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(EMAILWIRE.COM, February 27, 2008 ) Detroit, MI--Nationally, much of the blame for the current housing downturn has been placed on easy access mortgages that targeted many consumers who are now unable to pay.
Although clearly the market is going down, the foreclosure issue is far more complicated to some. Industry insiders who make their living from mortgages say some statistics are multiplies by a factor of 2 to the number of foreclosures recorded. A state level mortgage executive claims that federal government is “double dipping” the numbers by counting second mortgages, using an inconsistent sample population from year to year, and counting all the different phases of a foreclosure as new filings. The point is well taken, clearly complicating the issue.
More than 5 percent of American homeowners are delinquent in their payments, a jump of three-quarters of a percentage point from last year, and the numbers are staggering. However, several options have surfaced to aid the troubled homeowner. One choice of particular interest is the pre-foreclosure sale, which allows you to sell your home and pay off your mortgage before a foreclosure, thereby preventing damage to your credit rating.
Not your typical real estate investor, pre-foreclosure specialist Jeff Kaller, advises, “Home owners need to know what terms they have, the pre-foreclosure investor wants to assist in finding the best option for the plan…the majority of lenders don't want to foreclose.” This could be a clear indication for many homeowners facing a possible foreclosure to pull out their mortgage documents and double-check the terms.
Nationwide, foreclosures continue to be on a steady rise; 36 percent from last summer with an eight-month total of 244,000 foreclosed homes, an increase of 115 percent from last year. Currently, foreclosures are soaring in Maryland, and many of the loans that homeowners are defaulting on are interest-only loans where no principal is paid, for which the interest-only periods have recently ended. Many other borrowers took out adjustable-rate mortgages (ARMs) over the past two years, and now the low initial payment period of the ARMS has ended. In both cases, borrowers are finding themselves equally trapped with higher interest rates that translate into significantly increased monthly mortgage payments that could go even higher. “Government officials are steadily trying to develop ways to assist strapped families, now that the housing boom the nation experienced over the past five years has declined,” said real estate investor and pre-foreclosure investor Jeff Kaller.
Jeff Kaller is the leading short sale and pre-foreclosure expert nation wide. “His students have really done well in our Michigan Market. If they do well in Michigan’s depressed real estate market you know Jeff Kaller is doing a great job of teaching the short sale business,” says Mark Maupin. You can find great value from his workshops and his free reports and CD's. Check out his workshops- Jeff is doing them all over the country http://www.jeffsworkshop.com/
Contact Information:
Paramount Promotions LLC (The Countries Leading Short Sale Trainer)
Mark Maupin
303-B Anastasia Blvd. #148
St. Augustine, FL 32080
904-819-0676
Email Address: mgeronimo@thejeffkaller.com
Mr. Pre-Foreclosure
Mark Maupin
248-939-6232
maupin.mark@gmail.com 
Source: EmailWire.com
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