To Log in or Sign Up for My Property FinderClick Here

Betty Jean Blanco

Direct: (732) 305-0305
Send me an Email

 

Do you know of someone who is falling behind on mortgage payments or facing foreclosure?

Are You Facing Foreclosure?

Do You Owe More On Your Home That It Is Worth?

Are You Struggling To Make Monthly Mortgage Payments?

Have You Been Served Any Legal Notices?

As a CERTIFIED DISTRESSED PROPERTY EXPERTS?  (CDPE) in the State of New Jersey, I can give the expertise necessary to save your credit, relieve the uncertainty, and most of all, help your family. Whether you qualify for a loan modification or mortgage modification, a short sale, a quick sale, we can help you avoid foreclosure.

I am a professionally trained Realtor who has been specifically trained on how to negotiate a settlement with your current lenders! 

Have No Fear... You Are Not Alone! Even if you have already been told by another Realtor, an attorney, or even your lender that you do not qualify, I may be able to help. And there is never a charge for the FREE Initial Consultation.

If you or someone you know is having difficulty making monthly mortgage payments due to financial difficulties created by any of these conditions, I can help ...

 

 

?

Unemployment

 

?

Illness

?

Reduced Income

 

?

Job Relocation

?

Business Failure

 

?

Business Failure

?

Divorce or Separation

 

?

Incarceration

?

Excessive Debts

 

?

Military Service

?

Medical Bills

 

?

Damage to Property

?

Death of Spouse

 

?

Lawsuit/Judgment

?

Payment Increase or Mortgage Rate Reset

 

?

Any other reason

 

 

As a "CERTIFIED DISTRESSED PROPERTY EXPERT?", I can help SAVE 8 out 10 families from going into Foreclosure! But the clock is ticking! You must act quickly.

 

 
 
 
 

I CAN EASE YOUR FRUSTRATION!

There are Alternatives...

 

FORECLOSURE IS NOT THE ONLY WAY OUT!

 

National statistics show that over 2 Million people, or 4.5% of all mortgage holders, are currently in Foreclosure, and approximately 1 in 10 are currently in default. Over 70% of all homeowners that lost their home to foreclosure last year did so because they were "NOT" well informed and did "NOT" know their options.

THE GOOD NEWS - Your bank DOES NOT want your home, especially in this market, BUT they will take it if you do nothing! They want to work with you, but they are very busy right now and time is of the essence.

 

Your growing list of options include:

 

1. Reinstatement - If the reason you missed your mortgage payments is temporary, you can reinstate the mortgage right up to the bank sale. A simple reinstatement requires a one time payment of all delinquent funds in full. Perhaps a loan from your 401K or a family member might make sense IF you can pay back the short term loan.

 

2. Forbearance or Re-Payment Plan - If the issue that caused the missed mortgage payments was temporary, but you are not able to make a onetime reinstatement payment, a forbearance or re-payment plan might be negotiated. Do not sign a Forbearance Plan without having a competent attorney review, there can be some land-mines thrown in by your lender. Never sign anything that waives your right to later file bankruptcy.

 

If your loan is an FHA loan, go to http://www.hud.gov/offices/hsg/sfh/nsc/fawpc/cfm to learn how to get an interest FREE loan to bring your account current. The program is called the Partial Claim option, and if you qualify could provide up to 12 months of relief in the form of an interest free loan not due and payable until you pay off your first mortgage or sell the home.

 

3. Sell the Property - If you have equity in the property, you can hire a real estate consultant and Realtor, like me, to help you get the property sold quickly and cure the foreclosure. You must be aware of the foreclosure timeline and price your property accordingly.

 

4. Rent the Property - If your payments are low enough that a rental situation can help you keep up with your mortgage payments, this could be part of a good short term solution to help you get your finances back on track.

 

Note of Caution: If you as the owner do not occupy the home, you will have fewer options available. Renting or vacating the property should only be done after careful consideration of your best options.

 

5. Refinance - If you have verifiable income, sufficient equity in the home, and your credit hasn't been too badly damaged, this option can get you some breathing room while you restructure your financial situation. I can recommend several outstanding lenders who work with refinancing even in difficult situations.

 

6. Mortgage Modification, also called Loan Modification - An increasingly popular option which changes the terms of the original mortgage is loan modification. This can include lowering your interest rate, increasing your amortization term, extending the maturity date, and possibly even reducing the principle balance.

  

Your lenders "Loss Mitigation Department" can help here. Most lenders are rapidly scrambling home ownership retention teams. Give them a chance to work with you, but do not wait for them if they are not returning calls or give you the run around, remember, the clock is ticking.

