Florida Loan Modification & Florida Bankruptcy

One of the biggest Myths out there is that Florida Bankruptcy Stops Foreclosure. It doesn’t, it only temporarily delays it. The only way to stop a Florida foreclosure is to pay the loan off, which would be through selling the home or refinancing, or getting a loan modification. So the first course of action that most Florida home owners take is run to a Florida Bankruptcy Attorney to File Bankruptcy to save their home from foreclosure. And as expected, most of these attorneys will simply put these home owners into bankruptcy without explaining all their options in full. For some, bankruptcy is a good option, but it’s not for everyone. A good Florida bankruptcy attorney who meets with a client that wants to save their home, will tell them to apply for a Florida Loan Modification first and then consider a Florida Bankruptcy After.

The reason for this is, if a Florida home owners files for a Florida bankruptcy, then it limits them to only specific Florida Loan Modification programs and when a home owner is facing foreclosure they need as many options available to them as possible. As its not a one size fits all solution.

It wasn’t until a few months ago that there are now Florida Loan Modification programs for home owners that have filed Florida bankruptcy. Florida Bankruptcy should always be left as a last resort option.

Statistic show that 66-75% of home owners that file a Florida Chapter 13 Bankruptcy cannot complete the plan, so they end up back into Florida foreclosure without the Florida Bankruptcy protection and now they have a black mark on their credit report and are back at square one. The Florida foreclosure will also continue where the lender left off and put the home owner in a position where they will just want to give up and walk away.

Some Florida Bankruptcy Attorney’s would rather have their clients file a Florida Chapter 13 Bankruptcy because they make more money this way, as the plan goes on for 3-5 years and when compared to a Florida Chapter 7 Bankruptcy, that is more of a one time payment to the Florida Bankruptcy Attorney. In most cases the people that benefit from a Florida Chapter 13 Bankruptcy is the Attorney and the Trustee.

Florida Loan Modifications And Why They Get Denied.....

One of the most common questions that I get about Florida loan modifications is how to qualify for one.....
The number one reason Florida home owners don't qualify for a Florida Loan Modification, is because of insufficient income. But many home owners aren't aware that they can use other sources of income to show the lender you have enough income to qualify for a Florida Loan Modification.

Did you know that people who aren't on your loan can contribute income to show the lender. For instance,you may be on the loan, and your husband is not. You can still count your husband's income and show the lender the combined incomes to qulaify for a Florida Loan Modification.

If you rent out that extra bedroom in your house, you can use that as additional income. You just need to get the tenant to sign a lease stating what rent he or she pays, and now you have additional income to show your lender. Now, as to what your lender considers sufficient income or not sufficient income, that is constantly changing on what almost seems on a daily basis.

Some lenders sometimes use a debt to income ratio to determine if you qualify for a Florida Loan Modification. Somethimes abbreviated as DTI. DTI *was*used almost 100% by lenders but now there are different tests. DTI consists of the total of all your monthly bills including cards, department store charges, car payments, and your mortgage, plus property tax and insurance and homeowner's association if you have one. You divide that into your total income.

If you have any friends or family that could use this information, please send them this information it could make a world of difference if they are experiencing mortgage problems.

If you have any questions about your particular situation feel free to email me at marlonbaugh@specializedfinancialsolutions.com or call 954-678-5796.

Loan modifications do not have costly closing costs,title/government fees and painful points/broker fees.

Most importantly however modifications do not havepre-set credit requirements, that means no minimum credit scores,late payments, even being in foreclosure is O.K.

No LTV restrictions that limit refinancing options for most homeowners in today’s market. That means if you owe more thanyour home is worth, you can still qualify for a loan modification.

The lenders are more so concerned with 2 factors.
Current hardship and you ability to pay back the loan.

If you would like to discuss your situation in detail, send me an email at marlonbaugh@specializedfinancialsolutions.com or call me at 954-678-5796

Florida Based Loan Modification Expert, Marlon Baugh, spills the beans about Shopping Online For A Florida Loan Modification Company, that most Loan Modification Companies Hope You Never Find Out.

Anyone who’s even remotely interested in shopping for a Florida Loan modificaiton has probably paid attention to all those commercials on TV touting the ease of using any of a variety of Internet services to compare Florida Loan Modification offers from the comfort of your home.

You may even have tried a couple of them yourself. But Marlon Baugh, a Local Florida Loan Modification Expert says, Florida residents need to watch out when trying to use the Internet to do the heavy lifting for them. “Sometimes, these Internet services might work fairly well for certain people.” “But the one-size-fits-all approach they offer is going to leave a lot of people with loans that aren’t the best for them, or even worse, they may be shut out of the process altogether.” Marlon Baugh says the problem with these services is that they never really get to know anything about your financial situation other than your credit history and income level. “So basically what winds up happening is that you’re reduced to a number to them. And if they don’t like whatever that number is, you’re out of luck.”

Here are three things you should watch out for when shopping for Florida Loan Modification Company on the Internet – things most online loan modification sites hope you ignore:

*Do they take the time to find out about your unique situation, or are you just a cyber-borrower in their eyes? Most of these sites simply don’t have the manpower to individually work with every borrower. So a lot of times you wind up with a bad Florida Loan Modification simply because there was no one to check if they could have gotten you a better deal.

*What do they offer people in special financial circumstances – such as the self-employed or people with damaged credit? Most of these sites don’t even want to work with you unless you meet their stringent criteria.

*Do they provide advice to help when choosing between Florida Loan Modification products? Most sites simply gather offers, throw them in your lap, and pressure you to choose between them. Unless you’re a pretty experienced mortgage pro, deciding on the best offer can be difficult, if not impossible. If you have ever filled out a form on one of these sites or have called them, then you will notice that all of a sudden you are getting multiple calls from loan modification companies all over the U.S. This is because most of the websites you find on the internet are just lead generating sites that takes your infomation and sells it to each and every loan modification company from New York to California. You need to able to spot them.

