(376,1,'2010-06-23 18:48:03','2010-06-23 18:48:03','<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-94\" title=\"services_07\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_07.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Loan Modification</strong>\r\n\r\nA mortgage modification generally occurs when both parties (borrower and lender) to a problem loan mutually agree to work out the issues by creating new and better loan terms. The hope is that the new improved mortgage will enable the borrower to meet their obligations and avoid foreclosure. But is a loan modification the best solution? We can help you find the best option for your situation.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-95\" title=\"services_10\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_10.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Short Sales</strong>\r\n\r\nWhen lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales. But a short sale may be one of the best options available for you in this market. We will work with you to consider a short sale, as well as handle the lender communication and apply any pressure needed to get the best outcome for you.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-96\" title=\"services_12\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_12.jpg\" alt=\"\" width=\"106\" height=\"105\" /></td>\r\n<td><strong>Property Management</strong>\r\n\r\nOur mission is to ensure that every property owner has a competent and honest professional to manage their most valuable asset. Property management can be an option for homeowners looking to offset their mortgage payment or legal defense. The responsibility of maintaining and running the property can be overwhelming. For many homeowners, the logical solution is to hire a property management company to oversee their rental property.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-97\" title=\"services_14\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_14.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Credit Repair</strong>\r\n\r\nYour situation is unique. And our personal approach to credit repair utilizes the widest range of tools available to address your requirements - and insure that you get the results you deserve. We will evaluate your credit reports and develop a plan based on your needs. And as we continue to manage your account we will tailor our services to events as they arise. Whether you need to clean up your credit reports, rebuild your credit, boost your credit scores, or deal with active collection accounts, we offer the most appropriate and efficient solution.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-98\" title=\"services_16\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_16.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Debt Settlement</strong>\r\n\r\nWe offer a settlement program wherein we negotiate with your creditors and collection agencies in order to settle the debt for less than what you owe. With proper help you can lower your monthly payments, reduce interest rates, waive late fees, eliminate collection calls, avoid bankruptcy, have only one monthly payment, and become debt free. Keep in mind, however, your credit score is likely to go down when you stop paying creditors and save money for debt settlement.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>','Services','','inherit','open','open','','27-revision-v1','','','2010-06-23 18:48:03','2010-06-23 18:48:03','',27,'http://h4hconsulting.com/cms/376/27-revision-11/',0,'revision','',0),(377,1,'2010-08-11 16:16:59','2010-08-11 16:16:59','<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-94\" title=\"services_07\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_07.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Loan Modification</strong>\r\n\r\nA mortgage modification generally occurs when both parties (borrower and lender) to a problem loan mutually agree to work out the issues by creating new and better loan terms. The hope is that the new improved mortgage will enable the borrower to meet their obligations and avoid foreclosure. But is a loan modification the best solution? We can help you find the best option for your situation.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-95\" title=\"services_10\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_10.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Short Sales</strong>\r\n\r\nWhen lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales. But a short sale may be one of the best options available for you in this market. We will work with you to consider a short sale, as well as handle the lender communication and apply any pressure needed to get the best outcome for you.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-96\" title=\"services_12\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_12.jpg\" alt=\"\" width=\"106\" height=\"105\" /></td>\r\n<td><strong>Property Management</strong>\r\n\r\nOur mission is to ensure that every property owner has a competent and honest professional to manage their most valuable asset. Property management can be an option for homeowners looking to offset their mortgage payment or legal defense. The responsibility of maintaining and running the property can be overwhelming. For many homeowners, the logical solution is to hire a property management company to oversee their rental property.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-97\" title=\"services_14\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_14.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Credit Repair</strong>\r\n\r\nYour situation is unique. And our personal approach to credit repair utilizes the widest range of tools available to address your requirements - and insure that you get the results you deserve. We will evaluate your credit reports and develop a plan based on your needs. And as we continue to manage your account we will tailor our services to events as they arise. Whether you need to clean up your credit reports, rebuild your credit, boost your credit scores, or deal with active collection accounts, we offer the most appropriate and efficient solution.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-98\" title=\"services_16\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_16.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Debt Settlement</strong>\r\n\r\nWe offer a settlement program wherein we negotiate with your creditors and collection agencies in order to settle the debt for less than what you owe. With proper help you can lower your monthly payments, reduce interest rates, waive late fees, eliminate collection calls, avoid bankruptcy, have only one monthly payment, and become debt free. Keep in mind, however, your credit score is likely to go down when you stop paying creditors and save money for debt settlement.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>','Services','','inherit','open','open','','27-revision-v1','','','2010-08-11 16:16:59','2010-08-11 16:16:59','',27,'http://h4hconsulting.com/cms/377/27-revision-12/',0,'revision','',0),(378,1,'2010-08-02 15:02:58','2010-08-02 15:02:58','<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>Located in North Tampa, Florida, Hope for Homeowners Consulting is a distressed property and foreclosure consulting company run by a team of real estate and legal experts with over 23 years of combined experience. It is the objective of Hope for Homeowners Consulting to empower homeowners who purchased their homes at the peak of the real estate market to take control of their financial future.\r\nCo-Founders Chris Sommer and Matt Mitcham, Esq. began with the goal of helping homeowners navigate through the distressed property/foreclosure process and understand foreclosure consequences by providing tools, resources, affordable legal and tax help, support and peace of mind.  Since 2009, Hope for Homeowners Consulting has helped many homeowners prepare and strategically navigate through the distressed property and foreclosure process.\r\n\r\nWe strive to help homeowners understand their rights and know their options by  developing a personalized plan for our members who seek assistance through their distressed property/foreclosure situation. We help members understand and minimize foreclosure consequences, while offering unlimited support and individual attention. Helping homeowners on the frontlines of this market and economy, Hope for Homeowners Consulting is the one of the leading authorities on foreclosure laws &amp; consequences.\r\n\r\n<strong>Management Team</strong><strong> </strong>\r\n\r\n<strong>Chris Sommer</strong>\r\n\r\n<a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Chris-small-S.-BUS-crd-pic-e1279124034397.jpg\"><img class=\"size-thumbnail wp-image-240 alignleft\" title=\"Chris small S. BUS crd pic\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Chris-small-S.-BUS-crd-pic-e1279124034397-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>Chris Sommer has been Managing Director of Hope for Homeowner’s Consulting, LLC since 2009.  With over fourteen years combined experience in banking, finance, real estate and legal services, Chris realized that with this deep recession and housing crisis many homeowners were being taken advantage of by the lenders or those who were attempting to help them.  He routinely witnessed homeowners excluding themselves from certain options by working on their own or with individuals not aware of all the programs and options available. Real estate agents do real estate, bankruptcy attorneys do bankruptcy; they may not be not familiar with all of the outside industries available to call upon to assist you in the settlement process. Not everyone has knowledge of all of the scopes of successful settlement. Chris realized that there was an enormous lack of good information available to homeowners. With that understanding and entrepreneurial drive, Chris helped form HopeforHomeownersConsulting.com by developing an affordable business model that allows homeowners to know their rights, understand foreclosure consequences, leverage industry knowledge &amp; programs, and use the law to their advantage.\r\n\r\nChris Sommer and his wife are proud new parents to a beautiful girl!\r\n\r\n<strong>Matt Mitcham, Esq.</strong>\r\n\r\n<strong> </strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Matt-picture-cropped22.png\"><img class=\"alignleft size-thumbnail wp-image-247\" title=\"Matt picture cropped2\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Matt-picture-cropped22-150x150.png\" alt=\"\" width=\"150\" height=\"150\" /></a>Matt Mitcham is an owner and general counsel of Hope for Homeowners Consulting. Matt focuses his practice on FORECLOSURE DEFENSE, DEFENSE FROM CREDITORS, LOSS MITIGATION, MOTIONS (for early termination of probation, modifications of terms and conditions), FAMILY LAW (contested/uncontested divorces, post judgment matters).\r\n- Son of retired criminal circuit court Judge B. Anderson Mitcham\r\n- Graduated from Jesuit High School 1995\r\n- Graduated with B.A. degree from University of Florida 1998\r\n- Graduated with Juris Doctorate degree from Stetson College of Law 2001\r\n- Certified legal intern with the Hillsborough County State Attorney\'s Office\r\n- Admitted to Florida Bar 2001\r\n- Admitted to the Supreme Court of Florida 2001\r\n- Admitted to the United States Supreme Court 2005\r\n- Admitted to the United States Middle District of Florida Court 2005\r\n- Former Assistant State Attorney with the Hillsborough County State Attorney\'s Office handling DUI, traffic, misdemeanor, juvenile, felony cases - 13th Judicial Circuit - Hillsborough County\r\n- Graduated from Florida Prosecuting Attorney\'s DUI &amp; Advanced DUI Schools\r\n- Adjunct professor at Southwest Florida College\r\n\r\nMatt was born and raised in Tampa, Florida.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>','About Us','','inherit','open','open','','2-revision-v1','','','2010-08-02 15:02:58','2010-08-02 15:02:58','',2,'http://h4hconsulting.com/cms/378/2-revision-18/',0,'revision','',0),(379,1,'2010-08-11 16:17:19','2010-08-11 16:17:19','<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-94\" title=\"services_07\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_07.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Loan Modification</strong>\r\n\r\nA mortgage modification generally occurs when both parties (borrower and lender) to a problem loan mutually agree to work out the issues by creating new and better loan terms. The hope is that the new improved mortgage will enable the borrower to meet their obligations and avoid foreclosure. But is a loan modification the best solution? We can help you find the best option for your situation.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-95\" title=\"services_10\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_10.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Short Sales</strong>\r\n\r\nWhen lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales. But a short sale may be one of the best options available for you in this market. We will work with you to consider a short sale, as well as handle the lender communication and apply any pressure needed to get the best outcome for you.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-96\" title=\"services_12\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_12.jpg\" alt=\"\" width=\"106\" height=\"105\" /></td>\r\n<td><strong>Property Management</strong>\r\n\r\nOur mission is to ensure that every property owner has a competent and honest professional to manage their most valuable asset. Property management can be an option for homeowners looking to offset their mortgage payment or legal defense. The responsibility of maintaining and running the property can be overwhelming. For many homeowners, the logical solution is to hire a property management company to oversee their rental property.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-97\" title=\"services_14\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_14.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Credit Repair</strong>\r\n\r\nYour situation is unique. And our personal approach to credit repair utilizes the widest range of tools available to address your requirements - and insure that you get the results you deserve. We will evaluate your credit reports and develop a plan based on your needs. And as we continue to manage your account we will tailor our services to events as they arise. Whether you need to clean up your credit reports, rebuild your credit, boost your credit scores, or deal with active collection accounts, we offer the most appropriate and efficient solution.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-98\" title=\"services_16\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_16.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Debt Settlement</strong>\r\n\r\nWe offer a settlement program wherein we negotiate with your creditors and collection agencies in order to settle the debt for less than what you owe. With proper help you can lower your monthly payments, reduce interest rates, waive late fees, eliminate collection calls, avoid bankruptcy, have only one monthly payment, and become debt free. Keep in mind, however, your credit score is likely to go down when you stop paying creditors and save money for debt settlement.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>','Services','','inherit','open','open','','27-revision-v1','','','2010-08-11 16:17:19','2010-08-11 16:17:19','',27,'http://h4hconsulting.com/cms/379/27-revision-13/',0,'revision','',0),(380,1,'2010-08-11 18:55:58','2010-08-11 18:55:58','Do you think a Foreclosure Defense practice can’t be profitable? <strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Sales-Book-Complete.pdf\">Think Again….</a></strong>\r\n\r\n* Six million families are more than two months behind with their payments.\r\n* 200,000 more families receive foreclosure notices each month.\r\n\r\nOf those, only 1% are being defended in FL\r\n\r\nWhat’s missing? Attorneys. Why?\r\n\r\n1. Homeowners assume attorneys are too expensive.\r\n2. Attorneys assume too much liability with little chance of success.\r\n\r\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing &amp; success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\r\n\r\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\r\n\r\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\"></a>','Attorneys & Foreclosure Defense ','','publish','open','open','','foreclosure-defense-for-attorneys','','','2011-06-20 16:49:35','2011-06-20 16:49:35','',27,'http://h4hconsulting.com/cms/',10,'page','',0),(381,1,'2010-08-11 18:54:51','2010-08-11 18:54:51','','Foreclosure Defense for Attorneys','','inherit','open','open','','380-revision','','','2010-08-11 18:54:51','2010-08-11 18:54:51','',380,'http://h4hconsulting.com/cms/381/380-revision/',0,'revision','',0),(382,1,'2010-08-11 18:55:58','2010-08-11 18:55:58','Do you think a Foreclosure Defense practice can’t be profitable? Think Again….\r\n\r\n    * Six million families are more than two months behind with their payments.\r\n    * 200,000 more families receive foreclosure notices each month.\r\n\r\nOf those, only 1% are being defended in FL\r\n\r\nWhat’s missing? Attorneys. Why?\r\n\r\n   1. Homeowners assume attorneys are too expensive.\r\n   2. Attorneys assume too much liability with little chance of success.\r\n\r\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing & success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\r\n\r\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\r\n\r\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\">','Foreclosure Defense for Attorneys','','inherit','open','open','','380-revision-2','','','2010-08-11 18:55:58','2010-08-11 18:55:58','',380,'http://h4hconsulting.com/cms/382/380-revision-2/',0,'revision','',0),(383,1,'2010-08-11 18:56:32','2010-08-11 18:56:32','Do you think a Foreclosure Defense practice can’t be profitable? Think Again….\r\n\r\n    * Six million families are more than two months behind with their payments.\r\n    * 200,000 more families receive foreclosure notices each month.\r\n\r\nOf those, only 1% are being defended in FL\r\n\r\nWhat’s missing? Attorneys. Why?\r\n\r\n   1. Homeowners assume attorneys are too expensive.\r\n   2. Attorneys assume too much liability with little chance of success.\r\n\r\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing & success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\r\n\r\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\r\n\r\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\">','Foreclosure Defense for Attorneys','','inherit','open','open','','380-revision-3','','','2010-08-11 18:56:32','2010-08-11 18:56:32','',380,'http://h4hconsulting.com/cms/383/380-revision-3/',0,'revision','',0),(384,1,'2010-08-11 18:57:35','2010-08-11 18:57:35','Do you think a Foreclosure Defense practice can’t be profitable? Think Again….\r\n\r\n* Six million families are more than two months behind with their payments.\r\n* 200,000 more families receive foreclosure notices each month.\r\n\r\nOf those, only 1% are being defended in FL\r\n\r\nWhat’s missing? Attorneys. Why?\r\n\r\n1. Homeowners assume attorneys are too expensive.\r\n2. Attorneys assume too much liability with little chance of success.\r\n\r\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing &amp; success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\r\n\r\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\r\n\r\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\"></a>','Foreclosure Defense for Attorneys','','inherit','open','open','','380-revision-4','','','2010-08-11 18:57:35','2010-08-11 18:57:35','',380,'http://h4hconsulting.com/cms/384/380-revision-4/',0,'revision','',0),(385,1,'2011-05-04 15:12:00','2011-05-04 15:12:00','Do you think a Foreclosure Defense practice can’t be profitable? <strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Sales-Book-Complete.pdf\">Think Again….