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Tug-o-War with your Bank

admin — Tue, 02 Mar 2010 06:48:32 +0000

Sometimes it feels as if you are playing tug-o-war with your bank. All of the calls, emails, faxes, paperwork and still no answers. You have tried for months to work with them. You may be facing a hardship. You may have lost a job. Why are the banks being so difficult you are wondering. It helps to have someone call them that does this full time and for years. We know the name of the people to call and in which department to call. Many times loan modifications end up with higher payments or defaulting, so we always recommend you give us a call to analyze your situation, and to see how we may assist you with your home situation.

Forward your bank calls to us It’s

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Foreclosures/Short Sales 43% of 2009

admin — Mon, 18 Jan 2010 02:39:46 +0000

http://www.finance-commerce.com/article.cfm/2010/01/12/Foreclosures-short-sales-fuel-2009-home-sales-in-Twin-Cities

“Mortgage foreclosures and short sales accounted for nearly half of all Twin Cities housing sales in 2009″
Short sales should continue to be very big in 2010. The timing is right to do a short sale. It’s expected up to 43% of all sales from 2009 from local housing was from foreclosures and short sales.

“Prior to 2006, foreclosures and short sales accounted for less than 5 percent of all home sales, he said. In contrast, “in the early part of 2009, foreclosures represented more than 50 percent of all sales. It is a whole different world.” -Aaron Dickinson
“I think anyone expecting a dramatic [housing] rebound will be disappointed.” -Aaron Dickinson

This is showing that it no longer makes sense to wait, now is just as good a time as any to do a short sale.
Median prices have dropped , 2009 is expected to come in around $170,000. (In the last two years, the Twin Cities’ median home price has declined more than 20 percent).

This is the reason that most people are underwater locally in the twin cities, with over a 20% drop in home prices, almost everyone is upside down in their house, so we often recommend a short sale, as a loan modification would not help in this scenario.

“Yet, serious delinquencies — those mortgages more than 90 days late — continue to mount.” -Aaron Dickinson

This graph shows how short sales contribute to a lot of current sales

http://www.finance-commerce.com/userfiles/image/Bar-Graph.jpg

If you are considering talking about your options, or are looking into doing a short sale, I would recommend calling and let’s answer some of your questions. As you’ll agree from this article and highlights above it does appear that short sales are the direction most are going right now. There are many advantages to doing a short sale, and most include tax advantages, and or negotiating with your bank on the deficiency judgment. If you give us a call we have answers to the most commonly asked questions.

(612) 234-5502

Tidal Wave of Foreclosures on their way If you spe

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WeCallYourBank.com call us or email us

ronorr — Fri, 09 Oct 2009 03:38:11 +0000

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Please give us a call with any of your needs regarding these topics:
Short Sale
Foreclosure
Loan Modification
Forbearance
ARM adjusting
Notice of Default
Sheriff Sale
Lender-Mediated
Bank non-stop calls
Loss Mitigation
Redemption Period
Mortgage debt relief act
short sale affect taxes
short sale affect credit
short sale qualifying
foreclosure timeline
avoid foreclosure
debt settlement
bankruptcy
deed-in-lieu
credit counseling
vacancy
health issues
death in family
job loss/relocation
need smaller payment
divorce
inherit a house
too many repairs
too many other bills
can’t refinance
don’t want to be landlord
neighbors in foreclosure

Please go to www.wecallyourbank.com and call or email us at the info there.

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