Joe Pryor's Oklahoma Short Sale Expert Team

Oklahoma City Foreclosures increasing

Mon, 08 Feb 2010 19:17:20 GMT

We have been tracking the number of sheriff sale peoperties for the last few years, and it is easy to notice that the list is getting bigger. More people are losing jobs, finding that they don't have enough to pay their bills, and are losing their houses. I was at a short sale listing on mine that is in progress. The realtor who came to do a broker price opinion of value for the lender told me that last year she woul get 4 request a month from lenders to do these BPO's. Now she is getting 8 to 12 per week. I could go on but it seems like 2010 may be the worst year in Oklahoma City for people losing their homes. How do you avoid this. Let me give you a few bullet points.

Don't bury your head in the sand thinking that somehow it will go away. It won't.

Don't wait until the last minute to save yourself from foreclosure when you get the sheriff sale notice. It is normally too late.

Don't call you friend or relative who is a Realtor to help you. You don't need an friend, you need an experienced advocate. Experience counts.

Don't think you have no options, you do. A good short sale Realtor will advise you of any alternative available.

Finally, don't partial pay your back due balance. it is a dirty little secret that none of that money gets credited to your principle or interest.

If you are 60 days or more late, call us for a consultation. It cost you nothing, and what we can do to help you can save your financial future.

Joe Pryor & Charlene Humphreys, Distressed Property experts

joe@joepryor.com

chumphreys2@cox.net

Defaults increasing in Oklahoma City

Fri, 05 Feb 2010 18:14:09 GMT

We recently hooked up to a national reporting company that monitors credit reporting. We thought that we would start out in a small way to test out the data, so we asked for 5 zip codes that constitute the Edmond post office, only asked for 60 and 90 days late and above $150K in a mortgage balance. What we got back was 236 names. It wasn't what we thought since we excluded over 90 days and under 30, plus we could have taken the mortgage lower. This is just a sampling tof the trouble people are having paying their mortgage. If I had asked for the 28 zip codes we monitor and all homes in default, then I would have had to take out a loan to get the data. If you couple this with the fact that I met a Realtor who was doing a price opinion of one of my contracted for short sales then you get the big picture.

She told me that six months ago she was getting 4 request per month on distressed property valuations, but this year she has been getting 6 to 12 per week, just one agent. As much as we want to believe in the stability of the Oklahoma City market, these numbers call that a lie. Yes this is not Florida or nevada, but we are facing a serious problem. Oklahoma is a judicial state and it takes a long time to get a home foreclosed on. The good news to that is that it gives me team time to get out out of a mess with a still decent credit rating. The bad news is that this delay is starting to hit the market. If we go back to the bad old 1980's here, the amount of foreclosed properties dragged market values down. I'm not saying that the same huge decrease will happen, but it will happen. 2010 will be rough on Oklahoma homeowners.

If you are in this dilemna the time to consult with us is now. Too often people bury their head in the sand and take a lottery mentality that they may hit the jackpot. Rarely has this happened. Once you hit the 6 month behind mark, then the attorneys fees start piling up, the mortgage company will only take the whole amount including attorneys fees, late payment penalties, and interest, and you are in no position to make it back. We are here to help anyone in the Oklahoma City area who has experienced a hardship. Call us and we can advise you of your options.

Joe Pryor & Charlene Humphreys, Distressed Property experts

joe@joepryor.com

chumphreys2@cox.net

Oklahoma City Short Sale Series-Part Seven

Mon, 09 Nov 2009 19:31:26 GMT

Short Sale Series-Part Seven

Part 7-Final Thoughts and Advice

For Realtors. I wanted to make an even stronger appeal to Realtors who think that they can do a short sale by on the job training. It won't work. Get training, mentoring, and your CDPE designation. Short of that, excuse the pun, if you refer to someone who knows how to do this and cares, you can get a fee and it just might close. Also please remember that this is not a normal sale, and these are very distressed homeowners. You need to act like a PhD psychologist to start. Then you need to understand that if you screw this up people and their families are adversely affected. Are you willing to tell them oh well I tried. That is no where good enough and you should be brought before your local Board and Commission. If you do it right, then credit can be restored in a much smaller time for these folks, and you will have their loyalty and gratitude.

