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Chaldeans Homeowners Looking for Rescue Plan, May Have Found One in the Short-Sale
By Mo Thweny :: Sunday, October 5, 2008 :: 31641 Views :: Business & Finance

Michigan, USA - Today, many homeowners are unable to make their monthly mortgage payments due to job loss, health issues or an adjusting ARM and are opting to do a foreclosure. The government bailout of banks will not offer much reassurance and those choosing to walk away from their home, especially Chaldeans, might consider a few things first. 

A foreclosure ruins a borrower’s credit for about 10 years, making them unable to buy another home, purchase a new car, impact businesses loans, or even prevent them from getting a new job.

Shrewd Chaldeans are considering a little known option for homeowners called a “Short-Sale”.

A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy.  The first thing a borrower should do is contact the lender immediately. Lenders typically have departments that work with people who are behind on their payments to resolve the situation. If you cannot resolve the default with the lender, and you want to see if they will accept a short sale, they will direct you to the department that handles short sales.

If your lender agrees to a short sale, you then hire a real estate agent that specializes in short sale offerings to help find a buyer. The expert agent helps structure a deal whereby you sell your home, and the lender agrees to take the loss contractually agreeing not to go after the homeowner for the difference that is owed. The “Short-Sale” prevents a wrecked credit history and any possible legal action.  Best of all, many banks are eager to help arrange “Short-Sales” in order to keep their inventory of foreclosed homes and the high cost of foreclosed home maintenance. 

Here is an example of a short sale: A homeowner, who is facing foreclosure, owes $250,000 on the first mortgage. An offer is submitted to the lender for $175,000, which is accepted as full payment of the loan. Banks are willing to go through this process because they do not like to hold excess inventory or bad loans. Additionally, a foreclosure usually ends up costing the bank more money in the long run.

Chaldeans have to act fast.  The best time to hire a Short-Sale real estate agent is when you are 1-2 payments behind in your mortgage.  If a homeowner falls behind on a mortgage for too long, that puts the bank in a financial position to force the home into foreclosure to better their books.  The key to a Short-Sale is having the right agent with the proper connections and reputation to expedite the process and the timing of when to approach the bank.  

 


Mo Thweny is a Michgian licensed real estate agent with Remerica Hometown One and a Short-Sale process expert.  Mr. Thweny has given formal and informal talks, lectures, and workshops on negotiating managing a successful Short-Sale.  Those interested in learning more about real estate or the Short-Sale process can call Mr. Thweny direct at (248) 514-9662

Media Propaganda, coruption, and conspiracy

Chaldean Justice League has noticed an ongoing and orchestrated bias in media.  Presenting information in an unfair and unjust way seeds a mindset that bears the fruit of injustice.  The propaganda used by the media has been recorded and captured by the Media Research Center. 

We share their findings with the Chaldean community as a demonstration of media propaganda and the injustice born of such fraudulent journalism.  The covert attempt to change the will of the people through propaganda is in itself corrupt. 

Chaldean Justice League

The Chaldean Justice League (CJL) is a group of concerned Chaldean community leaders working to address issues of injustice.  The CJL invites any Chaldean to join the league and assist in challenging unfair policies and practices. 

CJL Efforts:

  • Miller Boycott (Program Ended):  Organize efforts to boycott Miller brewing company for their support of anti-Christian hate groups.
  • Chaldean Business Discrimination (Program Ongoing):  Organize businesses to address unfair municipal or vendor practices relating to permits and product purchasing.
  • Christmas Grinch List (Program Ongoing): A program to provide information on businesses that refuse to acknowledge Christmas while using the holy day as a means to entice shoppers.  CLICK HERE
  • Voter Registration (Program Ongoing): Working with the Chaldean Caucus to register Chaldeans.
  • HDTV Converter Coupon Application (Program Ongoing):  Working to assist the Chaldean community in receiiving the U.S. Govt. $80 coupons for digital television converters.

If you have a cause or concern you feel the Chaldean Justice League should consider please e-mail ChaldeanJustice@yahoo.com.