 

In your FREE initial consultation, we will evaluate if this option might work for you, and give you guidance on how best to approach your lender(s).

Streamlined loan modification program (SMP) - Federal Housing Finance Agency (FHFA) program geared toward homeowners who are 3 months behind and have not filed for bankruptcy. This is a relatively new program and not all mortgage companies and lenders are participating. The target ratio for an affordable payment is 38 percent of monthly gross household income. 

 

7. Short Refinance - This is a new phenomenon and somewhat of a Loc-Ness monster. Although we've heard stories of some mortgage companies and lenders refinancing and lowering both the principle balance and the rate, we have NEVER seen proof.

 

Even if you have been told by your lender that you do not qualify, do not despair. But prior to beginning the conversation with your lender (#2, 5, 6, 7), you must be prepared to demonstrate a verifiable hardship AND the ability to repay the new mortgage, this typically involves a full documentation loan process. In Your FREE initial consultation we can help you discover if one of these options might work for you and prepare you to approach your lender.

 

8. Deed-in-Lieu of Foreclosure - Known as a friendly foreclosure, this is still a foreclosure and will appear on your credit report as a foreclosure. Mailing in the keys instead of the mortgage payment is usually not the best option. If you have any equity, you lose the right to that equity. This usually only works if there are no other liens on the property. If you have a job with a security clearance, contact your superior or HR before considering this option.

 

9. Bankruptcy - This may stop a foreclosure and allow you to reorganize your debt and keep your property, but most of the time this just delays the foreclosure. This option also makes it very difficult to sell you home once the process is entered. 

An excellent and informative website by local attorney Gary Seymour who specializes in this area: www.justiceforhomeowners.com

 

10. Service Members Civil Relief Act (SCRA) - Public Law 108-189, December 2003. This provides military personnel in specific foreclosure situations certain protections. Check with your JAG officer. The most prudent course of action may be for you to sell the property. Act quickly, a foreclosure or bankruptcy will impact your security clearance.

 

The full text is available here: http://www.house.gov/ryan/FA_FAQ/SCRA.pdf

 

11. Short Sale - If you owe more on your home than it is worth, and none of the above solutions for keeping your home will work for you, there is the option of pursuing a short sale. This is a very complex transaction wherein we negotiate with your lender(s) to take less for the mortgage payoff than is currently owed in order to get you free of the burden of a home you can no longer afford. Since the closing costs such as attorneys fees, commissions, and transfer fees will be paid by the lender, this can truly be a NO COST TO YOU TRANSACTION.  It can cost you a lot more to hire someone who does not know how to get a short sale through the banks; Currently, most 'short sale' listings nationwide end up in foreclosure due to agent inexperience in getting the short sale through the process. You deserve and need the best educated CDPE Realtor, like me, in these difficult times.

 

Not sure where to start?  Give me a call at 908-359-6426 or email me at bblanco@remax.net to schedule your FREE Consultation.  I will discuss how the specifics of your situation reveal the next best options for you.  Many of the items we need to evaluate and qualify a short sale are the same items you need to approach your lender for a forbearance, a loan or mortgage modification, or possibly even a refinance.  If you are outside of my coverage area, I will recommend an excellent CDPE who covers your area.

 

 

There is a light at the end of the tunnel, let me help you find it.

 

 

Remember, Time Is Of The Essence...

 

 

≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈

 

 

CAUTION: AVOID FORECLOSURE SCAMS - There are many unscrupulous companies springing up to take advantage of homeowners in distress. Many of these scams will involve pressuring you to sign a power of attorney. DO NOT SIGN IT! This gives the holder of the power of attorney the legal authority to sign over the deed to your property. They will tell you they need the power of attorney to negotiate on your behalf with your lender. This is simply not true; I will share with you how it can be done without a power of attorney.

HAVE ANY DOCUMENTS YOU SIGN REVIEWED BY YOUR OWN ATTORNEY PRIOR TO SIGNING THEM. Any reputable business person wills not only be OK with your having your attorney review documents first, they will know and respect that you are a serious person when you ask to have your attorney review.

Don't sign away your rights! Hire a Certified Distressed Property Expert Today; The Initial Consultation is Free, No Obligation!

 

≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈ ≈

 

 

© 2001-2017 Reliance Network and RE/MAX of New Jersey. All rights reserved. US Reg. Copyright TX-5-910-991, TX-5-910-992, TX-5-910-993, and TX-5-910-994.
Each RE/MAX® Office is Independently Owned and Operated. Equal Housing Opportunity.

 Site Map