June 26, 2010

Thinking of walking away from your mortgage?

By Timothy Stull (http://www.fresh-start.co)

Better think twice….the penalties and sanctions surrounding “walking away” are more severe than ever. Fannie Mae + Freddie Mac announced that they imposing two very strict rules. First, you walk away ~ no mortgage loans for 7 years. Second and most important, they will be in pursuit of assets to collect on all deficiency balances owed. Reading between the lines ~ the Federal Government will be garnishing your pay check + bank account for quite some time. The banks are ultimately behind all of these motions ~ growing tired of the current position of the delinquent home owner. The pendulum has swung back in the other direction ~ the banks have no responsibility to adhere to the HAMP guide lines. They are now backed by the Fed Gov’t in their collection efforts. If you thought getting a loan mod done was tough before….you haven’t seen anything yet. The games have just begun….you better have gladiator stepping up for you. For aggressive & top notch legal representation please call 877.297.7011 or visit www.FreshStart-LegalNetwork.com

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