Alan Faitel

Benefits to the Buyer-Homeowner:

You get a fully fixed up home the way you want it.
You get a low monthly payment with no PMI (Private Mortgage Insurance)
No money out of your pocket, and have no money in the home.
You will have equity in the home.

The Home Owner Land Contract Rehab Program is designed to help homeowners take advantage of the great deals on bank-owned homes that we have in Michigan. The buyers need only a small down payment and can fix it up the way they want their home to look. The buyers may get all their money back they have invested into the home, so they have no money out of pocket. The buyers can have a fixed up home with equity and a low payment with no PMI and no money out of their pockets.

How a MLF rehab program works:
Let's say the buyers found a bank owned home that needed repairs. MLF buys the home and sells it to the buyer on land contract with a small down payment.
The land contract for 24 months at 11% and interest only and there is a $5,000 discount if the land contract is paid off in 6 months or less. In some deals there maybe escrow money for renovations.

We fix up the home and refinance the home and you get to enjoy the benefits:

You get a fully fixed up home the way you want it.
You get a low monthly payment with no PMI (Private Mortgage Insurance)
No money out of your pocket, and have no money in the home.
You will have equity in the home.

Please visit http://www.oaklandmichiganhomes.com to learn about other programs we offer.

Call Alan at 248-363-0100 or email afaitel@yahoo.com

Hundreds of thousands of people in the United States are losing their homes to foreclosure. Whenever anything happens in large numbers entrepreneurs and business people will find a way to offer a service and make a profit. Some are reputable business people with good intentions; they offer a valid service and deliver what they promise. Others are scammers, preying on the weak and helpless, offering them a solution that sounds "too good to be true." Remember, as a rule, if it sounds too good to be true, it usually is!

Increasing Numbers of Foreclosures Leads to More Foreclosure Rescue Scams!

Certain lending practices, including the adjustable rate mortgage, combined with our current market slump and increased unemployment has contributed to the increased number of people losing their homes to foreclosure. Sadly, thousands more will face foreclosure in the next year. This is a great opportunity for the foreclosure rescue scammers. There are lots of potential victims and they are desperate for help. They are easy to find because the notice of default is public record.

What Types of Scams are being used?

One popular scam is known as the sale-leaseback scam. This one worked really well when homes were appreciating in value or if the homeowner had a lot of equity in the home. The scammer agrees to buy the home, pay off the mortgage and then lease it back to the homeowner until they can buy it back at a later date. The contract is very confusing and the homeowner doesn't realize how much their payments are going to increase over time, making it impossible for them to make their lease payments. Perhaps the contract will provide for very difficult buy-back terms, making it impossible for the occupants to regain ownership. The scammer's plan is to prey on the distressed homeowner's savings and their desire to keep their home. Once all of their financial resources have been exhausted, they are ultimately evicted from their home. During this process, the scammer counts on the home appreciating in value so he can market and sell it for much more than what the previous owner would have paid him for it.

The sale-leaseback scam has been modified to fit today's declining market. The scammer agrees to help by bringing the mortgage payments current and making all future payments while the homeowner pays an affordable amount of rent to remain in their home. Again, the contract is very confusing and "scammer-friendly" with hidden fees and terms that are impossible for the homeowner to meet. The scammer might show some good faith in bringing the payments current, but eventually, they will stop paying the mortgage, taxes and insurance, allowing the foreclosure to proceed, while they continue taking rent payments from the owners. They never really assumed responsibility for the mortgage payments; therefore, the homeowners who are paying rent are still on the hook to pay the mortgage.

Collecting Big Fees for Little Service

Some foreclosure scammers will claim to be foreclosure specialists who work with lenders to modify the terms of a mortgage and stop the foreclosure. They tell the homeowner to stop making payments immediately, so they will be able to pay the scammer a fee. The scammer might tell them not to bother opening any more mail from the mortgage company; just give them the mail and they will work on getting the matter resolved.

Sometimes, a scammer will collect a large fee and perform some service, like mortgage modification negotiation, which is something the average homeowner doesn't realize that they can do themselves.

In any case, the homeowner is under the impression that the scammer is providing a service and handling the situation. By the time the homeowner realizes that he has been scammed, it's too late; the foreclosure process has moved forward and the redemption period is up.

Stealing Title to the Home

In some rescue scams the homeowner does not realize they are signing ownership of their home to the scammer. The scammer explains a program that sounds good to the desperate homeowner and he just signs on all the lines, as indicated by the scammer. Some scammers have the nerve to get a legitimate contract signed, and then later, they forge a deed and another set of documents, thus, stealing title to the home. By the time the homeowner realizes that they have been duped, the home has been sold to another party!

