***
BEFORE YOU WALK AWAY ***
HOME
STUDY COURSE
What Every California
Homeowner MUST
Know About "Strategic Defaults"
Our
office has been receiving numerous requests lately on the subject
of ...
"STRATEGIC
DEFAULT"
| A
strategic default is when a borrower stops
paying on a loan obligation, not because they can't afford
to pay it, but because they decide it no longer makes economic
sense. Usually, this is because their home is worth so much
less than the balance due on their loan that they fear they
are simply throwing good money after bad. |
| Can
You Relate? |
Here's
one actual e-mail I received recently (sender's name withheld)
that perhaps best illustrates the dilemma that many of you are
facing:
| Dear
Jeff,
We
spoke a few weeks ago. I am paying my mortgage, but would
probably like to do a "STRATEGIC DEFAULT" beginning
in the near future. Would you be able to counsel me through
the process?
There
are issues such as sending the appropriate "do not
call" letters, how to handle the "various letters"
I get in the mail, how to "best protect myself"
from liability (i.e., the foreclosure paperwork would hopefully
fall into the one action rule zone rather than a deficiency
judgment), etc.
I
have tried the modification route and a short sell sounds
like a nightmare as well. It seems as though the strategic
default is my best bet as I have to do something. I am under
water (25%).
With
no hope on the horizon and no help from the lender in site,
can you help me?
I
am looking at how to best proceed and definitely would like
professional support.
Sincerely,
Client
Name (Withheld) |
You've
tried the modification route and you're fed up with the runaround,
the delays, the repeated requests for the same documents you've
already given, the constant turnover in new agents, hanging on
the phone for hours waiting for the right person, telling the
same story over and over.
A
short sale doesn't sound any better. A months-long process where
any buyer that may be interested today could disappear by the
time your lender approves the sale...if the lender approves the
sale. And brokers hate them because it means more work for less
money and more uncertainty. You're at your wit's end.
No
wonder the "strategic default" is probably the hottest
topic among real estate owners and investors right now. It's all
over the TV news and newspapers.
The
Problems
There
are two big problems with the media hype and coverage so far.
First, most of it focuses on the "morality" angle of
this "exit strategy" (asking the rhetorical question
"is walking away from your mortgage immoral?").
But
this isn't a philosophy class. This is your life.
The
stakes are high and it's dangerous to make this crucial decision
based on emotion. As the Wall St. Journal wrote last week: "increasing
numbers of homeowners are abandoning their nests for... emotional-and
sometimes irrational-reasons. It turns out that many of
the Americans defaulting on their mortgages are doing so out of
anger, fear or despair rather than making a purely sensible
decision about their best financial interests ..." (emphasis
added).
You're
an investor. You're accustomed to analyzing your real estate investments
and making big decisions-when to buy, when to sell, when to hold
'em, when to fold 'em-rationally. This is your single
most important decision about perhaps your single biggest financial
investment. Now, more than ever, it's important you make
this decision based on a clear understanding of the legal and
financial consequences of "walking away" so you can
finally break your cycle of indecision and decide what makes the
most sense for you.
Second,
the media tends to discuss this issue superficially,
in just a few minutes and soundbites and on a broad, national
level. But you must understand the unique legal consequencesunder
California law for defaulting on your home loan. Those
consequences can be extremely severe. You need a full understanding
of those consequences before you "just walk away".
Third,
it's all so confusing.
The
Solution
Order this highly informative, educational HOME STUDY COURSE where
you can finally sort through all the confusion and clutter.
You can finally get the answers you need to make your
decision. You can feel confident that your all-important
decision is well-reasoned.
This
HOME STUDY COURSE is designed to give you the unbiased information,
tools and understanding you need to make an informed decision
and one that's right for you. A decision that could
cost or save you hundreds of thousands of dollars and literally
change your life (for better or for worse). It will not
try to talk you into or out of doing a strategic default.
Here
is just some of
what you will learn:
Here's
what you will learn in this information-packed HOME STUDY COURSE:
| 1.
What exactly is a "strategic default"? |
| 2.
Why the pressure driving your strategic default decision will
likely get much worse before it gets better, when that pressure
may start to subside, and what impact that has on your decision-making
process. |
| 3.
The single most important question you must answer before
you decide to strategically default on your loan...and how
to get that answer before this webinar is over. |
| 4.
The minimum "upside-down" loan to value ratio you
should be at before you waste time even considering a strategic
default. |
| 5.
The other options you should consider before pulling the trigger
on the "doomsday" strategic default. |
| 6.
A detailed, understandable discussion of what federal and
California loan modification programs can help you today (including
a discussion of HAMP, HAFA and principal reduction possibilities). |
| 7.
Is that light at the end of the tunnel or an oncoming train?:
What California and federal programs are "on the horizon",
when will they be available and how to determine if they will
help or hurt you if you can hang on for "a little longer". |
| 8.
What happens if you change your mind after you strategically
default-what can you do and when is it "too late"? |
| 9.
How to compare the pros and cons of a strategic default and
a short sale. |
| 10.
How to compare the pros and cons of a strategic default and
a deed in lieu of foreclosure. |
| 11.
