My thoughts on walking away

For most homeowners, DO THE STRATEGIC DEFAULT and get out ASAP if you are upside down. If you look at your home as an ivnestment "throwing good money after bad is EXACTLY what you are doing"

See your home as an ivnestment and remove the emotional attachement, and, you already know what you should do, just like JP Morgan did for their properties:

www.bloombery.com/apps/news?pid=newsarchive&sidaLYZhnfoXOSk

They refer to is not as a "strategic default", but:
"We are going to give them the properties to get out of the loan obligation"

I am not an attorney, BUT< the numbers are what they are, common sense dictates same.

Question -- how lodng do you think it will take for your home to get back to even, to be worth what you owe?
Common answer in the Washington DC area - 12 years

So, if you owe $500,000, and your home is only worth $300,000, let see:

if you do NOTHING -- 12 years from now if you were to get back on here you will hve zero (nada for my Spanish persons) equity avaialble for you to withdraw

Conversely - if you buy a similar home, for market value today, then do a short sale or strategic default - 12 years from now if you were to get back on here you will have the OPPORTUNITY to pull out $200,000 CASHOLA!!!!

Not a tough decision.....for most homeowners getting out from their upside down property is a VERY smart financial decision, and one most iwll egret NOT doing in the years ahead.

Loan Modification Information

Great link on the new guidelines:

https://www.wachovia.com/misc/0,,2233,00.html

Prediction, loan modifications WILL get harder to complete b/c EVERYONE is now trying them....keep fighting, make it happen!!!!

Countrywide Loan Modifications

GREAT article on Countrywide Loan Modifications:

http://www.thetruthaboutmortgage.com/countrywide-settles-with-colorado-borrowers/

ESCALATE ESCALATE ESCALATE ESCALATE Your Case

This past weekend, a husband and wife in Winchester, VA, with 5 children was SAVED FROM FORECLOSURE with one phone call to the corporate offices of Aurora Mortgage. She had been trying for 4 months on her own to get a loan modification completed. She had been lied to repeatedly and even had a foreclosure auction set for Feb. 27...she had given up all hope when her and I first spoke. One call, that is right, JUST ONE PHONE CALL, to the corporate offices of Aurora Mortgage, and, the loan modification was accepted, foreclosure auction was STOPPED, and she said she was actually in tears when she got off the phone b/c we had helped save her family......that is how we role!!!!!!! www.United-IG.com and Info@United-IG.com

SSUUUUURRREEEE banks want to help modify your loan!!!!

More EVIDENCE of the BS lenders are pulling with homeowners:

http://www.walletpop.com/mortgages/cnnmoney/mortgage-modification-horror-stories

Guys, if you do NOT hire a great company to weed through the non-sense, you too could end up like these poor homeowners noted in th article. ESCALATE ESCALATE ESCALATE ESCALATE!!!! CALL THE CORPROATE OFFICES FOR THESE DUMMIES AND LET THEM HAVE IT!!!! Stop taking it in the shorts from your lender....most actually get paid more money to service your loan when you miss payments!!!

The BS Commeth Forth.....NAR head Finally Comes Out!!

Great story.....keep believing what your ead in the papers......

http://seekingalpha.com/article/114333-the-david-lereah-saga-now-even-more-pathetic?source=email

More BS from lenders......TARP funds encourage losses

I had a long and VERY VERY HEATED with Irene Voeller – 847-864-9253, the TOP TOP dog at Freddie Mac for loss mitigation (I know b/c she was PISSED I got her direct number, feel free to call her anytime).....she has her head so far up her ____ I do not think she will EVER get it out!!!!

After our "debate", and my pointing out how she is going to lose much more money taking back the home versus foreclosing, her response:

"On Well, that is my decision to make...."

After my discussion with Ms. Voeller, I also called into the corporate offices for Freddie Mac about Ms. Voeller's ignorance, and here are the facts:

OUR GOVERNEMENT IS GIVING TARP (bailout) FUNDS TO FREDDIE MAC.....the bigger the losses Freddie can show, the more money Uncle Sam will give them......

SURE DO LOVE ME SOME POLITICS!!!!!