JAC Real Estate Solutions

JAC Real Estate Solutions

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Is a loan modification right for you?

A loan modification permanently modifies the terms of your loan. It may change one or more terms of your loan in order to help you bring a defaulted loan current and prevent foreclosure. Based on your circumstances, a loan modification may include one or more of the following:

an interest rate reduction
in certain cases, a forgiveness of a portion of principal
an extension of the maturity of the debt
spreading the past due amount over the remaining term
a deferment of a portion of the outstanding debt.
You may be eligible for a loan modification if:

You have a hardship, such as a job loss, divorce or medical emergency
You are able to make modified mortgage payments
You satisfy the loan owner's eligibility requirements
Happy Thanksgiving 🍁🍽🦃 to you and yours truly 🙏
Why Might a Short Sale Be Preferred Over a Loan Modification?

Homeowners who would prefer to get out from underwater may prefer to do a short sale in-lieu-of a loan modification. A short sale means the bank will accept a reduced payoff and release the loan. If your home is worth dramatically less than the amount owed, it might make more sense to do a short sale and be relieved of the burdened debt. Here are other factors to consider:

After 3 years of maintaining credit, if prices remain stable, homeowners may qualify to buy another home after a short sale with a mortgage and a payment that is affordable.

Both a loan modification and a short sale may affect credit. But either solution is generally better than a foreclosure.

Many loan modifications call for an adjustable rate payment than could increase every year after the initial 5 years of fixed-rate payments have passed.

Most of the short sale listings involve sellers who were denied a loan modification.
Our Mission:

• Our main goal is to provide the right solution whether you want to save your house with a Home Retention Program or sell the house through a Regular Sale or by a Short Sale
• Since March 2015, JAC Real Estate Solutions has been dedicated to helping home owners resolve their mortgage issues.
• Our experienced consultants are here to guide you through every step of the process and provide the additional support services you’ll ultimately need. Our job is to simplify the process, answer any questions you may have, and provide you with everything you require to make those first steps as easy as possible.
• JAC Real Estate Solutions has approved over 600 Loan Modifications over 10 year experience in which it was accomplished through previous companies, attorney offices and as JAC Real Estate Solutions.
• We will get to know each other, review the specifics of your situation and discuss your options.
Successful Story- Approved November 20th 2019
Property In Brentwood NY

Loan Modification Proposal:
• Total Amount Due: $501,848.27
• Proposed Principal Balance: $376,386.20 @ 75%
• Property Value: $365,000
• Proposed Balloon Towards End of Terms: $125,462.07
• Proposed Interest Rate: 3.92%
• Proposed Mortgage Terms: 360 months/30 years
• Proposed Principal and Interest{Monthly}:$ 1,780
• Proposed Property Tax{Monthly}: $517.16
• Proposed Hazard Insurance{Monthly}: $150
• Proposed PITI: $2,447.16

Bank Approved Loan Modification and Lower the Payment to $2,071.33

Result: Client is very happy they get to save their home from Foreclosure

Our main goal is to provide the right solution whether you want to save your house with a Home Retention Program or sell the house by a Short Sale.

Our experienced consultants are here to guide you through every step of the process. The bank knows everything about you, but you know nothing about the bank and how they may in fact benefit by providing you with an alternative to foreclosure. In most cases the investor would in fact come out on top by helping rather than the alternative which is foreclosure. How much more income (if any) would yo

Operating as usual

09/14/2021

Is a loan modification right for you?

A loan modification permanently modifies the terms of your loan. It may change one or more terms of your loan in order to help you bring a defaulted loan current and prevent foreclosure. Based on your circumstances, a loan modification may include one or more of the following:

an interest rate reduction
in certain cases, a forgiveness of a portion of principal
an extension of the maturity of the debt
spreading the past due amount over the remaining term
a deferment of a portion of the outstanding debt.
You may be eligible for a loan modification if:

You have a hardship, such as a job loss, divorce or medical emergency
You are able to make modified mortgage payments
You satisfy the loan owner's eligibility requirements

11/28/2019

Happy Thanksgiving 🍁🍽🦃 to you and yours truly 🙏

11/25/2019

Why Might a Short Sale Be Preferred Over a Loan Modification?

Homeowners who would prefer to get out from underwater may prefer to do a short sale in-lieu-of a loan modification. A short sale means the bank will accept a reduced payoff and release the loan. If your home is worth dramatically less than the amount owed, it might make more sense to do a short sale and be relieved of the burdened debt. Here are other factors to consider:

After 3 years of maintaining credit, if prices remain stable, homeowners may qualify to buy another home after a short sale with a mortgage and a payment that is affordable.

