1. Hope Against Hope
Free Workshop

2. Free Workshop
When you owe more on your house than its worth… and don’t know what to do about it…
When you can’t afford the payments you have… and don’t know what to do about it…
When you just want to know what’s going on with your home today… and what to do about it…

3. The Truth

4. 1 out of every 34 families are in Foreclosure = 361,000 Filings
In California
1 out of every 34 families are in Foreclosure =
361,000 Filings
First 6 months of 09
(Nationally 14% in Default)

5. According to the OCC (Office of Controller of the Currency statistics)
Loans modified in the 1st half of 2008:
36% had re-defaulted in30 days
56% after 6 months
58% after 8 months

6. Option 1: Staying The Course

7. Option 2: Loan Modification

8. What is a Loan Modification?
When your lender modifies the terms of your existing loan

9. The Benefits: Get to keep the house (markets cycle)
Lower Payments to Affordable
Principle Reduction

10. What Must You Have?

11. What Must You Have?
Hardship demonstrated by a letter & financial documents
Your package- “Insider Secrets”
Ability to repayunder new terms

12. Obama’s Program Making Home Affordable

13. 1st Mortgage P.I.T.I
Gross Income x 31%

14. #1 Factor
Surplus vs. Deficiencies
Ideal DTI: 5-10% (- or +)

15. Obama’s Program Expanded
Foreclosurealternative program

16. The Two Part Conversation

17. Option 3: Short Sale

18. What is the Cost?
Intended
VS.
Unintended

19. Intended:
Customary Cost of a RealEstate Transaction (Commissions, Escrow, Title, Transfer Taxs Etc.)
Your lender is “paying for the sale” (at their discretion)

20. Unintended Cost: Tax Liability Special Provision: Mortgage Debt
Forgiveness Act 2007

21. The Reality Success Rates: National Average 10-20%
CDPE Average: 70-80%

22. The Difference? A Winning Formula

23. Top 5 Benefits of a Short Sale

24. Top 5 Benefits of a Short Sale
Future Purchasing Power
Fannie Mae / Freddie MacGuidelines 2 Year
Credit History
Tax Break - MDFA 2007
Current / Future Employment
Credibility

25. Your Next Best Steps

26. Next Workshop Sacramento 2/25 12:00 - 1:00PM Online 3/16 7:00 - 8:00PM
Santa Clara 3/25 6:00 - 8:00PM