</a></strong>\n\n* Six million families are more than two months behind with their payments.\n* 200,000 more families receive foreclosure notices each month.\n\nOf those, only 1% are being defended in FL\n\nWhat’s missing? Attorneys. Why?\n\n1. Homeowners assume attorneys are too expensive.\n2. Attorneys assume too much liability with little chance of success.\n\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing &amp; success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\n\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\n\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\"></a>','Attorneys & Foreclosure Defense ','','inherit','open','open','','380-autosave','','','2011-05-04 15:12:00','2011-05-04 15:12:00','',380,'http://h4hconsulting.com/cms/385/380-autosave/',0,'revision','',0),(386,1,'2010-08-11 18:58:15','2010-08-11 18:58:15','Do you think a Foreclosure Defense practice can’t be profitable? Think Again….\r\n\r\n* Six million families are more than two months behind with their payments.\r\n* 200,000 more families receive foreclosure notices each month.\r\n\r\nOf those, only 1% are being defended in FL\r\n\r\nWhat’s missing? Attorneys. Why?\r\n\r\n1. Homeowners assume attorneys are too expensive.\r\n2. Attorneys assume too much liability with little chance of success.\r\n\r\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing &amp; success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\r\n\r\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\r\n\r\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\"></a>','Foreclosure Defense for Attorneys','','inherit','open','open','','380-revision-5','','','2010-08-11 18:58:15','2010-08-11 18:58:15','',380,'http://h4hconsulting.com/cms/386/380-revision-5/',0,'revision','',0),(387,1,'2010-06-23 19:02:17','2010-06-23 19:02:17','Please complete the following form as completely and accurately as possible. It will be used to determine the very best strategy for your specific financial situation.','Financial Statement','','inherit','open','open','','137-revision-7','','','2010-06-23 19:02:17','2010-06-23 19:02:17','',137,'http://h4hconsulting.com/cms/387/137-revision-7/',0,'revision','',0),(388,1,'2010-08-11 19:26:23','2010-08-11 19:26:23','Please complete the following form as completely and accurately as possible. It will be used to determine the very best strategy for your specific financial situation.','Financial Statement','','inherit','open','open','','137-revision-8','','','2010-08-11 19:26:23','2010-08-11 19:26:23','',137,'http://h4hconsulting.com/cms/388/137-revision-8/',0,'revision','',0),(389,1,'2010-08-07 03:11:20','2010-08-07 03:11:20','<strong>Do you know what a Deficiency Judgment is and how it could harm you financially?    <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA <strong>deficiency judgment</strong> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<strong>Deficiency Judgment Overview</strong>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<strong>Deficiency Judgments</strong>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1>Deficiency   Judgments in Florida</h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3>Can lenders get deficiency judgment     Florida?</h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3>What happens after lenders get judgment?</h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3>Are your wages exempt from garnishment?</h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3>Are homestead properties exempt from     deficiency judgment Florida?</h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3>Does PMI help you cover the deficiency?</h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3>Is there a way to avoid deficiency     judgments?</h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<strong>How has the economy affected judgments?</strong>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<strong>What about Second Mortgages and Private Lenders?</strong>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<strong>What do I do if the file a Deficiency Judgment?</strong>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<strong>How do I avoid a Deficiency Judgment?</strong>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<strong>What about Income Taxes?</strong>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment','','inherit','open','open','','193-revision-13','','','2010-08-07 03:11:20','2010-08-07 03:11:20','',193,'http://h4hconsulting.com/cms/389/193-revision-13/',0,'revision','',0),(390,1,'2010-08-07 03:11:32','2010-08-07 03:11:32','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a>What is a strategic default and why should it concern you?</strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-6','','','2010-08-07 03:11:32','2010-08-07 03:11:32','',197,'http://h4hconsulting.com/cms/390/197-revision-6/',0,'revision','',0),(391,1,'2010-08-11 19:33:17','2010-08-11 19:33:17','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a><a href=\"http://h4hconsulting.com/cms/services/strategic-default/\">What is a strategic default and why should it concern you?</a></strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\n<a href=\"http://h4hconsulting.com/cms/services/strategic-default/\">In this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong></a>','Strategic Default ','','inherit','open','open','','197-revision-7','','','2010-08-11 19:33:17','2010-08-11 19:33:17','',197,'http://h4hconsulting.com/cms/391/197-revision-7/',0,'revision','',0),(393,1,'2010-08-07 00:06:56','2010-08-07 00:06:56','<h1><strong>Welcome to the Video Library!</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgement, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expectin the next few years. See how the unemployment rate and foreclosures are affecting theeconomy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and whichone could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject todeficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>\r\n\r\n<h2></h2>','Video Library','','inherit','open','open','','243-revision-v1','','','2010-08-07 00:06:56','2010-08-07 00:06:56','',243,'http://h4hconsulting.com/cms/393/243-revision-8/',0,'revision','',0),(392,1,'2010-08-11 19:33:36','2010-08-11 19:33:36','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a><a href=\"http://h4hconsulting.com/cms/services/strategic-default/\">What is a strategic default and why should it concern you?</a></strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/services/strategic-default/\">Strategic default, also known as voluntary foreclosure </a>is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\n<a href=\"http://h4hconsulting.com/cms/services/strategic-default/\">In this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong></a>','Strategic Default ','','inherit','open','open','','197-revision-8','','','2010-08-11 19:33:36','2010-08-11 19:33:36','',197,'http://h4hconsulting.com/cms/392/197-revision-8/',0,'revision','',0),(394,1,'2010-08-07 03:33:21','2010-08-07 03:33:21','[youtube]6SN7zpDWL1c[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.','How will a Deficiency Judgment impact me?','','inherit','open','open','','307-revision-5','','','2010-08-07 03:33:21','2010-08-07 03:33:21','',307,'http://h4hconsulting.com/cms/394/307-revision-5/',0,'revision','',0),(395,1,'2010-08-07 03:33:35','2010-08-07 03:33:35','<div>\r\n\r\n[youtube]WWVcnfXlRdo[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','How does foreclosure or short sale affect my credit?','','inherit','open','open','','312-revision-4','','','2010-08-07 03:33:35','2010-08-07 03:33:35','',312,'http://h4hconsulting.com/cms/395/312-revision-4/',0,'revision','',0),(396,1,'2010-08-11 19:48:19','2010-08-11 19:48:19','<h1><strong>Welcome to the Video Library!</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgement, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expectin the next few years. See how the unemployment rate and foreclosures are affecting theeconomy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and whichone could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject todeficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','Video Library','','inherit','open','open','','243-revision-v1','','','2010-08-11 19:48:19','2010-08-11 19:48:19','',243,'http://h4hconsulting.com/cms/396/243-revision-9/',0,'revision','',0),(397,1,'2010-08-11 19:49:07','2010-08-11 19:49:07','[youtube]6SN7zpDWL1c[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.','How will a Deficiency Judgment impact me?','','inherit','open','open','','307-revision-6','','','2010-08-11 19:49:07','2010-08-11 19:49:07','',307,'http://h4hconsulting.com/cms/397/307-revision-6/',0,'revision','',0),(398,1,'2010-08-11 19:31:13','2010-08-11 19:31:13','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment','','inherit','open','open','','193-revision-14','','','2010-08-11 19:31:13','2010-08-11 19:31:13','',193,'http://h4hconsulting.com/cms/398/193-revision-14/',0,'revision','',0),(399,1,'2010-08-11 19:35:39','2010-08-11 19:35:39','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a>What is a strategic default and why should it concern you?</strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-9','','','2010-08-11 19:35:39','2010-08-11 19:35:39','',197,'http://h4hconsulting.com/cms/399/197-revision-9/',0,'revision','',0),(400,1,'2010-08-11 19:55:30','2010-08-11 19:55:30','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a>What is a strategic default and why should it concern you?</strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-10','','','2010-08-11 19:55:30','2010-08-11 19:55:30','',197,'http://h4hconsulting.com/cms/400/197-revision-10/',0,'revision','',0),(401,1,'2010-08-11 19:50:43','2010-08-11 19:50:43','<h1><strong>Welcome to the Video Library!</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgement, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expectin the next few years. See how the unemployment rate and foreclosures are affecting theeconomy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and whichone could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject todeficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','Video Library','','inherit','open','open','','243-revision-v1','','','2010-08-11 19:50:43','2010-08-11 19:50:43','',243,'http://h4hconsulting.com/cms/401/243-revision-10/',0,'revision','',0),(402,1,'2010-08-11 20:00:31','2010-08-11 20:00:31','<h1><strong>Welcome to the Video Library!</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgement, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expectin the next few years. See how the unemployment rate and foreclosures are affecting theeconomy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and whichone could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject todeficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','Video Library','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:00:31','2010-08-11 20:00:31','',243,'http://h4hconsulting.com/cms/402/243-revision-11/',0,'revision','',0),(404,1,'2010-08-11 20:02:11','2010-08-11 20:02:11','<h1><strong>Welcome to our webinar!</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgement, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expectin the next few years. See how the unemployment rate and foreclosures are affecting theeconomy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and whichone could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject todeficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','Webinar','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:02:11','2010-08-11 20:02:11','',243,'http://h4hconsulting.com/cms/404/243-revision-13/',0,'revision','',0),(405,1,'2010-08-11 20:02:44','2010-08-11 20:02:44','<h1><strong>Welcome to our webinar!</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgment, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expectin the next few years. See how the unemployment rate and foreclosures are affecting theeconomy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and whichone could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject to deficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','Webinar','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:02:44','2010-08-11 20:02:44','',243,'http://h4hconsulting.com/cms/405/243-revision-14/',0,'revision','',0),(406,1,'2010-08-11 20:03:23','2010-08-11 20:03:23','<h1><strong>Welcome to our webinar!</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgment, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expecting the next few years. See how the unemployment rate and foreclosures are affecting the economy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and which one could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject to deficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','Webinar','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:03:23','2010-08-11 20:03:23','',243,'http://h4hconsulting.com/cms/406/243-revision-15/',0,'revision','',0),(407,1,'2010-08-11 19:51:16','2010-08-11 19:51:16','[youtube]6SN7zpDWL1c[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.','How will a Deficiency Judgment impact me?','','inherit','open','open','','307-revision-7','','','2010-08-11 19:51:16','2010-08-11 19:51:16','',307,'http://h4hconsulting.com/cms/407/307-revision-7/',0,'revision','',0),(408,1,'2010-08-11 19:54:01','2010-08-11 19:54:01','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment','','inherit','open','open','','193-revision-15','','','2010-08-11 19:54:01','2010-08-11 19:54:01','',193,'http://h4hconsulting.com/cms/408/193-revision-15/',0,'revision','',0),(409,1,'2010-08-11 20:05:08','2010-08-11 20:05:08','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment Text','','inherit','open','open','','193-revision-16','','','2010-08-11 20:05:08','2010-08-11 20:05:08','',193,'http://h4hconsulting.com/cms/409/193-revision-16/',0,'revision','',0),(451,1,'2010-08-11 20:53:31','2010-08-11 20:53:31','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment Definition','','inherit','open','open','','193-revision-19','','','2010-08-11 20:53:31','2010-08-11 20:53:31','',193,'http://h4hconsulting.com/cms/451/193-revision-19/',0,'revision','',0),(440,1,'2010-08-11 20:30:42','2010-08-11 20:30:42','<h1><strong>Welcome to our Frequently Asked Questions Videos!!!\r\n</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgment, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expecting the next few years. See how the unemployment rate and foreclosures are affecting the economy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and which one could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject to deficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','FAQ Videos','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:30:42','2010-08-11 20:30:42','',243,'http://h4hconsulting.com/cms/440/243-revision-20/',0,'revision','',0),(410,1,'2010-08-11 20:04:34','2010-08-11 20:04:34','[youtube]6SN7zpDWL1c[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.','How will a Deficiency Judgment impact me?','','inherit','open','open','','307-revision-8','','','2010-08-11 20:04:34','2010-08-11 20:04:34','',307,'http://h4hconsulting.com/cms/410/307-revision-8/',0,'revision','',0),(411,1,'2010-08-07 03:33:52','2010-08-07 03:33:52','<div>\r\n\r\n[youtube]K3do75NZKvo[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','Do I need to be late on my payments in order to qualify?','','inherit','open','open','','314-revision-3','','','2010-08-07 03:33:52','2010-08-07 03:33:52','',314,'http://h4hconsulting.com/cms/411/314-revision-3/',0,'revision','',0),(412,1,'2010-08-07 03:34:33','2010-08-07 03:34:33','<div>\r\n\r\n[youtube]IDTpu6rLg5k[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','Should we continue to talk to the bank after we hire an attorney?','','inherit','open','open','','317-revision-5','','','2010-08-07 03:34:33','2010-08-07 03:34:33','',317,'http://h4hconsulting.com/cms/412/317-revision-5/',0,'revision','',0),(413,1,'2010-08-07 03:34:52','2010-08-07 03:34:52','<div>\r\n\r\n[youtube]M3MTfWdgCak[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','How long can we expect to stay in the home after foreclosure has begun?','','inherit','open','open','','319-revision-4','','','2010-08-07 03:34:52','2010-08-07 03:34:52','',319,'http://h4hconsulting.com/cms/413/319-revision-4/',0,'revision','',0),(414,1,'2010-08-07 03:35:06','2010-08-07 03:35:06','<div>\r\n\r\n[youtube]yyb0n4VQLOU[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','Should I continue to pay my HOA fees during Foreclosure?','','inherit','open','open','','325-revision-3','','','2010-08-07 03:35:06','2010-08-07 03:35:06','',325,'http://h4hconsulting.com/cms/414/325-revision-3/',0,'revision','',0),(415,1,'2010-08-11 20:13:46','2010-08-11 20:13:46','<div>\r\n\r\n[youtube]yyb0n4VQLOU[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','Should I continue to pay my HOA fees during Foreclosure?','','inherit','open','open','','325-revision-4','','','2010-08-11 20:13:46','2010-08-11 20:13:46','',325,'http://h4hconsulting.com/cms/415/325-revision-4/',0,'revision','',0),(416,1,'2010-08-07 03:35:20','2010-08-07 03:35:20','<div>\r\n\r\n[youtube]jpezg9F8Cs4[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','What is a Short Sale?','','inherit','open','open','','327-revision-3','','','2010-08-07 03:35:20','2010-08-07 03:35:20','',327,'http://h4hconsulting.com/cms/416/327-revision-3/',0,'revision','',0),(417,1,'2010-08-10 19:33:16','2010-08-10 19:33:16','<div>\r\n\r\n[youtube]at6qxDt0RG8[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','What is a Deed In Lieu?','','inherit','open','open','','329-revision-4','','','2010-08-10 19:33:16','2010-08-10 19:33:16','',329,'http://h4hconsulting.com/cms/417/329-revision-4/',0,'revision','',0),(418,1,'2010-08-07 03:35:55','2010-08-07 03:35:55','<div>\r\n\r\n[youtube]Zas3AWaDuts[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','What is a Loan Modification?','','inherit','open','open','','331-revision-3','','','2010-08-07 03:35:55','2010-08-07 03:35:55','',331,'http://h4hconsulting.com/cms/418/331-revision-3/',0,'revision','',0),(419,1,'2010-08-07 03:36:08','2010-08-07 03:36:08','<div>\r\n\r\n[youtube]bPjay2Wi3Os[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','What happens to a spouse who has signed the deed/mortgage but not the note?','','inherit','open','open','','333-revision-3','','','2010-08-07 03:36:08','2010-08-07 03:36:08','',333,'http://h4hconsulting.com/cms/419/333-revision-3/',0,'revision','',0),(420,1,'2010-08-11 19:49:59','2010-08-11 19:49:59','<div>\r\n\r\n[youtube]WWVcnfXlRdo[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','How does foreclosure or short sale affect my credit?','','inherit','open','open','','312-revision-5','','','2010-08-11 19:49:59','2010-08-11 19:49:59','',312,'http://h4hconsulting.com/cms/420/312-revision-5/',0,'revision','',0),(421,1,'2010-08-11 20:17:46','2010-08-11 20:17:46','<div>\r\n\r\n[youtube]WWVcnfXlRdo[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','How does foreclosure or short sale affect my credit?','','inherit','open','open','','312-revision-6','','','2010-08-11 20:17:46','2010-08-11 20:17:46','',312,'http://h4hconsulting.com/cms/421/312-revision-6/',0,'revision','',0),(422,1,'2010-08-07 03:36:21','2010-08-07 03:36:21','<div>\r\n\r\n[youtube]QbUD5pNQBVg[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','How much does foreclosure defense cost?','','inherit','open','open','','335-revision-4','','','2010-08-07 03:36:21','2010-08-07 03:36:21','',335,'http://h4hconsulting.com/cms/422/335-revision-4/',0,'revision','',0),(427,1,'2010-08-11 20:25:33','2010-08-11 20:25:33','','Auto Draft','','inherit','open','open','','426-revision-v1','','','2010-08-11 20:25:33','2010-08-11 20:25:33','',426,'http://h4hconsulting.com/cms/427/426-revision/',0,'revision','',0),(428,1,'2010-08-11 20:25:45','2010-08-11 20:25:45','','Webinar','','inherit','open','open','','426-revision-v1','','','2010-08-11 20:25:45','2010-08-11 20:25:45','',426,'http://h4hconsulting.com/cms/428/426-revision-2/',0,'revision','',0),(429,1,'2010-08-10 19:46:35','2010-08-10 19:46:35','<h2>Frequently Asked Questions in Foreclosure Defense</h2>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: normal; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n</div>','FAQ','','inherit','open','open','','218-revision-v1','','','2010-08-10 19:46:35','2010-08-10 19:46:35','',218,'http://h4hconsulting.com/cms/429/218-revision-15/',0,'revision','',0),(430,1,'2010-08-11 20:24:26','2010-08-11 20:24:26','<h1><strong>Welcome to our Webinar!