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can't make your mortgage payment?    

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www.Discrete Referral Network.com

Welcome to the Discrete Referral Network.

We won't pursue you.  That is not our style.

We will provide information and wait for you to reach out to us.


When you are ready.

We would love to help you.

So many people in our country are under so much stress over their rising mortgage payments. 

If they don’t take steps to get some clarity regarding their situation and the big picture, it is either going to slowly start destroying their relationships or make them ill.

If you can't make your mortgage payment, we can help you.

We worked through it the last time it happened. We saw it start to happen in late 2006 and it all came to a head in 2010.  Is it happening again?  Regardless, we would love to help you.

Every member of the Discrete Referral Network either went through it personally, or helped people through it then, or are very educated about how the cycle works.

I both went through it myself, and helped a lot of people through it. The whole country bumbled through it until we worked out a smooth system. I personally made professional mistakes helping people through it and learned from them.  I, and those of us who helped people through it the last time, are extremely well prepared this time. I know how to do it ethically.
Cycles happen. That 2006-2010 cycle had a name. Cycles have happened before that one, too, with different names. 

It is fairly predictable.  

Fortunately, the strategy for recovery is well travelled and predictable, too. 

Some people will get a head start on recovery and be in a much better position than those who don’t know what is going on.

Are you in that situation? Or someone you love? 

Do you think you can get caught up?  We can tell you how to proceed.

We hope you can keep your home.

Do you think you can't?  We can help you. 

At the end of this letter, we will tell you what you can say to others to protect your dignity. 

If you are in shock or overwhelmed in any way, you can sign a Letter of Authorization that allows a real estate agent to talk to your mortgage servicer about your options and then tell you what they said.  Sometimes it helps to have an agent to get things unstuck.

This is a free service to you--the real estate agent pays a percentage of his or her commission.  We hope you will turn to us when you need help and will refer us to others.  

We are here to make it much, much easier on you.

If you already know you need that assistance now, reach out to us or let us know by entering your email contact below.  

We believe everyone bought their houses believing that owning a house would provide financial security, stability, and a place for emotional warmth. 

That belief made perfect sense at the time: interest rates were historically low, housing values were rising, and for many people owning a house was a perfect plan for forcing oneself to save for the future and retirement. All one had to do was make the monthly mortgage payments.

But is that still the reality? 

Now that interest rates have adjusted upward, the increased monthly mortgage payment is creating great instability and stress for many families.

While some industries may be growing, others are having lay-offs.  Are you in that situation?

If you think you can pull it out and stay in your house, we have ideas below on how to proceed with gathering the information about how to do it.

For some people, homeownership is no longer financial security; it is an oppressive burden.

Or at least servicing the debt on their current home is a burden.

Some homeowners are either working so incredibly hard to pay the monthlies they don’t have enough money for the extras or even necessities, no free time for relationships or hobbies, and no joy to share. Their house is no longer a place of emotional security and warmth.

Some people just need to make a psychological adjustment and transition into a different house.

Some people spent all the savings they had the past two years.

The truth is, they would be happier paying less moving into a less expensive home or by renting a place and getting their life back. The transition itself, though not usually fun, can be done and over in only a week or two.

(What is your theory about, say, pulling off a band-aid, for example? Do you do it quickly, get past it, behind you, and moving onto bigger and better things?)

It would hopefully be a quick transition period from moving to the less expensive home or rental back into homeownership… but this next time on firmer financial footing!

Many people are fighting so hard to hang onto their houses they are making unwise decisions for the long term: cashing out retirement savings and even using credit cards to pay their monthlies.

Making mortgage payments on credit cards and using retirement funds is not sustainable. It is better to make the hard choice now and save yourself and your family whatever remaining financial resources you have. Don’t give every last dollar to the lender.

Reach out. We’ll help you through it.

went through it and am on the other side.

When you get to the point where you are either using retirement savings or using credit cards, or are considering doing that, you need to stop and come up with a different plan.

Have you already explored all options for increasing your cash flow?   Would you like some assistance?

