A well-known index of home costs in the country indicates that property values fell more than 10% in January in each large metropolitan areas and in wider geographic areas. This clearly indicates a worsening foreclosure crisis, and homeowners may possibly no longer have sufficient equity to refinance or sell their properties outright. Many of them may possibly be totally underwater by ten or hundreds of thousands of dollars.

When homeowners originally acquire their mortgage, you’ll find a huge number of players with roles in the qualifying, financing, actual estate transfer, and funding process. If these businesses or people collude to defraud the borrowers, or else force them into a loan with severely negative terms, there may be a case to be made for misconduct, unfair lending, or predatory lending, particularly in the case of foreclosure.

Whenever a house goes into property foreclosure while there is an active lease agreement, the lease must be honored by both the homeowners and the tenants. This may be accurate even after the sheriff sale of the home for a minimum of ninety days in the course of the confirmation method of the auction. This is really a new law that came into effect this year, shortly immediately after President Obama took office.

Able Financial Solutions specializes in Home Loan Modifications in the Southern California area. We’ve gone way above and beyond the call of duty to familiarize ourselves with the unique circumstances home owners contend with from Los Angeles to Palm Springs; from Orange County to San Diego. Our expertise rests in our ability to understand and connect with the average person dealing with hardships. loan modification

At Able Financial Solutions, we pride ourselves in bringing forth factual, up-to-date information that helps struggling and savvy homeowners alike make intelligent and informed decisions about Home Loan Modifications. We also acknowledge there are a lot of Home Loan Modification experts who can make the negotiation process with your lender appear more intimidating than it really is…

Short sales are currently considered one of the most unpleasant forms of real estate transactions. Nevertheless, many homeowners in California are turning to them as a way to improve their financial situation. At Able Financial Solutions, we consider short sales to be as uncomfortable as they are costly, but we also recognize that under certain situations, they are the best option for both homeowners and lenders. 

Here is our policy on finding short sale solutions for you:

Homes in are area are foreclosing in the masses. Our income was recently cut in half. The house will not sell, other homes are not selling either. Can’t refinance without options because the home is worth 100k less than the mortgage. We’re stuck. Our bank is opting out of this plan: “HOPE for Homeowners (H4H) is a program designed to assist borrowers at risk of default or foreclosure in refinancing to an affordable 30-year fixed rate FHA loan. The program is effective October 1, 2008 and will conclude on September 30, 2011.”
Any ideas?

I going through a rough time financially, can I request the bank to lower my interest rate – to reduce my payment – to avoid foreclosure? What other options can the bank offer to avoid foreclosure? I can’t/don’t want to refinance since I do not have the money and don’t want to get into further debt?

He moved out when we separated and had been making half of the payment. Can I refinance, borrow enough to pay him off his half and get him off the loan? I don’t want to sell and move.

Refinance against what equity?
TA-

Here’s my situation…
I have a condo and an Interest Only loan. The intrest rate went way up and I can’t afford it. I’ve saved up and have made the payment this month but won’t be able to do that again. I’ve tried to get a refinance but with 0 equity and a credit score just under 620, it’s very difficult. My refinance guy told me the credit score may go up in a month but I have no guarantee of that. So, I’ve decided to sell the place. I simply want out of this whole situation. I’ll rent for a while. I spoke to a realtor and my place is up for sale right now. My fear is that the market isn’t very good right now and it might take a while to sell. in the meantime, I’ll have to pay higher mortage next month that i simply CANNOT afford. It’s not a matter of spending less, etc – the money simply isn’t there. I’m not behind in any payments so but i want to speak to my bank (I’ll call on Monday). Please tell me if you think I’m doing the right thing!!