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Lauren Candito's Blog

By Eric Thom | Real Estate Pro in Portland, OR
  • Find the Right Loan Modification Firm for You

    Posted Under: Celebrity Homes in Portland  |  March 31, 2009 10:12 AM  |  1,521 views  |  1 comment
    Jeffery Strain, of TheStreet.com, writes “Homeowners struggling to pay their mortgages have been taking advantage of the government's new loan modification program. Unfortunately, so have scam artists. The effort has given rise to a slew of loan modification companies that target the more than 5 million homeowners behind on their payments.”

    Of all of the loan modification companies out in today’s market, very few of the are actually legitimate, but many aren't, charging ridiculous fees and asking for payment for their services up front. 

    “There are many benefits to re-negotiating your home loan, you just have to make sure that the company you are working with is legitimate.  If you work with a legitimate loan modification company you can potentially lower you monthly payment, re-negotiate your interest rate, and even modify your loan to achieve a fixed interest rate.” Says a representative from RE Acquisitions, a loan modification&short sale negotiation firm in Portland, Oregon.  

    They continue: “When looking for a loan modification partner, make sure they are a company with in-house licensed mortgage professionals working for you.  You want to work with a company that has the connections to get your loan modification approved, even when others say no.”  

    For additional information on loan modifications or preventing foreclosure with a short sale, visit http://www.sellhomeowner.com
  • Do You Need a Home Loan Modification?

    Posted Under: Foreclosure in Portland  |  March 31, 2009 5:31 AM  |  1,364 views  |  2 comments
    Last week mortgage backed securities, the investment vehicle behind mortgage rates, traded relatively flat and closed the week slightly improved over the past few weeks.  As a result, mortgage rates improved modestly as lenders lowered borrowing costs from .125 to .375 in points.

    This is welcome news to thousands of Americans in trouble with their mortgages, many of them facing foreclosure.  One option a lot of homeowners are turning to before considering foreclosure is a loan modification to lower your monthly payments and obtain the possible interest rates possible.  

    Unfortunately, there are a lot of scam artists in the market today just waiting to take advantage of un-suspecting home owners looking to re-negotiate their mortgage.  

    “It’s disappointing to see and hear, but there are scammers who are more than happy to take advantage of someone who is in need of help.  If you are upside down in your mortgage and are considering re-negotiating your home mortgage, do a bit of research before settling on a representative.  This will save you from the potential of making a difficult situation disastrous.” says a representative from RE Acquisitions, a loan modification specialist company in Portland, Oregon.

    If you are a homeowner looking to re-negotiate your mortgage, make sure your loan modification partner meets the following requirements:
    •    Over ten years experience in the loan modification industry
    •    Proven experience obtaining the best possible interest rates for their clients
    •    The ability to help their clients get refinanced when others say no
    •    The ability to create a workable payment plan
    •    The ability to get their clients’ loan modification approved in as little as three days

    For additional information on loan modifications, or preventing foreclosure on your home, please visit: http://www.sellhomeowner.com.
  • How to Stop Foreclosure with a Short Sale

    Posted Under: Foreclosure in Portland  |  March 26, 2009 1:14 PM  |  1,412 views  |  No comments
    Thousands of homeowners across the country are facing foreclosure, with little to no knowledge about the process or their options.  As interest rates continue to rise and properties continue to drop in value, many families are finding themselves in a place where the value of their home is worth less than their mortgage, On top of this problem, many home owner’s mortgage payments continue to rise, leaving many without the means to pay them, and facing foreclosure.
    If you are in this situation, don’t give up hope yet; there are still some alternatives that can help you avoid foreclosure, including the option of a short sale.   

    A short sale is where the bank allows the homeowner to sell their house for less than what remains on the mortgage. The homeowner is not responsible for paying the difference, and this option is much easier on your credit score than a bank auction or lieu in deed. 

    The problem is there are too few ethical, and financially sound short sale negotiation companies out in today’s market, and too many scam artists.  “Unfortunately, there are scammers who are more than happy to take advantage of someone who is in need of help.  If you are upside down in your mortgage and are considering a short sale, do a bit of research before settling on a representative.  This will save you from the potential of making a difficult situation disastrous.” says a representative from www.sellhomeowner.com, a short sale specialist company that helps stop foreclosure in Portland, Oregon.

    To help you identify the qualifications of your seller, here are 4 things that you must look for in your short-sale partner.
    1. The company does not charge fees.  The only companies that charge fees to the seller are scam artists who want to take your money and run.  These companies ask for a fee, because they want a “guarantee” that they will make a money off of your account, regardless of whether or not your home sells.  True short sale companies will not charge you a fee for your business, and instead work off of a commission structure based on their sales.  This means that they do not get paid unless they obtain a successful short sale of your home.  
    2. Look for a company that pays its employees with a percentage of your sale.  This means that the employees are going to work as hard as possible to get you the best price. How long have you been working with short sales or foreclosure prevention? If the answer is a short time, this can indicate someone who has recently joined this market in order to make a quick profit.
    3. Make sure the company has licensed and bonded mortgage brokers on staff. If a company does not have licensed professionals on their staff waiting to help you, then you are most likely involved with a scam.  Remember, if you want to get the best possible price for your home, you need to work with someone who has proven experience and strong relationships with lenders. 
    4. Check to confirm that lawyers, not simply sales professionals, review all contracts.  Lawyers’ are the only qualified party to review these complex contracts, and they can prevent you from making several critical errors. 
    Lastly, remember, if you are stuck in a house you can’t afford, there are thousands of people just like you. Don’t let shame or embarrassment keep you from taking steps to prevent foreclosure. Find a solid company to represent you and move forward.

    For more information on foreclosure prevention, short sales, or loan modifications, please visit RE Acquisitions, a foreclosure prevention company that specializes in short sales and loan modifications in Portland, Oregon.
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