Have no choice but to walk away from your home and mortgage?

How to walk away from your mortgage and survive!

Tue, 12 Jul 2022 04:40:31 GMT

How To walk away from your mortgage and survive!

Here we are in the second half of 2022. Just when you thought it was safe. Home prices went up astronomically. But as of right now home values in a majority of states appear to have reached their peak and in many cases a decline is happening already. Now here you are back to where you were few months to a year ago. Still making payments on an unwanted or unmanageable mortgage. You could have used those funds for something that you need or even want.

Or like many unfortunate homeowners you're unemployed. Reduced income. Or an investor or landlord with non paying tenants not just for a few months but since the pandemic started. In forbearance. Trying to figure out how you're gonna come up with all those back payments in one lump sum. And is it worth it? No matter what your situation is. The question remains: How do you walk away and survive? Can you? And not foreclose.

Now there are arguments against walking away from an unwanted or unmanageable mortgage such as on moral or ethical grounds. However most people who walk away believe they have good reason to do so. Things like a sudden reduction in income or just plain losing their job rank in the top. A necessary relocation or out of state move is next. Divorce or significant other separation. Some even tried land lording but the expenses related to the repairs, maintenance, insurance, taxes and dealing with defaults, evictions and tenants from hell have swayed many homeowners from that route. There are many other valid reasons as well.

However all have 2 common problems:

#2. The home cannot be "traditionally" sold NOW, which means the mortgage can't be paid off or satisfied now but in the future. The balance owed on the mortgage is more than the market value of the home. Commonly known as being upside down or underwater. This means negative equity/no equity.

Or their could be some equity in the property. But disposing of the property via a traditional sale and closing would wipe out that equity with standard fee's, realtor commissions and other closing costs and may even have to come to the table with cash to pay the deficiency of in order to sell the house!

#1. You want to stop making mortgage payments NOW. Is there an equity option? Yes! Is there a non equity option? Yes! Homeowners Relief Options. Stop making mortgage payments now. We'll take over and you move on.

Homeowners Relief Options has a mortgage relief program known as the HomeownersRelief Program , a no equity option that helps many home owners who are under water or upside down on their mortgage and home. This mortgage relief option is exactly what it is. An option. Which means it is an alternative, a choice. It may not be a fit for all homeowners looking for a way to get out from paying a mortgage that they can no longer afford or no longer want to pay. Most homeowners feel stuck between a rock and a hard place.

If you are one of these homeowners and you're seeking a way to relieve yourself of your monthly mortgage payments and can't sell your house right now but do not want to foreclose, do not want to be a landlord, don't want repair, maintenance, tax issues, etc. then this is an option for you.

Think of it this way. We manage the home while WE (Homeowners Relief Options) see that the mortgage payments are made via the Homeowners Relief Program. You move on. In exchange for us making sure that your monthly mortgage payments are made, maintaining the property, paying the insurance, paying the taxes, making repairs, handling tenant buyers, and ultimately selling the property which then removes your name from the mortgage, all of which requires our time, effort and money, we ask in return some security.

That security for us is to be named the legal owners of the property we're paying the mortgage on. After all why would we pay a mortgage on a property that we don't have some sort of interest, security or ownership of?

So if you are one of these homeowners who have examined all other options and those options are not feasible financially, then this may be an option or solution to your unwanted or unmanageable mortgage payment and house. Call Homeowners Relief Options. Once we take over...You can then move on.

Download a Mortgage & Home Fact form without any obligation from you at https://www.HomewnersReliefOptions.com . Simply fill out where applicable and either email, fax or mail back to us and we'll contact you within 72 hours and start the process if you decide to move forward. If you have questions or concerns you can read about our > Homeowners Relief Program < here or just send us an email to Info@HomeownersReliefOptions.com or call us at (623) 738-4398.

Read more information at our website here: https://www.HomeownersReliefOptions.com.

We serve nationwide and local homeowners.

by C. Lenett

Homeowner Advisor

Correspondence Address:

Homeowners Relief Options

4926 E McDowell Rd., Suite 104

Phoenix, Arizona 85008

Are you Mortgage Stressed? Mortgage Distressed?

