Are your property's payments driving you to the poor house?

Are maintenance and tenant hassles destroying your mental health?

Maybe you even owe more than the property is worth!

Month after month, spending money on mortgage payments, taxes, insurance, repairs, etc that you can’t afford to spend, causing misery and unhappiness at home.

Many people "Consolidated their debt" in the go-go atmosphere of low interest rates and booming economy. Remember, "125% equity loans, no equity needed!?"

Well now the chickens are coming home to roost, and they are pissed. Personal bankruptcies are at an all time high. Mortgage delinquencies are climbing. Dot Bombs are exploding, leading the way in layoffs and downsizing. Even Old Economy companies are joining the layoff craze. And don't forget Enron!

We know, we’ve seen it all before in many years of real estate investing in good times and bad. We have discovered a solution to your problem. If your situation qualifies, we are going to enable you to end the nightmare. The hundreds or thousands of dollars your property is taking from you monthly, will now go in to your pocket. You will never have to fix another toilet or take another call from a tenant in this property!

Let’s first analyze your current situation; whether you have a lot of equity or no equity in your property, you're having trouble selling it, a shower of money going down the drain each month.

What are some of your options?

SELLING THE PROPERTY

Even if you are not up against it, a conventional sale of your property can cost you 20% of the selling price or more. Here's how:

Distressed sellers are generally forced to discount their property 20-30% to make a quick sale. Then, what if your buyer cannot qualify for a mortgage and you have to start all over? More mortgage payments at least, possibly tying your property up in expensive, time-eating litigation.

If you have little or no equity, real estate brokers will be reluctant to list your property once they find out you may not clear enough from the sale to pay their commission. This means you will have to sell the property yourself.

Finding a buyer is a long, frustrating experience, when you have little equity. You have to get your asking price, or put in some of your own money to close the sale. You have no room to negotiate, no matter how qualified or attractive the buyer is. Once you’ve found one, the game is still not over.

You hold your breath waiting to see if the property appraises as high as your buyer needs for the mortgage.

Next, you cross your fingers that he can meet the bank’s financial and credit qualifications to get the mortgage. All the while, your life is on hold and you are shelling out more and more money.

After all of this, you still may have to bring money to the closing table because the sale did not produce enough cash to cover all of the costs.

You could simply mail the keys to the bank and walk away! (Deed-in-lieu of foreclosure).

Perhaps you can talk the bank into compromising and accepting less than you owe on the mortgage in connection with a sale. (Short sale, or offer-in-compromise)

Or, you may struggle till the bitter end, chasing one false hope after another with the bank finally foreclosing on you.

Any of these last three options will leave you in worse shape than you were in before!

If you walk away from the property or if the bank takes it, it will probably not recover all the money it is owed from the sale of the property, especially after the bank piles on every fee, penalty and cost it can think of.

Properties sold at forced sales rarely are sold for full value. In that case, the bank could come after you with a court ordered "deficiency judgment." This is the difference between what was owed on the property and what it sold for at auction.

Now, in addition to a foreclosure and a judgment on your credit report, the bank will be able to attack any and all other assets you may own! How about garnisheeing your salary, or seizing your bank accounts, or snatching your car or boat, your stock portfolio, etc, etc.

Sometimes, properties are sold at suspiciously low prices to insiders (smell a deficiency judgment?) at these auctions and sometimes there are no bids at all.

Sometimes the bank takes the property back. Their costs keep mounting. They incur administrative costs, refurbishing costs holding costs, costs of maintenance, repair, management and legal costs, closing costs, broker’s commissions, etc, etc. When they finally do dispose of the property, they will come after you with a deficiency judgment for the shortfall and additional expenses.

If the deficiency judgment is large enough, you may have to declare bankruptcy to escape it. Talk about going from the frying pan into the fire.

Unfortunately, there’s more. If you do not pay the deficiency and the bank writes it off, (which also happens in a short sale), the IRS will make you pay income tax on the unpaid amount. This is also what happens if you live in a State that does not allow deficiency judgments.

That’s because the IRS considers this "forgiven" debt income. The tax on this deficiency is due in cash by the next April 15th. You may be forced to enter a payment plan with the IRS with bigger monthly payments than you were paying on the property!

WE CAN SOLVE YOUR PROBLEM, IMMEDIATELY!

Go to Offer Form NOW in order to find out how we can help you resolve this situation right now!