Monument Realtors know that your agent choice makes a critical difference in the outcome of a short sale…
As Monument Short Sale Agents, we are licensed and accredited Monument Realtors fully trained in the short sale process of helping homeowners like you for over 24 years. Helping you understand that you have options – so you can make the best choice for you – don’t let the bank make your choice for you- your bank makes the best choice for them. Monument Realtors represent your interests first, in the short sale process.
The services Monument Realtors provide homeowners needing a short sale are at absolutely no cost.
Are you finding yourself struggling to make your mortgage payment? Or have fallen behind? Or missed payments? If so contact me by email or call now. Monument Short Sale Realtors are available to talk to you about your options to stop foreclosure any time. Just call. I will answer personally or call you back as soon as possible.
Marketing short sale homes for sale in Monument requires an experienced agent – do not allow an amateur agent to try to save your home from foreclosure. We make sure your home is properly priced – this is one of the most important aspects of a Monument short sale. Pricing your Monument home for sale at fair market value gets your home sold quickly. A properly priced Monument home will show up in high traffic home search sites on the internet.
Avoid the pitfalls that an inexperienced short sale agent will make. You may have only one chance at a short sale to save you from foreclosure. Take action before you run out of time. Monument Realtors can guide you professionally thru the short sale process.
Call Laurie Clark – 719-502-6572 for personal access
Monument Realtors provide you with a confidential, discreet, no obligation review. No drama.
Monument Short Sale Realtors
+Laurie Clark
Copyright © 2011 By Laurie Clark-Angel Realty LLC- Colorado Short Sale Agents- Denver Short Sale Agent – Monument Short Sale Agent
FHA Loan Modifications default rate jumps in March despite all efforts to prevent it
FHA loan modification home owners default rate jumps in March despite all efforts to prevent it based on unemployment issues among other reasons. Home owners who received loan modifications on their FHA loans again defaulted a year or so later – half of all loan mods that eased the repayment terms have failed.
FHA Loan Modification fails to help homeowners keep their homes
FHA allows a buyer to come to the table with a minimum of 3.5% down and a minimum credit score of 580. The results of these loan modifications are less than inspiring. Greater success has been achieved thru the short sale process.
What has been the result of the loan modifications negotiated by lenders? 50% of FHA loan modification default rates that jumped in March.
Bloomberg writes an article that spells out the situation in great detail.
You can read the article here:
http://www.bloomberg.com/news/2012-05-09/fha-new-foreclosures-jump-as-mo…
Have you gotten an FHA Loan Modification that is about to default? Give me a call to discuss your options. The short sale process is a far better alternative to foreclosure.
Should you Refinance or Upgrade to a newer Monument Home? Take advantage of this low interest rate environment…
Should you Refinance or Upgrade to a newer Monument Home?
Every Monument Homeowner is asking this question right now.
Refinancing your Monument Home? Whether you are in Larkspur, Castle Rock, Parker, Denver or Colorado Springs refinancing your home can be an awesome, strategic choice – especially when some of the lowest interest rates since 1935 are still available.
Monument Realtors know that refinancing can mean:
- Lowering your monthly payments
- Help you realize a quicker pay off
- Help you lock down a fabulously lower interest rate – long term
Or can you take advantage of these sweet, long term, interest rates to upgrade into a newer Monument home? One that fits your season of life better? Buying a bigger home or a smaller home, or a no maintenance home, is a fabulous opportunity in this low interest rate market as well.
Wouldn’t it be just great to be able to move into the perfect area, with more amenities for the same monthly cost? Don’t you deserve it?
Before you decide, think about this:
FIRST! Check your credit report at a reputable agency like AnnualCreditReport.com. Carefully review all the information on your report. If you discover negative information, get them corrected before you begin the refinancing or home purchase process.
Do your math: Calculate all the refinancing costs, determine how much you will save each month – then divide that savings figure into the total refinance cost figure- to find out how long it will take you to break even in order to recoup those costs on your loan so you can start to see your savings add up.