And one way to do that is to find out where they are located as most don't have their address listed on their website, just a toll free number. So no address typically means they aren't local and even if they were and didn't list their address, then thats a red flag not to do business with them as they are probably con artist, that want to steal your money. So, what’s the solution? Use the Internet to educate yourself and then work with a real human being. You may not have thought about “old-fashioned” methods of finding the best deal, such as working with a local Florida Loan Modification Expert. “But for anyone who values a real person sitting down with you and working through the process, there’s no better option,” says Baugh.

Florida - based mortgage expert Marlon Baugh specializes in providing information to Florida residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan. Marlon Baugh is available for interviews and will welcome all your mortgage modification related questions. Call 954-678-5796 Ext.1 for a Free No-Obligation Consultation or visit: http://www.specializedfinancialsolutions.com

How To Avoid A Florida Loan Modification Scam

With the rise of homes that are going into foreclosure into today’s real estate market, more and more scam artist are preying on uneducated Florida home owners with empty promises to save their homes from foreclosure. Most information nowadays are accessible by lead companies, so when you are late on your mortgage payment, your lender reports your late payments to the credit bureau’s and they turn around and sell that information to companies such as Florida Foreclosure Rescue Firms and once the foreclosure process starts then this information becomes public record which is free information for these con artist.

"These Florida Foreclosure Rescue Firms prey on individuals in foreclosure as they know they are very vulnerable. So they compile a list and then start contacting home owners the following ways: Door knocking and approach Florida home owners in person, send letters or post cards via mail, email and some even hire telemarketers in India to contact home owners via phone.

Usually they will use sales teams that can sell ice to an Eskimo and will tell the home owner just what they want to hear, whether it’s true or false, says Marlon Baugh, Florida based loan modification expert.

Here is a list of some of the more common scam type Schemes:

- Lease-To-Own – They will ask you to sign over your title to their company and in return they will catch up the mortgage payments or refinance the property with better financing terms, which will allow the home owner to stay in the home as a renter and they will give you the option to buy back the property normally in a 1 – 2 year period. The intentions of most of these companies are just to get your home, as they know you wont be able to afford the new payments as they are normally higher than you were paying before, or they know you wont be able to qualify for financing within a year or 2.

- Bankruptcy – It’s important to understand that bankruptcy does not stop foreclosure, it only temporarily delays it. Over 66% of people that file bankruptcy don’t complete the plan, which places them back into foreclosure. Not to mention that bankruptcy will negatively impact your credit from years to come. - Government Imposter Programs – There are a lot of companies that market themselves to appear as government affiliates and may use similar names that sound like actual government agencies. If you do qualify for a government program you lender will know, so contact them. It’s important to understand that your mortgage lender has many options available to help you avoid Florida foreclosure.

A lot of Florida home owners stop communication with there lender once they start falling behind to avoid the collection calls and never get to find out about the options that are available to them to save their home. If you are going to hire a Florida Loan Modification company to get you out of foreclosure and they are requesting an upfront fee, you will need to proceed with caution. You will need to do some due diligence and thoroughly research these Florida Loan Modification companies back ground and credentials. Ask for references and don’t just go by testimonials that are written on their websites, as anyone can write these testimonials. Both your lender and other government agencies can provide similar services at no charge to the home owner. The first step is to contact you lender and they can refer you to a government agency in your area.

Florida - based mortgage modification expert Marlon Baugh specializes in providing loan modification information to Florida residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan. Marlon Baugh is available for interviews and will welcome all your Florida loan modification related questions. Call 954-678-5796 Ext.1 for a Free No-Obligation Consultation or visit http://specializedfinancialsolutions.com

Loan Modification Attempt by Congress woman Maxine Waters

Here is a Video of Congress woman, Maxine Waters, witnessing firsthand the frustration millions of Americans have experienced trying to obtain a loan modification.

This interview was done by ABC news with Congress Woman Maxine Waters, as her constituence have approached her for help because they couldn't get anywhere on their own and was facing foreclosure.

"The average american will NOT get a loan modification on their own," says Maxine Waters.

If the lenders will give a member of congress this much run around, imagine how these lenders treat home owners.....

Best,

Marlon Baugh
Nationally Known Loan Modification Expert
www.specializedfinancialsolutions.com
954-678-5796

Why Will Lenders Agree To A Florida Loan Modification?

Here are a few reasons.

1. They don’t want to own any real estate. They’re not
in the property business. They’re in the money and lending
business.

2. They have to increase loan loss reserves for every
loan they have in default. They don’t earn interest on
double the amount of money they have in default.

This means the bigger the loan in default is, the
harder it hurts. The banks don't want to have these
deliquent mortgages on their books as bad debt and they
definitely don’t want to foreclose and take these back as REO’s.
That’s why they want to be very flexible when
negotiating a Florida Loan Modification.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://www.specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Press Release: Florida Loan Modification Expert Reveals Insider Loan Modification Secrets Other Mortgage Lenders Don't Want The Public To Know

Press Release: Mortgage Broker, Reveals Secrets Of A Florida Loan Modification, Lenders Dont Want You To Know!

Did You Get A Florida Loan Modification That You Can't Afford???

If you are one of the many people that were offered a
Florida Loan Modification that wasn't affordable or maybe your
situation has gone from bad to worst and you need to re-modify
your Florida Loan Modification, then there may be hope, thanks to
President Obama's new MHA (Making Home Affordable)
program.

Its not going to reduce how much you owe, but if you
qualify you can get rates between 2 - 5%.

Here are some of the requirements:


· Loans originated on or before January 1,
2009.

· 1st mortgage loans on owner-occupied
properties with unpaid principal balance up to
$729,750. Higher limits allowed for owner-occupied
properties with 2-4 units.

· All borrowers must fully document income,
including two most recent pay
stubs, and most recent tax return, and must sign an
affidavit of financial hardship.

· Property owner occupancy status will be
verified through borrower credit report and other
documentation; no investor-owned, vacant, or condemned
properties.