Wed, 06 Jul 2022 00:32:16 GMT

Are you suffering from Mortgage Stress? Leading to Mortgage Distress? And is it a problem for you?

Mortgage stress: Generally when a homeowner’s mortgage repayment is more than 28% of their gross income. For example if you make the average income of these 100 cities of $50,723 per year, the amount of income paid towards monthly mortgage repayments if it was 28 percent of your income would be $1,183.50 on a $265,000 mortgage. Mortgage stress is present throughout the nation, but there are some major U.S. cities that have higher mortgage stress rates than others. Interest costs and the prices of homes are inflating, and salaries and wages are struggling to keep up.

Mortgage Distress: Having trouble making your mortgage payments? Not enough equity in your home to sell and pay off your mortgage? It can be overwhelming… and even more so when you have always paid your bills on time and feel so helpless because of factors outside your control. You are not alone. In spite of the decline in foreclosures, there was no decline in the the number of homeowners who fell behind on their payments.

Okay now that we understand that. What can be done if the mortgage stress or distress is to much for you?
There are many reasons that contribute to additional mortgage distress.

Job loss
Business failure
Mortgage payment increase or adjustment
Divorce or death of a spouse
Illness
Relocation
Reduced income

Solutions for mortgage stress or mortgage distress? Yes there is. The Homeowners Relief Program by Homeowners Relief Options Inc.

Is There An Upside down or Underwater Home and Mortgage Solution, Option or Alternative?

Fri, 01 Jul 2022 05:33:42 GMT

How Can I Get Out Of An Upside down Or Underwater Home And Mortgage?

Is there an upside down or underwater home and mortgage solution? Yes there is. Instead of just simply succumbing to economic default (unintentional foreclosure) or strategic default (intentional foreclosure) or buy & bail where the result will be the same, the Homeowners Relief Program offers homeowners in either mortgage situation, (economic default or strategic default) the ability to get out of the situation and to lessen the impact of either type of default. https://www.homeownersreliefoptions.com/Mortgage-Payments-Relief-Program

Here we are about to enter into the second half of 2020. The current economic environment is unprecedented in our lifetime. Lot's of uncertainty. Many homeowners are intentionally defaulting on mortgage payments known as a strategic default (which is not a good idea because now they are going after these types of defaulters) because of upside down mortgages that they simply can't get out of, not just because they just can't make the payments (for some this is a reality) but because they feel that financially and economically it does not make sense to throw good money after bad. After all why continue to put money in a bad investment? Banks walk away from bad investments all the time. So do Wall street investors. Why can't homeowners? You can. Read on...

Well home owners who are financially savvy are walking away from bad mortgages in droves . Many are willing to take the temporary hit on their credit and simply prepare before they walk away from the mortgage and property attached to it. The banks and lenders are now engaged in campaigns to make these homeowners feel guilty or afraid to walk away from a bad investment.

However it makes sense not to put anymore money into an investment gone bad or cannot give any return at all. You won't go to jail for breaking your mortgage contract. Just like a car repossession it shows up on your credit report and life goes on. (Doesn't mean you should do this though because we have a solution).

The question is, is there a way to walk away from your mortgage without risking your credit or taking the credit hit? Yes there is. The the National Mortgage Relief Program via Homeowners Relief Options Inc.

So there's the question of is this the solution to simply walking away from a bad mortgage situation such as an upside down or underwater mortgage or because of an unforeseen economic situation such as severe reduction of income, unemployment, divorce, etc.?

It may possibly be. Homeowners Relief Options Inc. has been offering homeowners this type of upside down mortgage solution for over 10 years now. Instead of just simply succumbing to economic default (unintentional foreclosure) or strategic default (intentional foreclosure) where the result will be the same, the Homeowners Relief Program offered by Homeowners Relief Options Inc. offers home owners in a bad mortgage situation, (ie: underwater mortgage or upside down mortgage,) the ability to possibly get this situation and to lessen the impact of either type of default.

