Preston Ely’s FreedomSoft 4 Review is here. This review is mainly for new users who want to experience a whole new level of real estate investing. The reason why this is for NEW users is because everyone that had FreedomSoft 3 was automatically upgraded a few weeks ago and I can tell you that the upgrades are AWESOME! Before we get to the upgrades, let me tell you about FreedomSoft 4 and what kind of real estate software Preston has created.
First and foremost, this software isn’t for everyone and I’ll tell you why in just a moment…< [Read more…] about FreedomSoft 4 Review – Preston Ely
Answer: – I think you’re going to find it’s the same no matter what kind of loan you have. You have an obligation to pay a specific amount each month. If you cannot pay, the mortgagor has the right to initiate the 
Those of you familiar with a short sale, you understand that you are building a case to present to the bank. The hardship letter is a key component to building your case and getting your short sale approved. A good hardship letter that is heart felt can literally mean the difference between acceptance and rejection. I may not be as key as the BPO, but it definitely has a great deal of weight when getting these approved. 
Answer: – I’m sorry to hear about your foreclosure in Oregon. I hear this a lot right now as home values in some parts of the country continue to decline. Let me share with you some of the possibilities and consequences you might have as you go through this process. The good news is that you still have a lot of good options since your home hasn’t actually gone through foreclosure yet. Once the home is foreclosed on, there are not a lot of options, so time is key right now. 
The HELOC people have proposed reducing my interest rate from 6.25% to 4% which reduces my payment from about $1,017/mo to about $632/month. Seems like I should sign up, right? 
I decided to go with the short sale thinking that it would be a better option on my credit rating vs. a foreclosure. I had a first and a second mortgage with the same lender (Chase) I purchased the home with an 80/20 loan and during the time that I owned the home I never refinanced or did anything that would have changed the “purchase money” status. The 1st mortgage balance was $320,000 and the 2nd mortgage was $83,000.