For Buyers. Please don't enter into a short sale transaction if you don't have the staying power or you really have a contingency you haven't told your Realtor about. If you can follow through, and if you are truly non-contingent then you are walking into an instant profit on paper. Also understand the risk. You cannot do an interest rate lock until you are sure that all the t's and i's are crossed and dotted. If you want a sure thing buy a new house at a premium figure that is finished. For me, even a .5% increase in a rate is worth having when you are getting 5 figure reductions in real value.

Two warnings for everyone.

Lawyers. No I am not going to make the standard lawyer jokes. What I am warning about is that real real estate law is an acquired skill. Law schools teach contracts, but don't spend a lot of time of real estate. Folks, that's not where the big money is. I recently had a short sale that was about to close after the owner finished a Chapter 13 bankruptcy. Tow days before the attorney filed a Chapter 7 liquidation with the advice that there was no advantage to the short sale. Gee thanks for extending the credit problem about 5 years. A foreclosure is worse than a bankruptcy and has been for the 20 years I have been in real estate.

BA/Countrywide. This is the true Nightmare on Elm Street. Every ones patience will be tested. They make a tortoise look like it is moving like a Ferrari by comparison. They also have a policy that if everything is done but it doesn't close, you have to start over like it never happened. These folks border on criminal in the way that they put people in harms way. It sometimes seems that they really want homes to go into foreclosure to dirty the books. Could this be a TARP ploy? I have no proof but something really stinks about the way they are doing distressed property negotiations, if you could call it a negotiation. I now know of Realtors who are refusing to do Countrywide short sales. We will still do them, but everyone should be informed of the problems before entering a contract to buy.

That's all for now. Thank you for reading the series and I hope it helped.

Oklahoma City Short Sale Series-Part Six

Mon, 09 Nov 2009 19:30:41 GMT

Short Sale Series-Part Six

Part 6-Red Flags

We have gone through the process of what constitues a short sale, what you need to put together for the mortgage company, and how to choose a Realtor and finding the right buyer and buyer's realtor. Now let's go into a few Red Flags to watch our for.

Red Flag #1. Lack of transparency. More lenders are calling for an arms length relationship. BA/Countrywide is especially firm on this. if i want to buy the short sale and leave the owner in as a renter, they will probably kick it back, as they have in relatives buying the house. yes, I can buy a short sale for myself, but I need to put it on the open market for rent. This is becoming more an accepted practice with lenders for accepetance of a contract.

Red Flag #2. True hardship. Let's say for arguments sake you made a bad buy and you want out. Don't lie about it and create a false hardship, and don't go out and buy another home that's cheaper, quit making the payments, and expect the mortgage company to go okay, we will do the short sale. Just stop making payments is not a harship, and if a realtor tells you to stop, file a complaint with the state real estate commission or local board.

Red Flad #3. Don't assign a contract. This is for Realtors. I have been approached by "investors" who want to do an assignable contract for the short sale, then they said that they would hire me as a Realtor to sell it while they do the neogtiation with the lender. After I sold it for more money I would get a full commission. First, i have a signed contractcwith the homeowner, not this scammer. When this all blows up, the homeowner suffers the most. FYI, I have been propostitioned numerous times to do this. As Tony Soprano said, "fuggeddaboudit". I don't look good in orange anyway.

Red Flag #4. The Realtor who says don't worry. Please worry, becasue a 15% national success rate should cause you to worry. We have a 95% success rate but that means no all sales work. This is the same Realtor who does not not get financial info up front, and would more than likely send the offers to the lender without your signature. yesterday we sent in one of our smaller short sale file to the lender with one signed offer and 70 pages of documentation.

The last entry in this series tomorrow will deal with the benefits for all those concerned and a summary of what these 6 blog posts means to the markets we serve.

Oklahoma City Short Sale Series-Part Five

Mon, 09 Nov 2009 19:21:47 GMT

Short Sale Series-Part Five

Part Five-Qualifying a Buyer

So far we have concentrated on the meaning of a short sale, the advantages, and how it relates to the seller. But a successful short sale needs a qualified buyer otherwise this is an academic exercise with real life consequences.