</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgment, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expecting the next few years. See how the unemployment rate and foreclosures are affecting the economy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and which one could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject to deficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','FAQ2','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:24:26','2010-08-11 20:24:26','',243,'http://h4hconsulting.com/cms/430/243-revision-17/',0,'revision','',0),(431,1,'2010-08-11 20:28:24','2010-08-11 20:28:24','<h1><strong>Welcome to our Webinar!</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgment, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expecting the next few years. See how the unemployment rate and foreclosures are affecting the economy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and which one could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject to deficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','FAQ','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:28:24','2010-08-11 20:28:24','',243,'http://h4hconsulting.com/cms/431/243-revision-18/',0,'revision','',0),(432,1,'2010-08-11 20:28:56','2010-08-11 20:28:56','<h1><strong>Welcome to our Frequently Asked Questions!!\r\n</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgment, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expecting the next few years. See how the unemployment rate and foreclosures are affecting the economy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and which one could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject to deficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','FAQ','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:28:56','2010-08-11 20:28:56','',243,'http://h4hconsulting.com/cms/432/243-revision-19/',0,'revision','',0),(441,1,'2010-08-11 20:26:19','2010-08-11 20:26:19','','Webinar','','inherit','open','open','','426-revision-v1','','','2010-08-11 20:26:19','2010-08-11 20:26:19','',426,'http://h4hconsulting.com/cms/441/426-revision-3/',0,'revision','',0),(433,1,'2010-08-07 00:10:57','2010-08-07 00:10:57','[events-calendar-large]','Calendar','','inherit','open','open','','76-revision-21','','','2010-08-07 00:10:57','2010-08-07 00:10:57','',76,'http://h4hconsulting.com/cms/433/76-revision-21/',0,'revision','',0),(434,1,'2010-08-11 20:27:22','2010-08-11 20:27:22','<h2>Frequently Asked Questions in Foreclosure Defense</h2>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: normal; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n</div>','FAQ3','','inherit','open','open','','218-revision-v1','','','2010-08-11 20:27:22','2010-08-11 20:27:22','',218,'http://h4hconsulting.com/cms/434/218-revision-16/',0,'revision','',0),(435,1,'2010-08-11 20:32:13','2010-08-11 20:32:13','<h2>Frequently Asked Questions in Foreclosure Defense</h2>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: normal; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n</div>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 20:32:13','2010-08-11 20:32:13','',218,'http://h4hconsulting.com/cms/435/218-revision-17/',0,'revision','',0),(459,1,'2010-08-11 21:15:02','2010-08-11 21:15:02','','Do you know what a Deficiency Judgment is and how it could harm you financially','Def Judgment','inherit','open','open','','do-you-know-what-a-deficiency-judgment-is-and-how-it-could-harm-you-financially','','','2010-08-11 21:15:02','2010-08-11 21:15:02','',218,'http://h4hconsulting.com/cms/wp-content/uploads/2010/08/Do-you-know-what-a-Deficiency-Judgment-is-and-how-it-could-harm-you-financially.doc',0,'attachment','application/msword',0),(436,1,'2010-08-11 20:32:30','2010-08-11 20:32:30','<h2>Frequently Asked Questions in Foreclosure Defense</h2>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: normal; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n</div>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 20:32:30','2010-08-11 20:32:30','',218,'http://h4hconsulting.com/cms/436/218-revision-18/',0,'revision','',0),(446,1,'2010-08-11 20:46:39','2010-08-11 20:46:39','<h2>Frequently Asked Questions  Videos in Foreclosure Defense</h2>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a>','FAQ Videos','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:46:39','2010-08-11 20:46:39','',243,'http://h4hconsulting.com/cms/446/243-revision-22/',0,'revision','',0),(437,1,'2010-08-11 20:36:27','2010-08-11 20:36:27','<h2>Frequently Asked Questions in Foreclosure Defense</h2>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: normal; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n</div>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 20:36:27','2010-08-11 20:36:27','',218,'http://h4hconsulting.com/cms/437/218-revision-19/',0,'revision','',0),(438,1,'2010-08-11 20:36:52','2010-08-11 20:36:52','<h2>Frequently Asked Questions in Foreclosure Defense</h2>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: normal; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n</div>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 20:36:52','2010-08-11 20:36:52','',218,'http://h4hconsulting.com/cms/438/218-revision-20/',0,'revision','',0),(439,1,'2010-08-11 19:55:59','2010-08-11 19:55:59','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a>What is a strategic default and why should it concern you?</strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-11','','','2010-08-11 19:55:59','2010-08-11 19:55:59','',197,'http://h4hconsulting.com/cms/439/197-revision-11/',0,'revision','',0),(442,1,'2010-08-11 20:44:53','2010-08-11 20:44:53','<h1><strong>Welcome to our Webinar!!\r\n</strong></h1>\r\nDistressed  property expert Chris Sommer and Foreclosure Attorney Ross Spano answer  your questions about Foreclosure Defense, Strategic Default, Deficiency  Judgment, Deed in Lieu, and all the options available for you to save  your home and your credit.\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and  foreclosure attorney discussing the info you need to be aware of in the  current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and  what you can expecting the next few years. See how the unemployment rate  and foreclosures are affecting the economy – and your ability to settle  on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and which one could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n\r\n<strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the  results they wanted throughshort sale, deed in lieu and loan  modification.\r\n[youtube]V-Inq_Q21rY[/youtube]\r\n\r\n<strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if  you will be subject to deficiency judgment if you short sale your home  or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]\r\n\r\n<strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]\r\n\r\n<strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered  about foreclosure,loan modification and short sale. Learn how to resolve  your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]','Webinar','','inherit','open','open','','426-revision-v1','','','2010-08-11 20:44:53','2010-08-11 20:44:53','',426,'http://h4hconsulting.com/cms/442/426-revision-4/',0,'revision','',0),(443,1,'2010-08-11 20:43:40','2010-08-11 20:43:40','<h1><strong>Welcome to our Webinar!!\r\n</strong></h1>\r\n<p style=\"text-align: left;\">Distressed property expert Chris Sommer and Foreclosure Attorney Ross Spano answer your questions about Foreclosure Defense, Strategic Default, Deficiency Judgment, Deed in Lieu, and all the options available for you to save your home and your credit.</p>\r\n\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<p style=\"text-align: left;\"></p>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and foreclosure attorney discussing the info you need to be aware of in the current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and what you can expecting the next few years. See how the unemployment rate and foreclosures are affecting the economy – and your ability to settle on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and which one could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n<p style=\"text-align: left;\"><strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the results they wanted throughshort sale, deed in lieu and loan modification.\r\n[youtube]V-Inq_Q21rY[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if you will be subject to deficiency judgment if you short sale your home or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]</p>\r\n<p style=\"text-align: left;\"><strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered about foreclosure,loan modification and short sale. Learn how to resolve your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]</p>','Webinar P','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:43:40','2010-08-11 20:43:40','',243,'http://h4hconsulting.com/cms/443/243-revision-21/',0,'revision','',0),(444,1,'2010-08-11 20:45:34','2010-08-11 20:45:34','<h1><strong>Welcome to our Webinar!!\r\n</strong></h1>\r\nDistressed  property expert Chris Sommer and Foreclosure Attorney Ross Spano answer  your questions about Foreclosure Defense, Strategic Default, Deficiency  Judgment, Deed in Lieu, and all the options available for you to save  your home and your credit.\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and  foreclosure attorney discussing the info you need to be aware of in the  current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and  what you can expecting the next few years. See how the unemployment rate  and foreclosures are affecting the economy – and your ability to settle  on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and which one could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n\r\n<strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the  results they wanted throughshort sale, deed in lieu and loan  modification.\r\n[youtube]V-Inq_Q21rY[/youtube]\r\n\r\n<strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if  you will be subject to deficiency judgment if you short sale your home  or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]\r\n\r\n<strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]\r\n\r\n<strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered  about foreclosure,loan modification and short sale. Learn how to resolve  your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]','Webinar','','inherit','open','open','','426-revision-v1','','','2010-08-11 20:45:34','2010-08-11 20:45:34','',426,'http://h4hconsulting.com/cms/444/426-revision-5/',0,'revision','',0),(445,1,'2010-08-11 20:37:40','2010-08-11 20:37:40','<h2>Frequently Asked Questions in Foreclosure Defense</h2>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: normal; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n\r\n<span style=\"font-family: arial; line-height: 45px; font-size: 11px;\"> </span>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n</div>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 20:37:40','2010-08-11 20:37:40','',218,'http://h4hconsulting.com/cms/445/218-revision-21/',0,'revision','',0),(447,1,'2010-08-11 20:48:15','2010-08-11 20:48:15','','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 20:48:15','2010-08-11 20:48:15','',218,'http://h4hconsulting.com/cms/447/218-revision-22/',0,'revision','',0),(463,1,'2010-08-11 21:30:24','2010-08-11 21:30:24','<strong>Do you know what a Deficiency Judgment is and how it could harm you financially?\r\n</strong>\r\n\r\n<a href=\"http://h4hconsulting.com/cms/video-library/faq/strategic-default\" target=\"_blank\"><strong>What is a Strategic Default and is it for me?</strong></a>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 21:30:24','2010-08-11 21:30:24','',218,'http://h4hconsulting.com/cms/463/218-revision-27/',0,'revision','',0),(464,1,'2010-08-11 21:30:36','2010-08-11 21:30:36','<strong>Do you know what a Deficiency Judgment is and how it could harm you financially?\r\n</strong>\r\n\r\n<a href=\"http://h4hconsulting.com/cms/video-library/faq/strategic-default\" target=\"_blank\"><strong>What is a Strategic Default and is it for me?</strong></a>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 21:30:36','2010-08-11 21:30:36','',218,'http://h4hconsulting.com/cms/464/218-revision-28/',0,'revision','',0),(465,1,'2010-08-11 21:02:30','2010-08-11 21:02:30','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment Definition','','inherit','open','open','','193-revision-21','','','2010-08-11 21:02:30','2010-08-11 21:02:30','',193,'http://h4hconsulting.com/cms/465/193-revision-21/',0,'revision','',0),(448,1,'2010-08-11 20:52:14','2010-08-11 20:52:14','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 20:52:14','2010-08-11 20:52:14','',218,'http://h4hconsulting.com/cms/448/218-revision-23/',0,'revision','',0),(449,1,'2010-08-11 20:05:37','2010-08-11 20:05:37','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment Definition','','inherit','open','open','','193-revision-17','','','2010-08-11 20:05:37','2010-08-11 20:05:37','',193,'http://h4hconsulting.com/cms/449/193-revision-17/',0,'revision','',0),(450,1,'2010-08-11 20:53:06','2010-08-11 20:53:06','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment Definition','','inherit','open','open','','193-revision-18','','','2010-08-11 20:53:06','2010-08-11 20:53:06','',193,'http://h4hconsulting.com/cms/450/193-revision-18/',0,'revision','',0),(452,1,'2010-08-11 20:38:19','2010-08-11 20:38:19','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a>What is a strategic default and why should it concern you?</strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-12','','','2010-08-11 20:38:19','2010-08-11 20:38:19','',197,'http://h4hconsulting.com/cms/452/197-revision-12/',0,'revision','',0),(453,1,'2010-08-11 20:55:42','2010-08-11 20:55:42','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a>What is a strategic default and why should it concern you?</strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-13','','','2010-08-11 20:55:42','2010-08-11 20:55:42','',197,'http://h4hconsulting.com/cms/453/197-revision-13/',0,'revision','',0),(454,1,'2010-08-26 18:21:52','2010-08-26 18:21:52','To learn the TRUTH about Loan Modifications and receive our <strong>free download</strong>, \"Loan Modification: Tips and Best Practices\", please submit the form below.','Free Download Request','','inherit','open','open','','238-autosave','','','2010-08-26 18:21:52','2010-08-26 18:21:52','',238,'http://h4hconsulting.com/cms/454/238-autosave/',0,'revision','',0),(455,1,'2010-07-06 20:34:21','2010-07-06 20:34:21','To receive our free download, \"Loan Modification: Tips and Best Practices\", please submit the form below.','Free Download Request','','inherit','open','open','','238-revision-2','','','2010-07-06 20:34:21','2010-07-06 20:34:21','',238,'http://h4hconsulting.com/cms/455/238-revision-2/',0,'revision','',0),(456,1,'2010-08-11 20:54:28','2010-08-11 20:54:28','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment Definition','','inherit','open','open','','193-revision-20','','','2010-08-11 20:54:28','2010-08-11 20:54:28','',193,'http://h4hconsulting.com/cms/456/193-revision-20/',0,'revision','',0),(457,1,'2010-08-11 20:55:46','2010-08-11 20:55:46','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a>What is a strategic default and why should it concern you?</strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-14','','','2010-08-11 20:55:46','2010-08-11 20:55:46','',197,'http://h4hconsulting.com/cms/457/197-revision-14/',0,'revision','',0),(458,1,'2010-08-11 20:52:50','2010-08-11 20:52:50','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 20:52:50','2010-08-11 20:52:50','',218,'http://h4hconsulting.com/cms/458/218-revision-24/',0,'revision','',0),(466,1,'2010-08-11 21:25:10','2010-08-11 21:25:10','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a><a href=\"http://\">What is a strategic default and why should it concern you?</a></strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-16','','','2010-08-11 21:25:10','2010-08-11 21:25:10','',197,'http://h4hconsulting.com/cms/466/197-revision-16/',0,'revision','',0),(531,1,'2010-08-16 15:13:13','2010-08-16 15:13:13','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a>What is a strategic default and why should it concern you?</strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-19','','','2010-08-16 15:13:13','2010-08-16 15:13:13','',197,'http://h4hconsulting.com/cms/531/197-revision-19/',0,'revision','',0),(469,1,'2010-08-12 02:27:51','2010-08-12 02:27:51','','Blog','','inherit','open','open','','467-revision-2','','','2010-08-12 02:27:51','2010-08-12 02:27:51','',467,'http://h4hconsulting.com/cms/469/467-revision-2/',0,'revision','',0),(576,1,'2010-08-19 16:11:22','2010-08-19 16:11:22','<a title=\"970 WFLA Hope for Homeowners\" href=\"http://media.ccomrcdn.com/media/station_content/1139/TBT_06-20-10_1276897312_24583.mp3?CPROG=PCAST&amp;MARKET=TAMPA-FL&amp;NG_FORMAT=&amp;SITE_ID=1139&amp;STATION_ID=WFLA-AM&amp;PCAST_AUTHOR=970_WFLA&amp;PCAST_CAT=News&amp;PCAST_TITLE=with_970_WFLA%27s_Matt_McClain\" target=\"_blank\">Listen to Hope for Homeowners Chris Sommer on 970 WFLA Tampa Bay dated 6-20-2010!</a>','Hope for Homeowners on 970 WFLA','','publish','open','open','','576','','','2010-09-02 18:18:52','2010-09-02 18:18:52','',0,'http://h4hconsulting.com/cms/?p=576',0,'post','',0),(640,1,'2010-09-02 18:17:07','2010-09-02 18:17:07','Listen to Hope for Homeowners Chris Sommer on 970 WFLA Tampa Bay dated 6-20-2010!','http://media.ccomrcdn.com/media/station_content/1139/TBT_06-20-10_1276897312_24583.mp3?CPROG=PCAST&MARKET=TAMPA-FL&NG_FORMAT=&SITE_ID=1139&STATION_ID=WFLA-AM&PCAST_AUTHOR=970_WFLA&PCAST_CAT=News&PCAST_TITLE=with_970_WFLA%27s_Matt_McClain','','inherit','open','open','','576-revision-6','','','2010-09-02 18:17:07','2010-09-02 18:17:07','',576,'http://h4hconsulting.com/cms/640/576-revision-6/',0,'revision','',0),(471,1,'2010-08-11 20:48:45','2010-08-11 20:48:45','<h2>Frequently Asked Questions  Videos in Foreclosure Defense</h2>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a>','FAQ Videos','','inherit','open','open','','243-revision-v1','','','2010-08-11 20:48:45','2010-08-11 20:48:45','',243,'http://h4hconsulting.com/cms/471/243-revision-23/',0,'revision','',0),(472,1,'2010-08-10 20:34:25','2010-08-10 20:34:25','<h2>Watch our free Foreclosure Advice Webinar!