The distressed mortgage holder has three more advantageous strategy choices other than foreclosure or bankruptcy in actively dealing with their troubled mortgage. With the advent of the REST Report and it’s proven success, a complete consideration will start with the financial aspects of solving the distress.
The three strategies are: mortgage modification, short sale, and most recently, a mortgage principal reduction. If the mortgage is HAMP-eligible, the principal reduction is programmed into the REST 4.0 software. If the mortgage is conventional financing, a separate refinance may be available.
The REST Report uses a standardized and industry recognized Automated Value Model to establish current property value. That is calculated into Net Present Value through a complicated formula that probably no one person knows. Kinda like the college bowl rankings.
The REST Report results in either a mortgage modification or short sale recommendation. Those are the only two beneficial options for homeowner and mortgage investor. Foreclosure only benefits the mortgage servicer.
Do not use your savings to try to live up to your perceived moral obligation on your mortgage. Morality and ethics have no place in considering your financial hardship. Guilt has no place in your economic crisis The nation’s banks got us into this mess. Unfortunately, the individual homeowner is the only person who is going to get themselves out of it.
As of last June, and now with the new Federal Trade Commission’s MARS Rule. the only person who can negotiate your distressed mortgage effectively is you. But the process is simple enough – when you know the rules. This makes a mortgage modification or short sale a do-it-yourself mortgage modification, or do-it-yourself short sale. I’ll show you the rules for free in very short order.
The short sale investor I represent will negotiate a beneficial short sale price NOW that enables you to escape the dreaded mortgage deficiency as much as humanly possible.
Whatever you do, do something. Do not allow this depressed economy to own you. Be proactive. Don’t let the pissants get you. The REST Report puts you back in control of your economic crisis.
I live in an area of the US that has not suffered significant property value loss. But since the REST Report does all the calculations for you, it’s painless. If you disagree with the property value calculated by the REST Report, there are provisions to submit your own value for input and calculation.
Click to read more about your Do-it-Yourself Mortgage Modification REST Report
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Originally posted 2010-01-27 11:31:58. Republished by Blog Post Promoter
{ 3 comments… read them below or add one }
Your blog is very beautiful, can you tell me how to make.
this is a free template from Wordpress – check three column templates for’Free Speech’
Is short sale a bad idea? I’ve heard different opinions but I’m not sure what to believe. Maybe there are just pros and cons to the situation…