First a buyer needs a good Realtor. Okay I know this is a cliche, but what I mean is, a realtor who either has a knowledge of the short sale process, or a willingness to learn from an experienced short sale listing Realtor. Since most of the time I represent the owner, I find our team teaching the buyers Realtor. No matter what we put in the MLS comments like "as is", and no service contract to be paid by the seller or lender, we get that in the offer. Even if the offer is acceptable, we need to make sure it jibes with the lender requirements. I never mind a realtor on the other side who truly collaborates. They play a valuable role in rescuing my seller from foreclosure.

Second, a buyer needs to be non-contingent preapproved. You can't buy a short sale if your house is not on the market, or on the market unsold. Even a home with a contract is a contingent contract. It is right on the line to accept a contract where a home is merely under contract for the prospective buyer. Where it gets really sticky is dealing with a company like the former Countrywide. If the buyer falls out, they start the clock all over agian,even if a price is agreed on. if you are working with a buyer, have them totally through underwriting, and with a contingency if you want a successful sale.

Third, patience is a virtue. let's say you are listing a property with a 1st mortgage one place, a 2nd mortgage elsewhere, and maybe a divorce in the works. This is not a rare scenario. Throw in a disputed broker price opinion, and you can have a six month closing time from contract. We have had situations where we have gotten approval in a week, but that is rare. keep reminding your client that they got a great deal that probably can't be duplicated. Despite that, we have gone through a 2nd or 3rd buyer in a short sale process.

Fourth, consider a backup. Please reread number three. patience can be in short supply. a backup does not obligate you to close if you find something else. if you locate a smoking short sale deal, put in a backup. You could be Miss America here if you are the first runner up and the winner can't perform there dities.

Fifth, remember that the price is subject to lender approval. As hard as we try to hit the jackpot on pricing we are at the mercy of the lender. They are looking at net, so the price plus the cost of closing including what you ask for equals a scenario they like or don't. Evaluate the final price and make a decision. Don't go into a contract without realizing that it may adjust upward. Pricing a short sale certainly invloves a lower price because it is a distressed situation, and it has to be attractive enough for a buyer to consider waiting longer than a regular price. if they saving are $25K instead of $30K, dont be greedy or ego driven. Your ego could cost you a lot of money.

Footnote, you can go FHA or VA, just don't buy a basket case. All FHA and VA mandated repairs have to be previous to closing and these are your responsibily. If you buy a basket case, go to your local bank with an FHA preaprroval letter, do a loan involving the cost of repairs and convert it. We know banks who will do this simpler "203K" type loan.

