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We Acquire Over Mortgaged Properties!
(We now offer a possible nationwide alternative to this program which can be found at:
Owe to much and need relief?
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Do you owe more than your property is worth? We will acquire your property for what you owe on it! This is not a short sale
or a loan modification.
Yes, we do acquire properties where more is owed that the current value.
We can work with your primary property, rentals, multi units, land developments, commercial properties, just about any
property that is over encumbered.
What to do when you owe more than your house is worth?
You have many options if you owe more than your house worth. But, not all of the options
available to you are good and you may be surprised at the good one.
Some of the options available are:
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Short sale your home
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Let the bank take it (foreclosure)
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Deed in lieu of foreclosure (simply give it to the bank)
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Lease it to someone else and hope the buy it some day (while you pay the difference to the bank)
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Work a mortgage settlement with the bank first (difficult, but quite possible)
*** or ***
Simply let us acquire your property for what you owe! We can take an unwanted property off your hands. It will show
"paid in full"
on your credit report.
The Choice is always yours!
Acquiring your over mortgaged property!
If you do not want your property anymore, read on.
Why wait for months to short sale a property, then complete the short sale, only to find out that you are now
being sued by your lender for the difference. If not sued, you will be sent a 1099 and owe the IRS back taxes. 23 states allow this!
In a short sale, your credit is damaged. Why let this happen, when we can acquire the home for what you owe
and possible save your credit, maybe even improve it.
In some states, while waiting for the short sale to happen, you may get foreclosed on. There is nothing
that prevents a lender from foreclosing on your home, even if it is a listed short sale.
A real estate agent friend of mine had a short sale property in escrow, buyer was just finishing the new loan when
she noticed her "For Sale" sign was on the ground and a new Real Estate Brokerage sign was up. She contacted the listing
agent. That was the first time she found out the property was foreclosed and listed with another Real Estate Brokerage.
I know of a couple families that were attempting to get a Loan Modification. In both cases, their lender told them
they needed to stop making payments in order to qualify. While in the Loan Modification process, getting the temporary modification
status, they were foreclosed on and had to move out. They could have kept making the payments, but followed the lenders
instructions and are now out of a home.
If you are ready to get out from under your property, we can acquire it and relieve you of it. We
will have our attorneys work a settlement with the lender. This settlement will include showing the mortgage as satisfied on
your credit, not as a short sale.
There are several steps we use to accomplish the acquisition of your property. All of them work towards
clearing you of this home and letting us own it.
The next several paragraphs will describe the basic process we use to accomplish this. If you would like
skip this part and have the information packet, just click the "go to form" link below. The information packet describes the
process in terms of an owner keeping the home. The difference is; we are doing the process at our expense. All
references to a fee can be ignored, since we are paying those fees. If, after reading the entire process, you find you would like to
retain your property, you will need to pay the fee. This will be determined before we start. Also, note, that everything
from here to the end of this page is described, in detail, in the information packet.
Go to Form
How the Mortgage Amelioration program fits in
T
he fundamental principal under which we work is the "educated supposition" that
many, many of the real estate loans created in the last twenty-five years or so were, at least in part, predatory in nature and fraught
with myriad of blatant illegalities, errors and omissions in their construction and execution.
We find as well that many of the documents (which purport to secure these alleged loans
with ownership in your real estate) have been lost or destroyed.
During the examination phase of the Mortgage Amelioration Program, we generally discover
that no "loan" was actually made by the originating lender. We find instead that your signature and supposed obligation to pay was in
fact sold for a large profit well before your "loan" documents were presented to you.
Since the mortgage inception, your alleged mortgage was most likely sold and re-sold
several times, then fractionalized into small increments and used to securitize international stock market purchases (mostly by foreign
investors, who, at the time, had an exaggerated faith in US real estate, but who long since have
accepted their losses
in the stock market).
We will use the Mortgage Amelioration program to remove the current lender and put our own lien on the property.
At this point you will see the mortgage satisfied status on your credit report. Depending on the success of our attorneys, you may even find the entire mortgage has been removed from your credit
report
In order to due this we will need to ask you to put us in a position to accomplish all of our goals. The
next couple of paragraphs will describe the process, in the simplest form, as how we do this. You can skip this too.
Go to Form
The process, simplified
All the information that we send to you will contain the more specific details.
In the simplest form, we will ask you to place the property into
an Title Holding Beneficiary-Directed, Third Party Land Trust. You (and your spouse, if on title) will
be the sole beneficiary. The trusteeship at that time will be assigned to Equity Holding Corporation of Midpines California, a bonded,
licensed, non-profit third-party corporate trustee, who holds title to many millions of dollars worth of real estate
in trusts across the US since 1997.
If you desire to remain in the home until we complete our process, you will be asked to execute a "Triple Net
Occupancy" agreement. This agreement states you will remain and care for the property until we have finished our process. If you are not making payments at the
conception of this process, you may continue living without making payments. We highly recommend that you continue to occupied this property, but the choice is completely
yours.
The next documents to be executed are the Assignment of Beneficiary Interest and the Beneficiary Agreement (the
latter being somewhat analogous to a Partnership Agreement in that it explains each beneficiary's respective benefits and responsibilities relative to the property and
the trust).
Once this process is complete, we have our attorneys start working on a settlement with the lender.
We want to talk
to you
When you fill out this form, we will send you an E-Mail with our contact information on it and the information we will need to send you a
full price offer. Once you have that, you can either send back the rest of the necessary property information and your contact information
or contact us directly to complete the offer. If the property information is complete, you will get the introduction and offer from us, otherwise, we will call to clear up
missing information. Now, you will be able to make a complete and informed decision.
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