Rita And Team Help Homeowners

Half Of All US Homeowners Are Underwater On Their Mortgage

Tue, 22 Nov 2011 00:17:19 GMT

posted by rlegan under , For Sellers

If the U.S. foreclosure crisis were a baseball game, we’d probably be in the bottom of the fourth inning. That’s roughly the message from the latest data on home foreclosures and delinquencies released by an industry association Thursday.
The pace of new home foreclosures edged up again in the third quarter and the number of borrowers falling behind on their payments eased a bit, according to the Mortgage Bankers Association. The good news was that the rate of borrowers who have fallen three or more months behind on their payments has dropped to about 3.5 percent of all mortgages. That’s down from a peak of 5 percent in late 2009. But it’s still three and a half times the “normal” rate of about 1 percent that prevailed before the mortgage meltdown hit in late 2007. “If you look at the pace of improvement I think we’re three to four years away from the typical pattern of seriously delinquent loans,” said Michael Fratantoni, MBA’s vice president of research and economics.
Since the mortgage meltdown began in 2007, roughly six million homes have been lost to foreclosure. (Estimates vary somewhat because multiple foreclosures are often recorded on a given property as the homeowner and lender try to avoid it.) Another four million homes are estimated to be at some stage in the foreclosure process. New foreclosures are currently started at the rate of about two million a year.
That pace of new foreclosures may begin to ease more, though. The delinquency rate –- the number of borrowers who have fallen behind on their payments — fell in the third quarter to the lowest level in nearly three years. For all loans, the rate fell to 7.99 percent from 8.44 percent in the second quarter. That’s down from 9.13 percent a year ago and the lowest level since the fourth quarter of 2008. Borrowers with subprime adjustable mortgages saw the biggest jump in new foreclosures in the third quarter. Some 4.65 percent of those subprime loans entered the foreclosure pipeline. That’s up from 3.62 percent in the second quarter, a 28 percent increase. The MBA said the rise was due in part to an increase in the number of loans that failed to get lender approval for a modification. Some states also ended their moratoriums on foreclosures during the quarter. Overall, the pace of new foreclosures for all loans edged up to 1.08 percent in the third quarter from 0.96 percent in the prior three month period. That’s down from 1.34 percent in the same period a year ago. A lot depends on the outlook for the economy which, though showing gradual signs of improvement, is not creating jobs fast enough to put much of a dent in the unemployment rate, which is hovering at around 9 percent. The uptick in the pace of foreclosures comes as the U.S. homebuilding industry is beginning to show a pulse three years after nearly shutting down. Though still on track this year to set a record low since 1960, when data were first collected, single family housing starts were up 3.9 percent, and permits jumped 10.9 percent. (Many economists believe permits are a better barometer of housing market strength because they are less affected less by weather and signal a pickup in future construction.)
“This was a good report,” said Patrick Newport, an economist at IHS Global Insight. “It has supporting evidence that the single-family market is finally getting off the mat.”
Continued improvement in home sales and prices, though, will depend heavily on the volume of foreclosed homes coming back on the market. Thursday’s MBA data showed that lenders have barely made a dent in the overall backlog of foreclosed homes. Since it began rising in 2007, the foreclosure inventory rate -– the percentage of loans in foreclosure -– has remained stuck at roughly 4.5 percent. That’s four and a half times the “normal” rate of about 1 percent of all homes in the foreclosure pipeline.
Not all of those homes will eventually be seized. Some foreclosures can be “cured” with a loan modification or by a homeowner catching up on missed payments. But the remainder will sit on a lender’s books until they can find a new buyer, often at a “distressed” price. Each new home that enters the foreclosure pieline becomes part of that “shadow” inventory. “The large number of homes still in the shadow inventory will cast a cloud over the housing market and the wider economy for a few years yet,“ said Paul Dales, a senior economist at Capital Economics. Dales figures there were something like 4.2 million homes waiting to hit the market at the end of the third quarter. As they do, they’ll continue to depress home prices, which have begun falling again after stabilizing this summer. Falling prices put more borrowers at risk of foreclosing as they burn through the remaining equity in their home and end up “underwater,” owing more than their house is worth. Some 11 million homes, or about 22 percent of all mortgaged homes, are currently underwater. Another 2.4 million have less than 5 percent equity, according to CoreLogic. Underwater borrowers are more likely to enter a so-called “strategic” default by simply walking away from their home and no longer making mortgage payments. The rate of that default varies widely from state to state, based on both housing market conditions and state laws governing a lenders’ ability to collect the unpaid debt. Some “non-recourse” states protect homeowners from those collection efforts. As more homeowners fall underwater, strategic default has become a bigger headache for mortgage lenders. A recent study by the MBA’s Research Institute for Housing America found that strategic defaults tend to cluster around homes already in foreclosure as friends, family and neighbors exchange advice on whether to walk away. “It’s a concern because of the manner in which it’s become part of the public conversation,’ said Fratantoni. Estimates of the levels of strategic default are all but impossible to make, the study found, largely because it’s very difficult to determine whether a default was truly “voluntary.” But the study found that one of the most critical variables affecting the pace of such defaults was the length of time a given home was in the foreclosure process. The longer that process takes, the longer the idea of strategic default has to spread from one borrower to another. Today, foreclosures can take several years to play out in some parts of the country, up from historical levels of three to five months, according to the study. “This is disastrous for a housing sector trying to recover from a crisis,” the MBA researchers said.
Source: MSNBC.com

