www.BestOCProperties.com In this video Fred talks about the importance of getting pre-approved for a mortgage first before anything else. Whether a buyer is purchasing a foreclosures , a short sale, or a standard equity sale, they will need to get pre-approved for a mortgage. The only time they will not need to get pre-approved is when they are purchasing the property with cash and no loan. Whether you are buying Orange County Real Estate or any where else in the nation, and you are in need of a loan make sure to get pre-approved by a bank, broker, or direct lender. Mortgage guidelines are changing everyday and you must make sure that you are 1st qualified, then happy with the terms, rate, and conditions. If you want to contact us, you can reach us 7 days a week at (949)272-0125 and let us know you found us on Youtube.
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NARRATOR: One, not so sunny day, Larry and Mary discovered they had a problem. The bank was about to foreclose on their home and they didn’t know what to do. Lucky for them, everyone else did. [ILLUSTRATION/ NOT NARRATED: dialogue bubbles crowd the screen: Try HAFA. It's HAMP. Call HUD. A 2MP is what you need. The MHA all the way. Make sure they have their CDPE? Have you filled out your LME? It's an REO. Speedwagon? You're upside down. You're underwater. Eat your vegetables.] All Larry and Mary knew was that they were up a creek without a paddle. Losing their home would be the easy part. It’s what happened after that would really hurt. [ILLUSTRATION- NARRATION CONTINUES over illustration of stats to liven it up; a credit score of 850 counts down to 300] Their “A” level credit score will become an “F”; it’ll be 3-5 years until that score starts to recover; at least 5 years until they can qualify for a new home loan; 7-10 years until it’s cleared from their credit history; and a lifetime of checking the “foreclosure” box on future home loan, car loan, and credit applications. For Larry and Mary, foreclosure wasn’t much of an option at all. And they weren’t alone. When the housing bubble burst, there were lots of people left holding the soap. According to the smart people at the University of “We Know What We’re Talking About,” nearly 1 in 7 homeowners is behind on their payments; nearly 1 in 2 people know someone in foreclosure; and every 3 months, nearly 250000 new …
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Thank you for sharing this information. The information was very helpful and saved a lot of my time.
Yes, John. Darren truly cares for the homeowners he represents. So nice to know that people do care.
Thank you so much for your comments Mike.
It’s so good to know that there are people out there that actually WANT to help us do what is best for US as homeowners… Thanks Darren.
What a GREAT video. Concise and educational with the kind of information anyone struggling with their mortgage should know. Great job Darren and XO for making it simple, and easy.