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New Ruling Helps Upside Down and Defaulting Home Owners

Thursday, March 29, 2012   /   by Barbara Schlinker

New Ruling Helps Upside Down and Defaulting Home Owners

As an expert in the default industry, I have the priviledge of helping people who fall behind or are upside down on thier mortgage. The good news is that it does NOT mean they will have the sheriff pounding on thier door right away to move. I've heard it from a Senior Vice President of Bank of America that they do NOT want homeowners to foreclosure. The banks are making every effort to help borrowers with all the many options. Those options include: repayment plans, loan modifications and even refinance opportunities to stay on your home. We offer free services to help home owners in trouble with their options.

The five major banks just struck a deal with 49 of the 50 states that sued them over the 'robo-signning' debacle in which they would spend billions helping defaulting AND upside down borrowers. Yes, even if you are not behind they have help for you now. It also, in many cases does NOT matter how far upside down you are. Once of the BEST provisions of that agreement was they are NOT allowed to require our active duty veterans to fall behind on thier mortgage to be eligible for loan modifcations. Many of our military could have security clearances which could compromise their jobs, yet the banks were demanding the upside down borrowers to be at least 90 days behind to be eligible for a loan modification. Thankfully that is no longer true. Our military with their requirement to move around so often deserve the best of what the banks can offer in this housing decline.

If you would like more information on how the new agreement can help you, please call or email me Barb at -877-457-5544 or email me ColoradoBarb@gmail.com

About the Author: Barb Schlinker is the owner of Parker St Claire LLC, Certified Default Advocate, CDPE, Short Sale Expert
Parker St. Claire Realty
Barbara Schlinker
7660 Goddard St, Suite 213
Colorado Springs, CO 80920
877-457-5544

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