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1.8 Million Resetting HELOCS Seriously Underwater

August 8, 2016

2015 - 2018 HELOC

More Than I Originally Thought

Did you know that a significant number of Home Equity Line of Credit loans (HELOCS) were due to reset over the current and next couple of years. After checking in to this some more, I was shocked to learn of the actual number of HELOCs that are in danger of defaulting.

A RealtyTrac analysis of open Home Equity Lines of Credit originated during the housing bubble years of 2005 to 2008 shows that there are nearly 3.3 million HELOCs scheduled to reset at fully amortizing monthly mortgage payments between 2015 and 2018 after a 10-year period with interest-only payments.

More than 1.8 million of the resetting HELOCs (56 percent) are on homes that are seriously underwater, with a combined loan to value ratio of 125 percent or more, and the percentage of underwater homes with resetting HELOCs is much higher in some markets such as Las Vegas (89 percent), Inland California (80 percent or more in many markets), Orlando (79 percent), Reno, Nevada (78 percent), and Phoenix (76 percent).

There will affect many homeowners and it just may be the catalyst that pushes them to default on their payments.

I foresee some be some form of Loss Mitigation assistance in the near future.

If you recall, we can help homeowners “recover” money from the Loss Mitigation process and actually receive compensation for showing them the way. It is a win-win for all involved.

My friend Randy Patrick has put the pieces together into a system that will financially help the homeowners and pay you at the same time.

It turns out that he has built a cash flow business based primarily on Real Estate transaction attempts that he had nothing to do with.

There is no risk, no issues and very little effort on your part.

I am sure that you will agree with me after you see his presentation that this is a uniqe way to earn money in the Real Estate market.

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Get paid helping someone recover some much-needed funds as a result of their personal financial crisis.

Once again it is a true “win-win” scenario for everyone involved.

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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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