OWN, Suze Orman Money Secrets Revealed: Loan Modifications

By
Real Estate Agent with www.KimAndKristine.com, Santa Monica Real Estate :) 01761439
http://actvra.in/r58

So if you're considering a loan modification on your home in Santa Monica? Watch this video:

Did you watch this show? The show goes on, and Suze recommenced this woman, Dierdre, let her house go to foreclosure. Dierdre is unemployed, underwater in her home, and in a trial period for a loan modification.

You'll hear what happens to your credit when you work toward a loan modification or loan forbearance. If you're in a trial period, that does not mean you will be granted a loan modification. You could owe the difference between your lowered payments and full payments after the trial period. During that trial period, your credit will be affected since your payments are considered short.

If you are missing payments and working toward a loan modification on your home in Santa Monica; Be sure to know what your options are. We have had several homeowners in Santa Monica, North of Montana, and Los Angeles who have received a foreclosure notice in the loan modification process.

Contact Kristine at 310-737-8173 to find out if other options are right for you.

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Rainmaker
661,578
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

I watched a 60 minutes segment where a family bought a house for $200K, and it'd down to $140K -- and they want to walk away because it's the "in thing to do". In the same segment, someone paid over $2M for his house that's barely half a million today. But he's not walking away because he loves his home.

It's hard not to judge....our own homes are worth less than what we paid for it..but we're hanging in there because it's our home!

Loan mods may or may not work.....doesn't hurt to attempt. But if one is turned down, is it acceptable to sim[ly walk away?

Jan 18, 2012 03:46 AM #1
Rainmaker
241,039
Kim & Kristine Halverson
www.KimAndKristine.com, Santa Monica Real Estate :) - Santa Monica, CA
Realtors, Santa Monica Real Estate, CA

Pacita: Homeowners are facing these types of choices everyday.  If it makes sense cut the loss now.  Kristine

Jan 18, 2012 08:46 PM #2
Anonymous
Anonymous
Anonymous

Wow, very interesting post, Kim and Kristine!  Suze Orman usually has some great advice...

Jan 19, 2012 03:40 AM #3
Rainmaker
241,039
Kim & Kristine Halverson
www.KimAndKristine.com, Santa Monica Real Estate :) - Santa Monica, CA
Realtors, Santa Monica Real Estate, CA

Karen:  Thanks!  I agree Suze is now up to date.  She was giving homeowners bad advice last year.

Jan 19, 2012 05:53 PM #4
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Rainmaker
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Kim & Kristine Halverson

Realtors, Santa Monica Real Estate, CA
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