· Incentives to lenders and servicers to
modify at risk borrowers who have not yet missed
payments when the servicer determines that the
borrower is at imminent risk of default.

· Florida Loan Modifications can start from now until
December 31, 2012; loans can be modified only once
under the program.

If any of the above sounds like you, then give your lender
a call our if you want a professional option send me an email
or call me.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://www.specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Should You Negotiate A Florida Loan Modification On Your Own???

Yes as a home owner, you can negotiate with your mortgage company
yourself. Similar to how some people act as their own
accountants or legal representation, some people are
knowledgeable enough about mortgage education that
they have no problem negotiating a Florida Loan Modification with their mortgage
company on their own.

For some the term "loan modification" is an
intimidating and confusing term. If you find yourself in this
category, you may find dealing with their mortgage company
to be a frustrating experience as they are shuffled
along the assembly line-like process, never sure if
the representative they are talking to is truly
looking out for their best interests or merely trying
to meet their quotas while attempting to keep their
talk time low.

When you are on the phone with your mortgage company
and they tell you there is nothing that can be done
for you, how do you know if this is the truth or if it
is simply what the representative chooses to tell you
as a result of their inexperience? These
representatives aren't sitting in an office of their
own, thinking about what a great career they have. The
mortgage company representatives you will deal with
work in call centers- a low-paying, high-turnover
field of employment. Our negotiators have more
experience in mortgage retention than most any of
these representatives, do you?

How many financial investments are as important to
the average person as their home? Much like in any
important matter, having the proper guidance and
representation can make all the difference in the
world. It can save you time, trouble and money when try to obtain a Florida Loan Modification.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Beware Of Overnite Florida Loan Modification Experts!

In the past few years it seems that everybody from
Mortgage brokers, Real Estate agents and even Lawyers
have become overnight "Florida Loan Modification Experts."


I have yet to find the College that bestows a
degree to these people in such a short period of time.
It seems anyone who can put a web site up becomes an
expert in a matter of days. Ironically these may be
the same people who were part of the predatory loan
disaster to begin with and are just looking to make a
quick buck.


It is amazing how little these people even know
about how a Florida Loan Modification works… their lack of
knowledge can sometimes be harmful to you, the
borrower.

Beware... of anyone telling you they can
get you a Florida Loan Modification and that the lender is going to
respond to them more readily. Beware!


Anyone who tells you they can modify your loan and
you don't have an adjustable rate mortgage, in
foreclosure or some other type of hardship is either
lying or doesn't know what they're talking about!

Think about this, why would a lender even consider
modifying your loan if there is no current problem with your loan? They
will not!!!

I hope you found this Florida Loan Modification tip to be valuable.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

How To Choose A Florida Loan Modification Company And What To Look Out For!

With the current collapse of the real estate market, there has been an increase of con artists that has arrived in the loan modification field, which target home owners that are in facing foreclosure.

What these fraudulent loan modification companies do is prey on the fears of these home owners that are in the midst of losing their homes to foreclosure. They give them empty promises which include guaranteed reduction in their mortgage rate to 2% or lower and also a guaranteed reducing in their principal balance to the current market value or lower. While these results are certainly possible, the truth is no loan modification company can guarantee these results even if it done by an attorney as it's the lender that makes the final determination. The chances of getting the amount you owe reduced is slim to none on your first mortgage, but if you have a second mortgage as well, then there is a possibility in getting that mortgage reduced as the second mortgage holder will lose everything, if the home ends up in foreclosure.

Home owners need to be aware of these scams and what to look for as more and more phony loan modification companies are on the rise and present themselves as the homeowner's last resort if they want to save their home. Many of these companies started popping up about a year ago, as lenders tightened up their guidelines and property values plummeted which as a result home owners that we in adjustable rate mortgages had even fewer options than before to refinance and save their homes from foreclosure.

Some of these scam artists even took it to another level and advised the home owner that they can stop making their mortgage payments as they are taking care of everything. Normally when the homeowner find out that they have been hustled their hard earned money, then it's normally too late to avoid foreclosure at that point.

Home owners need to ask a lot of question and do their research before selecting a legitimate loan modification company to work with. They need to be aware of what's happening in the industry. Recently a lot of mortgage brokers and real estate agents have gotten involved in the loan modification business, without properly understanding the procedures and guidelines involved, and are more concerned about the money they can make.

If the home owner is facing foreclosure, they don't want to end up with an inexperienced loan modification company that doesn't have a successful track record of accomplishing beneficial loan modifications. Another reason you want to work with someone that has experience is, most lenders will only give the home owner one chance per year to get the loan modified, so if its not done right the homeowner could still end up in foreclosure.

Here is one of the most common red flag to look for when choosing a loan modification company:

Guarantees - Scam artist are known to make empty promises and will tell you whatever you want to hear to get a hold of your hard earned money. Especially if they haven't seen your paper work and haven't made a proper analyst of your individual situation, then how can they determine what rate and terms that they will be able to accomplish for you? Remember the lender makes the final determination, not the loan modification company.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Should You Stop Making Your Mortgage Payments To Get A Florida Loan Modification??

Up until a few months ago, lenders were not modifying loans for home owners
that were on time with there payments. So if you have been considering to miss
a few mortgage payments to encourage your lender to modify your loan, you may
want to re-consider.

Normally lenders would only grant Florida Loan Modifications to home owners that were
three or more months behind and the reason for this is because these
delinquencies proved that the home owners were in need of a Florida Loan Modification.
But lenders now understand the importance of keeping a performing loan
performing or keeping a home owner making timely payments by means of a
Florida Loan Modification, instead of making the home owner become delinquent, is not a
good idea for home owner or lender.

