- You're behind on your mortgage
- You owe the bank more than the house is worth
- You have 1, 2 or even 3 mortgages on your property
- You’ve tried to obtain funds to bring your loan current without success
- Your lender is refusing to accept your payments
- You're worried about having a foreclosure on your credit report for the next 10 years
- You need help FAST
There's a good chance our short sale program can get you out from under that mortgage even if you owe more than the house is worth.
The banking industry is in trouble! You’ve seen it in the news. There are so many mortgage loans in default that some of the subprime lenders are going under. The entire mortgage industry is feeling the pain.
That fact could be good news for you if you are behind on your payments (or about to be) and owe more than your house is worth. Your lender may be willing to take less for your house than you owe! The good news is, it is happening, in record numbers. Banks know it will cost them more to foreclose, fix up and sell your house. They are highly motivated to cash out of a loan in default, even if it means taking less than they're owed. This is called a short sale.
When facing foreclosure time is of the essence. You MUST act fast to protect your rights. Many people who need foreclosure assistance simply do nothing and hope for a miracle. Don't fall into that trap! The longer you wait, the harder it is for us to help.
The foreclosure period in Arizona is 90 days, which is one of the most aggressive foreclosure processes in the nation. Many homeowners make the mistake of not taking any action to avoid a foreclosure until they receive their Foreclosure Notice, and at this point, it may already be too late. If homeowners call their short sale specialist for help as soon as they start receiving default letters from the lender, the more likely it is that a foreclosure can be avoided.
This is especially true for a short sale. The later in the pre-foreclosure process you are, the less incentive your lender has to work with you. Protect your assets and credit history. Start on the pathway back to financial freedom and security.
Call Today! 800.610.2384
You don’t have to face foreclosure alone. We can help you exercise your options now. It may be hard to believe but the fact remains, ultimately, your lender does NOT want to take your property. YOUR LENDER JUST WANTS TO GET PAID! Selling your house as short sale allows your lender to cash out and lend that money to someone else. Finding a way to work with your lender is the best means of avoiding foreclosure on your home.
The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief.
This provision applies to debt forgiven in 2007, 2008 or 2009.Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion doesn’t apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.
The amount excluded reduces the taxpayer’s cost basis in the home."
Source - IRS website on Home Foreclosure and Debt Cancellation |
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