San Francisco, California (PRWEB) October 7, 2009
Regardless of the current positive news in the California Housing Industry, greater priced genuine estate is anticipated to continue to plummet, according to Hannah Fliegel, credit restoration specialist, who added that the higher unemployment price and lack of customer spending will make the bottom difficult to predict.

Fliegel invites property owners concerned about their existing scenario to a free Mortgage Possibilities Workshop she will chair on Saturday, October 24, 2009, from ten:00 a.m. at the Corte Madera Recreation Center. In addition to Fliegel, guest speakers will include Dan Sturm, Lawyer at Law a specialist in “lien stripping” and David Smadbeck, a realtor who will go over brief sales. Lien stripping is a confirmed approach for borrowers who have massive second mortgages and credit card debt.

Whilst several are focused on the credit crisis, Fliegel sees the amount of debt to be the financial calamity. “We as a society have taken on as well a lot debt. Till this debt works itself via the financial program we will continue to see discomfort,” stated Fliegel.

“What I uncover astonishing is the enormous amounts of strategic defaults in the pipeline,” adds Fliegel. Home owners can make the payment but decide on not to simply because of damaging equity, meaning a mortgage that is bigger than the worth of the home. Property owners preserve saying that their credit will recover more rapidly than the equity in their residence or investment properties.

This is evidenced by recent Fitch reporting that “remedy rates” for prime and ALT A borrowers have fallen collectively to 5.%. This signifies that when most high end borrowers miss a single payment, about 95% of those households are selecting to quit generating payments. These people are selecting to strategically default.

Recently, Meredith Whitney, formerly Chief Economist for Oppenheimer indicated on CNBC, that residence values will continue down another 25% nationally. This translates to a possible 30 – 40% downward spiral in overvalued California residences, especially the higher end residences. It undoubtedly seems to be the case, the decrease priced houses are becoming absorbed swiftly based on affordability and the government sponsored tax credit.

Other choices that will be discussed at the upcoming workshop incorporate: Refinance, Loan Modification, Quick-Refinance, Hybrid Brief Sales, Loan Audits, Deed-in-Lieu, Money for Keys, and much more.

Fliegel counsels home owners and genuine estate investors who are concerned about their credit rating. “There is a little known approach to safeguard a consumer’s credit rating,” adds Fliegel. The borrower need to send the lender a Qualified Written Request prior to defaulting on their mortgage payment. If the lender does report the “late payments” on the consumer’s credit reports the lender need to take away the reported late payments and spend penalties, due the borrower. “The legal method in this country is starting to realize that property owners have been place at threat because of Predatory Lending techniques,” says Fliegel.

R.S.V.P. for the workshop at: 415-927-5072. All attendees will obtain a copy of Fliegel’s new E-Book.

Make contact with: Hannah Fliegel
415-999-9348 Telephone 
http://www.Foreclosureoptionsnetwork.com

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