Peter Testa

Beware of Foreclosure Rescue Scams

If you are facing financial difficulty & have either stopped paying your mortgage or are in danger of not making your next payment there are options.

Foreclosure is not a good option- a Foreclosure stays on your credit record for many, many years & some lenders are foreclsoing on homes & then going after the owner for the loss on the house.

With the ever-growing number of homeowners defaulting on their mortgages there are almost an equal number of loan modification companies that will promise you they will save your home from foreclosure if you pay them a Service Fee of anywhere from $1,000-$5,000. Don't be vicitmized by a scam.

Follow these tips & avoid being the next victim of a rescue scam:

There is never a fee to get assistance or information from your lender or a HUD-approved housing counselor.

Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan.

Beware of anyone who says they can "save your home" if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.

Never make your payments to anyone other than your mortgage company without their approval.

What to do?

Peter & Laura are licensed to provide Real Estate services to Connecticut families in danger of losing their homes due to mortgage delinquency. This is nothing new to us; we've helped dozens of homeowners avoid foreclosure through the short sale process. A short sale is a sensible solution when faced with a financial hardship that is preventing you from meeting your monthly mortgage obligation. Reasons such as a loss of a job or loss of a spouse to divorce or death are common examples of financial hardships. Many other reasons exist as to why you may be facing financial hardship.

If you are in the sort of situation described here please call us for a consultation regarding your options. We'll be happy to walk you through the process & let you know what can be done to sell your home free & clear of any debt. Don't get caught in a scam & don't be the guinea pig for an inexperienced Agent looking to learn the short sale process by taking your home on as the test.

Contact Peter Testa (203) 442-3873 or Laura Testa (203) 648-6648 today. Don't let valuable time slip by while you continue to default on your payments. Call us and find out what your options are today.

- Peter & Laura Testa -

Nationwide Homes, 57 North St., Suite 322, Danbury, CT 06810

- A Licensed Connecticut Real Estate Brokerage Serving the State of Connecticut -

Are you experiencing increasing difficulty making your monthly mortgage payment?

Are you currently in default on your mortgage?

If you answered YES to either of these questions then we can help you. Peter & Laura Testa are Connecticut Licensed Realtors specializing in Short Sales. They have successfully completed dozens of short sales resulting in a 100% successful completion of every deal they have taken on.

What if my home is worth less than when I bought it?

What if I don't have the money to pay for a Realtor?

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the current debtor. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrower.

Realtor fees, Attorney fees, Home Owner Association fees (& many other costs) are covered by the Lending Institution. There is never a fee to take your short sale.

Take a look at just a few of our SHORT SALE SUCCESS STORIES

SOLD! JUNE 2009

16 Grace St., Danbury

Listed at $199,000, SOLD for $202,000

SOLD! JUNE 2009

84 Hayestown Rd., Danbury

Listed at $279,000, SOLD for $280,000

SOLD! MARCH 2009

32 Wondy Way, Danbury

Listed at $249,999, SOLD for $235,000

ASK US FOR OUR COMPLETE LIST OF SHORT SALE SUCCESSES. REFERENCES AVAILABLE.

If you are interested in finding out more about doing a Short Sale on your property contact Peter Testa at (203) 442-3873 or Laura Testa at (203) 648-6648.

Peter & Laura Testa - Nationwide Homes & Consulting - 57 North St., Suite 322, Danbury, CT 06810

The Standard & Poor's/Case-Shiller home price index of 20 major cities climbed 1 percent from July and home prices rose for the third straight month in August. A key sign for a broad and sustained housing recovery, the latest index numbers show a widespread turnaround with prices rising month-over-month in 15 metro areas since June. If increases remain consistent we can safely assume that we have seen the bottom of a declining market in a majority of the major cities referenced in the index.

Although the majority of markets have seen a turnaround Prices in Las Vegas prices have plunged by 56 percent since peaking in April 2006. Vegas has the largest peak-to-trough decline of all 20 cities in the index.