About Short Sales

The recent economic climate is providing great opportunities for savvy investors. Right now there is an oversupply of empty, under-priced and foreclosure listings of homes in nearly every city in the United States. These properties are at every price level and in every condition.

Real estate markets will go in cycles. Right now we are really seeing the downward cycle and many foreclosure listings but this trend will sooner or later reverse and the prices will start to rise again. It’s undeniable. If you follow the investors maxim of “buy low, sell high” then now is the time to invest in homes and foreclosure listings because prices are so low.

Right now there are numerous ways to take the opportunity of foreclosure listings and this decreasing market. You can buy a “short-sale”, which is essentially when a homeowner sells his own home yet gets a lower price than what he owes on the mortgage. When this happens the bank ends up taking less but does not have to deal with the problems that go along with implementing the foreclosure and holding the property. Call your local Realtor and check your local MLS for short-sale opportunities.

Another way to get a great deal on a foreclosure listing is to buy at a foreclosure auction. A foreclosure auction takes place at the nearest county courthouse. The property is auctioned off to the highest bidder and the selling prices are usually quite acceptable. Many times the competition is low and the only other bidder may be the bank that holds the note. The only concern is that these homes are sold “as is” and if there are any required repairs the investor will be responsible.

If the bank has to take the property back into foreclosure they will want to get the home off of their books as soon as possible. Therefore they are often very motivated and will lower the price on these foreclosure listings until they are gone. Many times they do use a realtor so check your local MLS. Occasionally they will do some repairs but sometimes they will sell the property “as is”. Do your due diligence inspections before you close.

An advantage to investing in real estate and foreclosure listings is that even if the economy continues to go down you will never lose your entire investment. Unlike making a awful investment in the stock market, real estate will always hold some value. Prices on real estate will fluctuate at times but the prices will increase again. Foreclosure listings and real estate will always be a smart investment if you invest wisely.

Whenever you purchase real estate and regardless of how or whom you purchase it from you should always make sure and complete your own due diligence. You need to make sure that appropriate inspections are completed and that your funds are in order whether you use bank financing or cash.

But now is an an opportune time to invest in real estate and foreclosure listings in almost any market in the United States because the prices are low and the potential for profit is very good.

Here at YourFinancialSolution.com a division of AWM we strive to provide as many options/solutions as possible in these trying times.

Whether you want to get out of debt, get caught up on overdue bills, refinance your current home, buy a new home, or if you have been hit by one of the many recent economic blows we also specialize in short sales and mortgage loan modifications.

If you are interested in paying off all your debt including your home, we have the program for you! We are now offering the MMA program (or Money Merge Account). The MMA will create the ability for you to be completely debt and mortgage free in an astonishing amount of time. If you would like more information check out: http://www.yourfinancialsolution.com/mma-account.htm

We are also now offering the Equity Now Program. This program will help those homeowners who are currently upside down in their home and are unable to sell or refinance due to this lack of equity.

By offering the portfolio of financial solutions we do, we are able to address any situation you may be facing.

Feel free to pick up the phone and give us a call anytime to get more information 877.246.8788. You can also log on to the website at: yourfinancialsolution.com to access more information on any of these programs and more.

Wishing you financial freedom! All of us here at YourFinancialSolution.com Call us: 877.246.8788 or Email us: http://yourfinancialsolution.com/contact.htm

If your home is on the verge of foreclosure or you fear the chance of it, you certainly will do any possible means to save it. But the problem is how you will do it? The first step, is going to your lender and asking for help.

If contacting your lender at the first sign of financial problems seems to be not so good of an idea. It may be because you are embarrassed to discuss money issues to others or you simply don’t see the need to inform your lender right away of your present financial standing. But the truth is, asking for your lender’s help will save you a lot of trouble and it will could help you save your home.

People often have the perception that lenders, like banks, think only of themselves and don’t care about the future of the borrowers. This leads to the common notion that lenders show no mercy to homeowners who have defaulted on payments and will take the homes when the very first window of opportunity opens. The truth is lenders like owners will do everything they can to avoid home foreclosures. So again, the best way to save your home is to work with your lender to solve the problem.

If you miss payments for 3 consecutive months normally the lenders usually send a Notice of Default. However if you know your in trouble DO NOT wait until you get the notice to take action. Call your lender as soon as possible. Inform them of your reason of default on a payment and ask for an alternative payment schedule or temporary lower rates until your finances have recovered. You can also ask for Forbearance where your lender waives some of the penalty fees as a result of default or a mortgage refinance without going through the process of re-application. Most mortgage lenders are more than willing to help you to avoid repossessing your home.

Talk to your lender, inform them of the situation, and ask for payment alternatives. Don’t wait too long before you make a move to save your home. Act fast. Understand the gravity of the situation and do something. It is your obligation to pay your mortgage but when worst comes to worst, your lender will help you keep your home. This is more true during economic downturn.