Mortgage Blog

Modification - Forbearance follow up

In a July post, I briefly explained forbearance as it relates to the Loan Modification process.  I suggested caution and thorough consideration when your lender makes this a requirement of your requested Loan Modification. I also noted that even if you complete this process you should beware that your lender is not obligated to offer you a final Loan Modification. Anyone that has ever spoken with me on the subject will know that I am not a proponent of modifications.  I prefer short sales where we sell the property and mitigate the debt.  This provides a fair and beneficial p...

August 15th, 2013 | Short Sales, solutions for underwater properties, Loan modification, Modification - Forbearance follow up

A New Mortgage After Successfully Completing a Short Sale.

The goal of our comprehensive Short Sale program has always been to get our clients out of their underwater properties, mitigate all the debt and selling costs, and help them get started over again after a waiting period.  Our Day 1 Strategy Call, encompassing mortgage payments and pre, interim, and post credit strategy, has served us well.  Our clients have been able to obtain new mortgages and we are now helping them directly with our affiliate mortgage company Jefferson Mortgage Group LLC. Now this may make getting a new mortgage after a Short Sale sound easy but that wo...

April 8th, 2013 | mortgage debt forgiveness act, solutions for underwater properties, Short Sales, Traditional Mortgage, A New Mortgage After Successfully Completing a Short Sale.

The Problem with Loan Modifications and Lenders Addressed.

People often complain about the difficulty in obtaining a modification of their loan to achieve a more affordable payment.    The fundamental problem that exists is that your mortgage lender that you make monthly mortgage payments to is often not the investor behind your mortgage. The investor or otherwise real owner of your mortgage is another entity or consortium altogether. I would like to describe the conflict that often interferes. The lender or servicer that receives your monthly mortgage payments can be characterized as the toll booth. They handle the month...

March 4th, 2013 | Loan modification, solutions for underwater properties, Debt Mitigation, modify your loan with your lender, Short Sales, The Problem with Loan Modifications and Lenders Addressed.

Understanding the IRS and The Mortgage Debt Relief Act Incentive.

It boils down to the concept of unjust enrichment.   When someone does not pay a debt or a debt is forgiven, the IRS sees this as effectively income. You no longer have a debt to pay and someone or some business is going to look to write that loss off against income thereby reducing revenues to the IRS. Why should you get a hall pass on the debt is the thought process. You have received some past benefit from this debt. If you no longer have to pay the debt, you have therefore been unjustly enriched and that is seen as unfair in the eyes of the tax authority. ...

January 29th, 2013 | Short Sales, forgiven mortgage debt, mortgage debt forgiveness act, solutions for underwater properties, Understanding the IRS and The Mortgage Debt Relief Act Incentive.

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

Testimonials

Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.