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# Intercepting and Preventing Foreclosure.

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Facts based solutions approach. Empower yourself to make informed decisions

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### Intercepting and Preventing Foreclosure.

1. 1. Part 1- Intercepting and Preventing Foreclosure A Facts Based Solution Approach In Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise re-examined in any Court of the United States, than according to the rules of the common law. - Amendment VII of the United States Constitution
2. 2. Deciphering Options Mortgage refinance, Second Mortgage or Equity Line of Credit Familiarize yourself with the 4 C's in Lending 1- Credit- Since the subprime collapse Banks have tightened their lending guidelines: 700 FICO = 20% down payment or 80% LTV 660 FICO = 40% down payment of 60% LTV 2- Capacity to repay the loan- In order to qualify for a mortgage for which the lender requires a debt-to-income ratio of 28/36: Max DTI should not exceed 45% example: Yearly Gross Income = \$45,000 / Divided by 12 = \$3,750 per month income. \$3,750 Monthly Income x .28 = \$1,050 allowed for housing expense. \$3,750 Monthly Income x .36 = \$1,350 allowed for housing expense plus recurring debt.
3. 3. 3- Collateral – Does your home have equity? How much are the recent comparable sales in your area? Loan To Value (LTV)is a mathematical calculation which expresses the amount of a first mortgage lien as a percentage of the total appraised value of real property. For instance, if a borrower wants \$130,000 to purchase a house worth \$150,000, the LTV ratio is \$130,000/\$150,000 or 87%. 4- Capital- is defined as wealth such as money or property accrued by an individual indicating the amount of money you have saved to cover the down payment or closing costs and includes: Checking and/or Savings Accounts, Insurance Policies, Gifts, IRA, 401k, stocks, proceeds for the sales of existing property, real or personal.
4. 4. Forbearance Agreement, Loan Modification Forbearance is an agreement between lender and you that reinstates the delinquent loan through the payment of a lump sum or scheduled payments over a period of time. Loan Modification is a change in any of the terms of the original note. This includes lowering the interest rate, re-amortizing the remaining balance, extending the term of the loan, or other options (at the lenders discretion) to assist you through a temporary setback. Ask yourself these questions: - How can you afford one more payment plan taking into consideration why you became delinquent to begin with? - Would this eliminate long term home loss? - Do I owe more than the house is worth?
5. 5. Sell Your Home, Short Sale, Deed in Lieu of Foreclosure Selling your home as option? Now this gets even better.... whose buying at a time right now? Only “Investors” with a ton of CASH are. For regular folks like you and me who depend on one or more of the following: a fixed income, retirement benefits, help from other sources, WOULD never have access to an abundant supply of Bank Repos, Auctions and other too good to be true home prices that could have been our home originated with a sustainable fully amortizing 30 or 40 year fixed rate mortgages. Deed in Lieu of foreclosure is a voluntary conveyance of title to the lender. In short, you lose your home. Giving up your home because of regular unforeseeable events ( Job loss, health issues, etc.) is one thing... ...being subject to Breach of Fiduciary Duty, Deceptive business practices and outright mortgage fraud is another.
6. 6. Revelation Using all the information you have acquired determine the following: Your TRUE Debt to Income and Loan To Value Ratios... ...then ask yourself this: Did I meet the minimum requirements for bank approval on my current mortgage?
7. 7. “Too often we excuse those who build their own lives from the shattered dreams of other human beings” - Sen. Robert F. Kennedy
8. 8. We Hold These Truths Be Self Evident 2008, Ontario, Ca. http://youtube.com/watch?v=jmeHiFZUWtE
9. 9. Loss Causation http://www.brillig.com/debt_clock/ U.S. NATIONAL DEBT CLOCK The Outstanding Public Debt as of 25 Jun 2008 at 09:27:49 PM GMT is: The estimated population of the United States is 304,241,474 so each citizen's share of this debt is \$30,832.81. The National Debt has continued to increase an average of \$1.38 billion per day since September 28, 2007! Concerned? Then tell Congress and the White House!
10. 10. For Victims of Fraud Waste and Abuse 2 Options that go hand in hand to STOP foreclosure. An arduous task which require you to learn and be prepared to help those in need. This will be your personal test of Faith. Faith in yourself, standing up for what is right, Faith in our Government enacted for the people and by the people and lastly Faith in God for giving you this opportunity of a lifetime to make a difference for your neighbor. 1- Holder In Due Course Doctrine http://www.businessweek.com/magazine/content/07_50/b4062028776327.htm?chan=magazine+channel_news DEMAND THIS: Show me the NOTE !!! The complexities of Mortgage Securitization cast a shadow of doubt on who has the legal right to Foreclose.