Wednesday, January 15, 2014

How to improve your credit scores?

Pay down your debt according to levels of priority. 

I came across this article while browsing through Zite (my virtual magazine) and this hits it right on the money!
The strategies pointed out are some that I've practiced and you will see results in 30-60 days. The better your debt to income ratios, the greater possibility of your credit scores rising. Click the link and share your thoughts.

Monday, December 16, 2013

What is a Notice of Default?

What is a Notice of Default? And what should I expect now?

The internet has become the virtual encyclopedia of information but take great caution on who you elect as your source. As you do your research and try to find answers to some of your issues, it's very necessary to research your source for credibility and experience regarding the subject matter. The information contained in this post has been generated from my work experience in the real estate market. Keep in mind that  every individuals situation is different and it takes a deep evaluation of finances and goals to determine the best solution on how to handle each real estate matter. I hope you find this post helpful and I hope it helps you take the necessary steps to handle your current situation, please feel free to add to the post and your comments are highly appreciated, I'm always looking for the opportunity to grow and get better!
On average – after the third month of delayed mortgage payments the Notice of Default is sent out.

What it a Notice of Default?

The Notice of Default is the beginning stages of the foreclosure process. In short also known as the (NOD) – The lender (or Trustee for the Lender) files a Notice of Default with the county after the property owner (trustor) fails to make loan payments. The purpose of the notice: to give constructive notice to the public of the default. Therefore your public record information becomes visible under the list of NOD’s and you will get a phone call, a visit and some mailers from professionals looking to help with your matter. After the recording of the Notice of Default, the borrower is given proper notification and has 90 days to bring their account current with the Lender. This period of time is also called the Reinstatement Period.
It’s time to TAKE ACTION! – During this Reinstatement period it’s very necessary to step into action in order to avoid the Notice of Trustee Sale (NOS).

Actions you can take:

Modification – This option allows for renegotiation with your current Loan. The interest rate is reduced for a period of time and depending on your amount owed and home value, principal reduction may be an option. In order to exercise this option with success, proof of income is necessary. Therefore the borrower or anyone living under the roof may be able to contribute their earning as proof of income. This will allow the Lender evidence that you will be able to keep up with your reduced monthly mortgage payments.

Short Sale – This option will require negotiation with your current Lender in order for approval to sell the home for less money of what is currently owed. This is a good option to exercise if you are ready to hit the re-start button. You may be able to walk away with a relocation incentive but it all depends on your type of loan and details of your situation. In order to move forward with this option make sure you have a plan in place for your relocation. If the home is your primary residence and you decide to move forward with the short sale process, you may be protected under the Mortgage Debt Relief Act- which means the lender cannot come after you for the amount that the sale was $short$ for. 

In the majority of situations the Lender will require the borrower to go through the Modification process first,  if income is an issue they allow the file to move through to the short sale process. There are other options you may exercise to avoid your property being foreclosed but these two options are the best way to go about? But it all depends on the details of your situation. 

Hope you found this helpful and if you would like an evaluation of your situation or are in need of some direction please feel free to email me direct at 

Thursday, November 28, 2013

Happy Giving Thanks

I'm taking the opportunity to give Thanks on this 2013 Holiday. As I sit here typing, my head can't stop wondering off on the people that have made my List and It sure is a big one but I'll keep it short and sweet!

I'm Thankful for my life and I thank God for watching over me - He has a plan for all each and everyone of us and I thank him for the people he has put in my path.
I'm Thankful for my wife and my beautiful daughter - they keep me grounded, laughing, learning and they are my motivation.
I'm Thankful for my brothers, sisters, friends and colleagues - they all make a huge part of who I am today - Thank you for Caring and showing me love.
I'm Thankful for my parents - through them I learned how to work hard, how to stay positive, how to love and how to fight for what you want. Gracias!!!
I'm Thankful for this Blog!!

Thanksgiving comes every year but we need to stay Thankful throughout the year, let's help those we can and be grateful for what we have. If your outlook in life is to make a difference, help change our society and world for the best! it's very necessary that you invest some of your time and energy to make that change possible. I strive to encourage progression, growth through partnerships and mentorship - This blog will allow me to share my knowledge, inspire others and instill bit by bit the Golden Rule of Giving… The possibilities are Endless!

What are you Thankful For?

Here's a Freebie Thanks Giving Postcard - Courtesy of the baby owl Club (Family Oriented Organization)