Both a loan modification and a short sale may affect credit. But either solution is generally better than a foreclosure.

Many loan modifications call for an adjustable rate payment than could increase every year after the initial 5 years of fixed-rate payments have passed.

Most of the short sale listings involve sellers who were denied a loan modification.

11/20/2019

Our Mission:

• Our main goal is to provide the right solution whether you want to save your house with a Home Retention Program or sell the house through a Regular Sale or by a Short Sale
• Since March 2015, JAC Real Estate Solutions has been dedicated to helping home owners resolve their mortgage issues.
• Our experienced consultants are here to guide you through every step of the process and provide the additional support services you’ll ultimately need. Our job is to simplify the process, answer any questions you may have, and provide you with everything you require to make those first steps as easy as possible.
• JAC Real Estate Solutions has approved over 600 Loan Modifications over 10 year experience in which it was accomplished through previous companies, attorney offices and as JAC Real Estate Solutions.
• We will get to know each other, review the specifics of your situation and discuss your options.

11/20/2019

Successful Story- Approved November 20th 2019
Property In Brentwood NY

Loan Modification Proposal:
• Total Amount Due: $501,848.27
• Proposed Principal Balance: $376,386.20 @ 75%
• Property Value: $365,000
• Proposed Balloon Towards End of Terms: $125,462.07
• Proposed Interest Rate: 3.92%
• Proposed Mortgage Terms: 360 months/30 years
• Proposed Principal and Interest{Monthly}:$ 1,780
• Proposed Property Tax{Monthly}: $517.16
• Proposed Hazard Insurance{Monthly}: $150
• Proposed PITI: $2,447.16

Bank Approved Loan Modification and Lower the Payment to $2,071.33

Result: Client is very happy they get to save their home from Foreclosure

02/25/2019

What is a mortgage loan modification?

A mortgage loan modification is a change in your loan terms. The modification is a type of loss mitigation. The modification can reduce your monthly payment to an amount you can afford.

Modifications may involve extending the number of years you have to repay the loan, reducing your interest rate, and/or forbearing or reducing your principal balance.

If you are offered a loan modification, be sure you know how it will change your monthly payments and the total amount that you will owe in the short-term and the long-term.

01/15/2019

Did you know you can save money by lowering your monthly Real Estate Property Taxes?
Every Home Owner is entitled to a Tax Reduction every year that does not have only to do with the Star Program.
By the use of Tax Grieveance and Tax Assessments, you can save hundred and sometimes thousands from your Annual Real Estate Property Tax.
Inbox me personally for a free evaluation of your Real Estate Property and know how much I can help you save

Wells Fargo Accidentally Foreclosed on More Homes—What You Should Do in a Similar Situation 10/18/2018

Wells Fargo Accidentally Foreclosed on More Homes—What You Should Do in a Similar Situation

Wells Fargo Accidentally Foreclosed on More Homes—What You Should Do in a Similar Situation A computer glitch at Wells Fargo may have caused more than 400 people to lose their homes, the company admitted. Here are tips to deal with the situation.

01/31/2018

Deed in lieu of foreclosure

This option allows you to deed your home back to your lender or investor instead of facing foreclosure.

This option may work for you if:

You can't afford your regular monthly payment or a slight increase in your payment, plus other monthly expenses.
You don't have substantial funds left at the end of the month.

01/31/2018

Options regarding selling your home

If you face the possibility of selling your home, ask yourself the following before starting the process:

Are you prepared to sell your home?
Are you unable to recover from a situation that caused you to fall behind on your mortgage payments?
Are you unable to afford your regular monthly payment and have no means to catch up on delinquent payments?
If you decide to sell your home, consider the following options.

Short sale
In a short sale, the lender agrees to discount the loan balance due to hardship. The home is sold but proceeds fall short of the balance owed.

This option may work for you if:

You can't afford your regular monthly payment and expenses.
You are interested in selling your home, which is worth less than you owe.

01/31/2018

Repayment plan

A repayment plan allows you to pay your regular monthly payment plus additional funds applied to past-due amounts. Payments are distributed over an agreed-upon period of time.

This option may work for you if:

You can afford your regular monthly payments and other expenses.
You have surplus funds at the end of the month.

01/31/2018

Hardship loan modification

This option allows you to roll interest and escrow shortage from delinquent payments into the existing loan. You may qualify for an interest-rate reduction to have the term of the loan extended.

This option may work for you if:

You can afford your regular monthly payment or a slight increase in your payment, plus other monthly expenses.
You don't have substantial funds left at the end of the month.