</h2>\r\n<div id=\"_mcePaste\">\r\n<div style=\"line-height: 1.8em;\">\r\n<div><span style=\"font-family: Consolas, Monaco, \'Courier New\', Courier, monospace;\"><span style=\"line-height: 22px;\"><a href=\"http://h4hconsulting.com/cms/services/request-password/\"><img class=\"alignnone size-full wp-image-289\" title=\"H4HC Video Library\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/video.jpg\" alt=\"\" width=\"599\" height=\"361\" /></a></span></span></div>\r\n<ul>\r\n	<li><strong>Are you upside down on your home?<a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/family.jpg\"><img class=\"size-full wp-image-10 alignright\" title=\"Help for homeowners is only a click away.\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/family.jpg\" alt=\"Help for homeowners is only a click away.\" width=\"304\" height=\"202\" /></a></strong><strong> </strong></li>\r\n	<li><strong>Do you know what a <a title=\"What is a Deficiency Judgement?\" href=\"http://h4hconsulting.com/cms/faq/deficiency-judgment/\">Deficiency Judgment</a></strong><strong> is and how it could harm you financially?</strong></li>\r\n	<li><strong>What is a <a title=\"What is a strategic default?\" href=\"http://h4hconsulting.com/cms/faq/strategic-default/\">strategic default</a></strong><strong> and why should it concern you?</strong></li>\r\n	<li><strong>Are you, or do you know an investor with multiple properties who\'s losing money?</strong></li>\r\n	<li><strong>Have you recently lost a job and fallen behind on your mortgage? </strong>\r\n<div style=\"height: 0.8em; visibility: hidden;\"><strong>.</strong></div>\r\n<strong> </strong></li>\r\n</ul>\r\n</div>\r\n</div>\r\n<div id=\"_mcePaste\">\r\n\r\n<img class=\"alignleft size-full wp-image-68\" style=\"margin-left: 10px; margin-right: 20px;\" title=\"Chris Sommer\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/ChrisSmall.jpg\" alt=\"\" width=\"112\" height=\"139\" />\r\n<div style=\"height: 0.8em; visibility: hidden;\">.</div>\r\nHello, my name is Chris Sommer, Managing Director with Hope for Homeowners Consulting. We provide solutions to these and other challenges that today\'s economy presents to homeowners.\r\n\r\n</div>\r\n<div style=\"height: 2.2em; visibility: hidden;\">.</div>\r\n<div style=\"height: 1.2em; visibility: hidden;\">.</div>\r\n<div><strong>Our solutions include</strong>:</div>\r\n<div id=\"_mcePaste\">\r\n<ul>\r\n	<li>Foreclosure Defense</li>\r\n	<li>Short sale</li>\r\n	<li>Property management</li>\r\n	<li>Loan modification</li>\r\n</ul>\r\n<em><strong> Many other services may be available.....</strong></em>\r\n\r\n</div>\r\n<div id=\"_mcePaste\">We will tailor a solution that meets your specific needs, and support you throughout the process from beginning to end.</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/?page_id=48\"><img class=\"aligncenter size-full wp-image-58\" style=\"margin-top: 20px; margin-bottom: 20px;\" title=\"Fight Back &amp; Get Started Now!\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/start.png\" alt=\"\" width=\"300\" height=\"73\" /></a></div>','Home','','inherit','open','open','','5-revision-v1','','','2010-08-10 20:34:25','2010-08-10 20:34:25','',5,'http://h4hconsulting.com/cms/472/5-revision-74/',0,'revision','',0),(473,1,'2010-08-07 03:12:30','2010-08-07 03:12:30','','How will a Deficiency Judgment impact me?','','inherit','open','open','','305-revision','','','2010-08-07 03:12:30','2010-08-07 03:12:30','',305,'http://h4hconsulting.com/cms/473/305-revision/',0,'revision','',0),(474,1,'2010-08-11 16:18:36','2010-08-11 16:18:36','<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-94\" title=\"services_07\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_07.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Loan Modification</strong>\r\n\r\nA mortgage modification generally occurs when both parties (borrower and lender) to a problem loan mutually agree to work out the issues by creating new and better loan terms. The hope is that the new improved mortgage will enable the borrower to meet their obligations and avoid foreclosure. But is a loan modification the best solution? We can help you find the best option for your situation.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-95\" title=\"services_10\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_10.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Short Sales</strong>\r\n\r\nWhen lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales. But a short sale may be one of the best options available for you in this market. We will work with you to consider a short sale, as well as handle the lender communication and apply any pressure needed to get the best outcome for you.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-96\" title=\"services_12\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_12.jpg\" alt=\"\" width=\"106\" height=\"105\" /></td>\r\n<td><strong>Property Management</strong>\r\n\r\nOur mission is to ensure that every property owner has a competent and honest professional to manage their most valuable asset. Property management can be an option for homeowners looking to offset their mortgage payment or legal defense. The responsibility of maintaining and running the property can be overwhelming. For many homeowners, the logical solution is to hire a property management company to oversee their rental property.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-97\" title=\"services_14\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_14.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Credit Repair</strong>\r\n\r\nYour situation is unique. And our personal approach to credit repair utilizes the widest range of tools available to address your requirements - and insure that you get the results you deserve. We will evaluate your credit reports and develop a plan based on your needs. And as we continue to manage your account we will tailor our services to events as they arise. Whether you need to clean up your credit reports, rebuild your credit, boost your credit scores, or deal with active collection accounts, we offer the most appropriate and efficient solution.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><img class=\"alignnone size-full wp-image-98\" title=\"services_16\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_16.jpg\" alt=\"\" width=\"106\" height=\"106\" /></td>\r\n<td><strong>Debt Settlement</strong>\r\n\r\nWe offer a settlement program wherein we negotiate with your creditors and collection agencies in order to settle the debt for less than what you owe. With proper help you can lower your monthly payments, reduce interest rates, waive late fees, eliminate collection calls, avoid bankruptcy, have only one monthly payment, and become debt free. Keep in mind, however, your credit score is likely to go down when you stop paying creditors and save money for debt settlement.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>','Services','','inherit','open','open','','27-revision-v1','','','2010-08-11 16:18:36','2010-08-11 16:18:36','',27,'http://h4hconsulting.com/cms/474/27-revision-14/',0,'revision','',0),(475,1,'2010-06-23 18:54:32','2010-06-23 18:54:32','At H4H Consulting, we have an experienced team of professionals and relationships with some of the area’s best real estate agents, property managers and attorneys.\r\n\r\nThe three \'Homeowner Rescue\' package options listed below provide all the tools necessary to solve your specific challenge. All three options begin with an in depth personal consultation, and a written action plan which will act as your roadmap to solving your specific challenges! The three options provide an increasing level of service, culminating with Package \'C\' which gives you the opportunity to utilize any/all options needed to put you back on the path to financial stability! Order Package A or B above, and upgrade anytime! Simply pay the difference for another package.\r\n<div style=\"height: 1.6em; visibility: hidden;\">.</div>\r\n<h2>Order online today and get your first month\'s service free!</h2>\r\n<div style=\"height: 1em; visibility: hidden;\">.</div>\r\n<h2>Package Options</h2>\r\n<a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><img title=\"Package Options\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/packages1.jpg\" alt=\"\" width=\"501\" height=\"600\" /></a>','Homeowners','','inherit','open','open','','48-revision-16','','','2010-06-23 18:54:32','2010-06-23 18:54:32','',48,'http://h4hconsulting.com/cms/475/48-revision-16/',0,'revision','',0),(476,1,'2010-08-12 14:42:21','2010-08-12 14:42:21','At H4H Consulting, we have an experienced team of professionals and relationships with some of the area’s best real estate agents, property managers and attorneys.\r\n\r\nThe three \'Homeowner Rescue\' package options listed below provide all the tools necessary to solve your specific challenge. All three options begin with an in depth personal consultation, and a written action plan which will act as your road map to solving your specific challenges! The three options provide an increasing level of service, culminating with Package \'C\' which gives you the opportunity to utilize any/all options needed to put you back on the path to financial stability! Order Package A or B above, and upgrade anytime! Simply pay the difference for another package.\r\n<div style=\"height: 1.6em; visibility: hidden;\">.</div>\r\n<h2>Order online today and get your first month\'s service free!</h2>\r\n<div style=\"height: 1em; visibility: hidden;\">.</div>\r\n<h2>Package Options</h2>\r\n<a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><img title=\"Package Options\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/packages1.jpg\" alt=\"\" width=\"501\" height=\"600\" /></a>','Homeowners','','inherit','open','open','','48-revision-17','','','2010-08-12 14:42:21','2010-08-12 14:42:21','',48,'http://h4hconsulting.com/cms/476/48-revision-17/',0,'revision','',0),(477,1,'2010-06-30 16:00:39','2010-06-30 16:00:39','<strong>Written Action Plan</strong> - a case specific, created just for you strategic analysis of your financial situation with a Cash Flow and Net Worth Assessment. The Written Action Plan starts with your goals &amp; objectives and evaluates your options according to your personal circumstances. Let the experts at Hope for Homeowners tell you which options and programs are available and which you could qualify for while striving to meet your goals as best we can.  You will be provided a, b, &amp; c options and will know what each entails. Depending on your circumstances, as each option is completed, your plan will lead you to the next favorable alternative.\r\n\r\nHope for Homeowners provides a recommended plan worksheet as well as a detailed time line to be executed by yourself or Hope for Homeowners. This time line will clarify and limit the time involved to limit your expenses while working towards your settlement plan. You will learn short term - right now - specific action items you can do to improve your situation <em>immediately</em>. We tell you what to do, how to do it, why it needs to be done and the time frame it needs to be done in. Your ‘WAP’ plan will deal with debts in both the Short &amp; Long Terms and provide milestones to when you should expect certain action items to be complete.\r\n\r\n<em>Members who enroll in Packages A&amp;B will get an abbreviated version of the Written Action Plan that is more general in nature.</em>\r\n\r\nPLEASE NOTE: We are the only consultants who create a detailed time line in writing because we believe that strongly in the process!\r\n\r\n<strong>Unlimited Email Support</strong> - Don’t rely on one specific industry expert to help you. Take advantage of the knowledge our industry wide experts have on all facets of the distressed property and foreclosure process. Our knowledgeable team will be available to answer your questions throughout the process.\r\n\r\n<strong>Mortgage Judicial Foreclosure Law Summary</strong><strong> </strong>– basic judicial foreclosure time line providing information specific to how the judicial foreclosure process works in the state of Florida.\r\n\r\n<strong>Do Not Call Letters</strong> – customizable letters in accordance with the Fair Debt Collection Practices Act to stop harassing collection calls.\r\n\r\n<strong>Monthly Newsletter</strong> – receive our monthly email with brief, useful updates that provide \"what you can do\" information about the distressed housing industry.\r\n\r\n<strong>Attorney Network &amp; Discounts</strong> – get legal information and great discounts on one-on-one phone consultations with attorneys in our network.\r\n\r\n<strong>Qualified Written Request</strong> –Created by one of the leading foreclosure attorneys in the country. Under the Real Estate Settlement Procedures Act, your mortgage company is required, under penalty for non-compliance, to answer questions pertaining to your loan. This One of a kind document can be customized to your situation and once sent to your lender, will provide full and immediate disclosure including copies of all pertinent information related to your loan. PLEASE NOTE: Once the QWR is sent to your loan company, the servicer cannot provide information to any credit agency regarding any overdue payment during the 60 day period given to the mortgage holder in accordance with the QWR.\r\n\r\n<strong>Free Consultation w/CPA</strong> – get the expertise you need with a tax law CPA as it relates to taxes and tax liability for your situation.\r\n\r\n<strong>Loan Modification Kit – </strong>maximize your best chance for success under the HAMP Program. Be prepared with all the forms you need before you go into negotiations. Learn the Best Practices &amp; Tips from an industry expert on working through a loan modification. Let us help you be more confident by using the all-inclusive package including:  4506 T, Financial Statement,  Loss Mitigation Phone Numbers 1 &amp; 2, Alternatives to Foreclosure , Do Not Contact by Phone, Hardship Letter and Guidelines, Instructions and Best Practices, Loan Modification Checklist,  and No Tax Returns No Pay Stubs No Bank Statements Form.\r\n\r\n<strong>Frequent Monitoring &amp; Status Updates – </strong>Hope for Homeowners Consulting will keep you up to date on any changes in applicable laws &amp; programs as well as follow-up to ensure you reach your goals.\r\n\r\n<strong>SCC Unit &amp; Collection Letters - </strong>Harassing phone calls from debt collectors can not only disrupt your personal life, they can impact your professional life as well. The SCC Unit is a device we lease to you that connects directly to your home phones. Our SCC Unit will manually take over collection calls and advise the caller you have retained a representative to address the purpose of their call and provide them a number to contact for future inquiries. This device will forward all collection calls to a call center where specific language will be read to caller that will initiate and reiterate the Member’s rights under FDCPA.  The creditor will be advised not to call you again as that may be considered harassment per federal and/or state law, now that the caller knows payments can be recovered. Our system also keeps a log of the creditors/collectors for you. The ‘Do Not Call’ letter will contain language to initiate protections provided to individual under the FDCP, which is designed to protect borrowers from unjust collections practices. <em>In short, you will once again be able to answer your home phone with confidence, knowing that you never have to talk to debt collectors again.</em>\r\n\r\n<strong>HAMP Loan Modification Estimate - </strong>The Home Affordable Modification Program requires a calculation of the net present value (NPV) of a modification using a formula developed by the Department of the Treasury. Hope for Homeowners uses this calculation to input certain financial information about your income and the loan. When combined with other data in the Treasury model, these inputs allow us to determine if you would qualify for a loan modification, to estimate what your loan modification savings would be and help you decide if it’s a viable option for you.\r\n\r\n<strong>Personal Consultation – </strong>Be CAREFUL – you could exclude yourself from certain options if you work on your own or with individuals not aware of all the programs and options available. Not everyone has knowledge of all of the scopes of successful settlement.  Real estate agents do real estate, bankruptcy attorneys do bankruptcy; they may not be not familiar with all of the outside industries available to call upon to assist you in the settlement process.   With Hope for Homeowners Consulting you receive all in one industry wide knowledge on all facets of the distressed housing industry, including how each area works individually and cohesively to help you maximize settlement.  There are specific  realistic expectations we <em>know</em> can be done within a certain time frame – if you’re not on that same page, you could end up delaying the process unnecessarily, and any oversights could actually come at your financial expense. With our Personal Consultation Package you gain access to our best relationships in the industry - with network discounts.  At Hope for Homeowners, we provide superior analysis due to the very unique knowledge and skill set of our expert consultants.  You will receive personal consulting to accomplish the best solution for your individual situation, including a comparative market analysis and assessment of your current financial condition. H4H Consulting will complete a detailed Written Action Plan (see Written Action Plan), develop short and long term strategies for you, and expedite the exit strategy that is best for you.\r\n\r\nUse Hope for Homeowners Personal Consultation Package to save as much as you can and get the best results you can within the most realistic time frames!<strong> </strong>','Service Details','','inherit','open','open','','162-revision-5','','','2010-06-30 16:00:39','2010-06-30 16:00:39','',162,'http://h4hconsulting.com/cms/477/162-revision-5/',0,'revision','',0),(478,1,'2010-08-06 18:57:50','2010-08-06 18:57:50','To request a password for the H4HC Video Library, please complete the form below. You will be issued access immediately upon submission.','Request Password','','inherit','open','open','','285-revision-2','','','2010-08-06 18:57:50','2010-08-06 18:57:50','',285,'http://h4hconsulting.com/cms/478/285-revision-2/',0,'revision','',0),(479,1,'2010-08-11 18:59:40','2010-08-11 18:59:40','Do you think a Foreclosure Defense practice can’t be profitable? Think Again….\r\n\r\n* Six million families are more than two months behind with their payments.\r\n* 200,000 more families receive foreclosure notices each month.\r\n\r\nOf those, only 1% are being defended in FL\r\n\r\nWhat’s missing? Attorneys. Why?\r\n\r\n1. Homeowners assume attorneys are too expensive.\r\n2. Attorneys assume too much liability with little chance of success.\r\n\r\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing &amp; success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\r\n\r\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\r\n\r\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\"></a>','Attorneys -Foreclosure Defense ','','inherit','open','open','','380-revision-6','','','2010-08-11 18:59:40','2010-08-11 18:59:40','',380,'http://h4hconsulting.com/cms/479/380-revision-6/',0,'revision','',0),(480,1,'2010-08-11 19:26:46','2010-08-11 19:26:46','Please complete the following form as completely and accurately as possible. It will be used to determine the very best strategy for your specific financial situation.','Financial Statement','','inherit','open','open','','137-revision-9','','','2010-08-11 19:26:46','2010-08-11 19:26:46','',137,'http://h4hconsulting.com/cms/480/137-revision-9/',0,'revision','',0),(481,1,'2010-08-11 16:18:23','2010-08-11 16:18:23','<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>Located in North Tampa, Florida, Hope for Homeowners Consulting is a distressed property and foreclosure consulting company run by a team of real estate and legal experts with over 23 years of combined experience. It is the objective of Hope for Homeowners Consulting to empower homeowners who purchased their homes at the peak of the real estate market to take control of their financial future.