If you check your lenders websites you will now see that majority of them now
imply that being late on your mortgage payment is no longer a requirement to get
a Florida Loan Modification approved. I want to encourage all home owners that they
should not wait until they have missed a payment, but if they foresee a problem
to contact their lender immediately to possibly avoid a delinquency.
The new Obama Plan or Making Home Affordable Plan is now dictating the
direction that many lenders are tailoring their policies in reference to loan
modifications. This new government loan modification program were designed
for home owners that are currently on time, as well as home owners that have
missed a few payments. Its also states on the main Making Home Affordable
Plan website that “"responsible borrowers who are struggling to remain current
on their mortgage payments are eligible if they are at risk of imminent default."

Now what does “risk of imminent default mean? This means that a home owner
that has a mortgage where the rate has recently adjusted and the payments are
no longer affordable or a significantly loss of income or any other type of
hardship, would make the home owner qualify under the new Obama Plan.
Now one important reason not to be delinquent with your mortgage payment, is
that is will disqualify you from getting a refinance under the Making Home
Affordable Plan, refinancing under this plan could help home owners refinance at
current market values so they are no longer upside down with their current
mortgage and get a more stable fix rate loan.

Another important reason not to miss payments is that your credit will be
tarnished for years to come. Some home owners may believe that missing a few
payments at the expense of their credit score, is not such a bad thing if they can
get a lower mortgage payment. Here are some of the consequences that most
home owners don’t take into consideration, they don’t realize how difficult
refinancing will be because of the late payments, getting approved for an auto
loan or getting new credit card accounts. Not to mention, having a low credit
score will cause utility companies to require a deposit, your interest rate on your
credit cards can go up and also you car insurance or home owners insurance
can increase because of a lower credit score.

Home owners need to also take into consideration that if they miss a mortgage
payment, that they still owe that payment, which because it’s late, it will now
include late fees and penalties and other junk fees that your lender can tack on
depending on the seriousness of the delinquency.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized
in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with
other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy
or to get instant access to the remainder of this Insider Mortgage Report, please visit
http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

What You Need To Know About The Obama Loan Modification Plan

This Plan was developed to help struggling home owners restructure their mortgage, which would reduce the foreclosure rates and Keep home owners in their homes and would also slow the decline in home values. The Obama Loan Modification Plan has about $75 billion allocated to accomplish this task of making bad loans good and should help about 4 million home owners to save their home’s from foreclosure.

In the first quarter of 2008, over 50% of loan modifications that were done has failed within the first 6 months and these home owners were again facing foreclosure; the main reason for this is because they were put into unaffordable loan modifications. The Obama Loan Modification Plan was developed to make a change in the loan modification arena, which would make sure home owners that qualify would be put into an affordable loan modification.

The plan is centered around affordable payments for home owners, as they believe that homeowners will stay in their homes if they have an affordable mortgage, despite declining real estate property values. Majority of home owners that end up into foreclosure is because they can’t Afford the payments anymore, whether it’s because they got into a loan they couldn’t afford in the first place or life events such as job loss, death in the family or illness.

In order to make the payments affordable, lenders that are participating in this program are required to reduce the home owner’s mortgage payment to 38 percent of their gross monthly income otherwise know as their debt to income ratio or DTI. From there the government would make financial contributions to bring the 38 % DTI to 31 %. To accomplish this goal, the lender or servicer will first reduce the rate as low as 2 %, if they are not at the 31% DTI mark, then they will further extend the terms or amortization of the loan from a 30 year mortgage to a 40 year mortgage.

One of the main disadvantages of this plan is that it doesn’t have any provisions that would require the lender or servicer to reduce the balance of the loan, which would have been a great incentive for home owners to stay in their homes, especially in states like Florida, Arizona and California. Because for some home owners that have seen the value of their homes dropped up to 50% of what it was worth a few years ago, then an affordable payment make not be enough to motivate them to stay in their homes and instead they will either walk away and lose the home to foreclosure or do a short sale and move on with their lives.

The Obama Loan Modification Plan has a 3 month Trial period, if they payments are made on time for the first 3 months then the modification will become permanent and the rate and terms will be fixed for 5 years. Then lender will be paid $1000 for each loan modification and up to an additional $3000 over a period of 3 years as long as the home owner continues to make their payments. Home owners also get a cash incentive where they will get up to $1000 reduction in their principal balance for up to 5 years as long as they make timely mortgage payments.

It is important to note that the Obama Loan Modification Plan was developed for individuals that have primary residences and don’t apply to investor or speculators that bought investment property in hopes to flip for a quick profit.

Do You Know Who Benefits From A Florida Loan Modification?

Today more and more lenders are implying that they are doing everything within their power to help Florida home owners that have fallen behind on their payments, but I am sure if you speak to anyone that has attempted to get a Florida Loan Modification, will beg to differ as they tackle road block after road block from their lender.

Not only are home owners finding that it’s a mission to reach a work out officer within the loss mitigation department of their lender, but to make matters worst, if they do receive an approval for a Florida Loan Modification from their lender, they are finding that new payments are as unaffordable as the original mortgage.

As more and more borrowers default on their loans for such reasons as job loss or an adjustable rate mortgages, lenders are finding that their loss mitigation departments are flooded with request from home owners who can no longer afford their payments. One of the main causes of this is lenders were not set up for the work load and mortgage restructuring that the rise in foreclosures have caused. The main purpose of servicing companies were to collect monthly payments from the borrowers as there were limited request to help home owners modify their existing mortgages within past years.

Most Florida Loan Modifications that are offered by lenders result in either a temporary and minimal rate reduction and an increase in the principal amount owed, as the lenders tact on the arrearages with late fees and many other garbage fees that purposively arise from the mortgage going into default. Home owners will find that the amount they owe increases because of the missed payments and these junks fees and as a result the new payment that is being offered by the loan modification is even higher than the original mortgage payment.

In saying that, some home owners need to realize that a Florida Loan Modification isn’t for everyone and that renting and starting over can be a better options for many, especially if you live in a state like Florida where many Floridians have loss in excess of a hundred thousand in equity over the last 2 years and the Florida market is still declining.

