Avoid foreclosure now and save your family’s home with a REAL loan modification. John & Sally S. of Orlando, FL, just knew they had lost their home. Months behind on payments and too scared to answer their phone or call their lender, they packed and waited for the moving truck.
Sally made one last phone call to Sarasota Realtor Mike Payne.
It was clear, John & Sally desperately wanted to save their home!
Yet, they believed time had run out on them.
John & Sally believed they missed their opportunity to fight.
When Sally called me, she called about renting to own at Rent To Own Florida. She told me they didn’t want to lose their home but that their house was boxed up.
Sally admitted they were months behind in payments, and they did not want to come home one day to their possessions thrown onto the front yard.
Would you believe, Sally didn’t even know how many months behind they were (they were 5 months behind).
She also didn’t know if they had been served foreclosure papers (they had been served).
When Sally told me they didn’t want to lose their home, I shifted gears to try to help this family save their home.
They wanted to save their home. No short sale…just yet. No rent to own…just yet.
To Sally, I made no promises other than to assure her I would put her in touch with a mortgage professional who has helped many other families save their homes.
Without getting her hopes up, I left her with a homework assignment before talking with the mortgage professional. Over and over, Sally kept thanking me and apologizing for not facing their problems.
Once more, I explained to Sally that I might know a little about “not facing all my problems.” I told Sally about a couple investment properties destroyed by selfish people who moved out in the middle of the night.
…right in the middle of the real estate crash in Florida.
For months, I got hammered with the phone calls and knocks at the front door. I got to the point I didn’t even answer the door or phone. I knew who was knocking and calling.
…and I didn’t want to deal with it.
Suddenly, Sally took a deep breath, probably the first deep breath she had taken in months. It was then that she realized I wasn’t judging John and her and that I wanted to help them.
Click Read More below the rest of Sally & John’s attempt to save their home from foreclosure.
THE REAL SECRET IS….
The real secret is people helping people…for the sake of helping others.
My wife and I knew John and Sally’s pain. Though it wasn’t the home in which we live, we clearly realized the fear and uncertainty of foreclosure.
Nobody deserves such pain and uncertainty.
Before Sally and I hung up the phone, I requested Sally and John round up the following paperwork for the call they would get the next day from my friend, the mortgage professional:
- Information about the monthly gross (before tax) income of your household, including recent pay stubs if you receive them or documentation of income you receive from other sources.
- Your most recent income tax return.
- Information about your savings and other assets.
- Information about your first mortgage, such as your monthly mortgage statement.
- Information about any second mortgage or home equity line of credit on the house.
- Account balances and minimum monthly payments due on all of your credit cards.
- Account balances and monthly payments on all your other debts such as student loans and car loans.
- A letter describing any circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.) if applicable.
Source: MakingHomeAffordable.gov, the program’s official Web site.
Now for the part of the story you’ve anxiously awaited. Not every ending works out the way I hope and pray. I’ve not been able to help every family avoid foreclosure…and it’s damn painful when the bank takes the house back.
This time, there is a happy ending.
John and Sally grabbed every piece of paper we requested…and more.
And when my trusted mortgage buddy successfully saved John and Sally’s home from foreclosure, I heard the screams and shouts of joy all the way to Sarasota (from Orlando). 
It was what is called a “short refi” with the bank agreeing to “write-down” $89,000 and amortize the new loan (& payment) based on the new value. John & Sally originally owed $342,000.
Cutting off $89,000 for which John & Sally were NOT responsible (**with IRS exception**), their lender gave them a new fixed-rate loan for $253,000…and a monthly payment they could AFFORD.
An unexpected GIFT (and believe me, John & Sally could not believe it) was that the lender agreed to remove the LATES from John & Sally’s credit reports, allowing them to grab an insanely LOW interest rate.
I didn’t expect that gift….
Please do not allow your pride or fear to control your brain. Call or email me at Mike [at] fixmyuglycredit [dot] com (sorry for writing my email address this way but I hate spam too).
I will help you as much as I can.
Avoid foreclosure at all costs. P-L-E-A-S-E do not repeat John & Sally’s mistakes. The longer you delay to try to save your home OR avoid foreclosure, the more difficult it is to help you.
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