![[Photo: Avoid Foreclosure]](http://www.hud.gov/foreclosure/foreclosure.jpg)
Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them?
If you are unable to make your mortgage payment:
1. Don't ignore the problem.
The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.
2. Contact your lender as soon as you realize that you have a problem.
Lenders do not want your house. They have options to help borrowers through difficult financial times.
3. Open and respond to all mail from your lender.
The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.
4. Know your mortgage rights.
Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the foreclosure laws and time frames in your state (as every state is different) by contacting the State Government Housing Office.
5. Understand foreclosure prevention options.
Valuable information about foreclosure prevention (also called loss mitigation) options can be found on our site at www.thewatsongrouprealty.com .
6. Contact on of The Watson Group's (HRC) Certified Home Retention Counselors Today!
The Watson Group Realty provides free or very low cost housing counseling. We can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance. Get the help you deserve by calling (281) 797-3841or visit www.thewatsongrouprealty.com.
7. Prioritize your spending.
After health care, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.
8. Use your assets.
Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.
9. Avoid foreclosure prevention companies.
You don't need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month's mortgage payment) for information and services your lender or a The Watson Group Realty will provide to you for free.
10. Don't lose your house to foreclosure recovery scams!
If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional, or from one of The Watson Group Realty's (HRC) Certified Home Retention Counselors.If you are seeking some one to consult with that you can trust give us a call. We will be happy to speak with you about how we can help you protect your home ownership rights. 281-797-3841
Brought to you by!
Laura & Rod Watson
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.katyforeclosurepreventionspecialists.com
www.houstonforeclosurepreventionspecialists.com
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Foreclosure doesn't happen overnight |
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Have you missed your house payment?
Haven't missed a house payment yet, but afraid you might? Has your financial situation changed due to a mortgage payment increase, loss of job, divorce, medical expenses, increase in taxes or other reasons?
If it's becoming harder to make your house payment each month:
Few people think they will lose their home, they think they have more time. Here's how it happens. Note: Time line varies by state.
Important: Stay in contact with your lender and get assistance as early as possible. All dates are estimated, and vary according to your state and your mortgage company. To avoid foreclosure and get the help you deserve, contact The Watson Group Realty today for a free consultation. (281) 797-3841 |
Brought to you by!
Laura & Rod Watson
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.katyforeclosurepreventionspecialists.com
www.houstonforeclosurepreventionspecialists.com
The Short Sale
Did you know that there are actually options available to you should you find yourself facing foreclosure and upside down in your home? 
One of these options is a Short Sale, which occurs when a lender agrees to accept less than the actual balance of the loan as payment in full, allowing you, the homeowner to get out of the property and start over.
Why are banks willing to do this? Because the alternative is foreclosure, and the foreclosure process is usually far more expensive than the discount that lenders take on a Short Sale.
How the Short Sale Affects Your Credit
What happens to your credit as a result of this, you may ask? In almost every case we have ever worked, the homeowner walks away from the situation free and clear with no further damage to their credit beyond the effect of the late or missed payments that led up to the situation.
The bottom-line: a Short Sale proves to be a "win-win" solution for everyone involved.
How Do We Get Paid?
In the Short Sale transaction, we primarily act as the real estate agent, which enables us to be the liaison between you, the homeowner and your bank, as well as all other parties in the transaction. For this service, the bank pays us a commission on behalf of the homeowner. The homeowner doesn't pay us anything!
Are we Investors?
So you might wonder, since we are also Investors, why don't we actually purchase these properties as investments, since we could buy them at a discount. Well, as any smart investor knows, to make an investment worthwhile, the property must be purchased at no more than 65-70% of its after-repair-value. Generally, in a Short Sale, unless the property is in horrific condition, the bank will not discount the loan below 75-85% of its appraised value.
Since 95% of the calls we get come from first-time homebuyers who have bought brand new homes in the last 2-5 years, the banks simply cannot discount the property enough for it to qualify as an investment opportunity for us.
When we first started our Short Sale business, our primary objective was to purchase investment properties through this process. We quickly learned, however, that it was like looking for a needle in a haystack to find a good investment candidate.
