Archive for the ‘Attorney Generals’ Category

Essential Data On The Bank Settlement Update

Sunday, April 29th, 2012

Hello, I am Mike Rigley a licensed default advocate and distressed property expert, one of California’s short sale specialists. Today I want to speak about the current settlement between the 5 largest lenders on the states’ attorney generals. When the entire story broke, it actually seemed like owners were going to finally get a break. The promise of significant principle reduction and loan modifications just isn’t looking so promising.

With right around 11 million householders underwater, and upside down on their mortgage, the program that was once thought to help as much as one million householders now seems like it’s actually going to assist about 500,000. Now, half a million, that’s a big number, but not when you consider it’s lower than 5% of those who really want the help. The other ninety five% are right back where they started; owing extra on their house than what it’s worth and making a payment that’s twice what it would be if they had been renting the same property. To make issues worse, Fannie Mae and Freddie Mac, the federal government backed GSEs who own more than 60% of all mortgages are not participating in the program.

Don’t pin your hopes on the government bailing you out. Like most government programs, this one is lengthy on promise and short on results. In the event you owe more than your house is worth, possibly dealing with foreclosures, or you’re simply uninterested in paying on a house that’s worth half of what you owe on it, give me a call today. Once more, I am Mike Rigley, California’s short sale specialist and my number is 888-317-9376. I’ll provide you with a free, no obligation consultation. We will speak about all of your choices and you can also make one of the best decision for you and your family. Call me today, sleep better tonight, you’ll be glad you did. I’ll see you soon.

For more information on short sales and how to avoid foreclosure, or you can also and get started today.

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