- If you have a 30 year, $275,000 mortgage at 5.5%, your monthly mortgage payment (principle and interest only) is $1,562.
- Refinancing into a 4%, 30 year fixed loan product, can bring you down to a monthly payment of $1,313 – generating a monthly savings of $249 a month.
- Refinancing generally costs about 2.9% of your loan amount ($275,000 x 2.9%) so it would cost you $7,975 to refinance. These costs can be – and typically are- added into your loan amount.
- If you divide $7,975 by the amount you save each month – the $249 – it will take you 32 months or 2.67 years to break even and then you will begin to realize your $249 a month savings.
But Monument Realtors know the real question is: should you Refinance or Upgrade your Home?
Purchasing a newer Monument, Larkspur, Castle Rock, Parker, Denver or Colorado Springs home with your desired amenities, in the location you have dreamed about being in, for the same monthly payment is extremely exciting to consider. Monument Realtors understand that sometimes more (or less) space can be just as valuable.
At these sweet interest rates you can buy a home for that same $1,313 a month without adding $7,975 to the back end of your new loan. With your closing costs paid for, you can get into your new home for as little out of pocket dollars as possible.
Contact Monument Realtors for all your real estate plans – Whatever you need, we are always just one click away!
It doesn’t need to be difficult – with Angel Realty, LLC, our local Monument Realtors will represent you in your home sale and purchase, in a goof-proof fashion that will give you the fabulous, gorgeous home you have dreamed about, complete with long term savings on your monthly mortgage payment.
Should you refinance or upgrade to a newer Monument Home? Either way – you can win -so the choice is yours!
Principle Reduction Appeal – will it turn the tide for the nation?
Principle Reduction Appeal letter from State Attorney Generals and the IMF sent to FHFA Acting Director
The Acting Director of the FHFA received a letter from 11 state Attorney Generals pressing him to allow both Freddie Mac and Fannie Mae to proceed with principle mortgage reductions. The AG’s argued for principle mortgage reductions on the basis of preserving assets and preventing unnecessary foreclosures. They further outlined that the qualifying guidelines for a principle reduction would have to consider all a homeowners debts – not just the mortgage payment – and be standardized in form, transparency and disclosure.
It is the hope of all in the discussions to give homeowners the incentive to maintain their mortgage payments which will result in lower foreclosures throughout the nation.
As an added note, Monument Realtors learned that the IMF (International Monetary Fund) director, Christine Lagarde, threw in the Fund’s position that the acting director of the FHFA seriously give grave consideration to the state Attorney General’s letter to reduce the American homeowner’s mortgage debt.
If the Acting Director allows the principal reduction appeal to prevail – by agreeing to allow it – this could mean a vast difference in the future of homeowners being able to stay in their homes by avoiding foreclosure. Most strategic defaults would immediately grind to a halt. Monument Realtors think Short sales would no longer be necessary. The housing recovery could actually take off. Buyers would be able to buy. Sellers would be able to sell.
Monument Realtors believe that principle reduction could mean the difference between keeping your home or losing it.
Principle reduction help from Monument Realtors
Vote on what is holding you back from buying a home right now – especially with all the great news hitting the wires
The 30 year fixed mortgage rate slid back below 4% this past week, hovering at an historic low level that should cause some heads to turn. 30 year fixed mortgages began around the 1950 era and last month this loan product fell to 3.87%.
Wow! What is holding you back from buying a home right now?
The 15 year fixed rate mortgage product also slid to 3.23%.
The 5 year ARM came down to 2.90%.
What is holding you back from buying a home right now?
Rates this low should prove to be a major influence in refinancing and home purchases according to all the experts. Builders are confident that the market will pick up. Employers appear, from the media reported numbers, to be adding jobs which has reduced the unemployment crisis a bit.
But home prices continue to fall across the nation, except for a handful of cities like Denver. FICO scores required by lenders still remain at restrictive levels of 620 or higher in order to be considered for a loan. Millions of foreclosures and short sale homes remain on the market in such wretched shape (and unable to appraise at what the lenders want for them) that it is doubtful that even the top producing Realtors could move them. Many would be home owners have fico scores so low from losing their jobs that they can barely be qualified to rent. Best Buy, among others are closing stores and laying off employees.
