Did you try to get a refinance or loan modification before March 1, 2009, and got turned down? DON’T GIVE UP! Try again by checking out the new “Making Home Affordable” program!

President Obama’s plan (click on link for more information) for helping homeowners is now active, and he is actually PAYING THE LENDERS to work with you!

Plus, if you are accepted for a loan modification and you pay on time every month, you can get a piece of the stimulus package, too - taken directly off of your loan balance!

The program has two options: the Home Affordable Refinance plan and the Home Affordable Loan Modification plan.

You could be getting a second chance to get today’s lower mortgage rates or a more stable home loan! The Refinance Program is for people who are current on their mortgage payments, but have been at a disadvantage due to market conditions. The basics:

• You must have an existing mortgage owned by Fannie Mae or Freddie Mac.
• You must have a solid payment history on that mortgage.
• Your mortgage must be on a one- to four-unit home.
• The balance on your first mortgage cannot exceed 105% of the current market value of your home.
• Your modification process must be closed before June 10, 2010.

Click here for more information about Home Affordable Refinance.

If you’re in financial trouble, you could be getting help, too! The Loan Modification program is for people who are already behind on their mortgage payments or are on the verge of falling behind. In this case, your mortgage doesn’t have to be with Fannie Mae or Freddie Mac. The basics:

• Your first mortgage must have been originated on or before January 1, 2009. (Only a first mortgage is eligible for refinancing.)
• Your mortgage must be on a one- to four-unit home that you live in.
• You must have a mortgage payment that is more than 31% of your gross income.
• You must sign an affidavit of financial hardship.
• Your loan servicer must be the one to tell you if you qualify - not all servicers are working with this program!
• Your modification process must be closed before December 31, 2012.

Click here for more information about Home Affordable Loan Modification (start reading about this on page 5 of their PDF).

Do you remember terms like “100% Financing”, “80/20 Loan”, or “Stated Income Loan” or “No Doc Loans”?

If you acquired a subprime loan, Adjustable Rate Mortgage (ARM) and/or a home equity line of credit any time during the past four to five years, around 70% of you probably have some type of FRAUD or “irregularity” in your loan process or paperwork.

If you have already unsuccessfully tried to refinance, modify your loan, or apply for government assistance, this option may be perfect for you. This is an opportunity for loan modification, but not because you qualify for anything.

In a forensic loan audit, an attorney will dig into the fine print of your original home loan to discover if there were any legal violations anywhere in the paperwork. If your lender broke the law, the attorney can aggressively use that as leverage to encourage them to modify your loan - this time, in your favor!

At TLM, we work with the only reputable law firm in the area which will perform the entire loan audit without charging fees up front - and they will work with you on the cost.

With these modifications, our attorneys have a success rate of 70-88%!!

Click here for more information on how a forensic loan modification may help you.

If you are current on your mortgage - or close to it - and you have been turned down for a refinance or a loan modification, you may have another option.

Consider renting your house and using the rent to pay down your mortgage until the market turns around. Even if your mortgage is $1000 per month and you can only rent your house for $800 per month, isn’t that better than having to come up with the entire payment yourself?

This option involves some creative thinking on your part about who will live where, but it has worked well for some people!

Contact us today for a free consultation on what is best for YOU!

Should you borrow from your 401K or your IRA to pay your bills?

If you’re still young, you’re making money, and you have a few years to replenish the retirement account, that may be a different story.

If your home is in trouble and you have some serious money saved, you have to weigh the lesser of two evils. Homeowners with over $30K in retirement accounts rarely get approved for a short sale or a loan modification. Meanwhile, foreclosure will damage your credit report, which could affect that promotion or that new job you want.

Can you see yourself in this scenario? Bite the bullet and borrow from yourself to pay down or pay off the mortgage before you lose your home and your good credit!!!

At TLM, we always encourage you to ask your accountant about all of the options we present.

Don’t be ashamed to call us. We’ve been there! DON’T GIVE UP and let your home foreclose because you are too stressed out or too embarrassed to tell anyone. We still have some great options for you!

In this economy, short sales are the new frontier in foreclosure rescue missions! Believe it or not, a short sale is also your lender’s preferred choice over foreclosure.



This option is the fastest way for you to walk away from your home and avoid foreclosure… and it DOESN’T COST YOU A DIME UP FRONT!!!

A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property. The lender or Mortgagee has to take the homeowner through an approval process because a short sale involves selling the property at a discount, and that isn’t how they like to do business.

What are the advantages to a lender approving a short sale? Simple! They are able to recover more in a short sale than they would through the long and expensive foreclosure legal process. A lender has to spend big bucks retaining a law firm to pursue foreclosure action. In most states, the lender may have to wait up to 90 days or longer before they regain the property. Once they foreclose, the property is then put back on the market with the added costs of having to pay legal fees, real estate commissions, utilities and maintenance on the property. Their costs begin to mount up from the time they initiate foreclosure proceedings through the time it resells in a declining market. In today's market, the lender starts losing money from the day they homeowner defaults on payments through the day it resells as an REO/Bank owned property. They can lose as much as 70% of the original loan value (based upon the property's condition) if they foreclosure while they wait months and sometimes more than a year to sell the property. Whereas the short sale process will help them recover as much as 95% of the current market value of the home in addition to saving them tens of thousands of dollars by avoiding the foreclosure process.

For the homeowner, the advantages include avoidance of having a foreclosure on their credit history and the ability to obtain a new mortgage in as little as 24 months.

Here are some of the reasons that homeowners have been approved for a short sale:

• Turned down for loan modification
• Approved for loan modification but unable to maintain payments
• Unreasonable adjustment on adjustable rate mortgage
• Unemployment
• Divorce
• Medical emergency
• Bankruptcy
• Death
• Emergency major repairs are needed to keep the home habitable, but funds are not available
• No assets available to help make payments

Do you want to find out if you qualify for us to buy your property and/or negotiate the short sale of your home? CLICK HERE to apply now, or call us at 615-417-8300 TODAY!

Click here to learn more about short sales. You can also read about why most real estate agents either refuse to represent short sales or fail to sell their short sale listings in our report, “Why Agents Can’t Close Short Sale Listings!”

Sometimes the lender will just let you sign the deed back over to them and then hand the keys back and walk away. In today’s real estate market with lenders suffering heavy losses, they want to recover as much of the loan as possible. We haven’t found a lender, yet, who will consider a Deed In Lieu of Foreclosure transaction BEFORE you attempt to Short Sale your home.

CLICK HERE TO APPLY & LET US HELP YOU DISCOVER YOUR BEST OPTIONS TO AVOIDING FORECLOSURE!

Read these two reports and learn more about it!