Prepared Exclusively for Foreclosure Customers

Solving the foreclosure crisisone homeowner at a time. 1M

Your First Steps to..4"oi~ ~ot&eclo~Ufa.~

Drew CorbettKeller Williams Preferred Properties240-737-5000drewsmyrealtor@gmail.comwww.drewsmyrealtor.com9701 Apollo Dr. Ste 101 Upper Marlboro, MD 20774

Drew CorbettKeller Williams Preferred Properties240-737-5000drewsmyrealtor@gmail.comwww.drewsmyrealtor.com9701 Apollo Dr. Ste 101 Upper Marlboro, MD 20774

••In today's market, chances are you or someone you know is having trouble makingthe mortgage payment each month. Facing the possibility of foreclosure is anoverwhelming reality for homeowners already feeling the pressure of an upside-down mortgage.

If this is your situation, understand you are not alone. Millionsof homeownersnationwide are in the same circumstances.

However, more than 70% of these homeowners proceedwithout seeking assistance and without getting the facts.Many do not realize that foreclosure is a process, and there is timeto make decisions that may result in a better outcome. Havingthe motivation to take action, and finding a professional who canwork with you toward a solution, can ease this frustration.

So where should you start?

First, you need to know your situation. Even if a bank has started procedures to rpossess yourhome, it doesn't mean that you're out of time or options. The foreclosure process is generallylengthy, so there is time to analyze your next steps. Yourfirst steps should inclu e:

Congratulations ... you've already succeeded in taking your first step by dow~loading thisreport. Youare proactive about finding a solution, and the answers to many of y ur questionsare right here.

Be wary of any rescue scams or mediators that promise a quick resolution to a pendingforeclosure in exchange for upfront fees. A reputable counselor will not guar tee to stopthe foreclosure process, no matter the circumstances. Lookfor the COPElogo li e the one onthis report to ensure that agent has undergone extensive training in the foreclos re avoidanceoptions available to homeowners. COPE-designated agents, like me, have the educationand resources to provide solutions.

Step 1. Take Action

Step 2. Contact an Educated Agent

Your Company Disclaimer Here ..

()2009 Distressed Property Institute, lie AURight<Reserved.The above brokerage assumes no responsibility nor guarantees the accuri\Cf of this information and is not engaged in the practice of law nor gives legal advice.It Is strongly recommended that you seek appropriate professional counsel regardtng your rights as a homeowner.

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Drew CorbettKeller Williams Preferred Properties240-737-5000drewsmyrealtor@gmail.comwww.drewsmyrealtor.com9701 Apollo Dr. Ste 101 Upper Marlboro, MD 20774

'11/18/09. Washington Post, "Counseling Helps Borrowers Avoid Foreclosure, Study Finds"

The Washington Post reported on a recent study that found,"Troubled homeowners who receive housing counseling are60% more likely to avoid foreclosure and have theirmortgage payments lowered significantly than borrowers whonavigate the process themselves.":

Prepare by gathering your personal information in an organized fashion. No matterwhich option you choose, the process can be expedited significantly if these materialsare assembled before hand:

• Checking Account Statements• Recent Mortgage Statements• SavingsAccount Statements• Your Last Two Paycheck Stubs• Your Past Two Tax Returns• A Letter of Hardship

I can assist you in organizing and understanding this process and ensure you have all thenecessary information.

Step 3. Organize Your Personal Documents Ii Information

Step 4. Contact Your Lender

Contact your lender as soon as possible to discuss the appropriate solu Ions to yourcircumstances. Lenderswant to avoid the foreclosure processjust asmuch as omeowners.They are not in the real estate business, do not wish to take ownership of a orne, and donot want a house to sit idle on the market. Recently, some have even insti·. ted furtheroptions to help homeowners avoid foreclosure.Remember to keep your agent, or me if you choose to contact me, informed 0 any decisionyou make so they can take action after taLkswith your Lender.

Your Company Disclaimer Here .

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.,2009 Distressed Property Institute. LLC All Rights Reserved.The above brokerage assumes no responsioility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice.It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner.