Presented by Rita Legan Realtor ASP, CDPE.
In my 25 years of second generation real estate consulting, my guiding principle is "your success is my #1 priority". My background in Corporate Relocation, Personal Real Estate Investing, New Construction, Marketing, Interior Design, Staging and Foreclosure Avoidence arm my client's for making smart and timely decisions. whether buying, selling, investing in real estate or understanding your options when facing foreclosure in the Greater Cleveland Ohio Suburbs. I have the skills and I am ready to help you now..
Call (440) 440-227-4461
or email rlegan@kw.com
or meet me on the web at
www.RitaLeganSells.com or www.StopForeclosureOH.com
18318 Pearl Rd
Strongsville, Oh 44136

Complete discreation assured.

Short Sale vs. Foreclosure: A Short Sale Always Wins

Tue, 04 Oct 2011 17:17:30 GMT

By Christopher Reale on October 4, 2011

1343Share

We are again honored to have Christopher Reale, Director of Short Sale Operations at Lepizzera and Laprocina Title and Escrow Services, as today’s guest blogger. He is an expert on the short sale process and will share his knowledge with us on a regular basis. – The KCM Crew

Today’s ever changing real estate industry has brought upon some very challenging questions from our clients. We as counselors, want to put forth the best, non-emotional advice that we can, in hopes that we can help our clients and their families navigate the rough waters of the short sale process.

The most prevalent question and one that continues to permeate the industry is:

“Why should a seller go through the short sale process rather than letting their house be foreclosed upon?”

While we cannot speak to every client circumstance, we can say one thing with complete conviction. In almost all instances in which a potential seller is contemplating whether they should short sell their house or let it go through the foreclosure process, a short sale is the better option. The following are examples to consider:

Example A- Short Sale

Mr. Smith owns a home in which he has a mortgage balance of $220,000 and a current market value of $150,000. Mr. Smith has elected to short sell his property. His Realtor successfully obtains a buyer who puts forth an offer price of $120,000 (80% current market value according to Realty Trac Foreclosure Report 5/26/2011). After reviewing the buyers offer and the financial hardship information from Mr. Smith, Mr Smith’s bank agrees to accept the short payoff of $120,000 which would leave a deficiency balance of $100,000.

The transaction closes and is final. Mr. Smith then pulls his credit report 30 days after the transaction takes place. On the report he notices that the mortgage trade line states “Mortgage debt was settled for less than full” and the balance on the mortgage is $0. Mr. Smith is now on the road to financial recovery.

Example B- Foreclosure

For the ease of illustration we will use the same value and mortgage debt amounts as in Example A. However, Mr. Smith has elected to forgo the short sale process and let the bank foreclose on the property. The bank holding his mortgage facilitates the proper legal procedures to foreclose on the property, all of which are costly. Mr. Smith is notified and his property foreclosed upon of which is taken back by the bank to sell as an REO.

Six months later, the bank finally sells Mr. Smith’s home only they sell it for $90,000 (60% of current market value according to Realty Trac Foreclosure report dated 5/26/2011). Remember, as a short sale, the home would have sold for $120,000 keeping the deficiency to $100,000. In addition to the deficiency now being $130,000, the bank has elected to add on legal costs of $15,000 and asset preservation costs of another $5000 for a total deficiency liability of $150,000. Mr. Smith pulls his credit report 30 days after being notified that the bank has sold his property and of his liability.

On the report he notices that the mortgage trade line states “Foreclosure” and the balance is $150,000. Because of Mr Smith’s choice to choose foreclosure vs. short sale his road to financial recovery has taken a major detour. He not only has a foreclosure on his credit report but now has a much larger deficiency balance in which the bank, in most cases, will report on his credit report as a balance owed.

