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REAL ESTATE MADE SIMPLE

AVOID LOSING YOUR HOME TO FORECLOSURE!

What is Foreclosure?


Foreclosure involves a lawsuit in which a bank, mortgage company, or
any creditor can take an owner's property to satisfy a debt.
The bank or lender may actually take the property, or may have the
property sold to pay off the debt. As a result of the foreclosure, the
owner loses whatever rights he or she had in the property.

WHAT ARE YOUR OPTIONS?


When a homeowner faces foreclosure, there are various options available. I will try to explain in simple terms some of the most popular ones:
Reinstating The Loan is the most efficient method to stop foreclosure proceedings and to bring your delinquent payments current, making the loan up to date. However, there are costs you have to pay over and beyond the late payments, such as additional late charges and attorney fees.
Selling Your Home against the foreclosure clock is very tricky if not done the right way. Lenders typically don't like delays. If your house is not sold in time for foreclosure, there is no remedy. The best way to go about selling the home in this situation is to contact a real estate agent that is familiar with foreclosure investing. They may be able to put you in contact with investors that will be happy to buy your home.
Submitting A Deed In Lieu Of Foreclosure is the procedure in which you the homeowner voluntarily give the house back to the lender. The lender, however, is not obligated to accept it. You should ask the lender how they would report you to the agencies. Should your lender refuse your deed, they are required by law to file a Notice of Non Acceptance with the county recorder.
Pre-Foreclosure Sale:This will allow you to avoid foreclosure by selling your property for an amount less than the amount necessary to pay off your mortgage loan. You may qualify if: the loan is at least 2 months delinquent, you are able to sell your house within 3 to 5 months; and a new appraisal (that your lender will obtain) shows that the value of your home meets HUD program guidelines.
Mortgage Modification: You may be able to refinance the debt and extend the term of your mortgage loan. This may help you catch up by
reducing the monthly payments to a more affordable level. Most lenders can work with homeowners even if they have poor credit and have a foreclosure date. Chances to obtain a loan when notice of default is
served on a homeowner are very slim. Notice of default is normally sent to the homeowner after 90 days of the mortgage payment being late.Your solution will depend on your financial status, the mortgage's default status, the type of loan you have and the applicable foreclosure laws in your state.

AVOID LOSING YOUR HOME TO FORECLOSURE!
BEFORE IT IS TOO LATE!
THERE ARE ALTERNATIVES THAT CAN QUICKLY
ELIMINATE YOUR STRESS & FRUSTRATION

HOW IT WORKS


STEP 1. CONTACT US:
Call our office at (562) 981-6014. If you get voice mail, please leave a message and we will call you back within 24 hours.
Step 2. The interview:
Our first call will be strictly an information gathering call. We will need to get the details about your house, your mortgage, and your
needs. With this information, we will be able to structure a customized solution that best fits your needs. Usually, it will take us from 2 to 24hours to do the research necessary to create your solutions. Normally, we are able to make an offer on the first call.
Step3. Solution proposal:
Once we have completed our research, we will call you back with one or more solutions to help fit your needs.

Don't wait until it's too late!
Call us now, so we can help!

BY Fatai "Ty" Femi Yusuff
BS Real Estate Finance, Cal State Univ. Long Beach
Broker/Managing Principal / House Masters Real Estate Co.
Residential/Income Properties Investments/ Loans >
3605 Long Beach Blvd. Ste. 406 Long Beach, CA 90807
Cell: 562-209-2274*Fax: 562-981-6017