Frank Wible's Services - Buying Foreclosures

IN A MARKET WHERE SO MANY PEOPLE NEED ASSISTANCE...

The five-year ARM (Adjustable Rate Mortgage, or swing loan) was the most popular loan during the real estate boom. It allowed people to purchase much more home than they were previously able to afford, with a very reasonable payment. Now that the boom is over- and it's been almost five years- the swing is about to hurt many.

When you find yourself with one of these ARM loans, commonly known in the industry as "suicide loans" with very little, or no equity left in your home, refinancing could be a problem. Mortgage companies have raised their guidelines for credit and the amount they will refinance based on the value of your home (known as the loan to value) so much so that most people with these ARM loans will never qualify for a refinance from any mortgage company. In some cases, when the ARM does adjust, payments more than double.

Quickly, homeowners are scrambling to find an option to what is sure to be financial ruin for them if they do not address their ARM loan situation. Most speak to a Realtor about selling, but that becomes a problem because what they owe is now greater than what their home is worth. So selling with a Realtor is removed as an option. They can't sell their homes for enough to pay off their mortgages, let alone to cover the closing costs and Realtor commissions. For sale by owner (FSBO) is another option to explore. But with the housing market declining, the home being listed for top dollar (because it has to be), and qualified buyers having so many homes to pick from, most of the time FSBO will not work either. As you can see, your savings begin to disappear quickly and with the home not selling, you wonder what will become of this situation.

Soon, you will not be able to make the payments and the lender will begin the foreclosure process and take back the collateral that you used to secure the loan, your home! This only adds to the despair because lender fees and missed payments only add to the amount you owe on your home. What options are left for you to explore? Bankruptcy? There is another option!

REMAX All Pros of Turnersville, New Jersey recently brought Frank Wible, the area's authority in foreclosures and lender negotiations to their office.

"Frank Wible has saved many homes in dire situations and is one of the best foreclosure and loss mitigation experts that I have ever seen. We are very pleased he has chosen All Pros for his real estate practice," says John Swartz, owner and broker of REMAX All Pros.

"Frank Wible is no stranger to foreclosures and difficult real estate markets. He has spent his entire real estate career focused on the people involved in foreclosure. As heard on the radio and seen on TV, Frank Wible is often called by the media to provide market analysis and assistance to listeners that call in because they are in financial trouble with their homes," continued Swartz.

"My entire focus has always been on helping people and not the money I make as a result. It's always been about giving the best guidance and direction, even if that means I get paid nothing," Franks says.

Frank spends, as much time helping people to "save their homes" where he receives no payment at all, as he does selling homes, once that has become the homeowner's only option.

But how do you sell a home where the homeowner owes more on the home than a buyer will pay for it? How do you pay the commissions and closing costs? The way to do so is called a "Short Sale" and Frank Wible is deemed the top expert in this type of lender negotiation. A short sale is when your lender allows you to sell your home for less than you owe, and in most cases, forgives you any balance left on the loan.

Frank also negotiates with your lender so that the lender even pays the closing costs and any real estate commissions! So the entire transaction may cost the homeowner nothing. "This is one of many options that are available to a home owner in financial trouble, but they must contact a professional early on in the process in order to maximize their options," continued Frank Wible.

As the short sale authority, many other Realtors and brokers have hired Frank to assist in the closings of their own short sales and foreclosure listings. Frank continues to grow his "Helping People" business and win award after award for service and dedication to the industry, and to people in financial trouble.

Frank Wible can be reached directly by calling his office at: (856) 228-7990 Ext 150. Or can be reached at REMAX All Pros in Turnersville, New Jersey or at www.ShortSaleNJ.com