Ginger is able to offer her expertise to save their credit by avoiding foreclosure. If they are jobless and can no longer make their payments, Ginger does not charge them any Realtor fees and can still SAVE THEIR CREIDIT by helping them AVOID FORECLOSURE.  

 

She negotiates with their lenders to sell their house for less than they owe and the lender writes off the difference.  Of course, the new H.R. 3648 ruling means that the IRS will not tax them on their personal residence for the amount they have been forgiven by their lender. (Prior to the 2007 Tax Relief Act, you had to pay Capitol Gains Tax on any loan amount forgiven by a creditor). It's a win-win for both parties, the lender and the borrower because they both avoid foreclosure, but it is especially a big win for our Economy to have one less foreclosure. Often times, this distressed borrower can then buy another home just as soon as their job situation is remedied; since they don't have a foreclosure on their credit, they can still be financed when they are ready again.

 

If they still have a job, but they are having a documentable Hardship, Ginger can negotiate with their current lender to MODIFY their loan so they can keep their house and pay a lower payment until they are back on their feet.  This is not a refinance; there are no Escrow Fees, No Title Costs, and No Appraisal Fees. This is a re-negotiation of their existing loan by lowering the interest rates, extending the number of years, and sometimes even lowering the loan amount.  Ginger gets a lot of satisfaction from doing LOAN MODIFICATION because it really helps the client stay in their home and usually, they are so grateful, Ginger now has gained a customer for life in all their future real estate services.