If the economy is improving so much, why are we not seeing?
Why are home values thru most of the nation continuing to decline?
Why are lenders making it so difficult to get a home loan?
Why are people hesitant and fearful of losing their jobs?
Why is gas at the pump rising daily?
Vote on What is holding you back from buying a home right now:
Vote!
FHA passes new guidelines on borrowers who have collections on credit reports
FHA’s attitude towards reducing its current levels of market share by up to 50% through passing new buyer guidelines is raising eyebrows in the tools it has chosen to use, to promote those goals.
FHA has initiated a new policy change regarding charge off’s or collections on a would-be homeowner’s credit report. FHA passes new guidelines stating ” if a borrower has collections that total over $1,000″ – then the borrower will be required to:
- Pay off all the collections
- Or make arrangements with the creditors to repay the debt
- Show 3 months of history on the payments being made as agreed
- Count those payment amounts in the debt to income Ratio
- Each collection account on the credit history must be shown as resolved or paid in full
FHA passes new guidelines changes that should actually increase the difficulty level of a borrower and restrict the ability of those looking for home ownership. This will effectively reduce the buyers pool nationwide. Borrowers in process of applying for an FHA loan should keep these changes in mind to close their loans before the date the guidelines are set to go into effect. FHA passes new guidelines that go into effect on April 1, 2012 for all FHA insured loans.
FHA passes new guidelines
Obama offers New FHA Streamline Refinance – giving new hope or just another failed program?
Good news on the new FHA streamline Refinance Program offered by the Obama administration-some Homeowners with FHA mortgages might be able to benefit from a new plan made public on Tuesday. The plan includes the FHA cutting certain upfront fees on their streamline refinance program.
This new FHA Streamline refinance would impact homeowners who took out a loan before June 1st, 2009.
About three million homeowners might be able to benefit from the new plan and reduce their monthly payments by having their interest rates adjusted to today’s low rates.
Most FHA loans from 2005-2009 were typically at 5.5-7.5%. Having a reduction to 3.25-4% would represent substantial savings and a more affordable monthly mortgage payment.
This new FHA streamline refinance program could be positive for both housing and the economy. With these new low fees and low rates, the Obama administration is looking to prevent additional foreclosures – reducing the ongoing effect of the foreclosure crisis on the economy.
The upfront fee reductions would represent additional savings for each homeowner who can qualify for the new plan.
This new FHA streamline refinance plan is allegedly presented to make it easier for banks to allow the homeowner to streamline refinance because it includes a directive that allows the FHA not to count the loan toward a lender’s “compare ratio”- which is one of the guidelines lenders typically have to use.
Lenders should be more amenable to allowing the homeowner at a higher risk to streamline refinance on the basis that FHA will not hold the lender accountable should the loan fail to perform.
What does this mean to the homeowner with an FHA loan looking to streamline refinance? Lenders have only permitted people with credit scores of 620 or better to refi. Now they might be willing to lower that credit score to 580.
FHA streamline refinance loans are typically qualifying assumable loans – so a homeowner would have attractive loan terms to offer in order to sell their home - and new buyers would have a second chance to take advantage of these historically low interest rates in the future.
Obama offers New FHA Streamline Refinance
Laguna Beach CA Home for Sale – 1304 Lewellyn Drive – Real Estate in Orange County – Ocean Views and Acreage
Laguna Beach CA Real Estate – Home for Sale -Outstanding Value in Orange County – MLS# P812644 – Ocean Views – Acreage- Main Floor Master-Beautiful Beaches – Laguna Beach Real Estate at its finest!
