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Select Realty Investment Inc

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Information about Select Realty Investment Inc
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Published on December 17, 2008

Author: o0oraiderso0o

Source: authorstream.com

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Select Realty:  Select Realty Foreclosure Prevention 925-250-1754 About Us:  About Us We are Certified Foreclosure Prevention Consultants We have people who can directly work with your lender on your behalf and obtain the best solution that would work for you, if you qualify! We have over 20 years of experience and an established working relationship with over two hundred mortgage lenders nationwide Presentation Contains:  Presentation Contains Typical Foreclosure Process Homeowner’s Options Foreclosure Prevention Service Foreclosure Prevention Process Homeowner’s Obligations Notice of Cancelation General Provisions Money Back Guarantee Step 1:  Step 1 Day 1 Payment Due 15 day grace period Step 2:  Step 2 Day 15 Grace period is over Still No Payment Step 3 :  Step 3 Day 30 Lender is more aggressive Call you at home and work Sending letters stressing importance of paying ASAP Step 4 :  Step 4 Day 60 Continued phone calls and letters Send letter saying account is in Default Need two payments plus late fees Some lenders will accept one payment plus late fees Step 5 :  Step 5 Day 90 (Hump Date) Very Important Time in the process Reinstatement period begins (homeowner can pay back all payments) Three payments plus late fees “It’s Point of No Return” Foreclosing attorney files papers with court house 20 days to respond Step 6:  Step 6 Papers Served NOD – Notice of Default, Lis Pendens Legal notice filed in newspaper You’re contacted by lots of people who want to help you Court date is set for Summary Judgment Hearing (30 to 60 days later) Step 7:  Step 7 Summary Judgment Hearing Date is set for house to be auctioned at court house steps A 14 Day Notice of the Trustee Sale is recorded The Right to Re-instate the loan expires 5 business days before the sale date Step 8:  Step 8 Auction Sold to the highest bidder If the house sells for MORE than what’s owed, the remainder goes to the original owner If the house sells for LESS that what’s owed, usually the holder of the first mortgage will make a bid Official foreclosure goes on your credit report After the Auction:  After the Auction You will be served a notice on door saying to vacate home Within 72 hours if you are the homeowner, Within 30 days if you are a tenant If you don’t comply, the lender will request the Sheriff to remove you, any remaining occupants will be escorted out Any remaining belongings go to person who bought the house Prevent Foreclosure Call Now!:  Prevent Foreclosure Call Now! 925-250-1754 7567 Amador Valley Blvd. Ste. 300 Dublin, CA 94568 Call Now to get back Control of your Financial Life! Homeowner’s Options:  Homeowner’s Options Keep/Stay in the Home or Get out/Abandon the Home Keep/Stay in the Home:  Keep/Stay in the Home Reinstatement Repayment Plan Forbearance Refinance Loan Modification Sell to an Investor Reinstatement:  Reinstatement The repayment of all past due payments, late fees, penalties and cost due on an obligation secured by a deed of trust, or mortgage with the effect of reinstating the normal terms of the loan Repayment Plan:  Repayment Plan Down payment of 20-40% of the total amount due and proof of the homeowner’s ability to repay part of the delinquency each month, in addition to their regular monthly remaining past due amount over an 18-24 month period Forbearance:  Forbearance Your lender may allow you to reduce or suspend payments for a short period of time and then agree to another option to bring your loan current Refinance:  Refinance Can be a valid option although your credit score has been negatively impacted due to missed mortgage payments Need Low LTV (Loan to Value) 75% Loan Modification:  Loan Modification Changing the original terms of the mortgage Freezing current payment so that no recast will occur at its regularly scheduled date Rate Reduction = lower monthly payments Principal Reduction = Short Refinance = with current or another lender Add defaulted payments and late fees to the principal of the mortgage Extend Payments terms 30 years to 40 years or 50 years Lender may forgive Pre-Payment Penalty Often lenders require a “Consideration Fee” Sell to an Investor :  Sell to an Investor Who is willing to let you lease option it back from them to purchase at a later date Allows the homeowner to rebuild his/her credit Allows the homeowner to stay in the home Prevent Foreclosure Call Now!:  Prevent Foreclosure Call Now! 925-250-1754 7567 Amador Valley Blvd. Ste. 300 Dublin, CA 94568 Call Now to get back Control of your Financial Life! Get out/Abandon the Home:  Get out/Abandon the Home Regular Sale Short Sale (Upside Down) Deed in lieu of foreclosure/Cash for Keys Regular Sale:  Regular Sale Listed by a Realtor Listed at or above the mortgage