The Best Option is Clear

While the financial and credit advantages are clear when choosing a short sale over a foreclosure, other advantages are sometimes overlooked. The most important of all of them is maintaining the seller’s dignity and peace of mind. We have heard too many stories of families having to leave their homes because of a Sheriff’s order or some other type of legal action. The short sale process alleviates this negative social impact. The process puts the control back in the seller’s hands so that they can get back on the road to financial recovery and start providing for their families. In the battle of the two evils, a short sale always wins!!!

resented by Rita Legan Realtor ASP, CDPE.
In my 25 years of second generation real estate consulting, my guiding principle is "your success is my #1 priority". My background in Corporate Relocation, Personal Real Estate Investing, New Construction, Marketing, Interior Design, Staging and Foreclosure Avoidence arm my client's for making smart and timely decisions. whether buying, selling, investing in real estate or understanding your options when facing foreclosure in the Greater Cleveland Ohio Suburbs. I have the skills and I am ready to help you now..
Call (440) 440-227-4461
or email rlegan@kw.com
or meet me on the web at
www.RitaLeganSells.com or www.StopForeclosureOH.com
18318 Pearl Rd
Strongsville, Oh 44136
Complete discreation assured.

Renewed Trust For Tough Times

Sat, 17 Sep 2011 12:34:35 GMT

Renewed Trust For Tough Times

Does it feel like trust is one of the major casualties of the economic meltdown of 2008 – followed by the “Great Recession,” the “Jobless Recovery” and now the threat of a “Double Dip Recession?”

Weren’t we assured that home values were destined to go up and up and up?

There have been lots of promises that help is on the way—and lots of warnings of scams and schemes that have only served to confuse the matter. So where’s a homeowner who’s underwater or overleveraged to turn?

Here’s the bottom line: the choices that homeowners make when they feel they are at the end of their rope will have ramifications for years to come on their ability to qualify for credit, their job prospects, their security clearance and their overall finances. When a family’s financial trajectory is rapidly heading in a negative direction, there’s no substitute for the helping hand of a knowledgeable expert who has the integrity, the experience and the training to reverse the course—someone who is tapped into regulatory initiatives and can separate fact from fiction.

It is my mission to serve as a credible source of information and perspective to homeowners who have found themselves in a tough situation and need help sorting through their options. That’s why I sought out the Certified Distressed Property (CDPE) designation—the most renowned and recognized credential in the distressed property field, and it’s why I continue to stay on top of regulatory and industry developments that impact options available to homeowners who are struggling with their current financial situations.

My message to homeowners who do not know where to turn: there is hope. Foreclosure is not inevitable and neither the government nor your bank wants to see that happen. No one expected to find themselves on the brink of foreclosure, but I have worked with countless clients who have managed to turn their financial trajectory around and get on a path of financial recovery.

It CAN be done! And it would be my privilege to help.

Complete discreation assured.

Short Sales Soar 19 Percent in Second Quarter

Sat, 27 Aug 2011 15:51:53 GMT

Short sales of pre-foreclosure properties jumped 19 percent in the second quarter, even as sales of bank-owned foreclosures declined and overall distressed sales were flat.

A total of 102,407 pre-foreclosure homes—in default or scheduled for auction—sold to third parties in the second quarter, an increase of 19 percent from the previous quarter but still down 12 percent from the second quarter of 2010. Pre-foreclosure sales accounted for 12 percent of all sales, the same percentage as in the first quarter but up from 10 percent of all sales in the second quarter of 2010, according to the second quarter report from RealtyTrac.

Pre-foreclosures, which are often sold via short sale, had an average sales price nationwide of $192,129, a discount of 21 percent below the average sales price of non-foreclosure homes. That discount increased from a 17 percent discount in the previous quarter and a 14 percent discount in the second quarter of 2010. Pre-foreclosures sold in the second quarter took an average of 245 days to sell after receiving the initial foreclosure notice, down from an average of 256 days in the first quarter—following three straight quarters of increases in the average time to sell pre-foreclosures.

Some of the states with the biggest quarterly increases in pre-foreclosure home sales included Nevada with a 43 percent increase, Washington with a 39 percent increase, California with a 38 percent increase, and Texas with a 34 percent increase.

