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Break Free From Unaffordable Mortgage Payments!

by The Pilgrim Team

 

Break Free From Unaffordable Home Financing Payments!

A recent study in Nevada (a state that holds the nation’s highest Foreclosure rate), found that only 5% of distressed homeowners knew they had alternatives to foreclosure, and only 3% took advantage of them. It was also found the 1 in 4 homeowners chose to “strategically default,” or allow their Homes for sale in york pa to be foreclosed upon on purpose!

The Realtors Association of York and Adams County (RAYAC) and the local Multiple List Service report for York County that there are currently 3236 (Active) properties on the market as of May 24th, 2011.  There are 371 Short Sales included in that total, and there have been 276 Bank Owned Properties that have closed or are pending settlement and 260 properties have sold since January 1st. These numbers represent 536 total distressed properties or 27% of the properties sold.

Clearly, too few distressed homeowners know their options and the fallout of foreclosure. If they did, they’d soon realize that there’s nothing ‘strategic’ about foreclosure, and that avoiding foreclosure is always the best plan to create financial stability.

Millions of Americans feel alone and trapped by Home Financing payments they can no longer afford. In fact, 27% of Americans with Home Loans now owe more than what their home is worth. However, more and more of them are finding education on the responsible alternatives to foreclosure is helping them move toward financial stability.

Education is key. The more distressed homeowners know about solutions, the more likely they are to overcome their financial challenges. I’ve seen this firsthand.

I can help with the education part—it’s up to you to contact Jerry Pilgrim Broker/Owner of Pilgrim Team of Professional Realty Asscociates.

 

 

 

 

Fannie Mae and Strategic Defaults

by The Pilgrim Team

FANNIE MAE HAS COME UP WITH NEW STRATEGY ON HANDLING STRATEGIC DEFAULTS

Homeowners across the country and here in York, PA are hearing about the so called advantages of walking away form their financial obligation (Home Financing) on their home. Fannie mae has decided that they will not take this lightly when a homeowner has the ability to pay their mortgage, yet deciides not to. Fannie Mae announced they will not allow a homeowner to be eligible for a Fannie Mae backed loan for at least 7 years. They also have said that if a state that allows a deficiency judgement (Pennsylvania does) they will do just that. Fannie Mae is letting homeowners know they will not take this lightly and pursue a claim against these homwowners.

Think twice about how this can adversely affect their ability to get new credit and also could cause an potential or even a existing employer to hire or retain that person due to the Foreclosure and judgement on the credit report.

 

What a Certified Distressed Property Expert (CDPE) Offers

by The Pilgrim Team

What can Jerry Pilgrim, a CDPEAdvanced member, offer to homeowners in distress?

“I am a member of the CDPEAdvanced program. You may have heard of CDPEs or Certified

Distressed Property Experts before. We are agents who have committed to understanding and

providing Foreclosure avoidance solutions to homeowners facing financial hardship.

Being a real estate agent today means something different than perhaps a few years ago.

Today, around 15 percent of Home Loans are delinquent, or not being paid. That means one in six

homeowners you meet may be experiencing the same challenges you are. So the first thing you

should know is that you’re not alone, and that there are millions of others across the country

in your situation.

As a CDPEAdvanced member, I’m part of the charge to turn this crisis around by immersing

myself in the solutions available to distressed homeowners. And my goal is to bring the best

option to each individual homeowner.

CDPEAdvanced gives me access to regular industry updates from the Distressed Property

Institute, a company created by real estate leaders with the specific purpose of pulling as many

homeowners out of distress as possible.

I also have access to a network of top agents nationwide who are also dealing with distressed

properties. This is a powerful tool. It lets me find out what is happening on the front lines, what

banks and buyers are looking for, which foreclosure avoidance tactics are working and which

ones aren’t.

Between the market analysis and the network of agent communication, I can offer you the

most current, relevant solutions.

This housing market has become such a moving target that anyone who isn’t taking extra steps

to keep up will simply get left behind. My clients need to know all the options available to them,

and that is what I can deliver. This is why I am a CDPEAdvanced member.”

Find out more by visting www.PilgrimTeam.com or visit www.StopYorkForeclosures.com

Strategic Foreclosures?

by The Pilgrim Team

Recently there has been some talk about "strategic foreclosures". Unfortunately there have been some individuals promoting to people who are in financial distress and don't know where to turn when they have fallen behind in their Home Financing payments. They have taken the stand that it is O.K. to just walk away and never look behind them for the consequences that come with such a move.

Just last week Good Morning America had a special about walking away form your commitment. The analogy they used was that if it is good enough for corporate America to do so, it is O.K. for the average homeowner too. It was totally irresponsible reporting and they should be taken to task to promote such a terrible injustice to the public. They did not mention what consequences there are to individuals who actually must work and maintain households, credit ratings and personal reputations if they allow a Foreclosure to happen. Obviously they did not realize or even care that with that type of reporting people could be jeopardizing their financial futures including holding on to the job they currently have or a job in the future. Corporations don't have to think about those things as it not part of the business world. So yes, corporations do that sometimes but with different consequences.

Please don't consider a Strategic Foreclosure as you might not be happy what you may end up with. Call me today for a confidential interview and we can set the record straight and get you on the right financial path.

Foreclosures in York PA

by Jerry

Home buyers looking for great deals on Homes for sale in york pa that are bank owned (REO'S) or short sales can contact us for the latest property listings that we can pull from other bank sites as they come on the market or even before they go to Foreclosure. We would be happy to provide home buyers looking for foreclosures in York County PA. Contact us today for the list! Check us out at: http://www.yorkpabankowned.com/

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Photo of The Pilgrim Team Real Estate
The Pilgrim Team
Professional Realty Associates
2002 S Queen St, Suite 3
York PA 17403
Office: 717-757-5955
717-755-2683
Fax: 717-757-2887