If so, or, if you can't, at this point the reality is you have three options: 

1) list your house for sale and move into peace of mind, 

2) keep draining your retirement accounts, 

3) let the bank foreclose on your house.

Which choice will advance you and your family quicker?

Property values, though they have historically risen, won’t continue to rise if the demand isn’t there due to rising interest rates.

Our team can do a quick, free comparative market analysis to help you discern if in your neighborhood it is prudent to put your savings into the property, or if it is more prudent and less financially painful in the long run to sell your property now.

Take into consideration what will happen if interest rates continue to rise and property values start to decline.

Will you have any equity in your house if interest rates continue to rise and property values decline?

How quickly, if at all, will property values decline in your neighborhood?  Some regions and neighborhoods will weather a recession a lot better than others.

We would like to educate you and help you get ahead of the curve.

We know from experience these cycles only get more challenging if one doesn’t learn from the past or stays in denial about the possible trajectory of the economy and house values.

We've experienced it ourselves!

We can encourage and support you with communicating with your lender.

If the emotionally sensitive analysis indicates it is prudent for you to move into a new situation, and you agree it will give you greater peace of mind to move, our team will make it as easy and smooth as possible.

You will be freed up to look ahead and focus on establishing a stronger foundation on which to build up your financial security.

If you have no equity in your property, the options you have are: 

to try to hold onto it without draining your savings, if it makes financial sense in the long run; 

or to do a short sale, which we explain below; 

or to walk away and let the bank foreclose on it.  You want to try every possible option before walking away.

From our first conversation, we help them review what happened, how they got where they are, what options they have, and where they can go to start building on a solid foundation.

Moving is a very emotional decision. In these times it is complicated by the feelings of confusion or failure and the loss of a dream. I know. I went through it a long time ago.  It's a psychological adjustment complete with the grieving process, so we want to help you truncate the hard part.  Make it healthy and fast!

You have company.  

And you may be able to negotiate a way to stay in your property. 

It is interesting that no one ever thinks of people from the Great Depression as irresponsible or lazy or deserving of shame. 

Maybe you are having a one-person Great Depression, or maybe we're in an economic cycle.

At any rate, they were people like us who made the best decision they could and did the best they could at the time.

So it is with us. This is our time in history and we have to make the best decisions we can under the circumstances.

Our team has the gift of having a bigger picture on it than most people.

It is common for our clients to feel guilty and blame themselves for getting into loans they can no longer afford.

Our take on it is that we all made optimistic decisions at the time based on the information we had. 

We were trying to get our families and ourselves ahead.

This past housing boom coincided with an initiative to stimulate and sooth the economy by lowering the interest rates. It was meant as a good intention.

It seemed that interest rates were so low and property values were rising so quickly it would be imprudent not get into the market.

Loan agents were doing the job they were hired to do: selling their company’s products, like the loan you received, and were proud to help you achieve your dreams and the American Dream. Probably the majority of them were doing good work, selling a reasonable product that was in demand.

It is challenging to foresee an undesired consequence.

Well, hindsight is 20/20, as they say.

This is our time. Hopefully it won’t become a Great Depression scenario. 

All we can do is to maintain our dignity, make hard choices, and get on with building a great life.

Speaking of maintaining one’s dignity, it is no-one’s business but your own that you are getting out of a property you can no longer afford.

If asked, or you feel compelled to explain your decision to move, you can say, “Interest rates may continue to rise, and we decided it is prudent for us to get out at the top of this cycle”, or, “We thought it would be a more prudent financial decision to sell, wait for the market to adjust, then get back into the market at an opportune time”, and leave it at that. 

You can frame it like you are an economist-educated insider protecting your family’s interests.

If you are ready to be pro-active, give us a call. We will be happy to answer your questions on the phone, via an online meeting, or in person.

We hope this has been useful to you in some way. 

Again, please feel free to reach out to us. 

We can help you wherever you live. 

My team of friends and I have Discrete Referral Network colleagues we trust everywhere in the North America.

