. I am a New Jersey real estate agent. The reason of this e-mail is to inform everyone that at this time where the market is very critical for homeowners who are losing their homes, and can't afford of paying their mortgage any longer;
I HAVE GOOD NEWS TO TELL YOU!!!!
As you already know from the news, radio etc; many homeowners are now losing their homes not because of the traditional causes like, unemployment, unexpected death in the family or illness, but just because they feel it makes no sense to keep paying for a home that had lost most of its value and equity compared to the time when they purchased that very same home. Furthermore, some mortgage companies had offered their client’s adjustable rate mortgage know as ARM mortgage (where the interest rate will fluctuates after a certain period of time, and at the long run the mortgage payment will increase after the expiration of the ARM loan).
Pre-foreclosure homes and short sale are my area of expertise at this time. What does the mean for you? That means that we can help you or anyone that you know that is going through the same situation to prevent their homes to go to an actual foreclosure. What does a "Short Sale" means; a sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owned on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes (LOWER PAYMENTS). With a short sale after a bill signed by the President George Bush on December 20, of 2007 called; H.R. 3648: Mortgage Forgiveness Debt Relief Act of 2007; there will be no money out of pocket from you, the owner, but also there will be no proceeds coming to you. What a short sale will do is to ease the transition of losing your home. It is a better option than having a full foreclosure on your record.