Drew CorbettKellerWilliamsPreferred Properties240-737-5000drewsmyrealtor@gmail.comwww.drewsmyrealtor.com9701 Apollo Dr. Ste 101 Upper Marlboro, MD20774

Step 5. Understand All Your OptionsFollowing are a few foreclosure avoidance optionsthat may be the best solution for your particularsituation.

A short sale is a dignified alterative toforeclosure, allowing a homeowner who owesmore on their property than it is currentlyworth, to sell their property at a price lowerthan what is owed.

Your Company Disdaimer Here.

C>2009Distressed Property Institute, LtC AU Rights Reserved.The above brokerage assumes no responsibility nor guarantees the accuracy of this infonnation and is not engaged in the practice of law nor gives legal advice.It is strongly recommended that you seek appropriate professional counsel regarding your Fights as a homeowner. I

••The U.S. Treasury recentlyannounced new incentives,timelines and procedures forshort sales. The Horne AffordableForeclosure Alternatives Program(HAFA) simplifies short salesprocedures by setting limitson the time it takes lendersto respond, freeing borrowersfrom debt and capping claims ofsubordinate henholders.

As a CDPE-designared agent,I have the most current

information on thi;; programand participating lenders.

A deed-in-lieu allows the homeowner to returnthe property to the lender rather than go throughthe foreclosure process.

A forbearance or repayment plan involves thehomeowner negotiating with the mortgagecompany to allow them to repay back-paymentsover a period of time. •••.iiiiiiiiiiiiiiii~iiiiiiiiiiii

• Amortgage modification involves the reduction of one of the following: the 'interest rateon the loan, the principal balance of the loan, the term of the loan, or any. combinationof these, for a more affordable mortgage.

Renting the property can also be an option, if a homeowner who has a mortg age paymentlow enough can convert their property to a rental and use the rental income to paythe mortgage.

Bankruptcy is only a 'foreclosure solution' in some states and situations, but stillremains a challenging financial decision.

A mortgage refinance can be an option if a homeowner has sufficient equity in theirproperty and their credit is still in good standing.

The Servicemembers Civil Relief Act was implemented to help members of the militaryexperiencing financial distress due to deployment. Contact me for more inf mnation.

The sale of a property can be accomplished if a homeowner has sufficient equity and aqualified agent who understands the current market. If you don't have e uity, a shortsale may be a good option.

While this represents only a summary of some of theoptions available, it is important for youto understandall of them to find the best solution for you. Page 4

••Congratulations again! You've already gotten started by reading this report. Contact metoday and let's get you back on the path to financial security. .

Many homeowners are facing uncertainty and do not know where to turn, orwhat to do next for themselves and their families. Despite all attempts to holdon, the foreclosure process can be a slippery slope if not handled c:orrectly.Now more than ever, you need to prepare yourself to navigate the mistakesthat are most commonly made.

Ibelieve every homeowner deserves the best information and education to avoidlosing a home to foreclosure and damaging credit for years to come. If you arestruggling to pay the mortgage and unsure of what to do next, understandingthese options-especially short sales-can ease your stress and potentially saveyou from an impending foreclosure. Deciding on which route will be best foryou and your family's future is the most important decision you can make.Please use this information to better understand the options available. As aCOPE,I have been trained to assist homeowners in these difficult situations. IfI can provide you with more information or assistance, please don't hesitateto contact me.

Drew CorbettKeller Williams Preferred Properties240-737-5000drewsmyrealtor@gmail.comwww.drewsmyrealtor.com9701 Apollo Dr. Ste 101 Upper Marlboro, MD 20774

Drew CorbettKeller Williams Preferred Properties240-737-5000drewsmyrealtor@gmail.comwww.drewsmyrealtor.com9701 Apollo Dr. Ste 101 Upper Marlboro, MD 20774

Step 6. Action!

I

Your Company Disclaimer Here.

e>2009 Distressed Property Institute, llC All Rights Reserved.The above brokerage assumes no responsibility nor guarantees the accuracy of this infonnation and is not engaged in the practice of law nor gives legal advice.It is strongly recommended that you seek appropriate professiooal counsel regarding your rights as a homeowner.

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