YOU DON'T HAVE TO FORECLOSE ANYMORE! SHORT PAY REFINANCING IS GOVERNMENT INSURED TO HELP PEOPLE JUST LIKE YOU GET BACK EQUITY IN YOUR HOME! THIS IS NOT A LOAN MODIFICATION! LOAN MODIFICATIONS ARE GOING TO BE ILLEGAL SOON! READ BELOW FOR HOW WE GET YOU BACK TO WHERE YOU WANT TO BE WITH HOME OWNERSHIP!!!!
If you want to call me to have this explained to you over the phone my number is 925-474-8153 CALL NOW! :) DO NOT WAIT THE 85 BILLION IN T.A.R.P. FUNDS WILL RUN OUT!!! GET APPROVED TODAY!!!!
The Short Pay not to be confused with a loan modification...
A Short Pay is a new type of refi that is working to actually lower the value of the loan to 5% less than the current market value and refinance the loan with a new bank in the mid 5's with a 30 year fixed rate.
The big differences between a short pay refi and a loan modification are:
1. A short pay refi has little to no effect on your credit.
2. This actually lowers the principal balance of the loan whereas a loan mod just lowers your interest temporarily.
3. You must NOT have been late on your payment within the past 12 months, whereas, with a loan mod, in order to have some negotiating power, you must be at least 3 months delinquent in your payments (one of the reasons a loan mod ruins your credit).
4. You don't pay tax on the deficiency balance (the amount your principal is lowered) as long as you are the primary resident whereas, with a loan mod, the principal balance is NOT lowered in the first place, and with a short sale, even though the balance you owe is lowered when the bank sells it, you owe taxes on the deficiency balance.
This now gives home owners incentive to keep their house with no loss, and it provides the banks with less work & less potential future loss.
The reason banks are doing this now is because they will make more money this way. If the property goes to foreclosure, they will get less than half of the market value of the home in the end, and if it ends up a short sale, they will get about 80%. A short pay gives the bank 97% of market to walk away from the house without anymore pain and future hassle of trying to get rid of it.
Stop trying to work out a deal with your bank, here at OF Lending we have a staff with decades of experience ready to negotiate your loan! Check out our websites! We are registered with the DRE and we DO NOT CHARGE A FEE UP FRONT! We are not compensated until you are HUD approved! Please let us help you! ALSO IF WE CAN NOT HELP YOU WE HAVE IN HOUSE CREDIT REPAIR AT NO CHARGE TO YOU!!! As long as you use us for you next home purchase! We are the only company completing these with an 80% DOCUMENTED SUCCESS RATE!!!
My name is James Cavalier, I am ready to help you!
Please feel free to email me @ email@example.com or call me at 925-474-8153
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