The "right" way to do a strategic default. |
| 12.
How long you expect to be able to stay in your home once you
stop paying your mortgage. |
| 13.
Under California law, what a lender can and cannot do to you
(including a discussion of the "one-action rule",
deficiency law and whether your lender can come after you
after you default). |
| 14.
Can lenders automatically take your assets or is there a legal
proceeding? |
| 15.
Do you have a defense to a deficiency judgment? |
| 16.
How does the lender collect on the judgment? |
| 17.
Are lenders going after deficiency judgments? |
| 18.
What impact a strategic default will have on your credit. |
| 19.
How long it will take to repair your credit. |
| 20.
Future Shock: The impact of a strategic default on your ability
to get credit cards and loans in the future. |
| 21.
Doing the Math: How to crunch the numbers and figure out whether
you're better off financially by walking away or staying put. |
| 22.
The federal and California state tax implications of a strategic
default. |
| 23.
How those tax consequences compare to the federal and California
state tax consequences of a foreclosure, a short sale, and
a deed in lieu. |
| 24.
What to tell the bank when they call. |
| 25.
Under California law, how your situation changes if you have
multiple loans on your property. |
| 26.
How much you can save by renting, taking into account the
loss of any tax deduction on your mortgage interest. |
| 27.
Your risk of being having your bank sell its rights to pursue
its claims against you to a collection agency. |
| 28.
How long until you can buy a house again. |
| 29.
How to stop your lender from harassing you. |
| 30.
How to repair your credit as quickly as possible. |
| 31.
Whether you should also strategically default on your property
taxes or homeowners' association dues. |
| 32.
The impact a strategic default could have on your other existing
loans. |
| 33.
How to tell if your loan is "recourse" or "non-recourse"
and what's the difference? |
| 34.
What special rules apply to you if you're in the military. |
| 35.
The "deadbeat" dilemma: How to analyze rationally
the "moral" and "ethical" issues involved,
including your "responsibility" to your community,
your neighbors and the country, and keep it all in perspective
as you make this critical decision. |
| 36.
Your fast-track to recovery: How to maximize your profits
when you rent. |
What
Are People Saying?*
It's
not enough to just read about a training course like this one;
you have to hear how it actually works when applied to real-life
situations. Here's what others are saying about this home study
course and training information:
| "I
have been struggling with the decision on what to do with
the two investment properties which are "cash eating
alligators". The webminars helped me to put the pieces
of the puzzle together when analyzing the legal, tax and
credit report issues/consequences involved in making the
best decision.
The
information I received during the webminar and the answers
to my questions specifically, was exactly what I needed.
The cost of the webminar was a tiny fraction of the expenses
I would have incurred if I sought advice (in three different
areas: legal, tax, credit) from each professional individually.
I finally felt like I moved the burden off my shoulders.
Thank
you!"
Natasha
Pederson, Foster City, CA
"Your webinar is the only guidance we have gotten that
put all aspects and consequences into one package. Now,
we believe we have the necessary tools to make a decision
on our unique situation."
Scott and Kim R. of San Ramon
"Comprehensive,
understandable, and usable content."
Jean-Marc Landau
“Very informative and presented in a clear easy to follow
format.”
Deb
Miller, San Francisco, CA
“An
informative and balanced presentation -- takes emotion out
of the decision to default and let you decide based on the
numbers and facts.”
Nick,
San Ramon, CA
“It
was a relief to know that my circumstances are not unique
(owning an investment property which is severely underwater,
but not having an obvious financial hardship) and that considering
a "strategic default" is a viable alternative.”
Carolyn
Lacy, Lafayette, CA
“The
quality and thoroughness of the material covered is quite
exceptional and well worth the small fee that I had to pay.
I came away feeling more focused than before with a much
better idea of the pitfalls and need to really get expert
help instead of assuming that I know it already.”
L.K.,
Windsor, CA
“The
Webinar presenters not only stated the facts of Strategic
Foreclosures, but also gave their opinions and examples
of how they play out in the real world.”
Bob
Berry, Novato, CA |
Home
Study Course Content Details
The
first three hours are 100% content, jam-packed with strategies,
checklists, formulas and action plans to help you make your decision.
The fourth hour will be answers to questions that were posed by
actual attendees.
Your
Only Investment
Tap
into all this training, Q&A session and
all these bonuses for just $247,
of which some (or all) of this fee may be tax deductible. So,
do consult your tax adviser to make sure.
Your
BONUSES
For Buying Today!
| BONUS
#1 |
All
who buy today get our "D.I.Y.
Mortgage Relief System" for FREE! (Retail
Value: $247). |
| |
|
| BONUS
#2 |
A
"Do Not Call" letter form that complies with the
Fair Debt Collection Practices Act! (Retail Value:
$100) |
| |
|
| BONUS
#3 |
Free
one-on-one consult with a lawyer to address your specific
questions (up to 15 minutes)! (Retail Value: $100) |
If
you were going to get these professionals on a conference call
for this length of time to get this same information, it would
cost you thousands of dollars. Your decision, whatever it is,
will save or cost you hundreds of thousands of dollars.
Here's
How To Order!
Sincerely,
