Coldwell Banker Residential Brokerage, Licensed in Arizona - Phoenix, AZ - (800) 736-2610 Linda Lightfoot Managing Broker - Martha Appel Designated Broker

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By the way, as of 30 September 2012
the HAP Program has shut down for all new applications
Call us for details 602-796-5674
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HAP How Long Does It Take To Close a HAP Transaction?

HAP Has Gone On-Line

HAP Rules in a Nut Shell

HAP Rules Long Form

Download Short Sale Package NOW! Don't Delay

Underwater with your Mortgage?
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Consequences of Electing a Foreclosure vs. Short Sale

Arizona Short Sale Advisory

Sample Short Sale Approval Letters & How We Work

A Touching eMail from one of our Clients in Iraq

What Happens to Lori & G-II's Short Sale Clients in a Short Sale?

Arizona Anti-Deficiency Statute

Anti-Deficiency & VA Loans

Contact a Real Estate Attorney

Making Home Affordable
Government Help Site

Mortgage Modification, What Does That Mean? FAQs   

Short Sale FAQs for Home Buyers and Home Owners

Exposing the "You MUST be late on your mortgage to be approved for a Short Sale" Myth!

How FICO Credit Scoring Works

Mortgage Modifications (PDF file)
as of 6 April 2009
(The biggest joke yet from the Treasure
) Read our BLOG

NON Freddie Mac, Fannie Mae, Ginnie Mae & Sallie Mae (PDF file)
as of 26 March 2010

Fannie Mae (PDF file)
as of 1 June 2010

Freddie Mac (PDF file)
as of 1 June 2010

Is the FDIC in bed with One West Bank and Goldman Sachs

Fannie Mae & Freddie Mac on Short Sale vs Foreclosure

Fannie Mae will Rent Back to Foreclosed Homeowners

Various Mortgage Work-Out Programs

Countrywide/Bank of America Mortgage Work-Out Program details

CitiGroup/CitiMortgage Mortgage Work-Out Program

VIDEO Congress Woman Maxine Waters & BofA

Aurora Mortgage Mortgage Assistance Packages & Forms

Federal Government Loan Modification Program

Bank of America Announces  Nationwide Homeownership Retention Program for Countrywide Customers

FHA HOPE for Homeowners Program

Wells Fargo Short Sale TimeLine

The Foreclosure Prevention Act of 2008

The Mortgage Forgiveness Debt Relief Act of 2007

What Does The IRS Say About Debt Cancellation?

After you have completed your Short Sale, fill out the IRS Form 982

Short Sale vs. REO Transactions VIDEO

How To Stop Foreclosures

Download FREE Short Sale Pkg

Coming Soon  10


HAP ALERT! HAP ALERT:  Congress once again, attacks the men and women of the Armed Forces - Ok… so it appears that on 15 December 2012, the Senate has stripped Section 2864, the HAP (Housing Assistance Program) provision, from H.R. 1540. Section 2864 of H.R. 1540 National Defense Authorization Act for Fiscal Year 2012 would have advanced the HAP mission to do the following... CLICK HERE to read MORE

Should you feel bad or shamed if you find yourself facing financial decisions  that have been framed around the crumbled economy? Should you not do all you can to protect your family from eventual financial ruin, less you make a decision - one way or the other? You are one of the millions of home owners throughout the United States who have had the equity in their home evaporate like an ice cube held in Satan's hands.  Click the following link to see that you are in excellent company and even more enlightening is the reality that there is "light at the end of the tunnel". FAMOUS PEOPLE WHO LOST IT ALL AND WENT ON TO BUILD EVEN GREATER WEALTH.

Click to listen to Elizabeth Warren, Congressional Oversight Panel speaks out about the Obama Making Home Affordable program.  You decide if it's working!

President Obama and his administration have reached out to the banking community in an effort to gain their support of his efforts to provide mortgage assistance to qualified and responsible home owners. If you are currently delinquent or fear you will become delinquent in your mortgage and your home loan is equal to or less than $729,750.00 and your monthly payment, including principal, interest, tax, insurance and HOA dues, is greater than 31% of your gross monthly income (that means before taxes) you may qualify for one of many loan modification or loan refinance programs. The White House has built a web site,, that will point you in the right direction.

However... if you find yourself outside of the parameters described in the  Making Home Affordable web site, then we're here to help. 