Oklahoma City Short Sale Series-Part Four

Mon, 09 Nov 2009 19:20:25 GMT

<h1>Short Sale Series-Part Four</h1> <img alt="" width="274" height="161" style="float: left" src="http://activerain.com/image_store/uploads/5/7/4/6/0/ar125054002506475.jpg" />Part 4-The Marketing, Contract, and Negotiation We have gone through the interview process, we have all the documentation required by mortgage companies, we know the mortgage situations, and if any other types of liens have been filed including tax liens. We now know what we are working with. What's Next? Pricing. How you price a short sale depends on the market. In Las Vegas, pricing is going to be much different than Oklahoma City because Oklahoma City is not doing poorly. Let's take a recent example. The home had been marketed at a $185K price bu the previous Realtor and 5 months later it had not sold. Sure the appraisal could support that but the market does not. We  get it as a short sale and drop it to $165K and within 30 days have a contract. We also factored in the amount of loss based on mortage payoff. The price will be aggresive so we can get to the next steo Contract. As I said in the the last segment, you still own the home so sending multiple contract to the lender is not only wrong, it violates our state law on single party brokerage. We look at the best possible offer, with an experienced Reator preferably, especially if we have a patient buyer. Remeber that the contract is still subject to lender approval so even if you sign it, they have the final say. Lender will pay closing cost, but they will not allow for repairs, and certain items like a service contract, which we used to call a home warranty will not be allowed. We can take FHA or VA contract offers, but the home needs to be in very good condition, and a buyer would have to be reponsible for all appraiser mandated repairs. Processing. Their is a science and an art ot this. First it needs to be a complete packet with the contract, and a non-contingent pre-approval letter. Lender won't take it otherwise. It has to be acknowledged by the lender and some take up to two weeks to upload it into the system. We have a process that insures this and i would rather not share our secret. It will be assigned to a loss mitagator, and our goal is to get it to the next level of getting an appraisal or broker price opinion. Price Opinion. This is where an experienced short sale Realtor is worth hiring especially if it is a Realtor BPO. There are Realtors who live off the pittance that these companies pay, so they don't necessarily care about accuracy. Why do lenders do this? Money. They charge a lot more than what they pay the Realtor. it is imperative that the listing Realtor meet the BPO agent and to come armed with market data. Often the BPO agent is pleased that you have done the work for them. We had one situation in a relatively new neighborhood where the BPO on a 3 year old short sale came in higher than new construction cost. Two months of challenging the BPO got it reduced. This can be the source of our greatest frustration, but we fight for our clients and the buyer. Closing. Finally! Done properly, you come to closing bringing no money, but we have been on the buyers end of short sales where owners do bring money which partially negates the value of it. Again we have had no one bringing money to closing in our short sales. You have kept the utilities on, maintained the yard, and now you are signing papers. Before you sign you have received the full negotiated settlement we arranged. On that not only do you have zero cost, you also have a full release from the first mortgage without deficiency. We have also negotiated how it will be reflected on the credit report and short sale never appears. In a later post we will deal with exceptions imposed by second mortgage companies and/or private insurers. Not all short sales are created equal.

Oklahoma City Short Sale Series-Part Three

Mon, 09 Nov 2009 19:16:54 GMT

Oklahoma City Short Sale Series-Part Three

Part Three-Choosing a Realtor as a Seller

This is where I first invoke the Code of Ethics we abide by, that informs us that it is unethical to try to do something when we do not have the expertise to do it. When you are holding someones future credit history in your hands, a short sale is much more than a normal transaction, and it should not be done as on the job training. You would be better off to refer it to an experienced Realtor and get a referral fee, rather than put your potnetial client in jeopardy. Sadly, I see this happen everyday. As many Realtors scramble to find something to have as a transaction, and as short sales become more prevalent, the temptation is to get it the ole college try. If you are a owner in a default position, run like the wind.

Let's start with some potential questions to ask a Realtor, and excuse me if I throw in a few plugs for our team.

Question One. Have you done a short sale before and what is your success ratio? Estimates in some areas about the ratio can be as low as 15% where ours is over 95%. We also do short sales every week.

Question Two. What training do you have? Our team all goes through the CDPE training, Certified Distressed Property Expert. We also pay them a monthly fee to go through two monthly webinars where we can go over the changing landscape. We also have two national experts on retainer to bounce scenarios off of. We have also done them for years, not months or days.

Question Three. What paperwork is needed before we list the property? If a Realtor says just the listing agreement, and the Commission mandated paperwork, that is wrong. There is 60 to 150 pages of documentation we need to turn in once we have an offer.Much of short sale work is done before the house goes on the market Loss Mitagators are swamped. Incomplete files are put to the bottom of a stack that could be 500 files high. Many are paid bonuses one how many they can trun over to Phase 2. They love complete files.

Question Four. What would you do with multiple offers? If the Realtor says send them all into the lender, vote them off the island. You are still the owner in Oklahoma until the judicial process is finalized. You can take backups, but only one offer is sent into the lender.

Question Five. I am on the sheriff's sale list, is it too late? Oklahoma is a judicial state, and a sheriff's sale is the way to clear out everyone but the first lien holder. We have been successful in having a home removed from sheriff sale, so it is possible. Just please don't wait until two weeks before. We got it removed two days before but you increase your risk.

Question Six. Do I still need to bring money to closing? If the answer is no, have them qualify that. If the Realtor does not account for the cost properly, then you may have a deficit. This year no client of ours had a balance.