09/07/2017

HARP Extended Through 2018

DAILY REAL ESTATE NEWS | WEDNESDAY, AUGUST 23, 2017
The Federal Housing Finance Agency announced that it is extending HARP, a popular government refinancing program, through Dec. 31, 2018. The Home Affordable Refinance Program was to expire on Sept. 30. While the FHFA has once again extended the deadline by another 15 months, this time it plans to introduce a new loan program to eventually take HARP's place.

HARP, which was introduced during the housing crisis, helps homeowners refinance their mortgages when they may be current on their mortgage payments but have little to no equity in their homes. Through HARP, more than 3.4 million homeowners have refinanced their mortgages. The FHFA says that more than 143,000 homeowners could still benefit from HARP.

The FHFA extended HARP in order to “create a bridge” to a new refinancing product that it plans to launch in October. Fannie Mae and Freddie Mac are to implement a new streamlined refinance offering that is aimed at borrowers with high loan-to-value ratios. The High LTV Streamlined Refinance Program would provide liquidity for borrowers who are current on their mortgage but unable to refinance because their loans have LTV ratios that exceed Fannie and Freddie’s maximum limits. The program—which the FHFA says will “appropriately balance continuing to offer assistance to underwater borrowers with protecting taxpayers”—will be available for loans originated on or after Oct. 1.

Source: Federal Housing Finance Agency

04/10/2017

The Importance of Using a Professional to Sell Your Home
by The KCM Crew on April 10, 2017 in For Sellers


When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. According to the National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, the percentage of buyers who used the internet in their home search increased to 94%.
However, the report also revealed that 96% of buyers who used the internet when searching for homes purchased their homes through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their homes directly from a seller whom the buyer didn’t know. Buyers search for a home online but then depend on an agent to find the home they will buy (50%), to negotiate the terms of the sale (47%) & price (36%), or to help understand the process (61%).

The plethora of information now available has resulted in an increase in the percentage of buyers that reach out to real estate professionals to “connect the dots.” This is obvious, as the percentage of overall buyers who have used agents to buy their homes has steadily increased from 69% in 2001.

Bottom Line
If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

JAC Real Estate Solutions updated their address. 01/24/2017

JAC Real Estate Solutions updated their address.

JAC Real Estate Solutions updated their address.

12/27/2016

HAMP to Be Replaced with ‘Flex Modification’

DAILY REAL ESTATE NEWS | FRIDAY, DECEMBER 16, 2016

Mortgage financing giants Freddie Mac and Fannie Mae announced a new foreclosure prevention program that will roll out next year to replace the Home Affordable Mortgage Program (HAMP), which expires at the end of this month.

The new program will be called “Flex Modification.” It reportedly will provide a 20 percent reduction in mortgage payments for eligible borrowers. The majority of those homeowners who can qualify will be 60 days or more past due on their payments, although the GSEs note that some exceptions may be granted to those who are current on their mortgages or less than 60 days delinquent in certain circumstances.

“The new Flex Modification announced by Fannie Mae and Freddie Mac was designed based on lessons learned from crisis-era modification programs to help borrowers stay in their homes and avoid foreclosure whenever possible” says Sandra Thompson, the Federal Housing Finance Agency’s deputy director. “By avoiding the high costs associated with foreclosures, the Flex Modification will result in significant savings for the GSEs and taxpayers. And it will provide borrowers who face permanent hardships with a sustainable modification."

The new program will be implemented by Oct. 1, 2017.

12/13/2016

Another job well done. Client is Happy he gets to keep his house, his investment

Timeline photos 06/03/2016

Timeline photos

05/25/2016

PERMANENT MODIFICATION

HAMP was designed to provide deep and immediate savings if you have experienced unaffordable increases in expenses or reductions in income. It can lower your interest rate, reduce your payments and make your mortgage more affordable, both now when times are the most challenging and for the long term. In order to achieve the lower mortgage payment, HAMP modifications follow a structured protocol that may include the following:

Adjusting the interest rate
Extending the term
Forbearing and/or forgiving principal
Your modification agreement contains all the details of your modified loan. Be sure to review it with your mortgage company or housing counselor if you’re working with one. You should understand what the new interest rate on the modified loan is, whether your interest rate will increase at some point and what the new term of the loan is (30 years, 40 years?). If a portion of your loan was forborne, you should understand when the balloon payment is due and how much you will have to pay. The more familiar you are with these details, especially concerning the interest rate, the more prepared you will be to consistently make your mortgage payments.