\r\nCo-Founders Chris Sommer and Matt Mitcham, Esq. began with the goal of helping homeowners navigate through the distressed property/foreclosure process and understand foreclosure consequences by providing tools, resources, affordable legal and tax help, support and peace of mind.  Since 2009, Hope for Homeowners Consulting has helped many homeowners prepare and strategically navigate through the distressed property and foreclosure process.\r\n\r\nWe strive to help homeowners understand their rights and know their options by  developing a personalized plan for our members who seek assistance through their distressed property/foreclosure situation. We help members understand and minimize foreclosure consequences, while offering unlimited support and individual attention. Helping homeowners on the frontlines of this market and economy, Hope for Homeowners Consulting is the one of the leading authorities on foreclosure laws &amp; consequences.\r\n\r\n<strong>Management Team</strong><strong> </strong>\r\n\r\n<strong>Chris Sommer</strong>\r\n\r\n<a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Chris-small-S.-BUS-crd-pic-e1279124034397.jpg\"><img class=\"size-thumbnail wp-image-240 alignleft\" title=\"Chris small S. BUS crd pic\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Chris-small-S.-BUS-crd-pic-e1279124034397-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>Chris Sommer has been Managing Director of Hope for Homeowner’s Consulting, LLC since 2009.  With over fourteen years combined experience in banking, finance, real estate and legal services, Chris realized that with this deep recession and housing crisis many homeowners were being taken advantage of by the lenders or those who were attempting to help them.  He routinely witnessed homeowners excluding themselves from certain options by working on their own or with individuals not aware of all the programs and options available. Real estate agents do real estate, bankruptcy attorneys do bankruptcy; they may not be not familiar with all of the outside industries available to call upon to assist you in the settlement process. Not everyone has knowledge of all of the scopes of successful settlement. Chris realized that there was an enormous lack of good information available to homeowners. With that understanding and entrepreneurial drive, Chris helped form HopeforHomeownersConsulting.com by developing an affordable business model that allows homeowners to know their rights, understand foreclosure consequences, leverage industry knowledge &amp; programs, and use the law to their advantage.\r\n\r\nChris Sommer and his wife are proud new parents to a beautiful girl!\r\n\r\n<strong>Matt Mitcham, Esq.</strong>\r\n\r\n<strong> </strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Matt-picture-cropped22.png\"><img class=\"alignleft size-thumbnail wp-image-247\" title=\"Matt picture cropped2\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Matt-picture-cropped22-150x150.png\" alt=\"\" width=\"150\" height=\"150\" /></a>Matt Mitcham is an owner and general counsel of Hope for Homeowners Consulting. Matt focuses his practice on FORECLOSURE DEFENSE, DEFENSE FROM CREDITORS, LOSS MITIGATION, MOTIONS (for early termination of probation, modifications of terms and conditions), FAMILY LAW (contested/uncontested divorces, post judgment matters).\r\n- Son of retired criminal circuit court Judge B. Anderson Mitcham\r\n- Graduated from Jesuit High School 1995\r\n- Graduated with B.A. degree from University of Florida 1998\r\n- Graduated with Juris Doctorate degree from Stetson College of Law 2001\r\n- Certified legal intern with the Hillsborough County State Attorney\'s Office\r\n- Admitted to Florida Bar 2001\r\n- Admitted to the Supreme Court of Florida 2001\r\n- Admitted to the United States Supreme Court 2005\r\n- Admitted to the United States Middle District of Florida Court 2005\r\n- Former Assistant State Attorney with the Hillsborough County State Attorney\'s Office handling DUI, traffic, misdemeanor, juvenile, felony cases - 13th Judicial Circuit - Hillsborough County\r\n- Graduated from Florida Prosecuting Attorney\'s DUI &amp; Advanced DUI Schools\r\n- Adjunct professor at Southwest Florida College\r\n\r\nMatt was born and raised in Tampa, Florida.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>','About Us','','inherit','open','open','','2-revision-v1','','','2010-08-11 16:18:23','2010-08-11 16:18:23','',2,'http://h4hconsulting.com/cms/481/2-revision-19/',0,'revision','',0),(482,1,'2010-08-07 00:07:19','2010-08-07 00:07:19','<strong>1. </strong><strong>Commitment to Clients</strong>\r\n\r\nThe primary responsibility of Hope for Homeowners Consulting is to provide high-quality counseling services to existing homeowners. Hope for Homeowners Consulting will act on behalf of a client and observe his/her best interests.\r\n\r\n<strong>2. </strong><strong>Client Decision-Making</strong>\r\n\r\nHope for Homeowners Consulting will provide necessary tools, resources and information to assist their clients in making decisions about finances, based on the client’s needs and preferences.  In instances when clients experience literacy or language challenges, Hope for Homeowners Consulting will take steps to ensure our clients’ comprehension.  This shall include arranging for a qualified interpreter or translator.\r\n\r\n<strong>3. </strong><strong>Competence</strong>\r\n\r\nHope for Homeowners Consulting will provide services only within the boundaries of their relevant professional experience.  Referrals will be provided to clients when essential services are beyond the scope of the individual or company to provide.  Hope for Homeowners Consulting shall be culturally competent in their service area and sensitive to cultural differences and needs.\r\n\r\n<strong>4. </strong><strong>Conflicts of Interest</strong>\r\n\r\nHope for Homeowners Consulting will avoid actual and the appearance of conflicts of interest. They will inform clients when a real or potential conflict of interest arises and take all necessary steps to resolve the issue in a manner that makes the clients’ interests primary and protects clients’ interests.  In some cases, protecting clients’ interests may require termination of the professional relationship with proper referral of the client.  Hope for Homeowners Consulting will not take unfair advantage of any professional relationship or exploit others to further their personal, religious, political or business interests.   Any potential conflicts of interest will be disclosed to clients in a written disclosure document.\r\n\r\n<strong>5. </strong><strong>Privacy and Confidentiality</strong>\r\n\r\nHope for Homeowners Consulting will respect clients’ right to privacy.  Private information will not be requested from clients unless it is critical to providing services.  Once private Information is shared, privacy laws apply as well as client confidentiality.  Hope for Homeowners Consulting will disclose confidential information only as specified by a valid written consent of client.  Hope for Homeowners Consulting will not discuss confidential information in any setting unless privacy can be ensured.  Counselors will abide by privacy laws and keep information confidential and protected.  Hope for Homeowners Consulting will not disclose clients’ information, including their identity, when responding to requests from members of the media without the client’s express consent.  Hope for Homeowners Consulting will protect the confidentiality of clients’ written and electronic records and other sensitive information.  Clients’ records shall be stored in a secure location and not made available to others who are not authorized to have access.  Hope for Homeowners Consulting will take precautions to ensure and maintain the confidentiality of information transmitted to other parties through the use of computers, electronic mail, facsimile machines, telephones and telephone answering machines, and other electronic or computer technology.  Disclosure of identifying information will be avoided unless specifically permitted by client.  Hope for Homeowners Consulting will dispose of clients’ records in a manner that protects clients’ confidentiality and is consistent with state statutes governing records.  Hope for Homeowners Consulting will be familiar with relevant local, regional and national laws regarding privacy and confidentiality.\r\n\r\n<strong>6. </strong><strong>Professional Behavior</strong>\r\n\r\nHope for Homeowners Consulting will not practice, condone, facilitate, or collaborate with any form of discrimination on the basis of race, ethnicity, national origin, sex, sexual orientation, age, marital status, political belief, religion, or mental or physical disability. Hope for Homeowners Consulting will not use derogatory language in their written or verbal communications to or about clients.  Accurate and respectful language will be used in all communications to and about clients.  Hope for Homeowners Consulting will not participate in, condone, or be associated with dishonesty, fraud or deception. Hope for Homeowners Consulting will not permit their private conduct to interfere with their ability to fulfill their professional responsibilities.\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. </strong><strong>Payment for Services</strong>\r\n\r\nWhen setting fees, Hope for Homeowners Consulting will ensure that the fees are fair, reasonable and commensurate with the services performed.  Clients will be informed of any applicable fees prior to the delivery of any services.\r\n\r\n<strong>8. </strong><strong>Discontinuation of Services</strong>\r\n\r\n<strong> </strong>\r\n\r\nHope for Homeowners Consulting will close files and discontinue services to clients when such services are no longer required or no longer serve the clients’ needs or interests.\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. </strong><strong>Consultation</strong>\r\n\r\n<strong> </strong>\r\n\r\nHope for Homeowners Consulting will seek the advice and counsel of more experienced colleagues whenever such consultation is in the best interests of clients.  Consultation will only be sought from colleagues who have demonstrated knowledge, expertise and competence related to the subject of the consultation.  When consulting with colleagues about clients, Hope for Homeowners Consulting will disclose the least amount of information necessary to achieve the purposes of the consultation. Client information will only be shared with other colleagues with the written consent of the client.\r\n\r\n<strong>10. </strong><strong>Referrals</strong>\r\n\r\n<strong> </strong>\r\n\r\nHope for Homeowners Consulting will limit services to those within their training and expertise and refrain from giving legal, tax or accounting advice unless licensed to do so.\r\n\r\n<strong>11. </strong><strong>Integrity of Hope for Homeowners Consulting</strong>\r\n\r\n<strong> </strong>\r\n\r\nHope for Homeowners Consulting will work toward the maintenance and promotion of high standards of practice for the industry.  Hope for Homeowners Consulting will uphold and advance the values, ethics, knowledge and mission of the profession.  They will protect, enhance and improve the integrity of the profession through service development, partnerships and active participation in the industry.  Hope for Homeowners Consulting will contribute time and professional expertise to activities that promote respect for the value, integrity and competence of their profession.','Our Code of Ethics','','inherit','open','open','','118-revision-10','','','2010-08-07 00:07:19','2010-08-07 00:07:19','',118,'http://h4hconsulting.com/cms/482/118-revision-10/',0,'revision','',0),(483,1,'2010-08-11 20:20:52','2010-08-11 20:20:52','Dear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously losing owners seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees and continue to grow my property management company.\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Testimonials','','inherit','open','open','','355-revision-12','','','2010-08-11 20:20:52','2010-08-11 20:20:52','',355,'http://h4hconsulting.com/cms/483/355-revision-12/',0,'revision','',0),(484,1,'2010-08-11 21:00:57','2010-08-11 21:00:57','To receive our free download, \"Loan Modification: Tips and Best Practices\", please submit the form below.','Free Download Request','','inherit','open','open','','238-revision-3','','','2010-08-11 21:00:57','2010-08-11 21:00:57','',238,'http://h4hconsulting.com/cms/484/238-revision-3/',0,'revision','',0),(485,1,'2010-06-23 21:28:47','2010-06-23 21:28:47','','Podcasts','','inherit','open','open','','159-revision-2','','','2010-06-23 21:28:47','2010-06-23 21:28:47','',159,'http://h4hconsulting.com/cms/485/159-revision-2/',0,'revision','',0),(486,1,'2010-08-12 14:40:36','2010-08-12 14:40:36','<h2>Frequently Asked Questions  Videos in Foreclosure Defense</h2>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a>','FAQ Videos','','inherit','open','open','','243-revision-v1','','','2010-08-12 14:40:36','2010-08-12 14:40:36','',243,'http://h4hconsulting.com/cms/486/243-revision-24/',0,'revision','',0),(487,1,'2010-08-11 21:32:23','2010-08-11 21:32:23','<strong><a href=\"http://h4hconsulting.com/cms/video-library/faq/deficiency-judgment/\" target=\"_blank\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a>\r\n</strong>\r\n\r\n<a href=\"http://h4hconsulting.com/cms/video-library/faq/strategic-default\" target=\"_blank\"><strong>What is a Strategic Default and is it for me?</strong></a>','Definitions','','inherit','open','open','','218-revision-v1','','','2010-08-11 21:32:23','2010-08-11 21:32:23','',218,'http://h4hconsulting.com/cms/487/218-revision-29/',0,'revision','',0),(488,1,'2010-08-11 21:33:19','2010-08-11 21:33:19','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment Definition','','inherit','open','open','','193-revision-22','','','2010-08-11 21:33:19','2010-08-11 21:33:19','',193,'http://h4hconsulting.com/cms/488/193-revision-22/',0,'revision','',0),(489,1,'2010-08-12 14:49:41','2010-08-12 14:49:41','<strong><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\" target=\"_self\">Do you know what a Deficiency Judgment is and how it could harm you financially?</a> <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\"><img class=\"alignright size-full wp-image-206\" title=\"strategic_default_image\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/strategic_default_image1.jpg\" alt=\"\" width=\"150\" height=\"150\" /></a>\r\n</strong>\r\n\r\nA<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"> <strong>deficiency judgment</strong></a> is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.\r\n\r\nStates that follow the title theory of mortgages typically allow non-judicial foreclosure procedures, which are fast, but do not allow deficiency judgments. States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor.\r\n\r\nDeficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home\'s selling price is not enough to cover the loan balance. Let\'s take a closer look at what deficiency judgments are and if you should expect one.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgment Overview</strong></a>\r\n\r\nWhen you default on a loan and the lender repossesses your property, the value of the property may not pay off the loan. For example, you might owe $100,000 on your home, but it only sells for $80,000. You\'re $20,000 short.\r\n\r\nBecause the lender wants <em>all</em> of the money back, they may take further legal action against you. Legal action to collect the remaining amount is called a deficiency judgment.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>Deficiency Judgments</strong></a>\r\n\r\nA deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.\r\n\r\nWhether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<h1><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Deficiency   Judgments in Florida</a></h1>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<table border=\"0\" cellspacing=\"1\" cellpadding=\"0\" width=\"109%\">\r\n<tbody>\r\n<tr>\r\n<td colspan=\"3\" width=\"99%\" valign=\"top\">\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>If your property is sold in a Florida judicial foreclosure and the sale     price is less than the actual amount owed, you will be responsible for     paying the deficiency. The lender can either forgive this deficient amount     or come after you to recover it.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Can lenders get deficiency judgment     Florida?</a></h3>\r\nYes! The lender can obtain a judgment     against you to recover the deficiency. He has to file a separate     motion/lawsuit for a deficiency once the foreclosure sale is complete.     The court then holds a hearing to decide if a deficiency judgment can be     allowed against you. At the hearing, the lender has to prove that the     property value is indeed less than what you owe.\r\n\r\nAs a borrower, you have the right to oppose your lender\'s claim for     judgment. You will have to prove that the property is worth more than the     outstanding mortgage balance at the time of foreclosure. You can use an     appraisal or the tax assessed value of the property to support your claim.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">What happens after lenders get judgment?</a></h3>\r\nDeficiency judgment in Florida allows     lenders to come after your wages, levy your bank accounts and put liens on     your other properties. However, there are certain assets which are exempt     from judgments. They include IRA, 401k, other retirement accounts, social     security income, unemployment benefits, workers compensation, etc. Your     lender has the right to collect on that judgment for 20 years. The interest     will accrue every year till it is paid in full. Apart from this, the     judgment will show up on your credit report for 7 years and will affect     your credit scores adversely.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are your wages exempt from garnishment?</a></h3>\r\nIf you are the head of the family     and your net wages are less than $500 per week, you can protect your wages     from garnishment. But if you\'ve signed any document allowing the wage     garnishment, the lender can come after your wages. In case you are not the     head of the family, you can still protect a certain part of your wages.     Federal law limits the amount of money that can be garnished by your     lender. They can take only 25% of your net wages or the amount in excess of     30 times the federal minimum wage per week, whichever is less.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Are homestead properties exempt from     deficiency judgment Florida?</a></h3>\r\nNo. Homestead properties are not     protected from judgments for mortgage liens. You can protect your home from     creditors of unsecured debts under homestead protection. But lenders who     have financed purchase, repair, improvement, etc. of your home, hold a lien     on your property. If you default on such secured loans, your home is not     protected from judgments.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Does PMI help you cover the deficiency?