How do we take over your upside down mortgage payments and you move on?
Okay, taking over the home and mortgage payments. Lenders and banks do not care who pays the mortgage or where the monthly payment comes from just as long as it gets paid. All we ask is simply this, allow us to get authorization from you to send to your lender or bank notifying them that the future monthly payments will be coming from us and to send all notices, request for payments, etc. to us. You'll also be required to sign over the property to our trustee and record the new ownership in your local county recorder's office in your local city where the property is. After all we would like to control the property that we are paying the mortgage on.

It makes sense to at least look at the some of the benefits of the Homeowners Relief Program before simply walking away, foreclosing and taking the credit hit. Why take the credit hit when you don't have to? Even if you are willing to take it and your credit rating is already bad it will give you the time needed to get another home to possibly buy or at least rent for probably much less than you are paying now. (Buy & bail strategy but we'll take it instead). Not to mention the immediate financial relief of having that former mortgage payment stay in your bank account or pockets to do as you please to get yourself some stability financially again.

Why throw good money after bad? Let Homeowner Relief Options Inc. take over that upside down, underwater, unmanageable and unwanted home and mortgage payment. This is what we do. That monthly mortgage will get continue to get paid monthly until we can satisfy the total amount of the mortgage in the future.

We may be able to sell the property when the market conditions allow. Can or will your realtor pay your monthly mortgage note until your house sells? No, but we can, Via the National Mortgage Relief Program . We are private real estate investors. This is what we do. We help take over homes and mortgage payments so people can move on with their lives.

Short sale?
Okay. You have been told that perhaps a short sale of your home is really the best option. It could be, depending on what your game plan is. Of course most realtors (not all) will offer this as the only and best option, however a short sale of your home will have the same credit score impact as if you had a foreclosure. After all realtors need business too. Most realtors will not tell you this upfront but the knowledgeable and honest ones will.

There is a study done by guess who? Fair Issac corporation. That's right the FICO guys themselves. The ones who make credit scores. No opinions just facts. Put together and sourced by FICO.

Their own study showed that there is a minimal difference on a credit score between a short sale and foreclosure. That's right. Those who had a higher credit score had a greater credit drop and even took longer to recover in some cases!

Buy & Bail? Strategic Default? Imminent foreclosure? Want to save your credit, not foreclose but still walk away intact? Call us first.

Homeowners Relief Options. We take over & you move on. 623-738-4398.

https://www.HomeownersReliefOptions.com

Have no choice but to walk away from your home? Call us first!

Thu, 30 Jun 2022 16:34:08 GMT

Have no choice but to walk away from your home? (Strategic Default)

The following posts are responses to an article about walking away from an upside down or underwater mortgage, strategic default and buy & bail. We've helped these people.

The stories are countless...but there is an option at the end of the stories.

Angie • a year ago

I have tried to work with the bank in my small town that I have banked with for 42 yrs. I am upside down on my mortgage. My husband lost his job and had to move 450 miles away. We have tried to sell the house and the banker(my friend for 52 yrs) won't even consider a short sale. I have no choice but to walk away. Homeowners Relief Options. Yup Thank You.

Adrianne Albright • 1 month ago

For those who judge the borrower about walking away, take this into consideration. When my husband and I bought our starter home we were recently married and w/o children. We both had nice paying jobs and could afford our mortgage. We signed an agreement in good faith. 5 years ago we had our second child, Annie, who has cerebral palsy. She is 100% dependent on home care. I quit my job and am a stay at home mother. My husband works 2 jobs to support the 4 of us. He is never home and we are living meagerly. We have also tried over and over again to work something out with the bank but along with getting the run around we are scared to death of losing our home with 2 children. Our home is now worth only $350,000.00 and the value is dropping! Our Mortgage is $475,000.00. We can no longer afford it. We want to downgrade but we can't sell! What are we supposed to do? What other options do we have. We are not bad people just in a bad situation. Thank god for Homeowners Relief Options! They took over and we moved on.

