sales in Philadelphia