</a></h3>\r\nNo. Private Mortgage Insurance (PMI)     cannot protect you from deficiency judgments. It is meant to protect a     lender against the losses from a mortgage default. A PMI is required if you     make a down payment of less than 20% on your loan.\r\n<h3><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">Is there a way to avoid deficiency     judgments?</a></h3>\r\nYes. If you can stop foreclosure, you can     avoid the judgment. In case you\'re having difficulty in making mortgage     payments and a foreclosure is imminent, you can look for various loss mitigation     options like loan modification, deed in lieu (DIL), etc. A loan     modification can reduce your mortgage payments and help you save the home.\r\n\r\nA deed in lieu does not help you retain the home. But it waives off the     lender\'s right to collect the deficiency. This helps you avoid a judgment.     However, you should not believe in verbal agreements. If the deficiency is     forgiven, ask your lender to give it in writing before you proceed with the     deed in lieu.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td width=\"0%\"></td>\r\n<td width=\"90%\">Many Florida real estate investors   are concerned about personal liability from mortgage foreclosure deficiency   judgments. Although they accept loss of equity, if any, in property which is   foreclosed by their mortgage lender, people are afraid of a deficiency   judgment. A deficiency judgment refers to a mortgage lender’s judgment   against the borrower for the difference between the outstanding balance of   the mortgage note, plus costs and attorneys fees, and the value of the   property foreclosed. The property value is determined on the date of the   foreclosure sale. Personal liability from mortgage debt is today a principal   reason for asset protection planning.\r\n\r\nIn judicial foreclosure states, a mortgage foreclosure does not automatically result in a   deficiency judgment. Just because you lose a property at foreclosure does not   mean you will remain personally liable for money owed to the lender. To   obtain a deficiency judgment against the borrower the foreclosure sale the   mortgage lender has to file a motion for a deficiency after the foreclosure   sale, and the court must hold a separate evidentiary hearing on the lender’s   request for deficiency liability. At the evidentiary hearing the mortgage   lender has to show the court evidence that the property’s value on the sale   date was less than the note balance. The borrower can get his own appraisal   or can use the government\'s tax assessed value as evidence of value. If the   property was worth more than the note balance on the sale date the court will not   give the mortgage lender a deficiency judgment against the borrower. The   borrower may present evidence of value in the form of a formal appraisal or   other less formal opinions of value such as the local government\'s tax   assessed value.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How has the economy affected judgments?</strong></a>\r\n\r\nDuring the recent real estate boom deficiency judgments were uncommon because   increasing real estate values brought home values above note balances of   defaulting mortgages. Additionally, lenders could take back \"upside   down\" properties and hold them until the rising market made them whole.   Deficiency liability is a problem in a declining market. Up to this point in   the real estate crash few mortgage service companies with conventional first   mortgages have been pursuing deficiency judgments, especially mortgages on   owner occupied homes. Many attorneys and other experts speculate that first   mortgage deficiency lawsuits will increase in the future as lenders resolve   foreclosure backlogs and as they sell their deficiency rights to third party   investors and collection firms. Florida law gives mortgage lenders five years   to pursue a mortgage deficiency claim.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Second Mortgages and Private Lenders?</strong></a>\r\n\r\nSecond   mortgage lenders and private lenders are more likely than first mortgage holders   to go after the borrowers by suing for default on the underlying promissory   note. There has been a significant increase in second mortgage lawsuits since   the beginning of 2009. Banks that made commercial loans to developers or   builders almost always file a lawsuit against the individual borrower to enforce   and collect upon the promissory note or personal guarantee of a business   loan.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What do I do if the file a Deficiency Judgment?</strong></a>\r\n\r\nIf a   mortgage lender pursues a deficiency judgment you should hire an attorney to   defend the deficiency. In many cases, an attorney can use procedural defenses   and substantive lending law to defeat a deficiency claim and the attorney can   negotiate an acceptable settlement for much less than the total deficiency   liability in most cases.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>How do I avoid a Deficiency Judgment?</strong></a>\r\n\r\nOne way to avoid deficiency liability, or to modify your   mortgage to avoid foreclosure, is court ordered mediation with your mortgage   lender through a new mediation program in Chapter 13 bankruptcy cases. If you   file a Chapter 13 bankruptcy in the Orlando division the federal bankruptcy court   will very soon after filing issue an order requiring the lender to   participate in good faith mediation to discuss mortgage modification.\r\n\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><strong>What about Income Taxes?</strong></a>\r\n\r\nAnother problem with mortgage foreclosure is possible income tax   consequences. The general rule is that when a lender forgives or cancels a   debt the borrower can incur income tax on the amount of debt forgiveness.   When you arrange a discount in your mortgage in order to sell your house (a   so-called \"short sale\") the mortgage lender will cancel part of   your mortgage debt and you will receive a tax form 1099 telling the IRS that   you have imputed income for the amount of debt reduction. You will also incur   income tax liability for a deed in lieu of foreclosure. The taxable income   will be the difference between the property value and the balance of the   mortgage loan on the date you surrender the property to the bank.\r\n\r\nA foreclosure may result in cancellation of debt income depending on whether   the bank pursues a deficiency judgment. If the mortgage lender gets a   deficiency judgment for the difference between the property value on   foreclosure sale date and the mortgage balance the lender is not forgiving   any part of the loan. If the bank chooses not to pursue a deficiency   judgment, or pursues the judgment unsuccessfully, the borrower may incur   income tax liability for debt forgiveness.\r\n\r\nIn   December, 2007, Congress acted to protect many debtors from income tax   liability associated with foreclosure avoidance. The Mortgage Forgiveness   Debt Relief Act of 2007 states that homeowners will not be subject to income   tax from release from mortgage liability if and to the extent the mortgage   proceeds were used to <strong>buy or </strong>improve<strong> </strong>their primary residence. There is   no income tax shelter from forgiveness of mortgage debts for investment   property, vacation homes, or mortgages used for businesses or to pay off   credit card balances. The protection expires in December, 2012. You should   speak with an attorney or CPA familiar with the new law to see if you qualify   for income tax protection.\r\n\r\nFor those borrowers who do not qualify for protection of the new Act there is   an insolvency exception to imputed income from the cancellation of mortgage   debt. If a borrower is financially insolvent when he surrenders the mortgaged   property to the lender voluntarily or through foreclosure there will be no   imputed income. A borrower who files bankruptcy is presumed to be insolvent,   so that a bankruptcy debtor cannot suffer imputed income tax liability   because the bankruptcy discharges personal liability under a mortgage note.   More information is available from IRS Publication 908 and IRS tax form 982.   Both forms can be found at irs.gov.\r\n\r\nThe tax law permits many real estate investors to offset   imputed debt forgiveness income with corresponding tax losses. For example,   if a lender forecloses on a parcel of income producing rental property the   taxpayer may be able to report an operating loss to offset all imputed income   from debt forgiveness in the same year that the mortgage lender issues the   Form 1099. When a foreclosed property was not income producing, but was held   solely for future appreciation (example: vacant land), the deduction from   ordinary income of capital losses in excess of capital gain may be limited to   $3,000 per year so that the total loss will have to be deducted over future   tax years. You should consult your CPA to determine the tax impact of a   mortgage foreclosure on your tax situation. The tax impact of foreclosure is   not a legal issue.</td>\r\n<td width=\"9%\"></td>\r\n</tr>\r\n<tr height=\"0\">\r\n<td width=\"2\"></td>\r\n<td width=\"736\"></td>\r\n<td width=\"79\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<strong>Author: Jessica Bennet</strong>\r\n\r\n<strong>Deficiency Judgments in California</strong>\r\n\r\nThe good news for California borrowers is all purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments.\r\n\r\nHard-money loans in California -- loans taken out after the home was purchased through a refinance or second mortgage -- <strong>can</strong> be subject to a deficiency judgment under the following conditions:\r\n<ul>\r\n	<li>The lender forecloses under judicial proceedings <em>(California      Code Civil. Proc. § 726).</em></li>\r\n	<li>Most lenders foreclose through a trustee\'s sale;      however, which does <strong>not</strong> give the lender the right to pursue a      deficiency judgment, with one exception <em>(see second hard-money <strong>second</strong> mortgages below)</em>.</li>\r\n	<li>A three-month time limit applies to actions for      deficiency judgments under a judicial foreclosure.</li>\r\n	<li>If the second mortgage is hard money and the lender has      lost security for that loan through a foreclosure or short sale -- making      the security for the promissory note worth nothing -- the beneficiary of      that second mortgage <strong>can</strong> pursue a deficiency judgment <em>(Roseleaf      Corp. v. Chierighino, 59 Cal. 2d 35 (1963).</em></li>\r\n</ul>\r\n<strong>Negotiating Collection</strong>\r\n\r\nSome hard-money lenders sell the promissory note to an investor after a foreclosure for pennies on the dollar. Then, the investor will attempt to collect the debt.\r\n\r\nEven though a lender may have accepted, say, $1,000 for a $100,000 second mortgage through a short sale, the security for that hard-money second is released but the promissory note may not be. A short sale seller such as our reader might believe the ordeal is over, until one day he receives a phone call, asking for repayment.\r\n<ul>\r\n	<li>Realize that the lender most likely will negotiate for      a discounted payoff.</li>\r\n	<li>The lender may ask for a new promissory note to replace      the old promissory note. In that event, make sure the lender sends a      \"paid in full\" promissory note.</li>\r\n	<li>If the lender has already sold the note, the discount      may be greater.</li>\r\n	<li>Not all hard-money promissory notes must be paid in      cash. Some lenders will accept payments.</li>\r\n	<li>If the lender directs payments to another entity,      realize that the note may have been sold at less than its face value, and      that new lender may accept an even lower amount as payment in full.</li>\r\n	<li>After the note is paid in its entirety, ask the lender      to return the promissory note marked \"paid in full.\"</li>\r\n</ul>','Deficiency Judgment Definition','','inherit','open','open','','193-revision-23','','','2010-08-12 14:49:41','2010-08-12 14:49:41','',193,'http://h4hconsulting.com/cms/489/193-revision-23/',0,'revision','',0),(490,1,'2010-08-11 21:33:54','2010-08-11 21:33:54','<strong> </strong>\r\n\r\n<strong><a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale.jpg\"><img class=\"alignleft size-medium wp-image-203\" title=\"scale\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/06/scale-268x300.jpg\" alt=\"\" width=\"268\" height=\"300\" /></a><a href=\"http://\">What is a strategic default and why should it concern you?</a></strong>\r\n\r\nIn simple terms a strategic default is when a homeowner simply walks away from a home and its mortgage.  It sounds like a last resort, an act of desperation if refinancing or mortgage modification does not work out.\r\n\r\nStrategic default, also known as voluntary foreclosure is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult, but often times is the first step to financial freedom.\r\n\r\nThe Wall Street Journal’s Real Time Economics reported that:\r\n<ul>\r\n	<li>Homeowners start to default once their negative equity passes 10% of the home’s value. After that, they “walk away massively” after decreases of 15%. About 17% of households would choose voluntary foreclosure as a solution – even if they could pay the mortgage – when the equity shortfall hits 50% of the house’s value, they found.</li>\r\n	<li>Defaults continue to rise, nearly 1/3 are strategic defaults and this trend continues to move upward each month\r\n<ul>\r\n	<li>Ten million Americans owe more on their homes than what those homes are worth.  That number is expected to rise to 21 million by the end of this year.  If one fifth of those folks default on their loans, the banks and investors stand to lose as much as they did in the savings and loan crisis of the 1980’s and ‘90’s.  Plus taxpayers would be out more in bailout money, and credit would be trashed for years for borrowers who defaulted, but there is up side.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIn this time of uncertainty in the market and economy, many homeowners have opted for this strategy.  If you are considering this, you are not alone. If you are going through it because you have no other options, or for other reasons our team at H4H Consulting <strong><em>will not judge</em></strong> your reason. We just want to <strong><em>help you find solutions and u</em></strong>se the law to <strong><em>your advantage.</em></strong>','Strategic Default ','','inherit','open','open','','197-revision-17','','','2010-08-11 21:33:54','2010-08-11 21:33:54','',197,'http://h4hconsulting.com/cms/490/197-revision-17/',0,'revision','',0),(491,1,'2010-08-11 20:11:20','2010-08-11 20:11:20','[youtube]6SN7zpDWL1c[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.','How will a Deficiency Judgment impact me?','','inherit','open','open','','307-revision-9','','','2010-08-11 20:11:20','2010-08-11 20:11:20','',307,'http://h4hconsulting.com/cms/491/307-revision-9/',0,'revision','',0),(492,1,'2010-08-11 20:11:58','2010-08-11 20:11:58','<div>\r\n\r\n[youtube]K3do75NZKvo[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','Do I need to be late on my payments in order to qualify?','','inherit','open','open','','314-revision-4','','','2010-08-11 20:11:58','2010-08-11 20:11:58','',314,'http://h4hconsulting.com/cms/492/314-revision-4/',0,'revision','',0),(493,1,'2010-08-12 14:47:14','2010-08-12 14:47:14','<h2>Frequently Asked Questions  Videos in Foreclosure Defense</h2>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a>','FAQ Videos','','inherit','open','open','','243-revision-v1','','','2010-08-12 14:47:14','2010-08-12 14:47:14','',243,'http://h4hconsulting.com/cms/493/243-revision-25/',0,'revision','',0),(494,1,'2010-08-12 14:56:32','2010-08-12 14:56:32','<h2>Frequently Asked Questions  Videos in Foreclosure Defense</h2>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\">How will a Deficiency Judgment impact me?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-will-a-deficiency-judgment-impact-me/\"><img title=\"How will a Deficiency Judgment impact me?\" src=\"http://i3.ytimg.com/vi/6SN7zpDWL1c/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\">How does foreclosure or short sale affect my credit?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-does-foreclosure-or-short-sale-affect-my-credit/\"><img title=\"How does foreclosure or short sale affect my credit?\" src=\"http://i4.ytimg.com/vi/WWVcnfXlRdo/default.jpg\" alt=\"\" /></a></div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\">Do I need to be late on my payments in order to qualify?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/do-i-need-to-be-late-on-my-payments-in-order-to-qualify/\"><img title=\"Do I need to be late on my payments in order to qualify?\" src=\"http://i4.ytimg.com/vi/K3do75NZKvo/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\">Should we continue to talk to the bank after we hire an attorney?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-we-continue-to-talk-to-the-bank-after-we-hire-an-attorney/\"><img title=\"  Should we continue to talk to the bank after we hire an attorney?\" src=\"http://i2.ytimg.com/vi/IDTpu6rLg5k/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\">How long can we expect to stay in the home after foreclosure has begun?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-long-can-we-expect-to-stay-in-the-home-after-foreclosure-has-begun/\"><img title=\"  How long can we expect to stay in the home after foreclosure has begun?\" src=\"http://i2.ytimg.com/vi/M3MTfWdgCak/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\">Should I continue to pay my HOA fees during Foreclosure?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/should-i-continue-to-pay-my-hoa-fees-during-foreclosure/\"><img title=\" Should I continue to pay my HOA fees during Foreclosure?\" src=\"http://i2.ytimg.com/vi/yyb0n4VQLOU/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\">What is a Short Sale?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-short-sale/\"><img title=\" What is a Short Sale?\" src=\"http://i3.ytimg.com/vi/jpezg9F8Cs4/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\">What is a Deed In Lieu?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-deed-in-lieu/\"><img title=\" What is a Deed In Lieu?\" src=\"http://i2.ytimg.com/vi/at6qxDt0RG8/default.jpg\" alt=\"\" width=\"120\" height=\"90\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\">What is a Loan Modification?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-is-a-loan-modification/\"><img title=\" What is a Loan Modification?\" src=\"http://i3.ytimg.com/vi/Zas3AWaDuts/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\">What happens to a spouse who has signed the deed/mortgage but not the note?</a></div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/what-happens-to-a-spouse-who-has-signed-the-deedmortgage-but-not-the-note/\"><img title=\"What happens to a spouse who has signed the deed/mortgage but not the note?\" src=\"http://i3.ytimg.com/vi/bPjay2Wi3Os/default.jpg\" alt=\"\" /></a></div>\r\n</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\">How much does foreclosure defense cost?</a></div>\r\n<a href=\"http://h4hconsulting.com/cms/faq/how-much-does-foreclosure-defense-cost/\"><img title=\"How much does foreclosure defense cost?