1. A single man who’d lost time at work due to an extensive injury had fallen three months behind on this mortgage and was getting threatening letters.  We’ve cut his interest rate in half and stopped the phone calls and mail.
2. A large family that had had multiple job losses, but is back on their feet financially, is getting their payments cut by about $500 a month.  That’s enough that they’ll be able to stay in their home and start making headway on some of their credit card bills.
3. A great young couple in North Kansas City has an adjustable mortgage and no way to refinance out of it, because of a toxic combination of impaired credit and lowered property values. We’re working with their lender to reset their loan back down to what it was before it started adjusting, which will open up about $280 a month.
4. Another family in eastern Jackson County had some severe health issues, with the result that one of the income earners will never work more than half-time again.  We’ve stopped foreclosure and will cut their mortgage bill by $340 a month.
5. A single mom had her cash reserves wiped out by a sudden health issue, which her health insurance did not cover.  We’re stopping the foreclosure and cutting her bills by $301 a month.

These are just some of the real people in the Kansas City area we’ve been able to help in the short time our branch has been open.   If you’ve had a hardship that has put your ability to pay your mortgage in danger, and if you’re currently employed, we want to talk to you to see what we can do.  Call us today at 888-536-0334 for a ten-minute free prequalification.

In my own opinion, this is caused by two factors: one is that the modifications granted haven’t been deep enough, and lenders have been relying on temporary modifications, not permanent ones.

This story is not good news for lenders, and if I know big companies, their answer will be do more of the same, except faster and harder.

That means it’s also not good news for homeowners, who will be put through a much tougher microscope than they were before.

That’s why Sunwest provides such an important service.  We know what lenders will be looking for.  We know how to present your story and make sure that you get a permanent modification that you can afford over the long haul.

Get the best deal possible by calling us at 888-536-0334 right now for a free and short consultation.

Short-selling (selling your house for less than you owe) isn’t always a bad idea.  Should you short-sell or should you modify your loan?

If you’re having trouble paying your mortgage, here are a few good ways to know if you should short-sell your property or work with Sunwest to modify your loan:

1. Do I love my home? For some people, it’s just a house — some walls and some paint.  For other people, this is your home, where you have all your special memories.  If you want to leave the house and move on, then you might want to short-sell. But if you want to fight to keep your home, you should work with  Sunwest.
2. Do I like my neighborhood? You might like your home, but hate your neighborhood. Life is too short to live some place you hate.  If you’re happy in your neighborhood, work with Sunwest to modify your loan, and stay at home.  If your neighbors make you unhappy, short-sell and start fresh somewhere else.
3. Will I be happy living in an apartment? Once you short-sell, you’re going to be a renter.  You might find a nice house to rent, but you may very well end up in an apartment.  Are you ready to go back to apartment living?  Are you ready to live by a landlord’s rules instead of your own?  If you want to keep your independence, work with Sunwest to modify your loan.
4. Do I want to rebuild my credit? Short-selling is not as bad as a foreclosure, but it’s close.  That mark is going to follow you for years on your credit report, and it’s going to make future home loans and other types of credit hard to obtain for years down the road.  Insurance companies, car dealerships, and even future employers will see your short-sell if they obtain a credit report and use that to make a decision about doing business with you.

Short-selling is not guaranteed.  It takes months to find a buyer and conclude the negotiations with a lender.  There are some real advantages to short-selling, but there are real consequences too.  Think carefully about what you want before making your decision.  If you decide to keep your home, call us at 888-536-0334 for a free short initial consultation.

This is often accompanied by the words “My lender says that they’ll work with me!”

Well, yes, you can try to do this on your own.  We don’t think it’s a good idea, and here’s why.

1. Your lender is not on your side.  That’s not a criticism of your lender.  We’re not saying that your lender is bad, unethical, or mean.  What we are saying is that the people who work for your lender have a legal responsibility to their shareholders to get as much money from you as they possibly can.  Lenders don’t want you to work with us, because we get you a better deal than they’d otherwise give you.  It’s that simple.
2. When it’s your home, it’s personal. Nothing is more personal than your home and family. It’s hard to keep an even keel.  That’s one reason a team of negotiators on your side is valuable.
3. We package the deal correctly. There are certain things a lender is going to look for.  We package your deal in such a way that it will get approval.
4. You get one shot. Some lenders give you one shot at a modification in any given year.  Others just give you one shot period.  If you get a bad deal, that’s it.  You’re stuck with it, and you may have left thousands of dollars on the table.

Here’s the bottom line: the numbers tell us it just doesn’t work.  87% of homeowners who work with lenders directly fail to get a permanent modification.

We succeed in getting a permanent modification 95% of the time.  We think those numbers speak for themselves.

1. You must have a job. If the lender is going to make a change in your loan, they need to have confidence that there’s going to be a steady income stream that will pay for the new terms.
2. There must be a hardship.  Back when you first signed your loan agreement, both you and your lender legally agreed that this loan made sense.  The lender is going to want to know what’s changed — what is the hardship that’s keeping you from making your original payments?

Common hardships include:

• Health conditions (anything that’s kept you from working)
• Loss of income (such as one spouse losing a job, or large cutbacks in pay or hours)
• Divorce or the loss of a spouse
• An adjustable mortgage that can’t be refinanced

There are many other hardships.  Your situation is as unique as you are.  To see if you might qualify for a loan modification, the best thing to do is to call us at 888-536-0334 and we’ll schedule an initial consultation.

Across the United States, millions of homeowners are at risk of going into foreclosure.  No one wants that — not you, not the lender, and certainly not us.  But how can you get the best deal for yourself possible?

The lenders don’t want to foreclose, that’s true — but they also want their money.  They’re going to get as much money as they can.  That’s why you want to have an experienced team of negotiators on your side.