Susan Beltram • 2 years ago

Ok you judge mental people.....I am trying to be responsible. I have had some awful things happen in the last 2 years from health issues to both my husband (he passed due to covid) and I losing jobs due to our employer shutting the doors (covid). Yes my mortgage is good 3.9% but i'm now upside down. Due to credit issues if I refinance it will be at nearly 6%! I am paying $2100 a month for an average home which is way too much of a payment. I have asked repeatedly for a loan modification or anything to help us. The investors wont budge. So what was I supposed to do? Homeowners Relief Options has helped us move on comfortably.

Edward Straughter • 1 month ago

Not sure if many know what has been happening in the mortgage/real estate industry and I'm not sure how common my story is. I looked at a home that was listed for $380,000. I called because the price wasn't listed and the ad stated they would swap homes. I informed the agent that my income would fall short about $8000 a year to qualify for the mortgage. Real estate agent said they would not let $8000 stop us from getting the mortgage. I stated I needed to sell my home. He said no problem, they would get a buyer to purchase my existing home. I stated I had about $20,000 in debt that would make the mortgage unaffordable. The buyer offered to pay $25,000 more for my existing home to help with the debt. My ex was unemployed at the time, so I thought with the extra $25,000 and my ex would get a job, I thought we could swing the $1900 monthly mortgage. Unfortunately my ex did not find a job, we split up, not due to finances. I was unable to sell or rent the home to cover the mortgage, so I was about to walk away and let the home and mortgage go. That's when I searched online and found Homeowners Relief Options! I could not believe that they would actually take over my mortgage payments and I could move on. But they did. I am now sharing this story with everyone. My credit has been in the high 700's all my life and in just a short time it had been ruined. Homeowners Relief Options helped me to move on.

Vernell Brown • 1 month ago

Let me ask all you morally sound folks a question. Why would any business continue to invest money in a failed concept? Throw good money after bad they say? The mortgage is the same. I couldn't refinance nor sell because prices dropped so fast when all these houses hit the market recently. Business personal but a business. No way out amicably except for to make the banks wallet thicker is the absolute worse idea or reason to keep paying on something that's no longer worth what it was. If the banks wanted to sincerely help us folks all would be well. Thank you Homeowners Relief Options for your program!

Doris Miller • 1 month ago

I think the majority real estate professionals are in it for themselves. Heartless, trying to coerce people into buying an overpriced house. FOMO. Fear of missing out. Many drank the koolaide. How many times do you pay for an inspector who tells you your house is fine and then when you sign your name on the dotted line, they give you the keys, and two months later you have just found out you have bought an over priced lemon? During the last go round I have seen landlords burn down their own homes, just so they don't have to pay taxes. Leaving big cities looking like the apocalypse . No one goes after them. The homes remain and there is no penalties. So if I want to bail I'm the bad person? Families who have been duped should have an easier way out of these over priced homes. Thank god for the program from Homeowners Relief Option. They took over and I moved On!

Lisa Carmichael • 2 weeks ago

I was researching options for my family and happened upon this website (Homeowners Relief Options). I in no way can see where not being able to pay your mortgage should be a moral decision. It's financial now.. Choosing to pay it for the month and then shorting my kids on groceries in the house is morally questionable in my opinion. Yes! These are problems and choices people in America are having to deal with today. Inflation, gas prices, recession and the coming depression.

We bought a home in May 2022 and I had so so credit at the time, my husband did not. They put my name first on the loan. His income was two times more than mine. Payment was suppose to stay much lower too. Thanks to them pushing an ARM on us. We have acquired not one new debt since buying our home. My husband still makes good money today but we were surprised with another child and my paycheck vs day care proved to be a waste of my time so I stay home with the baby. Take that and gas prices almost double, grocery prices going incredible high, utility increases, and every other bump in the road life throws at you and we are a sinking ship. We live paycheck to paycheck.

We are one life changing event away from losing our home and don't know what to do to fix it. We have used up all our savings and we can not get ahead in today's economy.

We do not buy expensive things, I do not like to shop, we have one vehicle, which we bought outright two years ago for under $3000, I sold the other one to have Christmas. We can't afford vacations or even a trip to the movies with all three kids. So I really wonder what is the better option here?