A total of 162,680 bank-owned (REO) homes sold to third parties in the second quarter, virtually unchanged from the 162,900 in the first quarter and down 10 percent from the second quarter of 2010. REO sales accounted for 19 percent of all sales in the second quarter, down from 23 percent of all sales in the first quarter but up from 15 percent of all sales in the second quarter of 2010.

Sales of homes that were in some stage of foreclosure or bank owned accounted for 31 percent of all U.S. residential sales in the second quarter of 2011, down from nearly 36 percent of all sales in the first quarter but up from 24 percent of all sales in the second quarter of 2010.

Despite the increase in share of total sales from a year ago, sales of real estate in some stage of foreclosure (NOD, LIS, NTS, NFS) or bank-owned (REO) decreased from a year ago in terms of raw numbers. Third parties purchased a total of 265,087 homes in foreclosure or bank owned nationwide in the second quarter, up 6 percent from a revised first quarter total but still down 11 percent from the second quarter of 2010.

The average sales price of homes in foreclosure or bank owned was $164,217 in the second quarter, down less than 1 percent from the first quarter and down nearly 5 percent from the second quarter of 2010. The average sales price for homes in foreclosure or bank owned was 32 percent below the average sales price of homes not in foreclosure.

Nationally, REOs had an average sales price of $145,211, a discount of nearly 40 percent below the average sales price of non-foreclosure homes. This is an increase from a 36 percent discount in the previous quarter and a 34 percent discount in the second quarter of 2010. REOs that sold in the second quarter took an average of 178 days to sell after being foreclosed on, up from 176 days in the first quarter and up from 164 days in the second quarter of 2010.

Foreclosure-related sales accounted for 65 percent of all residential sales in Nevada during the second quarter, the highest percentage of any state. Third parties purchased a total of 15,685 homes in foreclosure or bank owned in Nevada during the second quarter, up 24 percent from the first quarter and up 31 percent from the second quarter of 2010.

Arizona foreclosure-related sales also increased on a quarterly and annual basis, accounting for 57 percent of all sales in the state during the second quarter—the second highest percentage of any state.

Third parties purchased a total of 69,897 homes in foreclosure or bank owned in California during the second quarter, 51 percent of all sales in the state. Foreclosure-related sales in California increased 12 percent from the first quarter but were virtually unchanged from the second quarter of 2010.

Michigan foreclosure-related sales accounted for 41 percent of all sales in the state during the second quarter, the fourth highest percentage among the states, and Georgia foreclosure-related sales accounted for 38 percent of all sales in the state during the second quarter, the fifth highest percentage.

Other states where foreclosure-related sales accounted for at least 30 percent of all sales were Colorado (36 percent), Florida (35 percent), Illinois (34 percent), Oregon (33 percent), and Idaho (30 percent).
By Steve Cook via Ris Media

Presented by Rita Legan Realtor ASP, CDPE.
In my 25 years of second generation real estate consulting, my guiding principle is "your success is my #1 priority". My background in Corporate Relocation, Personal Real Estate Investing, New Construction, Marketing, Interior Design, Staging and Foreclosure Avoidence arm my client's for making smart and timely decisions. whether buying, selling, investing in real estate or understanding your options when facing foreclosure in the Greater Cleveland Ohio Suburbs. I have the skills and I am ready to help you now..
Call (440) 440-227-4461
or email rlegan@kw.com
or meet me on the web at
www.RitaLeganSells.com or www.StopForeclosureOH.com
18318 Pearl Rd
Strongsville, Oh 44136

Complete discreation assured.

Handling the Stress of an Unaffordable Mortgage Payment

Thu, 11 Aug 2011 13:12:30 GMT

Whenever I research the latest foreclosure and distressed property statistics, the sheer number of Americans facing the stress of losing their homes amazes me. It is my goal to help as many homeowners I can either stay in their homes or relieve the burden of their mortgages. Knowing that there are so many that need my help is a driving force for me to continue doing what I do.

In fact, I just released another report that I’ve made available on my website: www.stopforeclosureoh.com today. It explains the CDPE designation and lists 10 options that homeowners can take advantage of to relieve the stress that comes with owing their mortgage lenders more money than they can afford to pay.

The report also draws a contrast between short sales and foreclosures. Unfortunately, there’s a growing trend of “strategic defaulters” who think it’s smart to let their home go into foreclosure. As any one who follows this blog knows, there is nothing strategic about foreclosure; it’s one of the most long-lasting, negative financial challenges you can go through.

I’m excited about acting as a resource for more homeowners who have questions about what they should do. As always, if you know homeowners who may need my help, have them contact me immediately! Together, we can put them back on the path to financial stability.

