Chris Plumb

Stop Foreclosure with Loss Mitigation Programs

Loss mitigation programs were established by the federal government and the mortgage industry in order to stop home foreclosures. They help foreclosure victims in default on their mortgages to find alternatives to home foreclosure. Every homeowner's situation is unique and each lender has their own policies regarding the use of these programs to stop foreclosure. Our extensive experience and solid working relationships with mortgage lenders allows us help you avoid the common pitfalls that many homeowners encounter while trying to work things out directly with their lender. After performing a thorough assessment of your personal finances and analyzing your lender's loss mitigation policies our professional loss mitigators will negotiate with your lender to get you the best possible solution to your home foreclosure problem. We can help you save your home and credit history through a variety of loss mitigation options:

REPAYMENT PLAN

If you have incurred a short term financial hardship and your loan is two or more months past due, your loss mitigation specialist will also consider submitting a request for a payment plan to your lender for approval. Only after reviewing your financial situation will this option be considered. All clients must be able to show that they can afford this plan in order to be eligible.

SPECIAL FORBEARANCE
(FHA loans only)(Type I and II)

If you have incurred a short term financial hardship and your loan is 90 days to 365 days past due, the loss mitigation specialist will also consider submitting a request for a special forbearance. A special forbearance is designed to provide you with more relief than is possible with a regular repayment plan. Typical approval can result in spreading the repayment over 12 to 18 months. Type II - can be utilized in an unemployment situation whereby the promise of future employment is present. We have done VA loans that resulted 27-month repayment plans.

LOAN MODIFICATION

If you have incurred a long term financial hardship, our office can assist you in supplying the appropriate information to lender to take the appropriate measures to modify the term(s) of your mortgage. This could lower the interest rate and/or extend the term of the loan resulting in lower payments. There are costs and fees associated with a modification that you will be responsible for. All property taxes must be current or you must be participating in an approved payment plan with your taxing authority to be eligible for a modification. Any additional liens or mortgagees must agree to be subordinate to the first mortgage. All requests are subject to your lender's approval.

A refunding is when the VA buys your loan from the lender. Refunding may give VA the flexibility to consider options to help you save your home that your current lender either could not or would not consider. When the VA refunds a loan under 38 U.S.C. 36.4318, the delinquency is added to the principal balance and the loan is re-amortized. Your new loan will be non-transferable without prior approval from the Secretary. If your interest rate was lowered and an assumption is approved, the interest rate will be adjusted back to the previous rate

PARTIAL CLAIM
(FHA mortgages only) (Some Freddie Mac Investor loans)

The loss mitigation specialist may assist in requesting a partial claim if you qualify. You may be eligible if your loan is 120 to 365 days past due. A partial claim results in placing your past due payments into a subordinate mortgage (2nd mortgage) between you and the Secretary of Housing Urban Development. The partial claim note will require you to start making payments when you pay off the first mortgage. There is no interest. The partial claim can be for no more than 12 months of past due payments.

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Did you know on December 20, 2007 President Bush signed into LAW...

THE MORTGAGE FORGIVENESS DEBT RELIEF ACT OF 2007

H.R. 3648

If you're at least 30 days behind on your mortgage, then your mortgage company is willing to consider completely forgiving a significant portion of your mortgage debt (provided you go through the proper process). The portion they forgive, under H.R. 3648, is NO longer counted as personal income and CANNOT be taxed by the federal government!

So if you are behind on your mortgage, I'd like to introduce you to the light at the end of the tunnel...Program 3648. Program 3648 is a nationwide initiative whose mission is to:

1. Help homeowners receive the mortgage debt forgiveness this new law encourages.
2. Rescue as many homeowners from public foreclosure as possible.

You'll be pleased to know that under PROGRAM 3648:

1. You receive all services, consultation, and information absolutely FREE. Guaranteed!
2. You're assigned a certified program administrator to do all the work for you.

I am actually the certified program administrator in Sacramento & Placer County assigned to do all the work for you. My team is currently helping hundreds of homeowners receive the debt forgiveness they need to stop a potential public foreclosure!

Now if you're like me, you're skeptical when someone claims to offer everything for free. These days, most people claiming free services have hidden costs that pop up somewhere. Well I'm pleased to inform you that is not the case with Program 3648. At no time will you ever be charged one penny.

As you can imagine, we have limited capacity to help homeowners for free. So those that call right away are usually the only ones that get helped.

I cannot emphasize enough that time is of the essence.

The longer you wait the less likely I can help you!

Call now

916-230-9087

Yours to count on,

Chris Plumb

Certified Program 3648 Administrator

P.S. Regarding H.R. 3648, President George W Bush stated,

"My administration has taken strong steps to help homeowners avoid foreclosure...The provision will increase the incentive for borrowers and lenders to work together...So this bill will create a three-year window for homeowners to...pay no taxes on any debt forgiveness that they receive."

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It is important to understand how to speak with sellers. It is very important to always ask the seller on the phone or in person, if this is a good time to speak. Always get permission first. Sellers will respect you for it.

In www.TheRealEstateArena.com, you will learn how to speak with sellers. You will learn how to quickly evaluate if a seller is motivated. You will quickly know by asking several questions if their property will work with your numbers.

I would encourage anyone who is an aspiring Real Estate Investor, a Beginner, or an Expert to sign up to use www.TheRealEstateArena.com. It has been a wonderful tool for me. It has given me the foundation and structure to being a successful Realtor working with Real Estate Investors and to be an expert at Real Estate Investing myself.

Please call me to learn how I can help you in Sacramento, Placer, or El Dorado County. I specialize in working with Real Estate Investors.

CALL TODAY: 916-230-9087 - Chris Plumb

Website: www.ThePlumbTeam.com with Davis & Davis Associates

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Fundamentals vs. Strategy

In The Real Estate Arena (www.TheRealEstateArena.com):

Donna Robinson points out the fact that fundamentals always affect strategy but that strategy cannot

change the fundamentals. An in-depth introduction to the difference between fundamentals

of any given real estate deal and the strategy that could be dictated by those fundamentals.

Fundamental issues include those facts about a given piece of real estate that are true and virtually unchangeable.

These are the circumstances or facts under which any given parcel of real property must be negotiated.

I hightly recommend www.TheRealEstateArena.com to aspiring investors, new investors, intermediate investors, and yes the experienced investor. Donna Robison is an experienced Investor & Real Estate Agent. She will uncover the mysteries of Real Estate Investing. www.TheRealEstateArena.com is by far the best for the value.

If you need assistance investing in the Sacramento and surrounding areas, please call or email me.

Chris Plumb, 916-230-9087 Direct or chris@ThePlumbTeam.com

I look forward to helping you!

ASK me about an amazing investment opportunity in Columbs Ohio!!!

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