West Sacramento Short Sale Information - Ocwen Principle Reductions

Today let's talk about Ocwen Principle Reductions 

Recently Ocwen launched their new Shared Appreciation Mortgage. The Shared Appreciation Program offers another twist to Principle Reduction and West Sacramento Short Sale.

Under the program, those who qualify Ocwen will:

1) reduce the principle to 95% of Fair Market Value (FMV)

2) Reduce the interest rate on the remaining balance and

3) Waive their right to seek a deficiency on the forgiven debt 1/3 each year if the borrower stays current for the next 3 years.

So, what's the catch you say? The understanding is that when you go to sell now at a profit instead of a loss, you agree to give Ocwen 25% of the appreciation if and when you sell.

Now think about that for a minute. You get to stay in your house. You automatically have 5% equity, you have no liability for the forgiven debt providing you remain current on your payments and you give up 25% of the profit when you sell. I gotta tell you that sounds like a pretty fair deal to me.

Your other alternatives are: stay in a house worth half of what you owe, short sale or let the house go into foreclosure. Pretty easy decision if you ask me.

Now, for those who don't qualify and owe more than your home is worth, West Sacramento Short Sale is more than likely still your best option. Call me and we can review your particular situation.

Is an West Sacramento Short Sale Right for Me? Call me and let's talk about it.

To get a better idea of when your West Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you'll be glad you did