Complete discreation assured.

Missing Mortgage Payments?

Tue, 05 Jul 2011 12:22:42 GMT

Do You Know Someone Who Is Missing Mortgage Payments?

According to Lender Processing Services (LPS), over 6.32 million homeowners missed their mortgage payments in April 2011. Another four million have missed more than three months of payments and are now considered seriously delinquent. If you or someone you care about is having difficulty making mortgage payments in Cleveland, Oh or suburbs, it's not too late to get help.

I have developed a report filled with information that every Ohio homeowner should know. It's a guide on how to avoid foreclosure and how I can help work with lenders to resolve an unaffordable mortgage. You can download the report at the following website:

http://www.stopforeclosureoh.com/

There is financial stability on the horizon—I can help put an overwhelmed homeowner on the path to get there. If you or someone you care about needs help, I'm only a phone call away.

Sincerely,
Rita Legan
Keller Williams Realty Greater Cleveland Southwest
(440) 227-4461

Information deemed reliable but is not guaranteed.
Keller Williams Realty Greater Cleveland Southwest. Each office independently owned and operated.

Federal Trade Commission Disclosures

1. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services.

2. The above brokerage is not associated with the government, and our service is not approved by the government, and our service is not approved by the government or your lender.

3. Even if you accept this offer and use our service, your lender may not agree to change your loan.

Presented by Rita Legan Realtor ASP, CDPE.
In my 25 years of second generation real estate consulting, my guiding principle is "your success is my #1 priority". My background in Corporate Relocation, Personal Real Estate Investing, New Construction, Marketing, Interior Design, Staging and Foreclosure Avoidence arm my client's for making smart and timely decisions. whether buying, selling, investing in real estate or understanding your options when facing foreclosure in the Greater Cleveland Ohio Suburbs. I have the skills and am ready to help you now.
Call (440) 440-227-4461
or email rlegan@kw.com
or meet me on the web at
www.RitaLeganSells.com or www.StopForeclosureOH.com

Complete discreation assured.

Stages Of A Short Sale

Mon, 04 Jul 2011 17:31:34 GMT

The Stages of a Short Sale…

1. The first stage requires the home owner to gather all the documentation
that your bank will require. This stage shouldn t take longer than a few days.
Please review the section on short sale paperwork for the required documentation. Some banks require that their unique forms be used as well.

2. Once you have all your paperwork completed, stage two is simply contacting us to schedule an appointment to see your home, complete the listing and place your home for sale.

3. The third stage involves aggressively marketing your home and producing a ready, willing, and able buyer. This stage can take as little as a few days or as long as a few months. We will closely track the activity of your sale and make the necessary pricing adjustments to attract a buyer.

4. The fourth stage is the actual presentation of the offer to your bank. This is where our expertise and experience in negotiating Short Sales takes place. The negotiation and approval process can take anywhere from 30 to 120 days. Numerous phone calls, emails, and faxes are required between the lenders and our team (on average 60-90). If we are dealing with a single lender rather than multiple lenders, it is easier (although not necessarily faster) to obtain the approval.

5. The fifth and last stage to the Short Sale process is the period of time between Short Sale approval from the bank and the buyer closing on the home. Although the Short Sale addendum states the close will occur 30 days after bank approval, be aware that the banks typically push for a 2-3 week close. When possible we encourage all parties to accommodate the bank on this issue.

Presented by Rita Legan Realtor ASP, CDPE.
In my 25 of second generation real estate consulting, my guiding principle is "your success is my #1 priority". My background in Corporate Relocation, Personal Real Estate Investing, New Construction, Marketing, Interior Design, Staging and Foreclosure Avoidence arm my client's for making smart and timely decisions. whether buying, selling, investing in real estate or understanding your options when facing foreclosure in the Greater Cleveland Ohio Southwest Suburbs. I have the skills and am ready to help you now.
Call Now (440) 440-227-4461
or email rlegan@kw.com
or meet me on the web at
www.RitaLeganSells.com or www.StopForeclosureOH.com

Complete discreation assured.

Stop Sherrif's Sale In Cleveland, Oh And Suburbs

Tue, 21 Jun 2011 20:21:16 GMT

Presented by Rita Legan Realtor ASP, CDPE.
In my 25 years of second generation real estate consulting, my guiding principle is "your success is my #1 priority". My background in Corporate Relocation, Personal Real Estate Investing, New Construction, Marketing, Interior Design, Staging and Foreclosure Avoidence arm my client's for making smart and timely decisions. whether buying, selling, investing in real estate or understanding your options when facing foreclosure in the Greater Cleveland Ohio Suburbs. I have the skills and am ready to help you now.
Call Now (440) 440-227-4461
or email rlegan@kw.com
or meet me on the web at
www.RitaLeganSells.com or www.StopForeclosureOH.com

Complete discreation assured.