If you want to know how to talk to your lender, please look for our free mini-report below.

www.    Discrete Referral Network     .com

How to Talk To Your Bank or Mortgage Servicer 

Record and or write down everything so you can review it later.

Please tell your loan servicer you already have a real estate agent for the sale or short sale. We will protect your interests.
Before you call the mortgage servicing person at your bank or wherever the mortgage is being held, be prepared to respond by reviewing the following steps:

Make a list of your income and expenses. Be ready to show that you are making a good faith effort to pay your mortgage by lowering other expenses.   A major U.S. bank investment department uses the quick budget form which you can download here:

Have a fairly clear idea of the current value of your property. Ask us to help you determine a property value by entering your address right here.... It's free.
Before you pick up the phone to talk to the bank, be prepared to document everything. Perhaps keep a notebook as a journal, or create a file in your computer to document conversations and keep the information organized and easily accessible.

Include the date and time of any contact whether you met face-to-face or communicated by phone, email, or postal mail, the name of the representative you dealt with, what you discussed, and the results.

It may be a different contact every time, so document every name, the date and time of any contact, and whether you met face-to-face or communicated by phone, email, or postal mail, what you discussed, and the results.

Follow up on any requests the person you spoke with made by sending them an email or registered mail letter. You need to remember what you were asked to do, what you promised to do, and by when. Keep thorough documentation.

The Call:

The date:___________________ 

The time:___________________

The phone number:____________________

“Hi. My name is _____________ and I have a mortgage with your mortgage department. 

I’m calling you because I can’t pay my mortgage and I need to know what my options are.

What is your name? What is your contact information? Your direct phone line or extension number?  Email address?  Mailing address?”

Let them explain the options to you.  Document what they say thoroughly.

They may offer you some of the following options. Familiarize yourself with them so you can follow the conversation more easily.

You may be able to:

1. refinance 

2. get a loan modification,

3. work out a temporary repayment plan,

4. or get a forbearance.

1. A refinance would change the terms of your loan to hopefully something you can afford to sustain even if it is an adjustable interest rate, and interest rates adjust upward.  Ask someone to assist you with objectivity.

2. A mortgage loan modification is a change in your loan terms.

The modification can reduce your monthly payment to an amount you can afford.

Modifications may involve extending the number of years you have to repay the loan, reducing your interest rate, and/or forbearing or reducing your principal balance.

If you are offered a loan modification, be sure you know how it will change your monthly payments and the total amount that you will owe in the short-term and the long-term.

3. A repayment plan is a structured way to make up your missed mortgage loan payments over a certain period of time. If you have trouble making your mortgage payments, your lender or servicer may allow you to enter into a repayment plan. 

Before entering into a repayment plan, make sure you understand the requirements of the plan and whether you will be able to make the new payments.

4. Forbearance is when your mortgage servicer or lender allows you to temporarily pay your mortgage at a lower payment or pause paying your mortgage. You will have to pay the payment reduction or the paused payments back later.

If you have no other option than to move, please allow us to handle the sale of your property or handle your short sale.

A short sale is when you sell your home for less than what you owe on your mortgage.  We can help you do it.  You are required to find the buyer and negotiate the sale, and you or your real estate agent communicates with the loan servicer about what the bank will accept. 

Ask someone to assist you with objectivity in making decisions.

Again, please tell your loan servicer you already have a real estate agent for the sale or short sale. We will protect your interests.

If you need to make a move, or even if you are unsure if you need to, be proactive and start looking at less expensive home or rental options with us now. If you need to go either route, be competitive and get yourself in the best situation you can. Remember, if you take that path, it’s just for a season. It may be a very short season, too.

Some of this information is from consumerfinance.gov.

We hope this information is helpful.  Let us know how we can improve it so we can help whoever needs it.

Enter your email to receive our concise, informative and supportive emails.

When you are ready, reach out to us at your convenience.  

We will offer you helpful information, but we won't pursue you.   

That is not our style.  

You need to reach out to us.  Anytime.  When you are ready.

www.      Discrete Referral Network      .com

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