We could not predict the future when we bought this home, if we had known we would of walked away then, before purchase. We were living in one before that was very small but it was paid for. Land and all, which was used to help purchase the new house. I've wish I had the old house back now. We're seriously thinking of letting Homeowners Relief Options take over the payments and moving on.

Gerald Hollingsworth • 1 month ago
I bought a home 1 year ago for $400,000 it is now worth $330,000 according to zillow. I got a job transfer and don't even live in the home anymore. I try to rent it out but everyone else in the town is trying to rent as well and I can barely get a fraction of my monthly mortgage payment renting it out. I have a place to stay at my new location with my fiancee. It just makes absolutely no sense to keep paying a worthless mortgage even though I can afford it. Now multiple houses on my block are for sale and two have foreclosed because they drank the koolaide and bought overpriced. Do I have to suffer? BS, maybe the banks can take the hit and but I can't. I'm doing this, sounds like a great idea to me Homeowners Relief Options.

Kane Muhammad • 1 week ago
Market is tanking and you invest in a home. The value of the home was $425k and now $335k and probably dropping as we speak. Banks and the Realtors entice you into taking the home. They tell you it is a great deal!!!! You can refi and pull money out they said. So you get sucked in and buy your first home. 1 year later the homes in the hood are worth only $275k according to several banks who are trying to sell homes they now own. You have a home now worth $335k and dropping, and have no equity and a mortgage plus HOA fee. Bad investment? yes. were you suckered into buying, well yes. You call and the bank won't talk to you unless you lost your job. No deals. Two things, the first, you pay PMI- insurance - protected against default. Second, agreement between the parties say that should you stop making payments the bank gets the home. Why should I not walk away? Businesses would walk away. Contracts are broken all the time when catastrophes strike. I'll take my chances with Homeowners Relief Options mortgage relief program. Thank you.

Christian Hartwell • 6 weeks ago
What you don't consider is the fact that some people are responsible, hard working citizens who get hit with massive amounts of financial turmoil. (inflation, unemployment, recession, coming depression) I have perfect credit but recently ran into several unfortunate situations. My house is a money pit and I have been sinking about $10,000 into repairs annually and the appraisal is $100,000 less than it was when I bought it. Suck it Up? Irresponsible, Loser? I think not. I work almost 60 hours a week I have four college degrees and I'm broke. I also have been mandated by my township to hook up to the city sewer system and that' $20,000.

Homeowners Relief Options here I come!

Alfonso Perry • 2 weeks ago
For all of those who say that walking away from your mortgage debt is stealing: How do you reconcile the fact that most financial institutions who participated in this economic, world wide mess, acted as swindlers and criminals with the most disregard to otherwise-decent and honorable families? Why do financial institutions deserve to keep their reputation and tax-payer-bailed-out business while American families suffer the consequences of a concerted crime? Shouldn't the shame be put on those who concerted this financial mess? Shouldn't those financial institutions be paying back their debt as well, by at least offering refinancing options to homeowners? They got bailed out and they are sitting on that pot of money making it produce more money at the expense of the citizenry. We should be outraged! And if you want to be morally right, start with the immoral perpetrator of a crime. I think I'll walk away the right way though. Gonna call Homeowners Relief Options about that program.

Matt • 1 month ago
I'm was considering strategic default. I bought a small condo outside of Atlanta in October. I did everything right. I saved, put money down, and did a 30 year fixed. My how things have changed. I can still afford it with no problem but I feel the need to leave. Foreclosures are rampant through the community. I owe 390K and some are selling for 310K, 315K, and 320K and these condos are larger than mine. Also the association who takes care of the property is broke and the place is falling apart with no help in site. Realtor's bring people to look but they turn away when they see the shape the property is in. What do I do? I never wanted to be in this situation. Thanks Homeowners Relief Options. I'm Sold!

There are many more and too many to list here. There is an option and alternative to walking away and strategic default however...

It's Homeowners Relief Options via the Homeowners Relief Program .

Helping to provide a solution, option or alternative for homeowners seeking to get out of upside down or underwater mortgages or homes. It's a nationwide program.

https://www.homeownersreliefoptions.com/

C Lennet