Question Seven. How do you deal with the second mortgage, especially if it is not with the same company? If you get silence you are in jeopardy. Second mortgages can be tricky, and they don't always completely release you. In most cases we have got them to do that. After all they get nothing in foreclosure unless they buy it. This can also be complicated if their is a private mortage insurer and the second is a line of credit. We know the drill, but we are not going to gaurantee you success. Don't be fooled with a nothing to worry about. This is where it can really fall out.

Last and most important question. Why do you do short sales? Trust me there are easier ways to make a living in real estate. First, short sales demand three times the work and twice the normal expertise. It sounds like we are not very smart to do these. Maybe that is true but here is my answer. It is not always about the money, it can be about the challenge. We do value a sense of accomplishment. Let me add that there is satisfaction at closing when you have rescued a person, a couple, and especially a family from 10 years of a bad credit record. When the family can repair their credit in two years or less and go on from a real hardship, you have given people hope for the future and not regret about the past. So let me add a real estate 101 marketing tip for anyone considering getting the expertise. If you value loyalty after the sale from a client, no greater fan can you make than someone who is successful at getting a short sale finished. I should add that they are more than a fan, they are a friend.

Oklahoma City Short Sale Series-Part Two

Mon, 09 Nov 2009 19:14:20 GMT

Oklahoma City Short Sale Series-Part Two

Part 2-What consitutues a Hardship for a homeowner and what is the next step.

In Part 1 we went over the reasons why a homeowner should consider a short sale if they are in default on mortgage payments. In this section we will go over what a mortgage company needs in order to accept the homeowner as a short sale . In many areas of the country where bubble prices have deflated, many people are under the value of their mortgage balance. In Oklahoma City, that has happened in very few cases. A mortgage company is no automatically going to give you a free pass just because you want to walk away from your payments, so let's go over the three most common reasons for a short sale.

Job loss or job disruption. So many families have two wage earners to keep up with expense requirements. When one or both loss their jobs, or if they are shifted down to part time work money gets really tight. You have to have your car for transportation needs and you can't neglect the kids. Even in the "low unemployment" environment of Oklahoma people lose their jobs, and the rate has climbed to above 6%.

Medical Reasons. Medical probelms can be devastating. I personally experienced this last year by being in Houston for 3.5 months with considerable personal expenses for cancer treatment. Fortunately I had reserves, and our business in mobile and i had a team in Oklahoma City. Most people can't do that.

Divorce. Oklahoma City has a divorce rate of around 50%. When two people are on the note and mortgage and one leaves, it can get to be a problem. I am listing a short sale today for this very reason. Also these problems don't have to be separate. Having medical problems can lead to job loss, and a loss of a job can lead to tensions that create divorce.

What is the next step? In Part 3 I will post about how to select a Realtor to help you. I will tell you now that considerable paperwork needs to be done to back up the hardship. My team does not list the property without anywhere from 40 to 100 pages of documentation done upfront. We will need a financial statement, tax returns, a hardship letter explaining the problem, and more. FYI, mortgage companies can't make empty your 401K or use your credit cards to make up differences if you have a hardship. Loss mitagators are swamped with work right now, and an incomplete packet will get you to the bottom of the pile. This packet is not sent in until a contract is signed, and typically loss mitagators get bonuses on the number of files they can push to Phase 2. In part 3 I will detail the qualifications needed in a realtor to rescue you from foreclosure. In the meantime you can check our our short sale answer site at www.stopforeclosureoklahoma.com.

Oklahoma City Short Sale Series-Part One

Mon, 09 Nov 2009 19:07:31 GMT

Oklahoma City Short Sale Series-Part One

Part One-What is a short sale and why do one?

Let me first state that Oklahoma City compared to the rest of the nation is doing great. This does not mean that evertything is perfect here in the Heartland. The last seven years has seen easy money, low qualifying credit scores, and the overall national meltdown has not left us unaffected. We have foreclosures and we have short sales. For many this is a devasting loss, but for others, they seem to be unaffected about losing a home. Our team does not care about whether you care or not becasue someday you will care, especially when you try to get any kind of loan. We will attempt to answer all your questions in this series. The first three will be about sellers, the next three will be for buyers, and the last will be for tieing all the lose ends together.