With a combination of the current U.S. economy and sub prime loans, foreclosures are far out pacing the number of Florida Loan Modifications that are being done.
Many Florida Loan Modifications done today tend to be unaffordable, because of no reduction to the principal balance of the mortgage and or a significant rate reduction and as a result we are now finding that over 50% of loan modification done within the last year have gone back into default.

One of the main duties of a servicer is to collect every dollar owed by the home owner for the lenders or investors that actually owns the loan, and this is one of the main reason that home owners are finding that their lenders are sometimes reluctant to modify their loan, as this could result in less income for them and the potential of huge losses for the investors or lenders that hired them.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

The Florida Loan Modification Process - What You Need To Know!

This article was written to give a brief overview of how the Florida Loan Modification process is handled when the home owner is dealing directly with their lender. Before I begin I have to let you know that I am not trying to persuade or scare you from doing a Florida Loan Modification on your own, but instead I am trying to give you real information, so stay with me. Before you attempt a Florida loan modification it is important to know what you will be getting yourself in, as some lenders only give the home owner one shot at this per year.

It will normally begin with several phone calls to the lender or servicer in which the phone call will be answered by an automated system which will provide a list of menu options, and not to mention prolonged hold times for up to 60 minutes depending on call volume and the hold music will sometimes put you to sleep and if you are lucky after waiting 30, 40 minutes your call wont drop and you may have to start all over again. Some home owners describe this as modern day torture.

Once you finally reach a live person and you give them you loan number and other identifying information, don't be surprised if they have to transfer you to another department 3 or 4 times in which you will have to give all you information over and over again to every representative you speak to. To save you time and frustration you will need to speak to the loss mitigation department, this is the only department that can and will handle Florida Loan Modifications, so don't waste your time with customer service, some of the customer service reps have no clue as to what a loan modification even means.

Once you do get a hold of someone that is knowledgeable, you will want to get their full name, direct number and or extension, this way in the future you can get around the long hold times.
To save you frustration and from getting a full head of gray hair, believe me this process have been known to do worst, you can hire a Florida Loan Modification Expert. A Florida Loan Modification Expert is able to devote their complete attention and skills to getting you a beneficial Florida loan modification. There are hundreds of Florida Loan Modification strategies that a Florida Loan Modification professional will use, depending on the home owners individual situation. Most Florida Loan Modification will result in any of the following: reducing the interest rate, converting the adjustable rate to a fixed rate loan, forgiving default payment, or a combination of any of the above. Principal reductions are definitely a possibility but it is very rare, if you consult with a Florida Loan Modification Company and they guarantee principal reductions you should run and not walk away.

Lenders are more willing to grant just an interest rate reduction, because if done properly will keep the home owner paying their monthly payments and they can avoid a short sale or foreclosure, as short sale and foreclosures are very costly options for the lender.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

A Behind the Scenes Look on Fort Lauderdale Loan Modifications

The Fort Lauderdale Loan Modification process is actually a very multifaceted process. What I mean by that is, the entity that actually makes the decisions on Fort Lauderdale Loan Modifications are not always made by the company that owns the loan. Instead it's actually the investors who own the mortgage back security that you loan is a part of that make the decisions as to whether or not to approve your Fort Lauderdale Loan Modification.

The decisions are based on this factor, what is most "beneficial" - which mean how can they keep more money in their pockets and minimize their losses. This is why the typically result of a Fort Lauderdale Loan Modification is just a rate reduction and they would prefer to keep you paying than going into foreclosure or committing to a short sale.

Even though the borrower's circumstances make an impact on their decision, the lender really doesn't care what a foreclosure will do to the borrower's credit. This is exactly why it is recommended to use a Fort Lauderdale Loan Modification expert to structure your Fort Lauderdale Loan Modification and present a strong case to your lender.

If the home owner is upside down and has negative equity, then this will actually increase their chances for getting their Fort Lauderdale Loan Modification approved, as the amount of equity or lack of is a crucial factor in determining if a Florida Loan Modification is appropriate for the home owner. For a home owner to determine their equity position, they will need to get an idea of what homes are selling for in their neighborhood. They can do this by either contacting a real estate agent or using websites such as zillow.com, where the home owner can input their address and this site will show recent sales and active listings in the surrounding areas.

Adjustable rate mortgages coupled with other life events are almost a guaranteed Florida Loan Modification, especially if the rate adjusted and caused the home owner to default. Adjustable rate mortgage are considered an extreme hardship and becomes a major factor when getting a Florida Loan Modification approved.

If done correctly, a Florida Loan Modification can prove to be a win-win situation for both home owner and lender. Many lenders have turned to a Florida Loan Modification as a means to protect their real estate investments.

It is not uncommon in today's market for the servicer to string along the home owner and tell them every thing is ok, when its not, before the home owner knows it, the sheriff is knocking on their door, serving them with a lis pendens that shows that their lender has filed a lawsuit and has started the Florida Foreclosure process. That is why I want to encourage home owners that are not educated enough to deal with this process to hire a professional Fort Lauderdale Loan Modification Company to assist them during these stressful times to ensure a smooth and quick Fort Lauderdale Loan Modification.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Understanding Florida Loan Modifications, What You Don't Know Could Hurt You!

More and more Floridians are at risk of foreclosure and losing their homes as the U.S. economy seems to deteriorate on almost a daily basis. If its not banks shutting down, it's the unemployment rate increasing to rates not seen since the great depression.

Lenders are swamped with applications from florida home owners that are in default and don't have the man power to keep up with the demand from florida home owners that want to save their homes. The dream of florida home ownership seems to be withering away and is becoming more of a nightmare for florida home owners as their homes are losing value on a monthly basis and many have adjustable rate mortgages that spiked up and made the payments no longer affordable. Today the solution for many florida home owners that want to keep their homes is known as a Florida Loan Modification. A Florida Loan Modification is one very powerful tool that have helped the average Joe's and Jane's out there to save their home from florida foreclosure.