If you have any questions about the terms of your modification, please call a housing expert 888-995-HOPE™ (4673).

05/25/2016

Understand the Terms of Your Modification

TRIAL PERIOD

Three-month trial plan.

If you're eligible for the Home Affordable Modification ProgramSM (HAMP®), your mortgage company will usually put you on a three-month trial plan to let you demonstrate your ability to make timely payments at the new monthly payment level. If you successfully make all required payments during your trial period, your mortgage company will execute an official modification agreement.

05/18/2016

If you or anyone you know is struggling with making their mortgage payments or are facing a foreclosure with their property, don't let the opportunity go. I can analyze your case and come up up with the best possible solution to not only keep your property, but obtain an affordable payment that can alleviate your monthly expenditures.

Please Contact me at 631-889-5581. I'm here to help

05/15/2016

There are any number of reasons people fall behind on mortgage payments – job loss, medical emergencies, divorce, other financial hardship. Once you begin to fall behind on your mortgage it can be incredibly difficult to catch back up. You may well find that banks will not accept payments, making the situation worse every month. Chapter 13 bankruptcy may offer the surest way to catch up past due mortgages, but there is another alternative. In some cases, loan modifications worked out with your bank could lower your payment and help you to catch up on what you owe. But it is important to realize that there can be pitfalls in the mortgage loan modification process, and to understand how the process works.

05/14/2016

A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, which allows the loan to be reinstated, and results in a payment the mortgagor can afford

04/29/2016

MHA HAS A SOLUTION THAT CAN FIT YOUR NEEDS, BUT FIRST, SELECT THE SITUATION THAT BEST DESCRIBES YOU.

- I Am Struggling to Make My Mortgage Payments
- I Am Looking to Refinance
- I Am Unemployed
- I Am Considering a Short Sale

While Congress Stalls, The Country Has Now Passed 30 Paid Sick Leave Laws 04/28/2016

While Congress Stalls, The Country Has Now Passed 30 Paid Sick Leave Laws

While Congress Stalls, The Country Has Now Passed 30 Paid Sick Leave Laws Another New Jersey city opted to ensure all residents can take a paid day off when they get sick.

04/22/2016

Government Home Affordable Modification Program (HAMP)
President Obama's Administration recently announced the requirements to modify eligible mortgages under the Home Affordable Modification Program (HAMP). There are two types of HAMP modifications - Tier 1 & Tier 2.

Tier 1 HAMP Modification

To be eligible for a Tier 1 HAMP Modification:
Your mortgage loan is secured by a first lien.
Your loan was originated on or before January 1, 2009.
The property is your primary residence.
The property has 1 - 4 units
Depending on the number of units in the property, the current unpaid principal balance on your loan is lower than the limits below:
1 Unit $729,750
2 Units $934,200
3 Units $1,129,250
4 Units $1,403,400
You have not previously received a HAMP modification for this loan.
The mortgage loan is delinquent, or default is reasonably foreseeable.
Your monthly mortgage payment (including principal, interest, taxes, insurance, and when applicable, association fees and any existing escrow shortages) prior to the modification is greater than 31 percent of your verified monthly gross income.
How it Works:

We try several options until we reduce your monthly payment down to 31% of your monthly income or less, including:
Forgive Principal - lower your principal loan balance down to as low as 95% of the value of your home.
Lower your Rate - reduce interest down to as low as 2%.
Extend the Loan Term - monthly payments calculated over as many as 480 months (this may create a balloon if we cannot extend the loan repayment period).
Forbear Principal - set aside a portion of the balance in a non-interest bearing balloon payment. This balloon payment will be due when the loan is paid off.

04/21/2016

Loan Modifications:

Modifying your loan involves adding past due payments including principle, interest, taxes and insurance, back into the loan balance in order to bring it current. Your payments are then re-calculated over a new term (period of time in which the loan must be repaid).

04/21/2016

HAMP (Home Affordable Modification Program

HAMP can lower your monthly mortgage payments to no more than 31% of your verified monthly gross income. Not all loans are eligible for the HAMP program.

Products

The following services are provided by JAC Real Estate Solutions Network:

• Loan Modifications
• Short Sale
• Deed and Leu of Foreclosure
• Foreclosure Defense
• Debt Settlement
• Tax Property Grievances and Assessments

Telephone

Address


710 East Jericho Turnpike
Huntington Station, NY
11746

Opening Hours

Monday 10am - 5pm
Tuesday 12pm - 5pm
Wednesday 10am - 5pm
Thursday 10am - 5pm
Friday 10am - 5pm
Saturday 10am - 2pm

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