Stop Foreclosure Ohio-Homeowner Help In Cleveland Suburbs, Cuyahoga County, Lorain County, Medina County And Summit County OH

Sun, 07 Mar 2010 12:59:57 GMT

Presented by Rita Legan Realtor ASP, CDPE.
In my Twentyfour years of second generation real estate consulting, my guiding principle is
"your success is my #1 priority". My background in Corporate Relocation, Personal Real Estate Investing, New Construction, Marketing, Interior Design, Staging and Foreclosure Avoidance arm my client's for making smart and timely decisions. whether buying, selling, investing in real estate or understanding your options when facing foreclosure in the Greater Cleveland Ohio Suburbs. I have the skills and am ready to help you now.
Call Now (440) 440-227-4461
or email rlegan@kw.com
or meet me on the web at
www.RitaLeganSells.com or www.StopForeclosureOH.com
Currently serving Cuyahoga, Lorain Medina and Summit Counties of OH

We Respect Your Privacy.
We recognize the importance of protecting the privacy of information collected about our customers and prospective customers. This privacy statement discloses what information is gathered, how it is used, and how to correct or change it. It is our intention to give you an understanding about how we collect your Information and the use we make of it in the course of our business.

The information provided by users of this site or emailed to this office is collected for the purpose of better serving the user's real estate needs.

The user can request, by email or phone, that our office alter their information.

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Appropriate security measures are in place in our physical facilities to protect against the loss, misuse or alteration of information that we have collected from you at our site. Your information remains confidential and is not sold or given to any third parties.

Sincerely,

Realtor ASP CDPE

Understanding HAFA

New Help Has Arrived!

The rising number of foreclosures in this country is simply too big to ignore. That is why a government-backed program has been released that aims at streamlining foreclosure avoidance options.

Short sales and deeds-in-lieu are dignified solutions to foreclosure, and now the government is making them easier, quicker and more accessible through the Home Affordable Foreclosure Alternatives Program, or HAFA.

With one in six homeowners struggling to make mortgage payments, you are not alone, and there are options available. With the free report provided here, find out if you qualify for the HAFA Program. Simply fill out your information below to get started on your new chapter of financial stability.

Please read this report to learn the facts, and contact me to begin your journey to a solid, stable tomorrow.

Your First Steps To Avoid Foreclosure

Your First Steps

In today’s market, 1 in 7 homeowners is having trouble paying the mortgage. More than 70% of these homeowners proceed without seeking assistance or getting the facts. Many do not even realize that foreclosure is a process, and that there is time to make decisions that may result in a better outcome.

You are not alone. Millions of other homeowners nationwide are in the same circumstances. To assist you, I’ve prepared a free report outlining the first steps a homeowner should take when facing a foreclosure.

Fill out your information below for this free report. Don’t hesitate. Get back on track today!

Strategic Defaults are NOT Strategic

Walking Away Is NOT The Answer

You may have heard that a “strategic default” can be an appropriate and even beneficial reaction to an upside-down mortgage or impending foreclosure. While this idea is widespread, the truth is that default is never an easy road to choose, and rarely ever strategic.

Unfortunately, the ramifications of a “strategic default” are rarely explained, leaving many homeowners stranded on an island of misinformation. To assist you, I’ve prepared a free report outlining the myths and misrepresentations of strategic defaults.

Fill out your information below for this free report. Don’t hesitate. Get the facts today!

Feeling Trapped by Your Mortgage?

Feeling trapped by your mortgage?

Education is the Key

If you or someone you know feels like a prisoner to unaffordable mortgage payments, you should know that education may be the key to financial freedom. You have options available that can help ease the worry of making payments or losing your home to foreclosure.

To find out more about the options you have to choose from, download the free report I've created at the bottom of this page.

In fact, this entire website has been created exclusively for homeowners like you who need a trusted source for viable solutions to foreclosure.

If you have questions about the information you find here, or would like to get started in creating a plan, call me today.

The more proactive we are, the better chance you'll have in finding financial freedom and stability.

Is Your Mortgage Payment Dragging You Down?

One in seven mortgages in this country is headed toward foreclosure.

