We can help:
Many homeowners are caught in an unexpected situation. Their mortgage payments have increased, their income has been reduced and their homes have lost value. You may be experiencing a similar situation. Unfortunately, you are not alone. This type of work is very time intensive and requires skilled professionals. As a result, the demand for our assistance has exceeded our human resources.
If you have already submitted an application, we will continue to do our best to assist you. However, we only accepting new Short Refinance or Hope for Homeowner clients in Virginia, Michigan and Florida at this time (unless you have a written Short-Payoff from your current lenders.) We expect to be accepting applications again in California as early as April 2009.
A Short Payoff, while not very common is when you negotiate with your current Lender(s) and they have agreed to accept a principal reduction for the amount owed on your current mortgage in order for you to refinance at current value.
| Example:
|
|
|
First Mortgage:
|
$400,000
|
|
Current Value:
|
$300,000
|
|
New Loan Amount:
|
$291,000
|
|
Closing Costs for new
loan:
|
$5,000
|
|
Current lender approves
short payoff for:
|
$286,000
|
What are the
Options?
A. Loan Modification. Go to www.FHA.gov and find a non-profit HUD counselor.
They will be able to explain your options.
B. Foreclosure. This will affect your credit and long term
ability to purchase another home in the future.
C. Short Payoff to refinance. Please Fax (858) 764-2835
D. Short Sale. You may find yourself wanting to do
something now and would like to discuss your option
of doing a short sale. We can introduce you to a
pre-qualified
Realtor who specializes in
Short Sales. Please fill out the Short Sale
Form. We will
put you in touch with someone who we think can help. We
respect your privacy (No cost, No
Obligation).
In
Conclusion:
When we started this website, Our goal was to help
homeowners nationwide keep their home and achieve long term
affordable payments.
The high number of people who want to do a
"Short-Refinance" or the "Hope For Homeowner Program"
compared to those professionals skilled and capable of
handling the volume properly... is way out of proportion.
Get
Started Now
If you are interested in a Short Refinance and have
received a Short Payoff approval, please fax it to our
office (858) 764-2835 along with a cover letter explaining
the circumstances. We will contact to you within 24
hours. If you have
decided to Short Sale instead, please fill out the
online
form.
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