If you find yourself falling behind on payments because of an adjustable rate mortgage, reduced hours at work, divorce, illness or any other type of financial hardship, then working with a florida loan modification expert can be your saving grace. Although you can attempt to work directly with you lender to get a florida loan modification, it is highly recommended to have a professional handle your case as they know exactly what the lenders are looking for and can increase your chances of actually getting approved for a florida loan modification. If you attempt the loan modification yourself, you will find that the lender will normally try to take advantage of the home owners and not work out a mutually beneficial loan modification. Statistics have shown that most home owners that attempt a florida loan modification without a professional florida loan modification expert, usually end up back in default within the first 6 months.


The florida loan modification process is a very time consuming and frustrating process, as each lender has its own standards and procedures that makes it very difficult for many florida home owners to attempt on their own. To make matters worst, these lenders seem to change their guidelines and requirements almost on a daily basis to accommodate the ever changing real estate market.


A good Florida loan modification company can use TILA (Truth In Lending Act) and RESPA (Real Estate Settlement & Procedures Act), as leverage to get a speedy and beneficial florida loan modification that may include a rate reduction ( 0% -6%) and or principal reductions to today's current market value. These two ACTS were developed to protect borrowers from predatory lending.


Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Florida Home Owners Guide To The Stimulus Plan

The goal of the plan is to help home owners on the brink of Florida Foreclosure and also to help home owners that owe more than their home is worth.
Its important to note that this program will go into effect March 4th, 2009 and not until then will we have all the details about eligibility.

If you are like many home owners who pay their mortgage on time, but cant seem to get approved for a Florida Refinance because you don't have any equity, you will now have a chance to refinance into a 30 year fixed rate mortgage, that is if you mortgage is owned by Fannie Mae or Freddie Mac. Now how do you know if you mortgage is owned by these 2 giants? It will take some research, you will need to contact your current servicer or lender and ask them, who owns my loan?

Now the new loan can go up to 105% of the value of the property, which mean if you owe $210,000 and your property is worth $200,000 or less you will qualify, not sure how may people this will help, especially in states like Florida because Florida home owners are seeing drastic decline in values more like $50,000 to $100,000 compared to the last two years. If you are in Florida or any other state that has significant depreciation in your property, then there are still options outside of this stimulus plan, such as a Florida Short Refinance and or Florida Loan Modification.
Now lets discuss now this plan will help those that may be facing foreclosure:

The government will give lenders and incentive to actually work out a Florida Loan Modification with home owners that have fallen behind on payments.

In general, you may qualify for a Florida Loan Modification if (a) you occupy your house as your primary residence; (b) your monthly mortgage payment is greater than 31% of your monthly gross income; and (c) your loan is not large enough to exceed current Fannie Mae and Freddie Mac loan limits. Final eligibility will be determined by your mortgage lender based on your financial situation and detailed guidelines that will be available on March 4, 2009.

Now if you have two mortgages on your property, then only the first mortgage will be eligible under the plan, however second mortgages are usually more willing to do a Florida Loan Modification or even a settlement for pennies on the dollar, because of the risk of getting nothing if the property goes into Florida Foreclosure.

Since the goal of this plan is to make the payment more affordable and to avoid foreclosure, lenders will be encouraged to do whatever it takes, such as rate reductions, longer amortization periods and reduction in principal balances.

To encourage borrowers who work hard to retain homeownership, the plan provides payments to borrowers who make keep up with the payments on the modified loan. The incentive will be paid monthly and will be applied directly to reduce your mortgage debt. Borrowers who pay on time for five years can have up to $5,000 applied to reduce their debt by the end of that period.
Please keep in mind this program is voluntary for the lenders and the government is just offering incentives to encourage them to work out some type of Florida Loan Modification.

Click Here for more insider mortgage information to restructure your mortgage

Is There Really Florida Mortgage Help In The Stimulus Plan?

We all here the bells and whistles of this new stimulus plan, but a few questions are yet to be answered, such as;

How exactly will this work? When will it work? and will it really affect each and every home owner?

The details have yet to be unveiled and I am sure there will be some type of help for home owners, but how much and who exactly will it affect is yet to be determined.

Now you have to ask yourself, why hasn't there been more details? because how did they come up with a number (billions of dollars later) which is suppose to fix the housing crisis without the how, when and who.

The answer is simple....The mighty congress is still not sure of the correct approach to fix this housing mess. We just hope they figure it out before spending billions to say oops, that didn't work so we need another $500 billion.

In all fairness, here is the logistics:

It is not an easy task to determine which borrowers need help just by looking at each loan out there. And this is especially tough because these mortgages are owned by several different investors and they have to make it attractive for this investors to go along with the plan.

Now its important to note that the bailout plan is designed for home owner in default, the problem with that is the home owners that pay on time are being affected as well, with such problems as declining market value and as a result believe they need a bail out as well. The problem with that is, some homeowners that are currently on time will purposely go late to be part of the bailout and some may see the rational if they can get their principal balance down and and better rate. But we will see once all the details are ironed out by the new administration.

Here is Why You May Need Help With A Florida Loan Modification

It is important to understand that, you as a homeowner can work directly with you lender to work out a Florida loan modification.

However, when lenders reach out to homeowners, their main goal is "an attempt to collect a debt”, what this means in plain english is to take as much money from the home owner as possible, so they can to keep the payments current.

Many florida home owners become frustrated with the process and give up, and the only recourse is Foreclosure,deed in lieu (signing over your home to the lender), or just walking away.
The sad part is that many homeowners are ill-equipped to negotiate, or use the bank-backed debt collectors to “negotiate”.

The other thing to keep in mind is that most lenders only give a home owner one chance per year to do a florida loan modification, so if you don't feel up to the challange, which including being left on hold for 30 - 60 minutes at a time to get hung up on while on hold and after you faxed a document to them 10 times, they turn around and tell you they never received it.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

How To Choose A Florida Loan Modification Company..

With the current collapse of the real estate market, there has been an increase of con artists that has arrived in the Florida Loan Modification Arean, which target home owners that are in facing foreclosure.