How to Protect Yourself from Foreclosure Scams

The first thing to know is what the foreclosure scammer looks like. The scammer uses many methods to gain the trust of the distressed homeowner. Here are some examples:

•Ø They contact you by phone, mail or door knocking.

•Ø They are slick, fast-talkers who prey on your desperation. They know what you want to hear and that is what they tell you, using words like "quick and easy," "stop foreclosure now," "save your home," "instant debt-relief," and so on.

•Ø They offer guarantees and customer testimonials

•Ø They have something in common with you; ethnic background, senior citizens, religious beliefs, schools they attended, or whatever they need to gain your trust

•Ø They tell you to cease all contact with your lender and pass on mail or phone messages to them to handle.

Legitimate foreclosure consultants rarely approach you; they advertise like any other business and you must approach them for help. There is nothing quick and easy about the foreclosure process. There are no guarantees of a lender's cooperation and anyone can make up customer testimonials. It is easy to find out church you attend, what language you speak, the clubs you belong to, etc...then pretend to have this in common with you. A foreclosure specialist will never tell you to stop communicating with your lender; this is the biggest mistake one can make and a sure guarantee that the foreclosure process will move ahead at full speed.

Steps to take to Help Yourself

Now that you know how to spot a foreclosure scammer, you can take the necessary steps to protect yourself.

Keep in touch with your lender. Contact your lender immediately when you anticipate financial problems. You might qualify for a special refinance program or you can ask for a mortgage modification or enter into a forbearance agreement.

Seek help from a legitimate foreclosure consultant who can explain the foreclosure time line and instruct you as to how to proceed. Learn all you can about the foreclosure process in your state; understand the deadlines and respond to all documents you receive from your lender. An honest foreclosure specialist will be able to explain the meaning of letters and documents you receive if you do not understand them. Know where you're at in the foreclosure process and when you are going to lose title to your home.

Check with the state to learn about the guidelines that a foreclosure consultant must follow. Some states require a consultant to give you a certain time period to cancel a contract or agreement that you enter with them. Find out what agencies you need to check with to determine the credibility and honesty of a foreclosure consultant. The internet is a great source for information; Google search the consultant you're considering doing business with. If there have been complaints, you're sure to find a press release or other documented information.

Never make a verbal agreement, get everything in writing, and be sure to read and understand everything clearly before signing any document. Do not sign any document that is blank or not completely filled out. Lastly, avoid the consultant who asks you to sign a deed, giving them ownership of your home. This is one of the biggest red flags there is indicating one is a foreclosure rescue scammer.

This article was written by Alan Faitel, a real estate broker and foreclosure specialist who has been in business for over 22 years. Alan is familiar with the foreclosure process and he can help distressed homeowners no matter where they are in the foreclosure time line. He will clearly explain all your options and what he can do to minimize the pain of foreclosure and reduce the damage that is done to your credit. Learn more about the services Alan offers at http://www.oaklandmichiganhomes.com

If you are facing foreclosure you are not alone. Thousands of people have lost their homes to foreclosure in the last year and thousands more will lose their homes in the next year.

Who could have seen this coming? It all began with the low interest rates encouraging people to refinance their homes and use the equity to make new purchases or pay off other debts. The Adjustable Rate Mortgages (ARMs) looked like a great deal. People were able to get 100% financing at a very low rate, fixed for 3 years. Many were aware that the rate could increase significantly, but they weren't worried; they would simply refinance before the ARM reset.

But, two devastating things happened. First, unemployment increased; many people lost their jobs; therefore, they were unable to qualify to refinance their home. Now, they are stuck with a mortgage payment that they cannot afford. Second, market values declined sharply, so the homes cannot appraise for anything near the amount owed on the mortgage; therefore, another reason refinancing is impossible.

As the ball keeps rolling, people are walking away from their homes. Investors are taking a huge loss and mortgage guidelines are getting strict. Even people with very high credit scores are finding it difficult to get a new, fixed rate mortgage.

Foreclosure hurts, no matter what the cause. People facing foreclosure are devastated, humiliated, and feeling hopeless. They wonder who to turn to as they receive countless phone calls and letters from their mortgage company, demanding payment.

To add to the confusion, they receive letters from lawyers or other companies promising to "save your home from foreclosure" or "stop foreclosure now". Some of these companies are somewhat reputable, but many are preying on your last dollar. They ask a high fee for a service that gives you false hope and ultimately does not provide a solution. Some even promise to take over your mortgage payments while you lease your home from them. You pay them, they don't pay your mortgage, the foreclosure process continues and you still lose your home.