If you or someone you care about is feeling burdened by a mortgage that is unaffordable, I can help.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, it is my mission to help homeowners avoid the financial devastation of foreclosing on their home. In the process, I help them move forward on a positive path. If you'd like to learn more, I invite you to access my free report: Is Your Mortgage Payment Dragging You Down?

As my report points out, there are currently 6.5 million mortgages in the country that are delinquent or in foreclosure. Stemming the tide of foreclosures has become a national priority because a foreclosure is nothing short of a disaster for all concerned – families, communities, the real estate market and the national economy as a whole.

As a CDPE, I am tapped into the most up-to-date solutions for financially distressed homeowners, and am distinctly qualified to work with you to determine your best possible option.

Contact me today and let's get started!

Avoiding Mortgage Modification Fraud

I Am An Agent Against Mortgage Fraud!

The last thing struggling homeowners need is to be victimized by fraud. Sadly, some people are preying on those who need help the most. Today, the real estate industry is the newest, biggest target for predatory schemes. In fact, the U.S. Attorney General, Eric Holder, stated that mortgage fraud cases are 400 percent higher than they were five years ago.

With nearly 1 in 6 homeowners unable to pay their mortgages, understand that you are not alone. Knowing your legitimate foreclosure-avoidance options is the best way to fight this terrible trend.

The report on this site will tell you how to avoid mortgage fraud schemes, as well as what solutions are available to you. Enter your information below and get the facts now!

Short Sale & Deed-In-Lieu

Contrary to what you may have heard, lenders actually want to avoid foreclosure wherever possible. That’s why they’re accepting more short sale and deed-in-lieu transactions everyday in an effort to eliminate unnecessary foreclosures. This is great news for homeowners facing financial distress.

To help you understand more about these two options, I’ve prepared a free report just for you, called ‘Short Sale & Deed-in-Lieu: Dignified Solutions.’ To receive your free report, please provide your information in the fields below.

I hope you’ll review these options carefully and pass this information along to those who may need it. I commend your efforts to finding a solution to the difficult financial situation that you or someone you know is currently facing. Providing the best advice and information in your time of need is my priority.

Let me help you evaluate your options and get you back on track to a secure financial future.

7 Short Sale Myths

There are millions of homeowners just like you who are looking for answers and don’t know what to do. You’re not alone and you’re in the right place.

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Despite my best efforts, there’s still an overwhelming amount of misinformation about the options available, especially short sales.

To give you a better idea of the short sale option, and to set straight some of the myths you may have heard, I’ve prepared a free report just for you - please fill out the information below to receive your free report. This report will clarify the following myths:

The Bank Would Rather Foreclose Than Bother With A Short Sale
You Must Be Behind On Your Mortgage To Negotiate A Short Sale
There Is Not Enough Time To Negotiate A Short Sale Before My Foreclosure
Listing My Home As A Short Sale Is An Embarrassment
Short Sales Are Impossible And Never Get Approved
Banks Are Waiting On A Bailout And Not Accepting Short Sales
Buyers Are Not Interested In Short Sale Properties

These ideas are potentially harmful to homeowners seeking real solutions. I hope you’ll review this information for yourself or share it with a homeowner in need.

In these times, we all need to know the truth to know how to get back on track.

If you have any additional concerns about this issue, or your circumstances are urgent, please give me a call.

Rita Legan
(440) 227-4461

The Truth About Mortgage Modifications

The decisions you make as a homeowner today hold a profound impact on your financial future. However, it is important to safeguard yourself from misinformation and fraud. Get the facts regarding your situation and always have a contingency plan.

For those who qualify, a mortgage modification is the ideal remedy to their financial distress. I’ve prepared a FREE report on the truth about mortgage modifications to guide you through this important process. Simply provide your information below to get this valuable information, and feel free to pass it along to anyone who may need it. One homeowner lost to foreclosure is one too many!

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Together, we can formulate a plan to get back on track.

If you have any unanswered questions, or your circumstances are urgent, please call me today.

Rita Legan
(440) 227-4461

Options and Solutions

Thank you for visiting this site and taking the first step toward finding answers. I appreciate what it has taken for you to come here, and commend your efforts to get the facts about your situation. The current real estate environment can be frustrating, with misinformation and conflicting plans for how to proceed.

As a real estate agent, what I often see in troubled homeowners is a belief that they are alone with their challenges. Regrettably, over 70% of homeowners in foreclosure proceed without ANY visible assistance. This is not acceptable for the communities I serve.

That's why I've developed this site: to ensure you get the valuable resources that can reduce your financial strain and change your life for the better. As a CDPE I know the options for homeowners in foreclosure or delinquent on their mortgages, and I can send you a report detailing this information, prepared just for you.

