Comments on: Free Help for Homeowners in Distress http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html The InfoTube.net Real Estate Blog gives you an insider look at selling and buying homes for sale. Thu, 04 Dec 2008 21:18:26 +0000 http://wordpress.org/?v=2.6.1 By: Dean Walker http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-758 Dean Walker Thu, 14 Aug 2008 20:54:34 +0000 http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-758 I have a question- what is a short sale? I have a question- what is a short sale?

]]> By: fatoma bangura http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-400 fatoma bangura Thu, 27 Mar 2008 14:24:32 +0000 http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-400 i will like to refinance my house. please can you contact me at 571- 330- 8475 or at the above e-mail address i will like to refinance my house. please can you contact me at 571- 330- 8475 or at the above e-mail address

]]> By: Tommi Crow http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-320 Tommi Crow Mon, 10 Mar 2008 15:09:04 +0000 http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-320 Dear Elena, I think you should contact your lender immediately. You should be relentless, until they have signed off/approved the short sale. Please note that some area's of the country have a 30 moritorium on foreclosures, in order to give you time to refinance or sell. Please check that out, also. If your lender has approved the financing for your buyer, you should ask for a copy of the loan approval letter. The best advice I have is to stay on top of your lender. Force them to give you an answer or work with you on a resolution to the problem. They are extremely busy and slow to act, but the squeaky wheel gets the grease. VERY Important" Create a paper trail of your converstaions with your lender. An ideal paper trail of documentmens would be: keep copies or a written log of each call; note the time; log who you spoke with; write notes about the topic and advice; ask them to send you any offer in writing; follow up your conversation with a letter starting with "Pursuant to our conversation", then state what you understood the lender to be saying. All these things will help you work through this problem. A paper trail might also be crucial, if you need to hire an attorney to assist you. As far as the IRS is concerned, you will need to determine the amount of the short sale and developing political events before you can predict the outcome there. Best of luck Elena and let me know how things go. You can email to info@infotube.net Dear Elena, I think you should contact your lender immediately. You should be relentless, until they have signed off/approved the short sale. Please note that some area’s of the country have a 30 moritorium on foreclosures, in order to give you time to refinance or sell. Please check that out, also.

If your lender has approved the financing for your buyer, you should ask for a copy of the loan approval letter.

The best advice I have is to stay on top of your lender. Force them to give you an answer or work with you on a resolution to the problem. They are extremely busy and slow to act, but the squeaky wheel gets the grease.

VERY Important” Create a paper trail of your converstaions with your lender. An ideal paper trail of documentmens would be: keep copies or a written log of each call; note the time; log who you spoke with; write notes about the topic and advice; ask them to send you any offer in writing; follow up your conversation with a letter starting with “Pursuant to our conversation”, then state what you understood the lender to be saying.

All these things will help you work through this problem. A paper trail might also be crucial, if you need to hire an attorney to assist you.

As far as the IRS is concerned, you will need to determine the amount of the short sale and developing political events before you can predict the outcome there.

Best of luck Elena and let me know how things go. You can email to info@infotube.net

]]> By: elena melendrez http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-316 elena melendrez Sun, 09 Mar 2008 21:18:03 +0000 http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-316 we have a mortgage at 420,000 we called our bank last september and tried to negotiate a lower monthly payment we got told that it would be better to go for a short sale. we decided to sell the house and a interested family send paper work for the purchase, this was in early december we have not got a response from the bank yet our forclosure date is march 24th. getting go close to foreclosure is there another way we can keep our home and get our monthly payments lowered ? and not have owe the IRS with the negative equity we have in our home. we have a mortgage at 420,000 we called our bank last september and tried to negotiate a lower monthly payment we got told that it would be better to go for a short sale. we decided to sell the house and a interested family send paper work for the purchase, this was in early december we have not got a response from the bank yet our forclosure date is march 24th. getting go close to foreclosure is there another way we can keep our home and get our monthly payments lowered ? and not have owe the IRS with the negative equity we have in our home.

]]> By: Antonio Porcuna http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-251 Antonio Porcuna Fri, 22 Feb 2008 20:43:09 +0000 http://www.infotube.net/blog/2008/02/free-help-for-homeowners-in-distress.html#comment-251 Hi, I live in the Newark CA area. This is the best place to raise kids, because it is quiet and neighborhood is fantastic, anyway. I bought my house here 3 years ago, and I was keeping up with the payment never did I miss a payment. I have lost my job that I have stayed for 13 years, I tried not to miss payments even though I am using my IRA money just to keep up with my payment, and maybe I could find a job that will equal what I was making on my job that I lost. No luck, I have used up my retirement money short selling my house, I will probably owe IRS whatever negative equity I have for my house everything went down the drain. My wife is stressed out to were we going to live.I have 3 kids their still young. My bank account is almost negative I owe to much money on my credit cards. Please, give me some advice on what to do in regards to my house, and what is the process I need to go through. Thank you, Tony Hi,

I live in the Newark CA area. This is the best place to raise kids, because it is quiet and neighborhood is fantastic, anyway. I bought my house here 3 years ago, and I was keeping up with the payment never did I miss a payment. I have lost my job that I have stayed for 13 years, I tried not to miss payments even though I am using my IRA money just to keep up with my payment, and maybe I could find a job that will equal what I was making on my job that I lost. No luck, I have used up my retirement money short selling my house, I will probably owe IRS whatever negative equity I have for my house everything went down the drain. My wife is stressed out to were we going to live.I have 3 kids their still young. My bank account is almost negative I owe to much money on my credit cards.

Please, give me some advice on what to do in regards to my house, and what is the process I need to go through.

Thank you,

Tony

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