We are aware of dozen's of mortgage modification efforts that have met with disastrous results, or no results at all.  Not one bank, that we are aware of, has offered any real, meaningful assistance to home owners who are in difficult financial positions.
Scenario One:
In one instance we encountered a gentleman who had been earning a six figure income in the automotive industry as a sale person for a national auto parts distribution company.  His job was lost to the fall of the auto industry.  His mortgage payments were now more than he would afford, even though he had secured a job as a clerk for a local retail store.  His wife is a stay at home mom, taking care of their four children.  His home was underwater by 60% of its value when he purchased the home in May 2006.  The Obama Making Home Affordable program did nothing to offset the negative equity.  Even if he had agreed to the meager terms of the loan modification offered through the bank who holds his note, he would not regain enough equity to sell his home at even a break even price for 24 years.  His frustration levels grew so furious that he simply sent his keys back to the bank.  He knows that such a strategy will prohibit him from entering the home ownership finance arena for 4 to 7 years, but in his case, his anger was so profound that he simply wanted to inflict as much pain as possible on the uncooperative banks, Fannie Mae and Freddie Mac.
SIDE BAR FOOT NOTE: We never suggest this course of action.  The anger you feel toward the bank should be channeled to uplift you and your family, not drag you and your family down to the low levels of despicable disregard for human tragedy, often displayed by ALL banks.

Scenario Two:
In yet another instance of mortgage modification effort, this time with a different bank, our client was a retired steel worker.  His wife works for the bank that holds the mortgage on their home.  After months of failed efforts to make "first contact" with the mortgage workout department at the bank, we and our client began a dialogue with a very kind and knowledgeable mortgage work out analysis.  Our client had an Interest Only loan that is going to trip to a higher rate in just a few years.  After weeks of investigation our contact in the the banks mortgage work out department came to us with three scenarios, none of which would help our client.  First up was a program that disqualified our client because his pension and wife's income disqualified them because their income was too high.  Second up was a program that disqualified our client because their income was too low.  The final presentation was for the bank to reevaluate our client's eligibility if they would pay off two current debt obligations that amounted to more than half their annual income.  In every instance we were told that it was a Freddie Mac POLICY to render these decisions and that the bank's hands were tied.  At the end of the day, our client decided to sell his home through the Short Sale process. 

The real tragedy in this story is that the bank approved the short sale of the property to a new home owner for 60% less than the original purchase price.  This is the same deal that our client tried to get the bank and Freddie Mac to cut so that he could stay in his home with his family.  Our client had and has FICOs in the high 700s to low 800s.  He never missed a payment, was never late on a payment, is current with all of his other obligations and yet was chased out of his home because the Obama Home Affordable Program is an UTTER failure!

We have helped dozens of home owners successfully traverse the Short Sale of their home.  A Short Sale may be an appropriate solution for you. Check out Consequences of Electing a Foreclosure vs. Short Sale.  However, you should NEVER make this decision without the council of competent legal advise from an attorney who is proficient in both, local state real estate and tax law.  The two requirements, in our opinion, are integrally intertwined.  We do not believe that speaking to a real estate attorney and then with a tax attorney is an appropriate strategy.  If you wish to meet with one of the top real estate and tax attorney firms in Arizona, make an appointment with Kingman/Winslow.  Contact Sue Bacskay, Administrative Assistant, T: 602-954-2410, 2355 E. Camelback Rd. Ste 440, Phoenix, AZ 85016 - Tell them that Lori & G-II referred you to them.

The mission of and Coldwell Banker Residential Brokerage is to help homeowners save their homes from foreclosure, when possible. Sellers and Buyers searching the Internet with key words such as Coldwell Banker Phoenix, or Mortgage Work-Out Programs will eventually end up at this web site. Please take as much time as you need to search for the Home Retention Program that has the most chance of success for you and your family. When possible, we are here to help you save your home and/or help preserve your dignity and credit where and when possible. If you find yourself in greater distress than any of the programs listed in this web site, simply click the eMail link below or reach us through one of our many Live Chat Tools at the bottom of this page. We can also be reached through SKYPE with ID G2Realtor or Lori.Klindera.  Good luck. We're here to help.

Click NOW to view just a few of our Short Sale Approval Scenarios
Contact Lori & G-II by eMail at or Lori by phone at (602) 574-5674 or G-II by phone at (602) 796-5674
if you need Loan Modification Information, eMail Lori & G-II at

HAP and Short Sale Professionals Quitting is NEVER an OPTION!
Save The Dream

ontact Lori & G-II by eMail at or Lori by phone at (602) 574-5674 or G-II by phone at (602) 796-5674
if you need Loan Modification Information, eMail Lori & G-II at
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