Simply enter your information below and click "Send." I hope that you will review this information carefully, so that your next steps are the right steps toward a real solution.

Let me help you evaluate your options and get back on track to a solid, stable future.

Foreclosure Vs. Short Sale

As a Certified Distressed Property Expert, I have devoted my career to helping homeowners who face difficult situations, taking them from uncertainty to resolution. Lately I've found a lot of conflicting information going around, especially concerning short sales, which you should know about.

A short sale occurs when a lender accepts the selling price of a home, even if it is less than the full amount owed on the mortgage. For particular homeowners, this can be the best option to foreclosure. Yet, I still hear people suggest that short sales are basically the same as foreclosure.

This is absolutely wrong!

You need to have the CORRECT information. That’s why I'm glad you're here. To help, I’ve prepared a free report—just for you—that compares the realities of foreclosures and short sales side-by-side. Simply provide your information below, and I'll send you this report.

If you have any additional concerns about this issue, or your circumstances are urgent, please feel free to give me a call. I can help you evaluate your options and get you back on track to a secure financial future.

Rita Legan (440) 227-4461

Make Financial Stability Your Resolution

Foreclosure Stress Never Goes on Holiday

If a foreclosure is threatening your happy holiday, you should know you're not alone. Millions of Americans are in the same situation, and it is my goal to help ease the stress that comes with the threat of foreclosure for as many as I can reach.

As a CDPE-designated agent, I help struggling homeowners navigate the various options they have to avoid foreclosure. One possible option is a mortgage modification, which makes monthly payments more affordable.

For more information regarding this and other solutions, please download the free report located on this site.

If you need immediate assistance, please feel free to contact me throughout the holiday. I'm here to help. Make financial stability your resolution for the New Year!

Need a Helping Hand?

Compassion and connections to untangle your complicated mortgage challenges

If you or someone you care about is falling behind on your mortgage and owes more on your home than it is worth in today's market, you are not alone.

In fact, 6.3 million homeowners are in some stage of foreclosure right now.

As my recent report points out, there are currently 10.9 million homeowners in the United States who owe more on their mortgage than their home is worth in today's market.

Far too often, homeowners in this situation feel that they have no other choice but to let their home fall into foreclosure.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am tapped into the best solutions for helping financially distressed homeowners to make a fresh start. If you'd like to learn more, I invite you to access my free report: "Need a Helping Hand? If the market and your mortgage have tossed you a curve, you are not alone."

Contact me today and let's get started!

Government Program Surveys

Are You Eligible?

The government programs currently available to homeowners can be valuable resources, but only if you know which ones are right for your situation.

That’s why I’ve created this free resource that lets you find out which programs you’re eligible for. Read the descriptions for each program to see which one fits your situation, then fill out the corresponding survey to see if you are eligible.

Find out now if you are eligible!

The good news is that programs exist for a variety of situations, and even more options are available beyond those programs. As a CDPE-designated agent, I can provide all of your possibilities and help you get moving toward a solution.

Change the Course!

You Can Change the Course!

If you feel like shifting economic winds have not been in your favor lately, you are in good company. More than 6 million homeowners nationwide are in some stage of foreclosure.

If this is the case with you or someone you care about, you are all too aware of the stress and uncertainty that accompanies notices of default, unwanted phone calls and offers of help that turn out to be no help at all.

The fact is, the last thing your bank wants is to foreclose on your home. Banks are willing to negotiate, and you need someone on your side who is adept at negotiating with banks.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am tapped into the best solutions for helping financially distressed homeowners to make a fresh start. If you'd like to learn more, I invite you to access my free report: "Change the Course! And Navigate Away from an Unmanageable Mortgage."

Contact me today and let's get started!

Are You Living Under the Cloud of an Unmanageable Mortgage

An Unmanageable Mortgage Clouds Everything

When families are tapped out financially and faced with the uncertainty of not knowing how much longer they'll be able to stay in their home, the prospect of planning or having a positive outlook on the future seems out of the question.

Many financially strapped homeowners feel frozen in action and it's no wonder, but here's the most important point that you need to know:

Even though millions of homes have been lost to foreclosure, you and those you care about absolutely do not need to add to that statistic.

More help is available now than ever before.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am adept at navigating among the full range of solutions for helping financially distressed homeowners to make a fresh start.

If you, or someone you care about is looking to get out from under the cloud of unmanageable mortgage contact me today for a confidential consultation!