Who Qualifies Under Recent Loan Mod Plan?

March 17, 2009

Up to 5 million homeowners are expected to be helped stay in their homes under the recently announced Obama Administration’s foreclosure relief plan. Announced March 4, the plan is designed to allow some homeowners to refinance into lower rates (up to 105% of current value which helps those whose value has fallen) or others to [...]

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What Constitutes a Hardship?

March 13, 2009

If any home owner is considering a Loan Modification, Short Sale or other alternative to foreclosure which involves the bank making some form of concession, it is usually necessary for the home owner to be able to demonstrate a valid hardship.
The Distressed Property Institute defines an acceptable hardship as:
A material change in the financial situation [...]

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70% Of Distressed Owners Never Get Help

March 12, 2009

A statistic provided to me by the Distressed Home Institute stated that seven out of ten homes which are foreclosed upon never have an visible intervention-by visible they mean there was no effort to ever try to sell the home first.
According to a report completed by the State Foreclosure Prevention Working Group which was published [...]

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Washington State Foreclosures Increased 95% ‘07 to ‘08

March 3, 2009

In December WA state Senator Patty Murray’s office released a news memo announcing additional funding for foreclosure counseling. Stats within the press release state:
Washington state had 4,278 foreclosure filings in October, which was a 95 percent increase from October of 2007. The state’s rate of one filing for every 631 households put it 17th among [...]

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Dear Mr. President…A MUST Read

February 19, 2009

I don’t think I’ve read a better summation of what we’re really experiencing across the country than this post by Justin Hood on Zillow’s Mortgage Blog. Not only is it spot on in it’s message, but it poignantly speaks to the frustration those of us “on the front lines” are feeling.
Here’s an excerpt from Justin’s [...]

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Banks Giving More Lip Service to Distressed Owners

February 15, 2009

Technorati Tags: financing,short sales,foreclosures
In a recent article by Mark Calvey of the San Francisco Business Times, a Wells Fargo spokesman is quoted in support for customers facing foreclosure. After acknowledging that many of the loans Wells Fargo services are owned by other companies and investors, Chris Hammond was quoted as saying,
“…..We are fully committed to [...]

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Bellevue #1 Place to “Live & Launch”

July 16, 2008

According to an article on CNN Money, Fortune Small Business has slotted our own Bellevue, WA in the top spot amount US cities which combine a sublime blend of business opportunity and recreational pursuit. The article cites Bellevue’s growing downtown and strong school system along with it’s ability to attract major retail as a few [...]

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