Why should you consider a short sale? I guess we should start off talking about what a short sale is. A short sale is when a lender or lenders decides to take a loss up front versus a larger loss later. Typically the loss is double for a foreclosure so a short sale can be a win for the owner, and a win for the lender. You first have to establish a hardship, then you have to be transparent about your finances, and as we will wstablish later, you need a Realtor who is a professional at short sales, not someone doing on the job training. Let's go onto why you should do it.

First is taxes. If you are an owner-occupant who decides on a short sale, the IRS will not consider foregiveness of debt as income through 2010. In foreclosure this is not so. Ask yourself, would you want to have to pay taxes on money you never made? The IRS gets theri way.

The second is future loans. In a forclosure an owner-occupant can't get a Fannie Mae loan for 5 years, and an investor for 7 years. In a short sale that period for both is reduced to 2 years.

Third is your credit score. A foreclosure is a minimum of a 250 point hit to well over 300, and has a three year period it strongly affects you. On a short sale only your late payments will affect your score and the credit hit can be a low as 50 points.

Fourth is the length of credit history. A foreclosure is reflected for 10 years, but a short sale is not shown on your creidt report. it will be be paid in full, settled or paid as negotiated.

Fifth is security clearances. You can lose a security clearance with a foreclosure. If you are a policeman, in the CIA, or the military a foreclosure can get you thrown out, and we have had clients in this position. A short sale will not affect a security clearance.

Sixth, employers have the right to check your credit. Think about it, you work with money as a cashier, an accountant, or with a mortage company, your employer has the right to terminate you, and often your emplyment contract with places like Wal-Mart will have that.

Seventh, you can get a deficiency judgement. In Oklahoma we are a deficinecy state. That means that a mortgage company can get a judgement against you and have your wages garnished. In a short sale, a deficiency properly negotiated is gone.

Eighth, in a short sale you bring a zero balance to closing. Once it is all said and done you have no money out and no past history to worry about. In fact, FHAhas a program that can pay for moving expenses.

In the next part we will deal with how do you qualify for a short sale, and what do you need to do to get it.

The Truth About Mortgage Modifications

Mon, 02 Nov 2009 08:23:28 GMT

The Truth About Mortgage Modifications

The decisions you make as a homeowner today hold a profound impact on your financial future. However, it is important to safeguard yourself from misinformation and fraud. Get the facts regarding your situation and always have a contingency plan.

For those who qualify, a mortgage modification is the ideal remedy to their financial distress. I’ve prepared a FREE report on the truth about mortgage modifications to guide you through this important process. Simply provide your information below to get this valuable information, and feel free to pass it along to anyone who may need it. One homeowner lost to foreclosure is one too many!

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Together, we can formulate a plan to get back on track.

If you have any unanswered questions, or your circumstances are urgent, please call me today.

Joe Pryor
405-590-2135

Short Sale & Deed-In-Lieu

Contrary to what you may have heard, lenders actually want to avoid foreclosure wherever possible. That’s why they’re accepting more short sale and deed-in-lieu transactions everyday in an effort to eliminate unnecessary foreclosures. This is great news for homeowners facing financial distress.

To help you understand more about these two options, I’ve prepared a free report just for you, called ‘Short Sale & Deed-in-Lieu: Dignified Solutions.’ To receive your free report, please provide your information in the fields below.

I hope you’ll review these options carefully and pass this information along to those who may need it. I commend your efforts to finding a solution to the difficult financial situation that you or someone you know is currently facing. Providing the best advice and information in your time of need is my priority.

Let me help you evaluate your options and get you back on track to a secure financial future.

Strategic Defaults are NOT Strategic

Walking Away Is NOT The Answer

You may have heard that a “strategic default” can be an appropriate and even beneficial reaction to an upside-down mortgage or impending foreclosure. While this idea is widespread, the truth is that default is never an easy road to choose, and rarely ever strategic.

Unfortunately, the ramifications of a “strategic default” are rarely explained, leaving many homeowners stranded on an island of misinformation. To assist you, I’ve prepared a free report outlining the myths and misrepresentations of strategic defaults.

Fill out your information below for this free report. Don’t hesitate. Get the facts today!

