by ForeclosureFish.com
Although we have been familiar with the problem of inflated appraisals for some time, the trend seems to be growing worse by the day. More and more clients who call us have been the victims of over-inflated appraisals. When the illegal appraisal is discovered, it is usually too late by then to hold anyone accountable, especially if the homeowner is now in foreclosure. Saving the home is the top priority – anything else comes after that.

Why do appraisers inflate appraisals? The main reason is money: the appraiser gives the loan officer whatever value is needed for a loan, so the loan officer will use the appraiser again and again, inflating the value of numerous properties. But when the homeowners attempt to refinance, if they use a different mortgage company, the legitimate appraiser will value the property at its actual (not inflated) value. This may cause a significant decrease in value, sometimes to the point where a client owes more on the mortgage than what the property is worth. Obviously, this can cause significant problems. {continued}

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by William Brister
Unforeseen and unexpected problems like a loss of a job, medical emergency, accidents death etc. can alter our lives completely leading to dire financial crisis. It may tend to disrupt our schedule of regular and monthly payments involving credit card bills, home loans etc. While the inability to pay credit card bills may only hurt our credit rating, not paying home loans can lead to foreclosure of our home.

If such a situation does arise call your mortgage company right away and avoid home foreclosure. Do not wait till it is too late; the longer you wait, the greater are your chances of losing your home and to stopping foreclosure. Your options to retain ownership of your home are most effective early, when you have missed only few payments behind. A mortgage company will be able to provide you with temporary financial relief by giving you respite through different alternatives listed below:   {continued}

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 by Steve Gillman
If you are buying your first home, there are people who will help you get into all types of trouble. Well, mostly it is one type of trouble: financial. Here are some examples.

Watch Out For Real Estate Agents

You might think that real estate agents would love first-time home buyers, since they can influence them and make a sale more easily. In reality, though, many people are very hesitant to make a decision when they buy their first home. It will be the single biggest purchase they have made in their lives, after all, so they want to take their time and see a lot of houses. Meanwhile, the agent just wants a sale.

Don’t be pushed to make a fast decision. It may be true that a particular house is “not going to last long,” or it may just be something an agent says. Either way, their are other homes, and you need time to get a feel for what is available and at what prices. This education is crucial, and comes primarily from looking at a lot of homes.  {continued}

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by Jayden Adams
If you are currently in foreclosure, then you must take action now to resolve the situation. Depending on your particular situation, you may be able to receive mortgage default assistance, either from your lender or from a professional mortgage default assistance company. However, you should first ask yourself the question of what it is that you are trying to accomplish. Can you afford the mortgage payment? Is it in your best interest to keep the home? If so, then start from there. Or would you be better off trying to sell the home?

Let’s take a look at the first question. What are you trying to accomplish? If keeping the home is your main goal, then let’s take a look at your options. After all, before bothering to contact a mortgage default assistance firm, you should first learn your options. When it comes to keeping the home, you’ll need to do an analysis of your budget to prove that you can indeed afford the mortgage payment. This amount needs to include your property taxes and insurance. Are those costs escrowed, meaning part of your mortgage payment, or do you pay them separately? {continued}.

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by David Zwierecki
When is the right time to buy a home? Is now the right time? Should you wait a little longer to see if the real estate market continues it’s downward spiral? Should you buy a foreclosed home? How much should you bid on a home right now? Read on to find out the answers to these questions…

Right now there are a lot of homes up for sale and not nearly enough buyers to buy up all of these homes. This is one of the top signs that we are currently in a buyers market. When there are too many homes for sale and not enough buyers, most of the time sellers are willing to go above and beyond to try and sell their homes. This may mean that they are willing to sell it for under market value and accept a significantly lower sales price than they would like to, they may be willing to offer incentives such as furniture or home repair store gift certificates, car leases, and much more. Therefore, now is definitely a good time to start looking for a new home if you have been considering purchasing a home.  {continued}

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