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We publish blog articles that gives the nation and the world helpful resources, tips, how to's, trends, and best practices related to housing, foreclosure, real estate, short sales, loan modifications, mortgages, formulas, and so much more.

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Gov. Mortgage Relief Programs End Soon! What’s Next? [My Opinion]

Michael Nolen, Founder, CEO August 10, 2016 at 12:01 PM

Since the collapse of the US housing bubble in 2008, many homeowners have faced the trauma of foreclosure. As an alternative, the government created mortgage assistance programs. While the US housing market has been recovering, many homeowners still find themselves in difficult financial positions. Many are on the verge of delinquency, and some still struggling to get mortgage help.

Is an mortgage help soon to be limited or maybe coming to an end? Is it possible lenders may soon limit loan modification, short sale or deed in lieu of foreclosure programs they offer?

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Tagged Short Sale, Loan Modification, Deed in Lieu of Foreclosure, HAMP, Foreclosure, Making Home Affordable

Hundreds of Mortgage Relief and Debt Relief Operations Banned by FTC

Michael Nolen, Founder, CEO May 26, 2016 at 2:54 PM

On May 25, 2016, attorney's for the FTC's Division of Financial Protection published an announced of the FTC's list of hundreds of companies and people that they put a sequel on their misleading operations.

In this post, we'll share insight about the Federal Trade Commission's publication and some tips for shopping for a mortgage relief or debt relief company.

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Tagged Short Sale, Loan Modification, Deed in Lieu of Foreclosure, Mortgages, Foreclosure, Credit Reporting, Federal Trade Commission

Short Sale VS Deed In Lieu: Which is Really Better?

Michael Nolen, Founder, CEO May 26, 2016 at 9:00 AM

Loan modification denied? What next? When you find out a home loan modification is not an option, you may begin to panic! You get confused, lost, or alone without options. Most get concerned about foreclosure and the F.E.A.R. of a foreclosure sale begins to set in.

So, what are your alternatives to foreclosure? It may be a short sale or deed in lieu! There are many misconceptions about both programs. In light of the myths, I'll help you solve the two primary differences between both programs

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Tagged Short Sale, Deed in Lieu of Foreclosure

Video Guide: Quick Tips to Start a Deed in Lieu Program!

Michael Nolen, Founder, CEO April 21, 2016 at 9:40 AM

You've tried to get a home loan modification and your lender just isn't modifying your loan. Maybe you've listed your home for sale as a short sale and it's not selling. At risk of a foreclosure sale, you want to avoid it and want to know your alternative options.

One of those options may be a Deed in Lieu of Foreclosure. It's not a foreclosure, it's an alternative to avoid it - and it's important to understand initial steps of the process before you get started.

Ready to get start? Great! In this post, I share our video guide covering 4 quick tips that everyone should know before you get started!

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Tagged Short Sale, Deed in Lieu of Foreclosure, Foreclosure

New 2016 FHFA Loan Modification Gives Principal Reduction!

Michael Nolen, Founder, CEO April 20, 2016 at 1:00 PM

The Federal Housing Finance Agency (FHFA) announced on April 14, 2016 new Freddie Mac and Fannie Mae loan modification guidelines for mortgages owned or guaranteed by Freddie Mac or Fannie Mae.

This one time Freddie Mac and Fannie Mae loan modification program gives eligible borrowers a principal reduction on their underwater loan and a last opportunity to avoid foreclosure before government programs expire in 2016.

In this post, I share details about this new principal reduction modification program.

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Tagged Short Sale, Loan Modification, Deed in Lieu of Foreclosure

Disabled Woment Fights for Loan Modification in Salisbury, MD!

Michael Nolen, Founder, CEO April 19, 2016 at 3:57 PM

On Monday, April 19th, Michael Nolen of Delmarva Home Relief was contacted by the Daily Times for an article about a disabled women in Salisbury, MD fighting to keep her home and information about foreclosures in Maryland and the home loan modification process. 

