Chances are, you or someone you know inthe Minneapolis area is facing the possibility of foreclosure. But you need to understand that you are not alone. Today, nearly 1 out of every 6 homeowners in America is behind on mortgage payments.These are tough and frustrating times. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.
Through my experience handling distressed properties at Coldwell Banker Burnet, I've found that homeowners today have more questions than answers about their circumstances. I have created this site to help you understand the possible solutions to foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for some homeowners.
You may also have noticed that I'm offering you a FREE Report to explain your options and help you decide on a course of action. The idea of losing a home can be overwhelming, and I feel it is vital for you to have all the facts necessary to make an informed decision. As an agent with the CDPE Designation, I have a strong and unique appreciation of the factors affecting the Minneapolis and St. Paul area markets, and know that there are options available to you.
If you would like to know more about your options, please fill out the contact form, or just email me at: Linda@LindaHelps.com . I know that you may be shy about beginning the conversation and that is understandable. Or, you can call me at 612-834-1444.
I am here to help in any way I can.
Linda Johnson, ABR, CRS, CDPE
I'm Not #1...YOU are!
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Homeowners who are behind on payments or are facing challenges in making ends meet so they can make their payments need to be very careful when seeking assistance. Unfortunately, there are many varieties of rescue scams--more than one for each type of challenge a homeowner faces. Please spend some time doing some research so becoming a victim of a scam does not add to your woes. Remember what our fathers told us. "If it sounds too good to be true, it probably is!"
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A federal program aimed at helping homeowners who are struggling with their house payments is named Making Home Affordable. There are two options available with this program-one is to refinance your mortage. The second is called a loan modifiation. You may have heard the term HAMP. This stands for Home Affordable Modification Program.
There are some qualifications that you need to be aware of when applying to take advantage of HAMP. First, the home with the mortgage you are trying to have modified must be your primary residence. You must have orginated the mortgage on it prior to January 1, 2009, and the maximum balance needs to be less than $729,750. The current mortgage payments need to be more than 31% of the gross monthly income, and you will need to show financial hardship such as a rise in the mortgage payments or a reduction in income. There are others, but these are a few of the major criteria.