What these fraudulent Florida Loan Modification companies do is prey on the fears of these home owners that are in the midst of losing their homes to foreclosure. They give them empty promises which include guaranteed reduction in their mortgage rate to 2% or lower and also a guaranteed reducing in their principal balance to the current market value or lower. While these results are certainly possible, the truth is no Florida Loan Modification Company can guarantee these results even if it done by an attorney as it’s the lender that makes the final determination.

The chances of getting the amount you owe reduced is slim to none on your first mortgage, but if you have a second mortgage as well, then there is a possibility in getting that mortgage reduced as the second mortgage holder will lose everything, if the home ends up in foreclosure.

Home owners need to be aware of these scams and what to look for as more and more phony Florida Loan Modification companies are on the rise and present themselves as the homeowner’s last resort if they want to save their home. Many of these companies started popping up about a year ago, as lenders tightened up their guidelines and property values plummeted which as a result Florida Home Owners that were in adjustable rate mortgages had even fewer options than before to refinance and save their homes from foreclosure.

Some of these scam artists even took it to another level and advised the home owner that they can stop making their mortgage payments as they are taking care of everything. Normally when the homeowner find out that they have been hustled their hard earned money, then it’s normally too late to avoid foreclosure at that point.

Florida Home owners need to ask a lot of question and do their research before selecting a legitimate Florida loan modification company to work with. They need to be aware of what’s happening in the industry. Recently a lot of Florida Mortgage Brokers and real estate agents have gotten involved in the Florida Loan Modification business, without properly understanding the procedures and guidelines involved, and are more concerned about the money they can make.

If the home owner is facing foreclosure, they don’t want to end up with an inexperienced Florida Loan Modification company that doesn’t have a successful track record of accomplishing beneficial Florida Loan Modifications. Another reason you want to work with someone that has experience is, most lenders will only give the home owner one chance per year to get the loan modified, so if its not done right the homeowner could still end up in foreclosure.

Here is one of the most common red flag to look for when choosing a Florida Loan Modification Company:

Guarantees – Scam artist are known to make empty promises and will tell you whatever you want to hear to get a hold of your hard earned money. Especially if they haven’t seen your paper work and haven’t made a proper analyst of your individual situation, then how can they determine what rate and terms that they will be able to accomplish for you? Remember the lender makes the final determination, not the loan modification company.


Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Your Home: A Short Refinance May Help You Keep It….

Today there are many home owners that have paid their mortgage on time, but have found themselves in an adjustable rate mortgage, that has adjusted or is scheduled to adjust in the near future. Now they have good credit, good mortgage history, but the problem is they cannot refinance as they owe more than their home is worth.

Well so they've been told, but one insider secret option that is available to home owners in this situation is a short refinance. If the above scenario describes your situation, then your first step towards a short refinance is to contact your lenders Loss Mitigation department to see if they would be willing to participate in a short refinance. If they say NO, then you will want to ask what other options are available to you, such as a loan modification, and IF they say yes, then great, you now need to find a short refinance expert to get the ball rolling.

You will want to find a Mortgage Expert that has experience with loss mitigation and who specializes in Short Refinances. This is not time that you want to just pick any mortgage broker from the yellow pages or to let the family friend that is a mortgage broker use you as a guinea pig. Short Refinances are a complicated transaction and require a lot of attention and a great deal of knowledge of the loss mitigation procedures.Now to start the process you will need to contact you lender and let them know you are considering doing a short refinance and to send you the short refinance package.

In this package you will have to fill out an application, a personal financial statement that will list all you income and expenses, 2 months recent bank statements, 2 years tax returns, current paystubs and a hardship letter. The hardship letter is simply an explanation of why you can no longer afford your mortgage payments and why you need to refinance. You want to make these letters simple and to the point, no need to write a 50 page essay. The next step is to get pre qualified with an FHA Lender, the reason FHA Lenders are preferred is because they will give you the highest LTV possible which will make your offer to your current lender more attractive.

Once you have the approval you will want to put it with your short refinance package and submit to your lender for approval.Once the package is received, then your lender will order a BPO (Brokers Price Opinion), this is similar to an appraisal, but is an inspection normally performed by a real estate broker in the area to give the lender an idea of the current market value. Once the BPO is reviewed, the lender will give you an offer for the new payoff amount.

From here you will want to proceed with you new FHA Loan, which will require a separate FHA appraisal, hopefully the appraisal will have the same or similar value to the BPO, if there is a significant difference, then your mortgage broker will have to go back to the lender and renegotiate. The ideal situation is to get you refinanced without having to bring any money to the closing table, but in some cased the lenders will not bend, and to make the deal work you will have to bring some cash to close. Once the mutually beneficial agreement has been reached, then the lender will issue a release of lien. This document will show what the lender will accept as a net payoff.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Florida Short Refinancing Frequently Asked Questions:

What is a Florida Short Refinance?

A Floria Short Refinance is when a lender accepts less than what is owed on the mortgage to allow the home owner to refinance.

Will A Short Refinance Damage My Credit?

It depends; unfortunately this question has both a Yes and No answer. The short refinance could show up on your credit as Settled For Less Than Full and may drop your scores 50 -70 points. But in actuality most lenders will report as "Mortgage Paid" after a short refinance, which will actually increase your scores as it has no negative impact, but it all depends on your lender.

Can I get Get Cash Out From The Refinance?

No, since the lender is taking a loss as they reduce the amount you owe them, they will not allow the homeowner to get any money at closing.

Will I have to Pay Back The Difference?

Most lenders will normally release the home owner of the full balance in writing. Especially if they know you don't have any significant assets. And typically the IRS will require that you pay taxes on the forgiven amount but in 2007, they no longer consider the forgiven debt as taxable income on primary residences. Please consult with your tax advisor for more details on The Mortgage Relief Debt Act.

How Long Will The Process Take?

It depends on your specific lender, but normally you are looking on about 30 – 45 days. The key is to make sure you give the lender everything they need in a timely fashion and continuous follow up with your lender on a daily basis.