\" src=\"http://i2.ytimg.com/vi/QbUD5pNQBVg/default.jpg\" alt=\"\" /></a>','FAQ Videos','','inherit','open','open','','243-revision-v1','','','2010-08-12 14:56:32','2010-08-12 14:56:32','',243,'http://h4hconsulting.com/cms/494/243-revision-26/',0,'revision','',0),(495,1,'2010-08-12 14:41:28','2010-08-12 14:41:28','','How will a Deficiency Judgment impact me?','','inherit','open','open','','305-revision-2','','','2010-08-12 14:41:28','2010-08-12 14:41:28','',305,'http://h4hconsulting.com/cms/495/305-revision-2/',0,'revision','',0),(496,1,'2010-08-12 14:46:48','2010-08-12 14:46:48','','Podcasts','','inherit','open','open','','159-revision-3','','','2010-08-12 14:46:48','2010-08-12 14:46:48','',159,'http://h4hconsulting.com/cms/496/159-revision-3/',0,'revision','',0),(497,1,'2010-08-12 14:46:06','2010-08-12 14:46:06','Dear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously losing owners seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees and continue to grow my property management company.\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Testimonials','','inherit','open','open','','355-revision-13','','','2010-08-12 14:46:06','2010-08-12 14:46:06','',355,'http://h4hconsulting.com/cms/497/355-revision-13/',0,'revision','',0),(499,1,'2010-08-12 15:05:06','2010-08-12 15:05:06','','How will a Deficiency Judgment impact me?','','inherit','open','open','','305-revision-3','','','2010-08-12 15:05:06','2010-08-12 15:05:06','',305,'http://h4hconsulting.com/cms/499/305-revision-3/',0,'revision','',0),(498,1,'2010-08-12 15:22:51','2010-08-12 15:22:51','Dear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously losing owners seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees and continue to grow my property management company.\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Property Management Testimonials','','inherit','open','open','','355-revision-14','','','2010-08-12 15:22:51','2010-08-12 15:22:51','',355,'http://h4hconsulting.com/cms/498/355-revision-14/',0,'revision','',0),(582,1,'2010-08-19 19:50:59','2010-08-19 19:50:59','The housing market has usually led the U.S. economy into and out of recessions. It certainly led  us into the latest slump.\r\n\r\nThe same can’t be said of the recovery. If anything, housing today is stifling economic expansion.\r\n\r\nRebounds in housing have typically been driven by declines in mortgage rates. Not this time. <a title=\"Get Quote\" href=\"http://www.bloomberg.com/apps/quote?ticker=NMCMFUS:IND\">Rates</a> on a 30-year mortgage have dropped to about 4.5 percent -- the lowest since the early 1950s -- with little effect. Tax credits and other programs to encourage buyers have provided only a modest, temporary boost.\r\n\r\n<strong><a title=\"Your House Might Be Underwater for Years\" href=\"http://www.bloomberg.com/news/2010-08-16/your-house-might-be-underwater-for-years-commentary-by-michael-carliner.html\" target=\"_blank\">Read more...</a></strong>','Your House Might Be Underwater for Years: Michael Carliner','','publish','open','open','','your-house-might-be-underwater-for-years-michael-carliner','','','2010-08-20 15:07:18','2010-08-20 15:07:18','',0,'http://h4hconsulting.com/cms/?p=582',0,'post','',0),(501,1,'2010-08-12 15:33:08','2010-08-12 15:33:08','Dear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously owners losing their homes had seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees. For those homeowners needing other options, you have provided those as well. Thankfully those options have helped increased the short sale side of my business!!\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Prop. Mgmt. Testimonials','','publish','open','open','','property-management-testimonials','','','2010-08-16 17:26:15','2010-08-16 17:26:15','',2,'http://h4hconsulting.com/cms/',3,'page','',0),(502,1,'2010-08-12 15:29:54','2010-08-12 15:29:54','Dear Chris,\n\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously losing owners seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees and continue to grow my property management company.\n\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\n\nSincerely,\n\nL. Michelle Pentifallo\n\nOwner/Broker First In Property Management','Prop. Management Testimonials','','inherit','open','open','','501-revision','','','2010-08-12 15:29:54','2010-08-12 15:29:54','',501,'http://h4hconsulting.com/cms/502/501-revision/',0,'revision','',0),(503,1,'2010-08-12 15:33:08','2010-08-12 15:33:08','Dear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously losing owners seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees and continue to grow my property management company.\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Property Management Testimonials','','inherit','open','open','','501-revision-2','','','2010-08-12 15:33:08','2010-08-12 15:33:08','',501,'http://h4hconsulting.com/cms/503/501-revision-2/',0,'revision','',0),(504,1,'2010-08-12 15:23:31','2010-08-12 15:23:31','Dear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously losing owners seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees and continue to grow my property management company.\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Testimonials','','inherit','open','open','','355-revision-15','','','2010-08-12 15:23:31','2010-08-12 15:23:31','',355,'http://h4hconsulting.com/cms/504/355-revision-15/',0,'revision','',0),(505,1,'2010-08-12 15:50:25','2010-08-12 15:50:25','Hope for Homeowners Consulting has been a huge help with my mortgage crisis. My wife and I could no longer afford to pay our mortgage so we contacted Chris Sommer at H4H and he showed us how to best handle our situation. He gave us a detailed outline of how his company was going to help us through our difficult financial state of affairs. \r\n\r\nChris took the time to explain in detail how the entire process works and what our options throughout the process were going to be. Since we hired Chris he has taken care of all the communications with our mortgage company and made our lives much easier. He has met all deadlines for us and continues to be available to us whenever we have questions.\r\n\r\nI highly recommend H4H Consulting.\r\nRob Sullivan\r\n\r\n\r\nDear Chris,\r\n I want to thank you for everything you have done for me. With five years of experience as a mortgage banker, licensed real-estate agent and a finance degree I was confident I would be able to handle the short sale/loan modification process with my banks on my own. WOW was I wrong! For months I battled via phone, US Mail, and fax trying to get help from my bank and got nowhere. I felt like I was actually moving backwards. After I was referred to you and you took the process by the reins I felt like 1,000 LBS. had been lifted from my shoulders. I have settled all my credit card debts and am well along the way to short selling my investment properties. I love the way you keep me informed of the pertinent items I needed to know and relieve me of the headaches of dealing with automated phone systems and none responsive bank employees. \r\n\r\nThanks again for all your help and I recommend you to everyone I know that can use your help. \r\nSincerely,\r\nJamie Garrison\r\n\r\n\r\nChris,\r\nThanks so much for working with us on our home. I didn\'t know where to turn or what my options were before I met you. You have definitely eased my mind!  Between trying to start up a company on our own and the value of our home dropping 60% in the last couple of years, we have taken a big hit financially. We never expected to be in this situation: using all of our savings and retirement funds, not being able to afford our mortgage payments, and running out of options.\r\n\r\nThanks to you and your team we now have a plan, including and exit strategy and help with the many debt collection calls we were receiving on an hourly basis. It\'s been a huge relief!!\r\n\r\nNow we know what to do and when, and most importantly, we know we will not be faced with a huge deficiency judgment when it\'s all done. Again, I can\'t thank you enough!!\r\nSincerely,\r\nJosh Danielson\r\n','Testimonials','','inherit','open','open','','355-revision-16','','','2010-08-12 15:50:25','2010-08-12 15:50:25','',355,'http://h4hconsulting.com/cms/505/355-revision-16/',0,'revision','',0),(506,1,'2010-08-10 18:54:03','2010-08-10 18:54:03','<em>\r\n</em>\r\n\r\nChris -\r\n\r\nJust a quick line to <strong>THANK YOU</strong> for the clients  you’ve referred to us over the last several months. You’ve been  instrumental in the growth and success of our Foreclosure Defense  Practice. I look forward to helping you grow your business, and to many  years of friendship and mutual business advantage in the years to come.\r\n\r\nRoss Spano\r\n\r\n<strong>Christmas &amp; Spano, P.A.</strong>\r\n\r\n<strong>\r\n</strong>\r\n\r\n<em>Chris,</em>\r\n\r\n<em>I just wanted to take a few moments to thank you and update you  on what has transpired in my practice since adding Foreclosure defense  to my practice with your assistance. </em>\r\n\r\n<em>The economy had effected my practice like most in Florida, and I  needed to expand my services, with little alternatives that could  quickly add value.  After talking to you, and seeing your well sourced,  complete list of documents and materials, I was able to quickly setup my  Foreclosure services, and effectively market them to my clients.</em>\r\n\r\n<em>Thanks again! It was just the shot in the arm we needed…..</em>\r\n\r\n<em>Matt Mitcham, Esq. (Tampa, FL)</em>','Attorney Testimonials','','inherit','open','open','','363-revision-3','','','2010-08-10 18:54:03','2010-08-10 18:54:03','',363,'http://h4hconsulting.com/cms/506/363-revision-3/',0,'revision','',0),(507,1,'2010-08-12 02:28:39','2010-08-12 02:28:39','Do not edit this page. It is only here as a place holder for the Blog link in the main menu. Thanks! - Chris Jenkins','Blog','','inherit','open','open','','467-revision-3','','','2010-08-12 02:28:39','2010-08-12 02:28:39','',467,'http://h4hconsulting.com/cms/507/467-revision-3/',0,'revision','',0),(508,1,'2010-08-11 20:48:06','2010-08-11 20:48:06','<h1><strong>Welcome to our Webinar!!\r\n</strong></h1>\r\nDistressed  property expert Chris Sommer and Foreclosure Attorney Ross Spano answer  your questions about Foreclosure Defense, Strategic Default, Deficiency  Judgment, Deed in Lieu, and all the options available for you to save  your home and your credit.\r\n<h2>Hope for Homeowners Consulting Foreclosure Webinar</h2>\r\n<strong>Webinar Introduction</strong>\r\nOur 8-part webinar with leading distressed property expert and  foreclosure attorney discussing the info you need to be aware of in the  current marketplace.\r\n[youtube]iBr5SQAEvo4[/youtube]\r\n\r\n<strong>Unemployment &amp; Foreclosure Marketplace</strong>\r\nData reflecting the economy that we’re in, where we’re trending to and  what you can expecting the next few years. See how the unemployment rate  and foreclosures are affecting the economy – and your ability to settle  on your home!\r\n[youtube]sOTvZTkqfxQ[/youtube]\r\n\r\n<strong>Government Initiatives - HASP, HAMP, HARP, HAFA</strong>\r\nBrief history on the success and failures of the government initiatives programs been and which one could help you?\r\n[youtube]KXo9cAMV06c[/youtube]\r\n\r\n<strong>Foreclosure Defense with Attorney Ross Spano</strong>\r\nHear from an expert foreclosure attorney on how to leverage your rights and what options you have to defend your home.\r\n[youtube]W-s8FLSVFq0[/youtube]\r\n\r\n<strong>Common Case Scenarios  - Loan Modification, Short Sale &amp; Deed in Lieu\r\n</strong>What’s your situation? See how three real-life scenarios got the  results they wanted throughshort sale, deed in lieu and loan  modification.\r\n[youtube]V-Inq_Q21rY[/youtube]\r\n\r\n<strong>What is a Deficiency Judgment?\r\n</strong>Learn what a Deficiency Judgment is and how to avoid it. Find out if  you will be subject to deficiency judgment if you short sale your home  or lose it to foreclosure.\r\n[youtube]5b_-ahMMoP4[/youtube]\r\n\r\n<strong>What is Strategic Default?</strong>\r\nWhat is a Strategic Default and is it in your best interest?\r\n[youtube]vjsZGzRmHjQ[/youtube]\r\n\r\n<strong>Worst Option &amp; Best Solution\r\n</strong>Find the only true and effective way to get your questions answered  about foreclosure,loan modification and short sale. Learn how to resolve  your situation and fight back!\r\n[youtube]D1gqTuNzp7o[/youtube]','Webinar','','inherit','open','open','','426-revision-v1','','','2010-08-11 20:48:06','2010-08-11 20:48:06','',426,'http://h4hconsulting.com/cms/508/426-revision-6/',0,'revision','',0),(509,1,'2010-08-11 20:19:49','2010-08-11 20:19:49','<div>\r\n\r\n[youtube]QbUD5pNQBVg[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','How much does foreclosure defense cost?','','inherit','open','open','','335-revision-5','','','2010-08-11 20:19:49','2010-08-11 20:19:49','',335,'http://h4hconsulting.com/cms/509/335-revision-5/',0,'revision','',0),(510,1,'2010-08-11 20:18:19','2010-08-11 20:18:19','<div>\r\n\r\n[youtube]WWVcnfXlRdo[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','How does foreclosure or short sale affect my credit?','','inherit','open','open','','312-revision-7','','','2010-08-11 20:18:19','2010-08-11 20:18:19','',312,'http://h4hconsulting.com/cms/510/312-revision-7/',0,'revision','',0),(511,1,'2010-08-11 20:16:26','2010-08-11 20:16:26','<div>\r\n\r\n[youtube]bPjay2Wi3Os[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','What happens to a spouse who has signed the deed/mortgage but not the note?','','inherit','open','open','','333-revision-4','','','2010-08-11 20:16:26','2010-08-11 20:16:26','',333,'http://h4hconsulting.com/cms/511/333-revision-4/',0,'revision','',0),(512,1,'2010-08-11 20:15:57','2010-08-11 20:15:57','<div>\r\n\r\n[youtube]Zas3AWaDuts[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','What is a Loan Modification?','','inherit','open','open','','331-revision-4','','','2010-08-11 20:15:57','2010-08-11 20:15:57','',331,'http://h4hconsulting.com/cms/512/331-revision-4/',0,'revision','',0),(513,1,'2010-08-11 20:14:52','2010-08-11 20:14:52','<div>\r\n\r\n[youtube]jpezg9F8Cs4[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','What is a Short Sale?','','inherit','open','open','','327-revision-4','','','2010-08-11 20:14:52','2010-08-11 20:14:52','',327,'http://h4hconsulting.com/cms/513/327-revision-4/',0,'revision','',0),(514,1,'2010-08-11 20:14:24','2010-08-11 20:14:24','<div>\r\n\r\n[youtube]yyb0n4VQLOU[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','Should I continue to pay my HOA fees during Foreclosure?','','inherit','open','open','','325-revision-5','','','2010-08-11 20:14:24','2010-08-11 20:14:24','',325,'http://h4hconsulting.com/cms/514/325-revision-5/',0,'revision','',0),(515,1,'2010-08-11 20:12:36','2010-08-11 20:12:36','<div>\r\n\r\n[youtube]IDTpu6rLg5k[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','Should we continue to talk to the bank after we hire an attorney?','','inherit','open','open','','317-revision-6','','','2010-08-11 20:12:36','2010-08-11 20:12:36','',317,'http://h4hconsulting.com/cms/515/317-revision-6/',0,'revision','',0),(516,1,'2010-08-11 20:13:19','2010-08-11 20:13:19','<div>\r\n\r\n[youtube]M3MTfWdgCak[/youtube]\r\n\r\nNeed more information? Please use the form below to post additional questions.\r\n\r\n</div>','How long can we expect to stay in the home after foreclosure has begun?','','inherit','open','open','','319-revision-5','','','2010-08-11 20:13:19','2010-08-11 20:13:19','',319,'http://h4hconsulting.com/cms/516/319-revision-5/',0,'revision','',0),(518,1,'2010-08-16 17:26:28','2010-08-16 17:26:28','Dear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously owners losing their homes had seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees. For those homeowners needing other options, you have provided those as well. Thankfully those options have helped increased the short sale side of my business!!\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Prop. Mgmt. Testimonials','','inherit','open','open','','501-autosave','','','2010-08-16 17:26:28','2010-08-16 17:26:28','',501,'http://h4hconsulting.com/cms/518/501-autosave/',0,'revision','',0),(522,1,'2010-08-12 14:41:09','2010-08-12 14:41:09','<h2>Watch our free Foreclosure Advice Webinar!</h2>\r\n<div id=\"_mcePaste\">\r\n<div style=\"line-height: 1.8em;\">\r\n<div><span style=\"font-family: Consolas, Monaco, \'Courier New\', Courier, monospace;\"><span style=\"line-height: 22px;\"><a href=\"http://h4hconsulting.com/cms/services/request-password/\"><img class=\"alignnone size-full wp-image-289\" title=\"H4HC Video Library\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/video.jpg\" alt=\"\" width=\"599\" height=\"361\" /></a></span></span></div>\r\n<ul>\r\n	<li><strong>Are you upside down on your home?<a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/family.jpg\"><img class=\"size-full wp-image-10 alignright\" title=\"Help for homeowners is only a click away.\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/family.jpg\" alt=\"Help for homeowners is only a click away.\" width=\"304\" height=\"202\" /></a></strong><strong> </strong></li>\r\n	<li><strong>Do you know what a <a title=\"What is a Deficiency Judgment?\" href=\"http://h4hconsulting.com/cms/faq/deficiency-judgment/\">Deficiency Judgment</a></strong><strong> is and how it could harm you financially?</strong></li>\r\n	<li><strong>What is a <a title=\"What is a strategic default?\" href=\"http://h4hconsulting.com/cms/faq/strategic-default/\">strategic default</a></strong><strong> and why should it concern you?</strong></li>\r\n	<li><strong>Are you, or do you know an investor with multiple properties who\'s losing money?</strong></li>\r\n	<li><strong>Have you recently lost a job and fallen behind on your mortgage? </strong>\r\n<div style=\"height: 0.8em; visibility: hidden;\"><strong>.</strong></div>\r\n<strong> </strong></li>\r\n</ul>\r\n</div>\r\n</div>\r\n<div id=\"_mcePaste\">\r\n\r\n<img class=\"alignleft size-full wp-image-68\" style=\"margin-left: 10px; margin-right: 20px;\" title=\"Chris Sommer\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/ChrisSmall.jpg\" alt=\"\" width=\"112\" height=\"139\" />\r\n<div style=\"height: 0.8em; visibility: hidden;\">.</div>\r\nHello, my name is Chris Sommer, Managing Director with Hope for Homeowners Consulting. We provide solutions to these and other challenges that today\'s economy presents to homeowners.\r\n\r\n</div>\r\n<div style=\"height: 2.2em; visibility: hidden;\">.</div>\r\n<div style=\"height: 1.2em; visibility: hidden;\">.</div>\r\n<div><strong>Our solutions include</strong>:</div>\r\n<div id=\"_mcePaste\">\r\n<ul>\r\n	<li>Foreclosure Defense</li>\r\n	<li>Short sale</li>\r\n	<li>Property management</li>\r\n	<li>Loan modification</li>\r\n</ul>\r\n<em><strong> Many other services may be available.....</strong></em>\r\n\r\n</div>\r\n<div id=\"_mcePaste\">We will tailor a solution that meets your specific needs, and support you throughout the process from beginning to end.</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/?page_id=48\"><img class=\"aligncenter size-full wp-image-58\" style=\"margin-top: 20px; margin-bottom: 20px;\" title=\"Fight Back &amp; Get Started Now!\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/start.png\" alt=\"\" width=\"300\" height=\"73\" /></a></div>','Home','','inherit','open','open','','5-revision-v1','','','2010-08-12 14:41:09','2010-08-12 14:41:09','',5,'http://h4hconsulting.com/cms/522/5-revision-75/',0,'revision','',0),(520,1,'2010-08-12 14:43:48','2010-08-12 14:43:48','Do you think a Foreclosure Defense practice can’t be profitable? Think Again….\r\n\r\n* Six million families are more than two months behind with their payments.\r\n* 200,000 more families receive foreclosure notices each month.\r\n\r\nOf those, only 1% are being defended in FL\r\n\r\nWhat’s missing? Attorneys. Why?\r\n\r\n1. Homeowners assume attorneys are too expensive.\r\n2. Attorneys assume too much liability with little chance of success.