We can help. Our service to you is ABSOLUTELY FREE! We will work with your lender to get them to agree to a short sale, where they accept less that the amount owed on your mortgage. We will ask your lender for WRITTEN SATISFACTION of your debt, so that they do not come after you for the balance owed; they will not file a deficiency judgment against you. You satisfy the bank, avoid having a foreclosure on your record, and get on with your life.

We will help you find another home to purchase on a lease option or a land contract. We will refer you to an agency that will help you restore your credit so you can eventually refinance your home with a fixed rate mortgage.

We do get paid for our services, but not by you! We do offer a guarantee, but not one that sounds "too good to be true". To be honest, there is no guarantee that your lender will work with us. There is no guarantee that they will be cooperative or that they will accept an offer from one of our investors. The only thing we can guarantee is that you will lose your home and your credit will be destroyed if you do nothing! So, you really have nothing more to lose if you call us for a free consultation today!

Call Alan at 248-363-0100

Email: afaitel@yahoo.com

Website: http://www.oaklandmichiganhomes.com

Are you tired of coming home from work to listen to messages from your mortgage company about past due payments?

Would you like to enjoy dinner without being interrupted by phone calls from your lender?

The time has come to put an end to the harassing phone calls from your mortgage company!

Foreclosure is devastating! It is humiliating; you would like to get help, but it's just so embarrassing. You feel helpless and alone, not to mention fearful of losing your home and the feeling of letting your family down.

Remember two very important things:

You are not alone

You are not a dead-beat

It began in the late 1990's when the all too popular, sub-prime mortgages and adjustable rate mortgages (ARMs) at 100% financing, created the mortgage melt-down. The ARMs reset, interest rates went up, mortgage payments were increased to more than the homeowner could afford. The plan was to refinance before the ARM reset; however, values declined and your home is no longer worth what you owe. So, you and other good, responsible people, with high credit ratings, are in the same situation. You are unable to make your mortgage payments and refinancing is impossible.

Two more important things to know:

You have rights!

You have options!

We can help you, no matter where you are in the foreclosure process. Let us put an end to the distressing phone calls and threatening collections letters from your lender.

Why call us?

We can help STOP FORECLOSURE

We offer our services to you at NO CHARGE!

We will prevent a foreclosure from showing up on your credit report

We will work with your lender to get WRITTEN SATISFACTION of your debt

The bank will not come after you for the balance of the note

The bank will not file a deficiency judgment against you

A foreclosure can quickly slash over 250 points from your credit score; this takes years to restore, making it nearly impossible for you to make future purchases, like a new car, that requires financing. If you do get approval, the terms will be tough, the interest rate will be high and the debt will be difficult, if not impossible to repay.

We are experts at negotiating short sales. A short sale is where your lender agrees to accept less that you owe to completely satisfy your debt. The bank doesn't really want your home; they have enough non-performing assets on their books. They are losing money with the holding costs of these empty homes, not to mention the liability risk. Sure, we're asking the investor to take a loss by accepting less than what you owe, but he stands to lose much more if he doesn't accept our short sale offer.

Are you ready to STOP FORECLOSURE? Are you ready to restore your peace of mind and get your life back in order? Our service is FREE to you. You have nothing to lose and everything to gain.

We will also help you find another home which you can purchase on a lease option or land contract. We will refer you to someone who can help you restore your credit so that you will be able to refinance your new home with a fixed rate mortgage.

Call Alan at 248-363-0100

Email: afaitel@yahoo.com

Website: http://www.oaklandmichiganhomes.com

Do you have bank owned listings available?

Do you have the time and energy to negotiate the short sale?

Will you consider an investor offer?

Would you like to "double-dip" the commissions?

Our investors work with short sale specialists; we are experts in the field and we are professionals.

Benefits of working with The Short Sale Group:

Our offer does not "tie up" the property or take it off the market

You keep control of your listing

You continue to show the property

You can collect the sellers and buyers commission

You don't have to spend your valuable time negotiating with the bank

You most likely have several listings that have been on the market for quite some time now. With market values declining, sales are few and far between. We provide a valuable service to realtors who have been trying to sell their listings with no luck in today's market.

Yes, we will be presenting an investor's offer, a short sale, at a significantly lower amount than the asking price. We will be doing all the work to negotiate with the bank to convince them that they are better off taking a financial loss on a quick sale than they would be to continue holding this non-performing property while market values continue to decline as the empty house poses a serious liability risk.

Call Alan at 248-363-0100 to learn more about this service

Email: afaitel@yahoo.com

Website: http://www.oaklandmichiganhomes.com