What Will I Need To Qualify?

Once you lenders give you the go ahead to start the Short Refinance procedure, then it's just a matter of getting qualified for an FHA Loan. FHA has some of the lowest fixed rates available in today's market as well as the the highest loan to values which is preferred by most lenders that are participating in short refinances.

How Much Will This Cost Me?

It depends on the loss mitigation professional that you are working with, but most normally charge about 1% of the new loan amount which is paid at closing and normally the only upfront fee is for the FHA appraisal.

Why Would A Lender Participate In A Short Refinance?

Lenders only care about two things, which is how much you owe them and how much the house is currently worth. The reason they will consider to do a short refinance is because they will get more money out of a short refinance when compared to a short sale and a significant amount more than if the house was suppose to go into foreclosure. The short refinance is based on the market value of the property, while the short sale is based on the best offer and no one in this market is going to pay market value for a home today. Also the average foreclosure will cost a lender about $100,000.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Owe More Than Your Home Is Worth - Now What???

If you own a home in a declining market such as South Florida, then you may have a rude awakening when you find out how much your house is worth in today’s market, especially if you need to sell or refinance in the near future. Some Florida home owners have the flexibility to wait out this declining market, while many more don’t, for such reasons as divorce, relocation, financial hardship or an adjustable rate mortgage that just spiked up a few hundred dollars and home owners can no longer afford their home and may possibly face foreclosure.

For many, the thought of owning a home that is upside has turned their dream of home ownership to a nightmare of home ownership. If you are a Florida homeowner that is currently facing this situation, then you will be glad to know that this article will reveal several different options that are available today, as I reveal some of the lenders best kept secrets of a FLORIDA SHORT SALE if you want to see and a FLORIDA SHORT REFINANCE if you want to keep your home.

It’s important to understand what Lenders care about, before they are approached for a Florida short sale or Florida short refinance. They only care about the bottom line, which is how much do you owe and how much cash they will receive if they agree to do a Florida short sale or a Florida short refinance.

Now what exactly is a Florida short sale? This is the option that you would want to go with if you decide you no longer want your home and would just rather sell, than try to find ways to keep your home. A Florida short sale is when the lender agrees to reduce the amount you owe on your mortgage to an amount less than the current market value and low enough where it will be more attractive for someone to buy in today’s market.

What exactly is a Florida Short Refinance? This is the option that you want to consider if you decide you don’t want to move and you would like to keep your home. The benefits of the Florida short refinance is that you will get a new low, 30 years fixed rate mortgage, typically an Florida FHA Mortgage Loan and you will owe less than the current market value of your home. Yes, you heard me right, there is a way to refinance, even if you are upside down, but you have to have the ability to qualify for an Florida FHA Mortgage Loan. But if your credit is shot, then you may need to consider other options such as a Florida Loan Modification .

Now you may be wondering why a lender would even consider these options as it appears they will be losing a lot of money. Well, the reason lenders agree to do a Florida Short Sale or Florida Short Refinance, is that they believe that if the property ends up in foreclosure, then they stand to lose a whole lot more, as the average Florida Foreclosure will cost a lender anywhere from $50,000- $100,000.

Now everyone’s situation is different, some lenders will agree to either the Florida Short Sale or a Florida Short Refinance, while other may just agree to a Florida Short Sale. It is best to find a mortgage expert that can help you navigate this process and make an educated decision, and even if you lender doesn’t agree to a Florida Short Refinance and you really want to keep you home then there are other loss mitigation options that are available today, such as a Florida Loan Modification.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Should I Buy/ Should I Sell????

Recent national reports about the slow housing market have raised many questions for concerned homeowners: "Is now the time to sell?" "Should I buy that vacation home in Miami?"

In order to really discover the answer to nagging Florida Real Estate market questions, homeowners must collaborate with their Florida Mortgage and Florida Real Estate professional to explore the real estate situation on a local level.

Should I Buy? Tips for Florida Home Buyers: The market is in your favor, interest rates are low, more housing is available in select markets and sellers are offering great buyer incentives. Below are a few tips to help you successfully shop for new real estate.

• Take your time, but not too much time. Yes, home prices are lower, but continuing to wait in hopes that the price will decline may backfire on buyers. If you find a property that you can't live without, make an offer and negotiate. Work with your Florida Real Estate professional and suggest a price that reflects the local market and sales' price of the homes nearby.

• Watch out for competition The National Association of Realtors is expecting an increase in home sales in 2009, so don't think you are the only one out there shopping. People are constantly moving due to new job opportunities, marriage, divorces and more, so be prepared to make counter offers.

• Know your loan According to bankrate.com, interest rates are still very low. The average national interest rate on a 30-year fixed mortgage is about 5.79 percent. But, before you sign, be sure you fully understand your loan products. Work with your real estate and mortgage professionals to find the best option that will fit your financial situation.

Should I Sell? Tips for Florida Home Sellers: The National Association of Mortgage Brokers predict a big selling boom this year, so be prepared for lots of competition. Below are a few tips that will help you successfully sell your Florid Real Estate.

• Set a realistic asking price Over the past few years, Florida Home Sellers have been able to get away with asking extremely high prices for their property in select markets. Now that the market has cooled, sellers may feel that they are getting the short end of the stick.
According to Jim Gillespie, president and CEO of Coldwell Banker, sellers "need to realize that a home is where you live. It's not a lottery ticket," it is a long term investment.

Work with your real estate professional and investigate the local real estate market and what the sellers within your community are asking for their property. Setting a proper asking price will obtain more offers.

• Fix up your home Making a great first impression is crucial. A few minor improvements and a fresh coat of neutral colored paint to visible exterior and interior parts of your home will help catch buyers' attention.

Keeping you informed…Keeping you up to date on the latest housing market news and making sure you receive the best mortgage options and rates is our commitment to you. Call today at 954.678.5796, or visit www.specializedfinancialsolutions.com to obtain custom loan options that will fit your current financial situation and help you obtain your ownership goals.