Just listed in Laguna Beach CA- Home for Sale- Incredible Beauty- now priced at $1,395,000
Realtor Expert Sharon McCright 949-280-4865 – call for your private showing today…
Laguna Beach CA Home for sale - 1304 Lewellyn Dr
Laguna Beach CA Home for Sale - 1304 Lewellyn Dr
This Craftsman Style Home has been Remodeled and boasts artistic designs including:
- Custom Brazilian Oak Flooring
- Claw Foot Tub with matching Vanity
- High Beamed Ceilings of Pine, Ceder and Douglas Fir
- Custom Tiger Flooring in the Ocean View Loft
- Newly installed Heating and Cooling System complete with Hepa Filter
Laguna Beach CA Home for Sale
Offered at $1,395,000
1304 Lewellyn Dr
Laguna Beach CA 92651
1304 Lewellyn Dr Laguna Beach CA 92651
Laguna Beach CA Home for Sale Beauty - 1304 Lewellyn Dr
Monument Short Sale Realtors offer Private Short Sale Plan for those desiring confidentiality.
We understand that not all sellers are comfortable with a “Short Sale” sign in the yard and “Short Sale” displayed on the printed marketing material. The last thing you need is for everyone in the area to be privy to your financial decisions.
When discretion is your first priority, then make no mistake – it is our first priority! Monument Short Sale Agents offers you the opportunity to list your home in our Private Short Sale plan.
Monument Short Sale Realtors Private Short Sale Plan will not:
- Put up a short sale sign in your yard in order to market your home for sale in Monument, CO
- Put “Short Sale” on any printed marketing materials.
- Put “Short Sale” on any advertising of any open house.
Our short sale homes for sale in Monument, CO, close quickly, discreetly and save you from foreclosure. Monument Short Sale Agents understand that you need to know that you can count on truthful, direct and open communication during every step of the process. With the new foreclosure laws in place in Colorado – you only have 120 total days from the first Notice of Default filed by your lender to cure, redeem, or sell your home to prevent you from suffering a foreclosure.
Don’t wait til it is too late – get the short sale process started immediately to stop your foreclosure now. Pick up the phone and call me – my services are absolutely free to you – as an Equator Certified Monument short sale Realtor with over 24 years of experience, I get it done right.
As Monument CO Accredited Short Sale Agents, we keep abreast of all the federal laws, regulations and government programs inclusive of changes, in order to help you avoid foreclosure.
The only person we cannot help is the person who waits too long to call. Together, let’s get your home sold quickly, discreetly and with dignity.
Here is my direct line: 719-502-6572 – if you have to leave a message, please know I will call you as soon as possible. Call me now for a free, no obligation, confidential consultation if you are ready to avoid foreclosure through the short sale process.
Private Short Sale Plan
Short Sale Realtors question the optimistic recovery predictions in 2012 coming from the Realtor community.
Realtors and people higher up the corporate ladder are predicting a better 2012 in housing – actually promoting the concept of a beginning recovery. Most economists and political figures have been reporting that a recovery will not be possible unless several factors are radically adjusted – and even with those adjustments in place, such a recovery won’t take effect until the end of 2013.
Monument Short Sale Realtors are leaning towards those economists opinions which are contrary to others.
While it is true that interest rates are at historic lows – home prices have not yet stabilized in most parts of the country. Some cities are reporting increasing sales but prices still show a downward trend in the hardest hit areas. Pending sales have increased but those homes still have to go thru the closing process. Lending guidelines are still restrained with buyers failing to be able to qualify within those stricter parameters. Lender loan modifications are still in flux. Lenders are not willing to take on any more risk.
Foreclosure inventories are due to rise. Distressed homes are projected to take 50% of market share sales in 2012 if an improved short sale process can be firmly shaped. Unemployment continues to rise. The underemployed are still working two jobs and unable to make ends meet. Our Federal deficit is continuing to spiral out of control with banks printing more money than ever before in the history of this nation. With lenders still taking a harsh, unmovable stance towards home owners who are still unable to find employment – Monument Short Sale Realtors are asking if these projections are preemptive or just a weak push towards optimism?
What say you?
Monument Short Sale Realtors
Do you think we are headed for a housing recovery in 2012?
Laurie - Broker