Foreclosure Vs. Short Sale

As a Certified Distressed Property Expert, I have devoted my career to helping homeowners who face difficult situations, taking them from uncertainty to resolution. Lately I've found a lot of conflicting information going around, especially concerning short sales, which you should know about.

A short sale occurs when a lender accepts the selling price of a home, even if it is less than the full amount owed on the mortgage. For particular homeowners, this can be the best option to foreclosure. Yet, I still hear people suggest that short sales are basically the same as foreclosure.

This is absolutely wrong!

You need to have the CORRECT information. That’s why I'm glad you're here. To help, I’ve prepared a free report—just for you—that compares the realities of foreclosures and short sales side-by-side. Simply provide your information below, and I'll send you this report.

If you have any additional concerns about this issue, or your circumstances are urgent, please feel free to give me a call. I can help you evaluate your options and get you back on track to a secure financial future.

Joe Pryor 405-590-2135

Your First Steps To Avoid Foreclosure

Your First Steps

In today’s market, 1 in 7 homeowners is having trouble paying the mortgage. More than 70% of these homeowners proceed without seeking assistance or getting the facts. Many do not even realize that foreclosure is a process, and that there is time to make decisions that may result in a better outcome.

You are not alone. Millions of other homeowners nationwide are in the same circumstances. To assist you, I’ve prepared a free report outlining the first steps a homeowner should take when facing a foreclosure.

Fill out your information below for this free report. Don’t hesitate. Get back on track today!

Avoiding Mortgage Modification Fraud

I Am An Agent Against Mortgage Fraud!

The last thing struggling homeowners need is to be victimized by fraud. Sadly, some people are preying on those who need help the most. Today, the real estate industry is the newest, biggest target for predatory schemes. In fact, the U.S. Attorney General, Eric Holder, stated that mortgage fraud cases are 400 percent higher than they were five years ago.

With nearly 1 in 6 homeowners unable to pay their mortgages, understand that you are not alone. Knowing your legitimate foreclosure-avoidance options is the best way to fight this terrible trend.

The report on this site will tell you how to avoid mortgage fraud schemes, as well as what solutions are available to you. Enter your information below and get the facts now!

Options and Solutions

Thank you for visiting this site and taking the first step toward finding answers. I appreciate what it has taken for you to come here, and commend your efforts to get the facts about your situation. The current real estate environment can be frustrating, with misinformation and conflicting plans for how to proceed.

As a real estate agent, what I often see in troubled homeowners is a belief that they are alone with their challenges. Regrettably, over 70% of homeowners in foreclosure proceed without ANY visible assistance. This is not acceptable for the communities I serve.

That's why I've developed this site: to ensure you get the valuable resources that can reduce your financial strain and change your life for the better. As a CDPE I know the options for homeowners in foreclosure or delinquent on their mortgages, and I can send you a report detailing this information, prepared just for you.

Simply enter your information below and click "Send." I hope that you will review this information carefully, so that your next steps are the right steps toward a real solution.

Let me help you evaluate your options and get back on track to a solid, stable future.

7 Short Sale Myths

There are millions of homeowners just like you who are looking for answers and don’t know what to do. You’re not alone and you’re in the right place.

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Despite my best efforts, there’s still an overwhelming amount of misinformation about the options available, especially short sales.

To give you a better idea of the short sale option, and to set straight some of the myths you may have heard, I’ve prepared a free report just for you - please fill out the information below to receive your free report. This report will clarify the following myths:

The Bank Would Rather Foreclose Than Bother With A Short Sale
You Must Be Behind On Your Mortgage To Negotiate A Short Sale
There Is Not Enough Time To Negotiate A Short Sale Before My Foreclosure
Listing My Home As A Short Sale Is An Embarrassment
Short Sales Are Impossible And Never Get Approved
Banks Are Waiting On A Bailout And Not Accepting Short Sales
Buyers Are Not Interested In Short Sale Properties

These ideas are potentially harmful to homeowners seeking real solutions. I hope you’ll review this information for yourself or share it with a homeowner in need.

In these times, we all need to know the truth to know how to get back on track.

If you have any additional concerns about this issue, or your circumstances are urgent, please give me a call.

Joe Pryor
405-590-2135