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Linda Robinson
DRE License # 01504805
Solutions to Help Avoid Foreclosure
What is Loss Mitigation?
Loan Modification: process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower
Short sale: seller strikes a deal with their lender to
accept less than they owe on the property, in exchange for avoiding foreclosure.
Deed in Lieu: seller strikes a deal with their lender to
accept the property back, and thereby avoid foreclosure.
Do you want to Keep the House?
Is it a primary residence or investment?
Who is your lender? Who is your investor? Does your lender do loan mods on investment properties? Refinance option?
Your financial circumstances- can you afford repairs, vacancies, negative cash flow.
Do you want to Keep the House?
The property and area - are you upside down? Will it rebound? Vacancies?
Verifiable financial hardship?
Effects on credit and taxes.
Loan Modification
Best success on primary residence
Financial hardship
Financial worksheet
31% of Gross income
Loan Modification cont.
Sustainable loan to bank
Lender forms
Explanation of the process
Trial Mod/ Permanent Mod
Short Sale
Behind on mortgage payments
List property – get offer
Send in short sale package and HUD
Verifiable financial hardship
BPO – appraisal – value
Short Sale (cont.)
Negotiations with lender/ lenders - all liens
- HOA, contractors etc.
Counter offers
Approval – seller contribution? promissory
note?
Deed In Lieu
Property must be listed for 90 days with no
acceptable offer
Must have only one loan
Investor must be willing to accept DIL
Deed In Lieu (cont.)
Verifiable hardship
All financial forms and package
Follow-up weekly
Attorney package sent to you
Why Hire Me?
Years of experience and great track record
Manage entire process and keep it moving
Detail oriented- no surprises at closing
Understand what the lenders want
Keep you informed every step of the way
Why Hire Me?
Best possible outcome
I am service oriented, tenacious, honest and direct, empathetic and I love doing this. I will fight for you in a respectful way with your lender.
Payment due at closing. If you don’t agree to the terms, you don’t owe anything.
I Create Happy Clients Linda,
Thank you for your help the past few months. Trying to short-sell multiple properties in different states with numerous banks involved seemed like an overwhelming task. After hearing you speak I decided to try your services before just letting the properties go into foreclosure. You did an amazing job working with the banks, realtors, property managers, and county employees. You made the whole process easy on my end. After my initial consultation with you, and e-mailing you the necessary documents up front - the whole process seemed effortless (at least for me). I simply had to sign the closing docs, and a large weight was lifted from my mind. The valuable service you provided is greatly appreciated and thanks to you I can sleep easier at night.
Wes H.
I Create Happy Clients Hi Linda, Just wanted to thank you and your husband Alex for the expertise that was provided in the handling of our Arizona short sale. The transaction was completed within 2-3 months time, and took a burden of debt off our shoulders. I highly recommend the use of Linda and Alex Robinson's professional experience in short sales! Steve G. and Mary O.
Questions?
Linda Robinson (619) 222-2543 [email protected]
Marshall Reddick Real Estate and Linda Robinson are here to help you in
any way possible!