mvp home solutions llc has given me an opportunity to save my home, will signing their quitclaim deed form cause me to lose my home to them?

Asked by jesaw2k4, South Plainfield, NJ Mon Jan 27, 2014

they said they will be acting as a third party negotiator w the bank and lender to buy time to prevent foreclosure..is this true? is this legal? I am a surrogate in charge of my fathers estate and want to stay but don't qualify any other way so they are financing and allowing me to pay mortgage monthly and state I will not lose my home but stay in my same position..how is that possible? is this in my best interest?

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11
Ray, Home Owner, New York, NY
Sun Jan 18, 2015
Great article. Thanks for the info, you made it easy to understand. BTW, if anyone needs to fill out a quitclaim deed form, I found a blank form here.
0 votes
Great article. Thanks for the info, you made it easy to understand. BTW, if anyone needs to fill out a quitclaim deed form, I found a blank form here http://goo.gl/c8FwBH.
Flag Sun Jan 18, 2015
Harold Lear, Agent, San Diego, CA
Wed Apr 23, 2014
Here is a new solution to Foreclosure help. We offer a loan that has no Credit , No income, or assets verification. The loan is 100% financing with a payment equal to a 4.5% rate...The loan also has the ability to stop foreclosure by issuing you a new loan based on assessed value... You are not required to Quit Claim the deed to some one else or short sale your property... If you want more information please contact me.
0 votes
Moretti Team, Agent, South Plainfield, NJ
Wed Apr 23, 2014
Dear Jesaw2k4,
The Moretti Team is expert when it comes to short-sales, etc. Our team was the preferred agent for a major bank with regard to short sales and foreclosures. As far as a quick claim deed.....we would strongly suggest you do not sign that document but rather speak with an attorney. A quick claim deed is just that.......you are basicaly signing over the rights of the home. In the event you decide to give us a call, we would be more than happy to sit down with you and discuss all of your options. We can be reached at (908) 912-5298/direct office line or via email at Toni@MorettiTeam.com.
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Bob Miller, Agent, West Lawn, PA
Wed Apr 23, 2014
Call your attorney, we are in the middle of a major issue with them as we speak today.
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Rodney Willi…, Home Buyer, Ocala, FL
Mon Mar 24, 2014
A short sale can leave you with a deficiency, MVP will not.

Show the documents to your attorney.
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Rodney Willi…, Home Buyer, Ocala, FL
Mon Mar 24, 2014
This is possible because they have attorneys that do a forensic audit on your mortgage for inaccuracies, then they go in with many other loans including yours and negotiate the price way down.

Once a negotiated price is agreed on, send an appraiser to your house and finance the house back to you at 90% of the appraised value.

This is not new. Investors purchase non performing notes in large quantities all the time, usually at 20 cents on the dollar. I am not sure what MVP is paying, however it will be less than the 90% they financing to you and I imagine more like less than 50%.

There is a contract that you will read, take to your attorney and sign that will protect your interest.

You are given 30 days to back out.
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Cynthia Freu…, Agent, Warren, NJ
Wed Jan 29, 2014
When you sign a quit claim deed you lose ownership of the property but you are not released from the loan!
Now inasmuch as Realtors should NOT give legal advice, we certainly can advise you to speak to an attorney. Also, you can sell your home as a short sale if you owe more than it is currently worth. I have taken a special accrediting course on Short Sales and foreclosures through the NJAR and I live in South Plainfield. I can certainly help you.
0 votes
Ray Stevens, Mortgage Broker Or Lender, Cape Coral, FL
Mon Jan 27, 2014
No, No, No!

Once they take ownership of the property, they can get you out of the property somehow. These companies only take over if they see equity in the property.

If you sell, you can benefit from the equity yourself. Get with a local realtor on how to do this.

Good luck to you. Call me if you want to discuss anything else in detail.


Sincerely,


Ray R. Stevens
GSF Mortgage Corporation
Branch Manager
Branch NMLS #1122003

NMLS #177825
Office: 239-471-7971
RStevens@GoGSF.com
0 votes
Moretti Team, Agent, South Plainfield, NJ
Mon Jan 27, 2014
Please call us so we can discuss the appropriate way to move forward with a potential short sale. We work with sellers in short sale positions and understand what needs to transpire to get the job done. We would not recommend signing any quick claim deed without first discussing this with a real estate attorney. We can be reached at 908-419-0266 or via email at Toni@MorettiTeam.com
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John Sacktig, Agent, New Jersey, NJ
Mon Jan 27, 2014
I looked at the website... grainy pictures, everyone has a "title" that does not seem right, investors, a number of "companies" does not sound all that good overall.



What do you really want to do? Email or call me and we can discuss your options as far as short sale and foreclosure.
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John Sacktig, Agent, New Jersey, NJ
Mon Jan 27, 2014
Not a good Idea at all.

You must speak to a real estate attorney. Pronto. You may lose the home. There are too many "legal" scams out there. Before you sign anything talk to an attorney.

I do many short sales, I also act as third party negotiator to speak with the bank. Anyone can do this on your behalf to talk to the bank... just do not sign your home over to them. I am not 100% sure but, sounds like they want to take over the property and you pay while they negotiate a lower deal.. meaning they will try to buy the house cheap and rent it back to you, or get rid of you at some point and sell it at a profit.

Speak to an attorney.. do not become a statistic.
0 votes
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