We Knew We Could Help 
We began to realize, however, that we could develop a business helping homeowners get through this process and walk away from a potentially devastating situation with hope, our focus quickly shifted to simply offering our services as real estate agents. Furthermore, because so few real estate professionals have the information and experience to help their clients navigate this process, we have dedicated ourselves to providing a professional service to distressed homeowners in the Houston community.
If you have any questions or would like a free consultation on how we may be able to help you avoid foreclosure with a Short Sale. Contact us at 281-797-3941 or just click on the link below to request more information. http://www.laurawatson.remax-texas.com/remaxtx/modules/global/forms/consumerrequest.asp?AccountID=128831
Brought to you by!
Laura & Rod Watson
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.katyforeclosurepreventionspecialists.com
www.houstonforeclosurepreventionspecialists.com
| Request Free Monthly Foreclosure List Here! |
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Hi, for those of you seeking to find a great deal on foreclosures visit www.thewatsongrouprealty.com to sign up for a free updated list of pre & foreclosed properties in the greater Houston area. |
Request Free Monthly Foreclosure List Here!
Brought to you by!
Laura & Rod Watson
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.katyforeclosurepreventionspecialists.com
www.houstonforeclosurepreventionspecialists.com
With lower home prices and attractive mortgage rates, 2009 will present plenty of bargains for real-estate shoppers. But as the historic bust continues, Americans everywhere are learning a painful lesson about homebuying: Property values don't always increase. People looking to purchase a home this year should make sure they're buying into a community that can support long-term value. With the help of housing experts, The Watson Group Realty compiled a list of the top six ingredients of strong housing markets
1. A well-groomed neighborhood: Well-maintained homes and landscaping have a positive effect on property values in a community. By caring for the appearance of their homes, residents help to create a more aesthetically pleasing environment that future real-estate hunters will want to buy into. So when you're eyeing a home, make sure to take a drive through the entire neighborhood. Take note of how the neighbors care for their homes, lawns and gardens. Run-down houses and abandoned cars are big red flags.
2. Good schools: Given the importance of education, communities located within strong school districts tend to support higher home prices. Parents, after all, will want to move into the communities with the best educational opportunities. "The school district is important in terms of increasing demand for that particular area," says Richard Moody, chief economist at Mission Residential. Would-be homebuyers can determine the strength of a local school system by accessing online information from local governments or community Web sites.
3. Low crime: Low crime rates also support strong home values. Since nobody wants to live in a neighborhood where they feel unsafe, crime limits housing demand in a given community. As a result, it's important to obtain crime statistics for the neighborhood you're considering moving into. The best way to do that is to contact the local police department. The police department is a public utility, most medium- to large-sized [communities] have a public information [officer] that is dedicated to interacting with the public. By contacting this office, home shoppers can get their hands on all the information they'll need to determine a community's level of safety.
4. Close to public transportation: Proximity to public transportation or commuter rail can also help boost home values. Americans are increasingly willing to pay a premium for properties that allow them to be less dependent on cars. "Access to bus lines and commuter rail lines is of huge value, the price of fuel is going to go up again and a lot of clients are saying, 'OK, how do we position ourselves to minimize that impact?
5. Favorable population trends: It's also important to look at the population trends in the city you're considering moving to. You want to see a track record of steady population growth, which supports growing demand for housing, which will in turn support rising home values. Such data can be found online at the U.S. Census Bureau, or through local county or township Web sites.
6. Healthy employment landscape: Employment plays a key role in population trends, as workers migrate to locations where they can find jobs. Thus, a healthy employment outlook is a key component of a strong housing market. If you are in one of these Upper Midwest cities and you've got layoffs, especially in a sector like automotives where the jobs are disappearing and they are not coming back, that is a huge problem. Home shoppers can obtain economic data from the local government or chamber of commerce. Pay special attention to the unemployment trends and find out if any new companies are slated to move into - or out of - the area. A lot of communities have been trying to attract the sort of economically insensitive industries like biotech and [pharmaceutical companies]. If you've got an area where that kind of business is being brought in - through tax incentives or other efforts - that would be a positive for your local area.
Brought to you by!
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.cincoranchkatytexasnewhomes.com
www.houstongalleriahomesforsale.com
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The Watson Group Realty specializes in: Residential Listings, Foreclosure Prevention, Short Sale Listings, REO Properties, and New Home Sales in Katy, Cypress, Galleria, Medical Center, and Inner Loop
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