Many homeowners still are having trouble getting through the process. You can read more about Salisbury, MD resident, Joana Weaver and here fight to keep the only home she has ever known and ever wants to know in this blog post.

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Tagged Short Sale, Loan Modification, Deed in Lieu of Foreclosure, Salisbury MD Real Estate, Maryland Foreclosure Process

Loan Modification Before Short Sale: 5 Things You Need to Know!

Michael Nolen, Founder, CEO April 5, 2016 at 1:00 PM

Many homeowners don’t realize that before applying for a short sale, you may need to apply for a loan modification. You may not have any choice depending on your mortgage investor, financial hardship, and a variety of other factors. If you, your real estate agent, or negotiator ignores it, you could add a few extra months to your review.

In this post, I’ll explain the 5 most common reasons a homeowner may be reviewed for a home retention option before a non retention option, and best practices to prepare for a mortgage assistance application and avoiding common delays.

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Tagged Loss Mitigation, Short Sale, Loan Modification, Foreclosure Alternatives

6 Typical Closing Costs When Buying a Short Sale

Michael Nolen, Founder, CEO March 31, 2016 at 1:00 PM

There are a lot of misconceptions about how much a mortgage lender will pay to help cover a buyers costs to close when buying a short sale property. Many first time home buyers may need help covering some of the costs at settlement. The last thing you want to do is make an offer proposing that a lender pay some of the fees at closing and have it rejected or reduced.

To help you be better prepared to make an offer with your real estate agent, I’ll share some of the typical closing cost incentives a seller's mortgage lender may agree to pay to a buyer.

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Tagged Short Sale, Buying a Home, Foreclosure Alternatives, Buying a Short Sale

What is a Loan Forbearance with a Real Estate Short Sale? [FAQ]

Michael Nolen, Founder, CEO March 31, 2016 at 9:00 AM

It’s possible for a mortgage lender to propose a loan forbearance agreement to a homeowner applying for a short sale. A loan forbearance in a home loan modification is different than an agreement you could get in a real estate short sale. But, just like any agreement arranged with a mortgage lender, there are terms and conditions.

In this post, I’ll explain some common types of loan forbearance agreements and possible incentives a mortgage lender could offer when selling your home for less than the full mortgage balance.

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Tagged Loss Mitigation, Short Sale, Foreclosure Alternatives

10 Questions to Ask About a Short Sale Agreement! [Free Guide]

Michael Nolen, Founder, CEO March 22, 2016 at 1:00 PM

A short sale is when you sell your home for less than the total mortgage debt. If you’re thinking of selling your home as a short sale, you’ll need to apply with your lender, or get a Realtor® or short sale negotiator to apply for you.

If approved, your lender will give you an agreement that lists all of the terms they’ll agree to, and the incentives that could be offered.

In this post, I’ll share 10 important questions you should ask before signing a short sale agreement.

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Tagged Short Sale, Foreclosure Alternatives

Short Sale VS Foreclosure: Which Is Really Better?

Michael Nolen, Founder, CEO March 14, 2016 at 4:27 PM

When you fall behind on your mortgage, your lender could foreclose on your home. As an alternative, you may be able to work with your lender to sell your home. If you owe more on your mortgage than your home is worth, your lender may agree to sell your home for less than the remaining mortgage balance. 

In this post, I’ll share the difference of selling your home and settling your debt, compared to letting your lender foreclose on your home.

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Tagged Short Sale, Foreclosure, Foreclosure Alternatives, Short Sale VS Foreclosure

8 Facts About Tax Consequences of Short Sale Programs

Michael Nolen, Founder, CEO March 10, 2016 at 1:00 PM

Let's look at a hypothetical: You're interested in selling your home - But, you owe more on your mortgage than your home is worth. You ask your lender to accept a sale price at or around market value. They accept! They decide to forgive your remaining mortgage debt. After the sale, you find out you may have income tax consequences. What do you do?

You're in luck! In this post, I’ll discuss the 8 most important facts about settling your mortgage debt - and the top things you need to know about tax conseqences of short sale programs.

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Tagged Short Sale, Selling Your Home

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