\r\n\r\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing &amp; success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\r\n\r\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\r\n\r\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\"></a>','Attorneys -Foreclosure Defense ','','inherit','open','open','','380-revision-7','','','2010-08-12 14:43:48','2010-08-12 14:43:48','',380,'http://h4hconsulting.com/cms/520/380-revision-7/',0,'revision','',0),(519,1,'2010-08-12 15:33:37','2010-08-12 15:33:37','Dear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously losing owners seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees and continue to grow my property management company.\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Property Management Testimonials','','inherit','open','open','','501-revision-3','','','2010-08-12 15:33:37','2010-08-12 15:33:37','',501,'http://h4hconsulting.com/cms/519/501-revision-3/',0,'revision','',0),(523,1,'2010-08-12 14:43:12','2010-08-12 14:43:12','To request a password for the H4HC Video Library, please complete the form below. You will be issued access immediately upon submission.','Request Password','','inherit','open','open','','285-revision-3','','','2010-08-12 14:43:12','2010-08-12 14:43:12','',285,'http://h4hconsulting.com/cms/523/285-revision-3/',0,'revision','',0),(524,1,'2010-08-12 19:40:02','2010-08-12 19:40:02','Do you think a Foreclosure Defense practice can’t be profitable? Think Again….\r\n\r\n* Six million families are more than two months behind with their payments.\r\n* 200,000 more families receive foreclosure notices each month.\r\n\r\nOf those, only 1% are being defended in FL\r\n\r\nWhat’s missing? Attorneys. Why?\r\n\r\n1. Homeowners assume attorneys are too expensive.\r\n2. Attorneys assume too much liability with little chance of success.\r\n\r\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing &amp; success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\r\n\r\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\r\n\r\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\"></a>','Attorneys & Foreclosure Defense ','','inherit','open','open','','380-revision-8','','','2010-08-12 19:40:02','2010-08-12 19:40:02','',380,'http://h4hconsulting.com/cms/524/380-revision-8/',0,'revision','',0),(525,1,'2010-08-16 15:00:37','2010-08-16 15:00:37','Do you think a Foreclosure Defense practice can’t be profitable? <a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/Sales-Book-Complete.pdf\">Think Again….</a>\r\n\r\n* Six million families are more than two months behind with their payments.\r\n* 200,000 more families receive foreclosure notices each month.\r\n\r\nOf those, only 1% are being defended in FL\r\n\r\nWhat’s missing? Attorneys. Why?\r\n\r\n1. Homeowners assume attorneys are too expensive.\r\n2. Attorneys assume too much liability with little chance of success.\r\n\r\nObviously, there is a large virtually untapped market available. In our conversations with attorneys we have found their concerns can be summarized into four areas; profit, liability, marketing &amp; success.  With H4H Consulting handling all the day to day paperwork and communication, the attorney’s are largely shielded. And our proven marketing plan and knowledge of fees and costs for defending foreclosure cases help expand your practice while increasing profitability.\r\n\r\nHope4Homeowners Consulting can provide you with all the documents you need, as well as the pricing of these services to assure an immediate impact to your bottom line. The average defense can last 12 to 18 months or more. The homeowner may not be able to afford their mortgage, but they certainly can take the money that is not going toward their home, to afford your services. Don’t mistakenly assume foreclosure equals no money!\r\n\r\nH4H Consulting can partner with you to grow your business. We can show you how to succeed.<a href=\"http://h4hconsulting.com/cms/attorneys/\"></a>','Attorneys & Foreclosure Defense ','','inherit','open','open','','380-revision-9','','','2010-08-16 15:00:37','2010-08-16 15:00:37','',380,'http://h4hconsulting.com/cms/525/380-revision-9/',0,'revision','',0),(521,1,'2010-08-12 19:31:24','2010-08-12 19:31:24','Hope for Homeowner’s Consulting has been a huge help with my mortgage crisis.  My wife and I could no longer afford to pay our mortgage so we contacted Chris Sommer at H4H and he showed us how to best handle our situation.  He gave us a detailed outline of how his company was going to help us through our difficult financial state of affairs.\r\n\r\nChris took the time to explain in detail how the entire process works and what our options throughout the process were going to be.  Since we hired Chris he has taken care of all of the communications with our mortgage company and made our lives much easier.  He has met all deadlines and for us and continues to be available to us whenever we have questions.\r\n\r\nI highly recommend H4H Consulting.\r\n\r\nRob Sullivan\r\n\r\nChris,\r\n\r\nThanks so much for working with us on our home. I didn’t know where to turn or what my options were before I met with you.  You have definitely eased my mind!\r\n\r\nBetween trying to start up a company on our own and the value of our home dropping 60% in the last couple years we have taken a big hit financially. We never expected to be in this situation:  using all of our savings and retirement funds, not being able to afford our mortgage payments, and running out of options.\r\n\r\nThanks to you we now have a plan, including an exit strategy and help with the many debt collection calls we were receiving on an hourly basis.  It’s been a huge relief!\r\n\r\nNow we know what to do and when, and most importantly, we know we won’t be faced with a huge deficiency judgment when it’s all done. Again, I can’t thank you enough!\r\n\r\nSincerely,\r\n\r\nJosh Danielson\r\n\r\n<img src=\"file:///C:/Users/Tina/AppData/Local/Temp/moz-screenshot.png\" alt=\"\" />\r\n\r\nApril 2, 2010\r\n\r\nHope for Homeowners Consulting\r\n\r\nATTN: Chris Sommer\r\n\r\n4302 Mahogany Wood Ct.\r\n\r\nBrandon, FL 33511\r\n\r\nDear Chris:\r\n\r\nI want to thank you for everything you have done for me. With five years of experience as a mortgage banker, licensed real-estate agent, and a finance degree I was confidant I would be able to handle the short sale/loan modification process with my banks on my own. WOW was wrong! For months I battled via phone , US Mail and fax trying to get help from my bank and got nowhere. I felt like I was actually moving backwards. After I was referred to you and you took the process by the reins I felt like 1,000 LBS had been lifted from my shoulders. I have settled all my credit card debts and well along the way to short selling my investment properties. I love the way you keep me informed of the pertinent items I needed to know and relieve me of the headaches of dealing with automated phone systems and nonresponsive bank employees.\r\n\r\nThank you again for all your help and I recommended you to everyone I know that can use your help.\r\n\r\nSincerely,\r\n\r\nJamie Garrison\r\n\r\nDear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously losing owners seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees and continue to grow my property management company.\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Property Management Testimonials','','inherit','open','open','','501-revision-4','','','2010-08-12 19:31:24','2010-08-12 19:31:24','',501,'http://h4hconsulting.com/cms/521/501-revision-4/',0,'revision','',0),(526,1,'2010-08-12 15:51:54','2010-08-12 15:51:54','Hope for Homeowners Consulting has been a huge help with my mortgage crisis. My wife and I could no longer afford to pay our mortgage so we contacted Chris Sommer at H4H and he showed us how to best handle our situation. He gave us a detailed outline of how his company was going to help us through our difficult financial state of affairs.\r\n\r\nChris took the time to explain in detail how the entire process works and what our options throughout the process were going to be. Since we hired Chris he has taken care of all the communications with our mortgage company and made our lives much easier. He has met all deadlines for us and continues to be available to us whenever we have questions.\r\n\r\nI highly recommend H4H Consulting.\r\nRob Sullivan\r\n\r\n<em>Dear Chris,\r\nI want to thank you for everything you have done for me. With five years of experience as a mortgage banker, licensed real-estate agent and a finance degree I was confident I would be able to handle the short sale/loan modification process with my banks on my own. WOW was I wrong! For months I battled via phone, US Mail, and fax trying to get help from my bank and got nowhere. I felt like I was actually moving backwards. After I was referred to you and you took the process by the reins I felt like 1,000 LBS. had been lifted from my shoulders. I have settled all my credit card debts and am well along the way to short selling my investment properties. I love the way you keep me informed of the pertinent items I needed to know and relieve me of the headaches of dealing with automated phone systems and none responsive bank employees. </em>\r\n\r\n<em>Thanks again for all your help and I recommend you to everyone I know that can use your help.\r\nSincerely,\r\nJamie Garrison</em>\r\n\r\nChris,\r\nThanks so much for working with us on our home. I didn\'t know where to turn or what my options were before I met you. You have definitely eased my mind!  Between trying to start up a company on our own and the value of our home dropping 60% in the last couple of years, we have taken a big hit financially. We never expected to be in this situation: using all of our savings and retirement funds, not being able to afford our mortgage payments, and running out of options.\r\n\r\nThanks to you and your team we now have a plan, including and exit strategy and help with the many debt collection calls we were receiving on an hourly basis. It\'s been a huge relief!!\r\n\r\nNow we know what to do and when, and most importantly, we know we will not be faced with a huge deficiency judgment when it\'s all done. Again, I can\'t thank you enough!!\r\nSincerely,\r\nJosh Danielson','Testimonials','','inherit','open','open','','355-revision-17','','','2010-08-12 15:51:54','2010-08-12 15:51:54','',355,'http://h4hconsulting.com/cms/526/355-revision-17/',0,'revision','',0),(527,1,'2010-08-16 14:52:57','2010-08-16 14:52:57','Dear Chris,\r\n\r\nI have to tell you I used to feel desperate in this economy, like I had no choices for my owners who were losing their homes to foreclosure. Obviously losing owners seriously affected my business profitability as well. Due to your involvement with my business, I\'ve been able to offer my owners the ability to work things out with their banks. I can now sustain my company and keep most of those owners, enabling me to continue to collect my management fees and continue to grow my property management company.\r\n\r\nI appreciate your professionalism and expertise in the foreclosure and distressed property industry- and the fact that you quickly get back to my clients. I know you\'re giving them information they otherwise would have not known. They\'ve told me it gives them peace of mind, and for once, they feel that there is hope.\r\n\r\nSincerely,\r\n\r\nL. Michelle Pentifallo\r\n\r\nOwner/Broker First In Property Management','Property Management Testimonials','','inherit','open','open','','501-revision-5','','','2010-08-16 14:52:57','2010-08-16 14:52:57','',501,'http://h4hconsulting.com/cms/527/501-revision-5/',0,'revision','',0),(528,1,'2010-08-12 14:46:29','2010-08-12 14:46:29','To receive our free download, \"Loan Modification: Tips and Best Practices\", please submit the form below.','Free Download Request','','inherit','open','open','','238-revision-4','','','2010-08-12 14:46:29','2010-08-12 14:46:29','',238,'http://h4hconsulting.com/cms/528/238-revision-4/',0,'revision','',0),(529,1,'2010-08-16 14:55:42','2010-08-16 14:55:42','<h2>Watch our free Foreclosure Advice Webinar!</h2>\r\n<div id=\"_mcePaste\">\r\n<div style=\"line-height: 1.8em;\">\r\n<div><span style=\"font-family: Consolas, Monaco, \'Courier New\', Courier, monospace;\"><span style=\"line-height: 22px;\"><a href=\"http://h4hconsulting.com/cms/services/request-password/\"><img class=\"alignnone size-full wp-image-289\" title=\"H4HC Video Library\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/video.jpg\" alt=\"\" width=\"599\" height=\"361\" /></a></span></span></div>\r\n<ul>\r\n	<li><strong>Are you upside down on your home?<a href=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/family.jpg\"><img class=\"size-full wp-image-10 alignright\" title=\"Help for homeowners is only a click away.\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/family.jpg\" alt=\"Help for homeowners is only a click away.\" width=\"304\" height=\"202\" /></a></strong><strong> </strong></li>\r\n	<li><strong>Do you know what a<a href=\"http://h4hconsulting.com/cms/video-library/how-will-a-deficiency-judgment-impact-me/\"> Deficiency Judgment</a></strong><strong> is and how it could harm you financially?</strong></li>\r\n	<li><strong>What is a <a title=\"What is a strategic default?\" href=\"http://h4hconsulting.com/cms/faq/strategic-default/\">strategic default</a></strong><strong> and why should it concern you?</strong></li>\r\n	<li><strong>Are you, or do you know an investor with multiple properties who\'s losing money?</strong></li>\r\n	<li><strong>Have you recently lost a job and fallen behind on your mortgage? </strong>\r\n<div style=\"height: 0.8em; visibility: hidden;\"><strong>.</strong></div>\r\n<strong> </strong></li>\r\n</ul>\r\n</div>\r\n</div>\r\n<div id=\"_mcePaste\">\r\n\r\n<img class=\"alignleft size-full wp-image-68\" style=\"margin-left: 10px; margin-right: 20px;\" title=\"Chris Sommer\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/ChrisSmall.jpg\" alt=\"\" width=\"112\" height=\"139\" />\r\n<div style=\"height: 0.8em; visibility: hidden;\">.</div>\r\nHello, my name is Chris Sommer, Managing Director with Hope for Homeowners Consulting. We provide solutions to these and other challenges that today\'s economy presents to homeowners.\r\n\r\n</div>\r\n<div style=\"height: 2.2em; visibility: hidden;\">.</div>\r\n<div style=\"height: 1.2em; visibility: hidden;\">.</div>\r\n<div><strong>Our solutions include</strong>:</div>\r\n<div id=\"_mcePaste\">\r\n<ul>\r\n	<li>Foreclosure Defense</li>\r\n	<li>Short sale</li>\r\n	<li>Property management</li>\r\n	<li>Loan modification</li>\r\n</ul>\r\n<em><strong> Many other services may be available.....</strong></em>\r\n\r\n</div>\r\n<div id=\"_mcePaste\">We will tailor a solution that meets your specific needs, and support you throughout the process from beginning to end.</div>\r\n<div><a href=\"http://h4hconsulting.com/cms/?page_id=48\"><img class=\"aligncenter size-full wp-image-58\" style=\"margin-top: 20px; margin-bottom: 20px;\" title=\"Fight Back &amp; Get Started Now!\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/start.png\" alt=\"\" width=\"300\" height=\"73\" /></a></div>','Home','','inherit','open','open','','5-revision-v1','','','2010-08-16 14:55:42','2010-08-16 14:55:42','',5,'http://h4hconsulting.com/cms/529/5-revision-76/',0,'revision','',0),(547,1,'2010-08-16 19:34:04','2010-08-16 19:34:04','<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><img class=\"alignnone size-full wp-image-94\" title=\"services_07\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_07.jpg\" alt=\"\" width=\"106\" height=\"106\" /></a></td>\r\n<td><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><strong>Loan Modification</strong></a> A mortgage modification generally occurs when both parties (borrower and lender) to a problem loan mutually agree to work out the issues by creating new and better loan terms. The hope is that the new improved mortgage will enable the borrower to meet their obligations and avoid foreclosure. But is a loan modification the best solution? We can help you find the best option for your situation.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><img class=\"alignnone size-full wp-image-95\" title=\"services_10\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_10.jpg\" alt=\"\" width=\"106\" height=\"106\" /></a></td>\r\n<td><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><strong>Short Sales</strong> </a>When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales. But a short sale may be one of the best options available for you in this market. We will work with you to consider a short sale, as well as handle the lender communication and apply any pressure needed to get the best outcome for you.<a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"></a></td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><img class=\"alignnone size-full wp-image-96\" title=\"services_12\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_12.jpg\" alt=\"\" width=\"106\" height=\"105\" /></a></td>\r\n<td><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><strong>Property Management </strong></a>Our mission is to ensure that every property owner has a competent and honest professional to manage their most valuable asset. Property management can be an option for homeowners looking to offset their mortgage payment or legal defense. The responsibility of maintaining and running the property can be overwhelming. For many homeowners, the logical solution is to hire a property management company to oversee their rental property.</td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"></a></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><img class=\"alignnone size-full wp-image-97\" title=\"services_14\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_14.jpg\" alt=\"\" width=\"106\" height=\"106\" /></a></td>\r\n<td><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\">Credit Repair  Your situation is unique. And our personal approach to credit repair utilizes the widest range of tools available to address your requirements - and insure that you get the results you deserve. We will evaluate your credit reports and develop a plan based on your needs. And as we continue to manage your account we will tailor our services to events as they arise.  Whether you need to clean up your credit reports, rebuild your credit, boost your credit scores, or deal with active collection accounts, we offer the most appropriate and efficient solution.</a></td>\r\n</tr>\r\n<tr>\r\n<td colspan=\"2\" valign=\"top\"></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td valign=\"top\"></td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td width=\"125\" valign=\"top\"><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><img class=\"alignnone size-full wp-image-98\" title=\"services_16\" src=\"http://h4hconsulting.com/cms/wp-content/uploads/2010/05/services_16.jpg\" alt=\"\" width=\"106\" height=\"106\" /></a></td>\r\n<td><a href=\"http://h4hconsulting.com/join/index.php?main_page=product_info&amp;cPath=1&amp;products_id=1\"><strong>Debt Settlement</strong></a> We offer a settlement program wherein we negotiate with your creditors and collection agencies in order to settle the debt for less than what you owe. With proper help you can lower your monthly payments, reduce interest rates, waive late fees, eliminate collection calls, avoid bankruptcy, have only one monthly payment, and become debt free. Keep in mind, however, your credit score is likely to go down when you stop paying creditors and save money for debt settlement.</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>','Services','','inherit','open','open','','27-revision-v1','','','2010-08-16 19:34:04','2010-08-16 19:34:04','',27,'http://h4hconsulting.com/cms/547/27-revision-23/',0,'revision','',0),