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http://www.centralorproperty.com/y_key_44f119043f208591.html.
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Robert Page
3818 SW 21st Pl, Suite 201
Redmond, OR 97756
Office: 541-548-3468
Fax: 541-546-2824
Cell: 541-279-0250
Email: robert@centralorproperty.com
Building Long-Term Relationships!
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Our Consultations Require No Obligation
Foreclosure isn't necessary. There is a way out and I can help you negotiate with your lender to pay Real Estate listing fees and possibly forgive your outstanding debt.
We are in a decling Real Estate market and if you are in jeopardy of losing your home, the sooner you act the better.
Contact me to find out how I can help you avoid foreclosure and get your house sold quickly. I have saved many homeowners from the foreclosure process. I have successfully negotiated with lenders many times, including forgiveness of debt, paying all realtor and escrow fees and in some cases paying part of the buyer's down payment and closing fees.
Lenders want to avoid foreclosure!
Lenders do not want to own your property. They need it off their books so they can do what they do for a living - Loan money to home buyers! When they own foreclosed homes, the Feds don't loan them the money they need to make a new loan. Lenders are more than willing to, and prefer to negotiate.
It Costs Lenders less to Negotiate
If a lender forecloses on your home they have to pay attorneys, third parties, contractors and even Realtors to get rid of the property. It costs them less money to negotiate with you to get the home sold before foreclosure!
You can still buy a new home!
If done soon enough and in an expert manner, you can still buy a new home - legally! Lenders are more forgiving of those who help resolve problems. When you negotiate with the lender to sell the house and get it off their books, you look much better to future lenders than those who just "give" it back to the bank.
Update on Borrowers with foreclosures, short sales, bankruptcy
Recently, Fannie Mae made revisions to their guidelines for borrowers who want to buy a home, but have had a foreclosure, short sale or bankruptcy. This is important info for you to know since it will impact when you can buy a home again. Note the differences between short sales and foreclosure – it is significant!
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Old requirements to get a loan to buy a home
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New requirements to get a loan to buy a home
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Short Sale
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No existing policy
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2 years from completion date. No exceptions.
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Foreclosure
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4 years from completion date.
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5-7 years from completion date with 10% down on personal residence and 680 credit score. After 7 years, no restrictions.
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Foreclosure with extenuating circumstances
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2 years from completion date
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3 years from completion date with 10% down on personal residence.
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Deed-in-lieu of foreclosure
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4 years from completion date.
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4-7 years from completion date with 10% down. After 7 years, no restrictions.
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Deed-in-lieu of foreclosure with extenuating circumstances
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2 years from completion date.
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2-7 years from completion date with 10% down. After 7 years, no restrictions.
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Bankruptcy (all but Ch 13)
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Eligible for new financing after 4 years from discharge
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4 years from either discharge or dismissal
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Bankruptcy Ch 13
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2 years from discharge
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2 years from discharge. 4 years from dismissal unless extenuating circumstances, then 2 years.
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Knowledge is Potential Power
Having the knowledge necessary to avoid the stigma and long lasting effects of foreclosure is only potential power. Acting quickly on that knowledge will give you the power to resolve the issue, allowing you to move on and improve your life and financial situation.
No matter how bad your situation, you have choices
Some are better than others and most should be done in consultation with a professional wheter it be an attorney, accountant or Real Estate Broker. Perhaps all three. Seek professional advice and you will find the best solution possible, saving you money and unnecessary stress in the long run.
What Next?
Give me a call, register below or drop me a line. I like to meet my clients personally so be prepared to meet a real person!
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