Helping Atlanta Avoid Foreclosure with Savvier Realty

09/08/2020

If you’ve built up equity in your home, tapping into it with a cash out refinance could net you the lump sum you need! Call today to discuss refinancing possibilities -- 404.333.8685!

03/27/2020

👏 DO 👏 NOT 👏 SKIP 👏 YOUR 👏 MORTGAGE 👏 PAYMENT! 😳

It's due April 1st, just like every other month. It's late on the 15th, just like every other month. Late fees will add up and it will be reported to the credit bureaus on the 31st day, like usual...

If you don't pay it, two payments will be due May 1st and three payments will be due June 1st. If you don't have one payment now, will you have three in June? Cause you know what happens? They may start the foreclosure process (inhouse, virus or no virus!). There are currently no legit measures in place to protect you unless you use your options!

Here are your options.

1. If you have a job and your rate is over 4% you could refinance and legally skip a payment (or two if timed right!). Why not lower your rate, extend or shorten your term and lower your payment in the process? Or consolidate your debts with that lower interest rate or get some cash out? We've all got equity within these walls. If you need it, let's see about using some of it.

2. If you don't have a job and have a genuine need, CALL YOUR LOAN SERVICER AND ASK FOR HELP! They will help where they can but it typically requires the use of a loan modification, forbearance, partial claim or other options. If you don't have income this may be hard to qualify for but it can be done with patience!

Be informed! Don't just stop paying! Banks aren't protected and they may not protect you. Call me at 404.333.8685 if you have any questions at all!

Caroline Simmons
Loan Officer
NEXA Mortgage, LLC
404.333.8685
[email protected]
www.MyMortgageMatchmaker.com

11/14/2019

Just across Clayton, Cobb, Dekalb, Fulton and Gwinnett, there are over 675 homes scheduled to foreclose on December 5, 2019.

Let my team help you, a family member, friend or co-worker resolve your foreclosure situation. We help with loan modifications, refinance opportunities and marketing the property for sale.

Give me a call to see which solution is right for you at 404.333.8685.

08/15/2019

Georgia foreclosure have increase, up 22% from this same time in 2018. No one should lose their home to foreclosure. ESPECIALLY when many of these homes have equity in them.

We are Helping Atlanta Avoid Foreclosure everyday! Give our team a call at 404-692-2447 or send an email to [email protected].

You have options -- Refinance, Partial Claim, Forbearance, Loan Modification, Chapter 13, Short Sale, even a Traditional Equity Sale and many more.

"At the local level, a slightly different picture emerges. In 42% of local markets, foreclosure starts increased from the same time period in 2018. Miami had the largest increase (up 32%) followed by Tampa-St. Petersburg, Fla., Atlanta, Washington, D.C., and Denver. Similarly, 16 states had year-over-year increases in foreclosure starts, including Mississippi (up 56%), Florida (up 28%), Georgia (up 22%) and Arkansas (up 21%)."

Link:

Two-fifths of local markets across the U.S. experienced an uptick in foreclosure starts during the first half of 2019.

07/28/2019

The Ability to Repay rule placed additional pressure on lenders to ensure borrowers have a reasonable chance of being able to pay off their loans. The rule, also known as the Qualified Mortgage standard, is aimed at preventing predatory lending, and protects lenders who make qualified loans from borrower lawsuits.

Nearly the entire mortgage market now operates either under Dodd-Frank’s qualified mortgage standards, or under the expiring provision, known as the “Government Sponsored Enterprise Patch,” or GSE Patch. The GSE Patch extends liability protection to certain mortgages that would otherwise not meet qualified mortgage standards, with the goal of ensuring credit access to more borrowers. The CFPB says it intends to let the GSE Patch expire as scheduled, no later than January 10th of 2021.

The expiration of the so-called GSE Patch could slash credit access for some borrowers.

07/28/2019

The Ability to Repay rule placed additional pressure on lenders to ensure borrowers have a reasonable chance of being able to pay off their loans. The rule, also known as the Qualified Mortgage standard, is aimed at preventing predatory lending, and protects lenders who make qualified loans from borrower lawsuits.

Nearly the entire mortgage market now operates either under Dodd-Frank’s qualified mortgage standards, or under the expiring provision, known as the “Government Sponsored Enterprise Patch,” or GSE Patch. The GSE Patch extends liability protection to certain mortgages that would otherwise not meet qualified mortgage standards, with the goal of ensuring credit access to more borrowers. The CFPB says it intends to let the GSE Patch expire as scheduled, no later than January 10th of 2021.

07/27/2019

Congresswoman Maxine Waters (D-CA), chair of the House Committee on Financial Services, introduced legislation that would help prevent foreclosures for borrowers with Federal Housing Administration (FHA) mortgages by strengthening requirements for and increasing oversight of FHA mortgage servicers so that every homebuyer with an FHA mortgage is given a fair chance at avoiding foreclosure.

The FHA Foreclosure Prevention Act of 2019 (H.R. 3958) would require the Department of Housing and Urban Development to increase its oversight of FHA mortgage lenders in an effort to strengthen compliance with the FHA’s loss mitigation requirements.

This bill would also establish a robust complaint and appeals process to provide borrowers the ability to adequately voice their concerns about unfair treatment. Ultimately, this bill seeks to ensure that FHA borrowers have a fair opportunity to become current after defaulting on their loan.

Congresswoman Maxine Waters (D-CA), chair of the House Committee on Financial Services, introduced legislation that would help prevent foreclosures for borrowers with Federal Housing Administration (FHA) mortgages by strengthening requirements for and increasing oversight of FHA mortgage servicers s...

07/27/2019

REVERSE MORTGAGES: In a stealth aftershock of the Great Recession, nearly 100,000 loans that allowed senior citizens to tap into their home equity have failed, blindsiding elderly borrowers and their families and dragging down property values in their neighborhoods.

Urban African American neighborhoods are hardest hit as nearly 100,000 loans have failed.

07/27/2019

Just last week, Bank of America filed a motion in bankruptcy court objecting to Ditech Holding’s sale of its reverse mortgage business, claiming that the current deal threatens to abandon elderly borrowers.

Now, New York’s attorney general is weighing in, filing her own brief in court expressing her objection to Ditech’s bankruptcy plan on the grounds that it promises to strip homeowners of their rights.

The office of Attorney General Letitia James filed a brief this week to oppose the servicer’s attempt to get around statutory protections for homeowners through its bankruptcy plan.

The brief states said Ditech has more than 880 foreclosure actions pending in New York alone, which include 642 forward and 239 reverse mortgages, and that the current deal threatens to sweep these homeowners’ claims and defenses under the rug.

“A free and clear sale of the Debtors’ mortgage assets would erase the key defenses of homeowners in the foreclosure process, defenses that may be necessary to save their homes,” the brief states.

As the battle over Ditech's bankruptcy and subsequent sale of its mortgage channels rages on, New York’s top legal officer is weighing in. Attorney General Letitia James filed a brief in court this week expressing her objection to Ditech’s bankruptcy plan on the grounds that it fails to protect ...

05/22/2019

The rate of Atlanta Foreclosure Filings have declined 36.8% in April over March and 20.9% from this time 2018. Improvements are happening. Let's keep up the momentum!

CoreLogic’s latest Loan Performance Insights report found that the amount of mortgages that were...