Brier, WA

LOAN MODIFICATION BRIER, WOODWAY, MUKILTEO, WASHINGTON

Most Washington homeowners have witnessed the housing values around Brier, Woodway, and Mukilteo, Washington drop dramatically over these last years, while unemployment continues to escalate along side a growing number of foreclosures. As reported in recent news, at least half of American homeowners will owe more on their mortgages than what they owe ("underwater") in 2011, and without modifying these loans distressed homeowners will continue to face the loss of their homes.

The Obama administration is now putting greater pressure on lenders and their mortgage servicers, who act as bill collectors on behalf of investors who own mortgage bonds. On Aug. 4 the Feds unveiled the first of their monthly "name and shame" exercises, which publishes data on the loan modification efforts of about three dozen companies. Contrary to what many may believe, it costs the lenders more for a foreclosure than to modify the loan, and coincidentally lenders are more willing to modify the loan in order to prevent foreclosure.

Loan Modification permanently changes one or more of the terms of your loan which can lower your payments to make them affordable, correct defaults, and offer a fresh start. By modifying the loan, borrower can meet the terms of the new loan, and continue to do so into the future. Mortgage mediation allows homeowners to stop the foreclosure of their family's home, while lowering the monthly payments and modifying the loan terms.

Loan Modification:

• Lowers the homeowner's monthly payments;
• Reduces the principle balance of the property;
• Adjusts the length of the loan terms;
• Lowers the loan's interest rate;
• Swaps a rising adjustable rate for an affordable fixed rate;
• Corrects payment delinquencies and defaults;

Recently, the Obama administration introduced the Home Affordable Modification Program (HAMP) to help Americans modify their loans and by providing incentives to mortgage lenders to complete more loan modifications for their customers. Amidst one of the lowest points our economy since the 1970s, thousands of Brier, Woodway, and Mukilteo, Washington homeowners now face rising unemployment, increasing interest rates, plummeting housing values, and losing their homes out of no fault of their own. With a Free Loan Modification Evaluation, Washington homeowners can freely discover the answers to any foreclosure questions they may have, and start the process of saving their home.

According to the Department of Treasury, "Anyone with high combined mortgage debt compared to income or who is 'underwater' may be eligible for a loan modification. This initiative will also include borrowers who show other indications of being at risk of default. Eligibility for the program will sunset at the end of three years." As reported by the LA Times, "This program applies to borrowers who are unable to make - or are struggling to make - mortgage payments that exceed 38% of their monthly income."

Those homeowners that choose to modify their loan on there own, face even greater challenges. Lost in a flood of modification requests, borrowers often wait weeks or months by their phone in hopes of an update on their situation. As has been reported in recent news headlines, lenders are not doing all that they can to help homeowners modify their mortgages, and the vast majority of modification requests have been denied. A large majority of borrowers were also encouraged, directly or indirectly, by their lenders to fall behind on their mortgage payments in order to qualify for modifications that never came. More than half of the clients who walk through servicers doors have been turned down when they tried to secure a loan modification on their own.

Brier, Woodway, and Mukilteo, Washington homeowners will be able to save millions by getting a home loan modification or mortgage refinance using President Obama’s "Making Home Affordable" plan. Any homeowner now facing foreclosure, or about to be, should immediately begin exploring all the options available to them, including the new government programs designed to help you get a successful loan modification to save your home.

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Brier Lights - not the holiday decorations, but the lights really went out for over two hours yesterday!

Power went out to many Brier and Lynnwood homes yesterday around 3:40 when according to the Snohomish PUD, a semi hit an electrical pole. It is amazing how much we rely on electricity!

After two hours of being in the dark in Brier, I called and was told that they would have the power back on within the hour for all those except the twenty or so homes that are directly surrounding the pole. These lucky winners get to have their power out for about 48 hours because it takes a while to replace a pole apparently.

The pole in question was neer Larch and 215th and driving around was not easy with all the lights down as well. The PUD worked hard to get most of us back in the light, but based on my two hour experience yesterday, my heart goes out to the houses who remain in the dark. If you know anyone in that area, please check on them and offer some help!

Lynnwood Real Estate: 22424 Old Poplar Way, Brier, WA 98036

Lynnwood /Brier real estate at it's best:

This is a great opportunity - Large home on acreage in heart of sought after Brier - perfect location close to both I-405 & I-5 for easy commutes in all directions.

Four bedrooms & 3.25 baths with three fireplaces (including one in the master suite!) - this home has great spaces & waiting for your touches!

Outbuildings include huge (approx 1800 sq ft) 5 car garage with RV sized door, shop area, and more. Horse pastures & stables. Property is on two parcels.

$1,198,000

22424 Old Poplar Way

Brier WA real estate has lots of great options - the homes here are quite wonderful and this is an affordable Seattle suburb! If you are looking for a good combination of great homes, lots of land, decent schools, and wonderful proximity to shopping and other amenities, then Brier WA might be a good choice for you. It is situated at the junction of I-5 and I405 North of Seattle and offers an easy commute to Seattle, Everett or Bellevue.

Brier homes in the last year have become affordable opening them up for new residents - this is a great town for relocation and although its retail base is limited, it is surrounded by lots of retail - all within less than a mile or so in all directions. Brier itself has a small mom and pop grocery store, a great pizza place, coffee, and a few other small service places - it also has its own branch of the Sno-Isle library system and lots of parks and open spaces.

Brier real estate prices: Housing ranges from the mid to high $200k up to a million with platted neighborhoods or homes on acreage. This is a great place for horses and the city has its own horse arena and a skate park, too!

Hang tight...

Brier real estate has gone down in value in the last few months making it more affordable for many new members of our community. Long term, don't worry. You love your home and this community so stay put and the equity will come back. In the mean time, you have to have some where to live anyway, and if you know anyone interested in living in our city, well now might be a good time to reach out to them.

You can search for some great Brier WA homes here:

Brier Real Estate

I know of a great one down the street, too, in Countryside Estates if you are interested:

21404 32nd PL W Price just went below 500k for 4 bedrooms and over 2600 sq feet - plus a huge garage and mountain views. Let me know if you know anyone interested in it - the listing agents gave me permission to advertise it and I am sure I could get closing costs paid somehow in the paperwork!