balance Short Sale (Upside Down):  Short Sale (Upside Down) Is when the lender agrees to accept an offer on the home for less than what it’s owed on the property The cancelation of debt may be taxable Slide26:  Deed in lieu of foreclosure A straight trade between the homeowner and the lender, the lender gets the deed and the homeowner gets to walk away from any obligations Cash for Keys The Lender gives Cash to the homeowner in exchange for the keys of the home. The home has to be in good standing Saves thousands in avoiding cleaning and eviction costs Prevent Foreclosure Call Now!:  Prevent Foreclosure Call Now! 925-250-1754 7567 Amador Valley Blvd. Ste. 300 Dublin, CA 94568 Call Now to get back Control of your Financial Life! Foreclosure Prevention Service :  Foreclosure Prevention Service The services of a Consultant will be in 3 Phases Upon completion of a phase, Consultant will not be required to make any further services and Homeowner will not be obligated to pay for additional services unless Homeowner requests Consultant in writing to proceed with services in the next phase. Phase 1:  Phase 1 Meet with Homeowner and discuss: Foreclosure process Homeowner’s Foreclosure Prevention Options Foreclosure Prevention Service Foreclosure Prevention Process Sign Documents needed to proceed with Foreclosure Prevention Homeowner shall decide whether he/she wishes to continue to Phase 2 CHARGE FOR PHASE 1 SERVICES FREE Phase 2:  Phase 2 Obtain Information from Homeowner Homeowner’s Financial Condition, Borrower’s Authorization, Mortgage Statements, Last 2 Paycheck stubs, Last 2 Bank Statements, 2007 Tax Returns, 2007 W2’s, Hardship Letter Upon receipt of the above information Valuation of the Property and Credit Score Analyze alternatives and discuss with Homeowner CHARGE FOR PHASE 2 SERVICES $1,250.00 Phase 3:  Phase 3 Prepare and submit to Homeowner’s lender a report of Homeowner’s financial condition Follow up to discuss alternatives with Homeowner’s lender until resolution to the mutual satisfaction of Homeowner and Lender is obtained or It is determined by Consultant that such resolution is not reasonably possible* CHARGE FOR PHASE 3 SERVICES $750 due before package is submitted to lender *See details Prevent Foreclosure Call Now!:  Prevent Foreclosure Call Now! 925-250-1754 7567 Amador Valley Blvd. Ste. 300 Dublin, CA 94568 Call Now to get back Control of your Financial Life! Money Back Guarantee:  Money Back Guarantee If Phase 3 is completed and it is NOT the Homeowner’s first attempt at Loan Modification, and Consultant is unable to secure any Loan Modification to Homeowner’s current loan or delay foreclosure of Property, Homeowner will be refunded any fees paid less $750.00 Money Back Guarantee:  Money Back Guarantee If Phase 3 is completed and it is the Homeowner’s FIRST ATTEMPT at Loan Modification, and Consultant is unable to secure any Loan Modification to Homeowner’s current loan or delay foreclosure of Property, Homeowner will be refunded 100% of any fees paid Foreclosure Prevention Fees:  Foreclosure Prevention Fees Upon Consultant’s completion of services for each Phase, Homeowner will pay to Consultant the charge stated for such Phase Phase 1 = FREE Phase 2 = $1,250 Phase 3 = $750 Prevent Foreclosure Call Now!:  Prevent Foreclosure Call Now! 925-250-1754 7567 Amador Valley Blvd. Ste. 300 Dublin, CA 94568 Call Now to get back Control of your Financial Life! Homeowner’s Obligations:  Homeowner’s Obligations Provide Consultant a complete, accurate and truthful information documentation reasonably requested by Consultant timely, in order for Consultant to perform its services (within 72 hours of request) Direct lender and its representatives to forward all correspondence and notices to Consultant Reasonably approve and follow Consultant’s recommendations regarding strategies to avoid or resolve a foreclosure or Loan Modification Homeowner’s Obligations:  Homeowner’s Obligations Immediately notify Consultant and provide copies of any correspondence, notices or other communications with or from Homeowner’s lender Fully cooperate with Consultant in performance of Consultant’s services Timely execute all documents to complete a workout of the foreclosure or Loan During the term of this Agreement, Homeowner may not contract with or seek assistance from any other foreclosure consultant Timely pay Consultant Notice of Cancelation:  Notice of Cancelation Homeowner may cancel this transaction at any time prior to midnight of the third business day after the date of this agreement. General Provisions:  General Provisions Consultant does not and cannot insure a successful outcome of the foreclosure or Loan Modification Consultant will not offer any legal or tax advice and Homeowner should contact an attorney or accountant for specific answers to tax and legal questions Prevent Foreclosure Call Now!:  Prevent Foreclosure Call Now! 925-250-1754 7567 Amador Valley Blvd. Ste. 300 Dublin, CA 94568 Call Now to get back Control of your Financial Life!

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