Tag Archives: Cogburn Law Offices

Underwater? Looking for Options? Seminar

On behalf of Premier Mortgage Lending, we want to thank you for attending our first free public Underwater? Looking for Options? seminar, held on August 8 at the Clark County Library. The response and turnout for the program was incredible and we had a great time meeting with all of you afterwards. We would also like to thank our co-presenters, Jamie Cogburn of Cogburn Law Offices, Bob Hamrick of Coldwell Banker Premier Realty, and Jason Payan of Payan & Miles CPAs, who helped make this seminar possible. With their help, we were able to cover topics such as options for underwater homeowners, the short sale process, tax consequences, obtaining financing after short sale or foreclosure, and much more.

With the great success of this past seminar, we already have another one lined up and we hope that you, your family and friends will join us! It will take place on:

Tuesday, September 18, 2012
6:00 – 8:00 PM
Clark County Library
1401 E. Flamingo Road
Las Vegas, NV 89119

If you have any questions regarding our 2nd chance financing program, or if you would like to move forward with your home purchase, please give us a call at (702) 485-6600. Let us help you make the first steps in discovering life after foreclosure or short sale.

Free Seminar Addresses Options for Underwater Homeowners

As Southern Nevada continues to struggle with the worst housing crises in its history, underwater homeowners continue to ponder what is their best option?

While loan modifications or refinances are a viable option for those markets that are marginally underwater, the Las Vegas Valley has suffered a nearly 50% drop in house values since its peak. What is the best option for underwater homeowners? If someone makes the decision to experience a short sale or foreclosure, when can he/she buy a home of their own again? These questions and more will be discussed on Wednesday, Aug. 8, when a local mortgage lender, real estate broker, an attorney whose firm specializes in short sales, and a Certified Public Accountant present “Underwater? Looking for Options.”

Scheduled from 6-8 p.m. at the Clark County Library, 1401 E. Flamingo Road, the free public seminar will address the realities of the housing crisis and will provide participants with the information to help them make the decision of what is right to do for their situation.

Rick Piette of Premier Mortgage Lending will discuss financing options after a short sale or foreclosure, “second chance” loans, rent vs. buy scenarios, and the Another Chance Home Loan Program.

Bob Hamrick, chairman and CEO of Coldwell Banker Premier Real Estate, will describe current housing market trends, the involvement of Realtors in the short sale process, and why now may be an excellent time to buy a home.

Focusing on legal consequences of short sales and foreclosures will be Jamie Cogburn of Cogburn Law Offices. Cogburn will also discuss the various options available to underwater homeowners and will describe the short sale process. Jason Payan of Payan & Miles CPAs will describe tax consequences of short sales and foreclosures. Additionally, Payan will talk about the pending Dec. 31 expiration of the Mortgage Forgiveness Debt Relief Act.

Seating is limited to 120. Reservations are required and may be made at WhenCanWeBuyAgain.com or by calling 485-6600.

“Going through a short sale or foreclosure can be very difficult and confusing because you’re upset about losing your home and may be receiving conflicting information as to your housing options and when you can buy a home of your own again. It is our goal, that through our free seminar, that those who have been hurt by the economy will become empowered and understand what their options truly are,” Piette said.

“By bringing a real estate professional, an attorney, a CPA and myself as an experienced mortgage lender all together in one room, we hope that participants will learn what having a recent short sale or foreclosure really means in their lives as well as when, and if, they can buy a home again in the near future,” Piette said.

According to Piette, the seminar is not just for those who are still in their homes, but also for those who have already had a short sale or foreclosure.

“You need to know the tax consequences and the legal implications, and you will find out when you may be able to get back into a home of your own. It is typically years before you can qualify for a traditional loan to purchase a home, but you will learn about new loan programs that can get you back into a home much quicker than you would think,” Piette said.

Hamrick says that there is not a one-size-fits-all course of action as to how one should move forward after a short sale or foreclosure.

“These are truly difficult times, and everyone’s situation is unique,” Hamrick says. “But through this seminar, we hope to be able to arm you with the proper facts to be able to determine what works best for you and your family.”

For additional information, visit WhenCanWeBuyAgain.com.

Premier Mortgage Lending’s Another Chance program re-opens doors to homeownership

Options that potential home buyers may have after experiencing a foreclosure or short sale were the topic of discussion at the Greater Las Vegas Association of Realtors office last month during informational seminar presented by Rick Piette of Premier Mortgage Lending and attorney Jamie Cogburn of Cogburn Law Offices.

The more than 140 GLVAR members who attended the second in a series of classes presented by Piette and Cogburn learned that various lending options do exist for those who have experienced a recent short sale or foreclosure through private lending programs such as Premier Mortgage Lending’s Another Chance Home Loan Program.

“Southern Nevada has led the entire nation in foreclosures for years, which greatly impacts the housing market, housing prices and our economy. There are thousands of people who want to buy a home but don’t think they can,” Piette said.

“Some people have no idea that they can buy a home after experiencing a short sale or foreclosure through private mortgage programs because they are only told about the standards followed by the GSEs (government-sponsored enterprises) that are used by conventional lenders.  According to the manuals followed by GSEs such as the VA or FHA, you must wait at least two or three years after a short sale and longer for a foreclosure. If you’ve experienced a bankruptcy, it’s even longer before you may be able to qualify for a conventional mortgage. In reality, it’s often longer than that because of the automated underwriting systems used to review applicants’ files,” Piette said.

“However, through private mortgage lenders like Premier Mortgage Lending, there are opportunities for those who are victims of a short sale or foreclosure that will allow them to buy a home now and take advantage of today’s low housing prices.”

Piette explained to attendees how Premier Mortgage Lending offers prospective buyers, even those who have experienced a foreclosure or short sale, the opportunity to purchase a home the day after a short sale through privately-funded, full-documentation home loans and the Another Chance Home Loan Program.

According to Piette, through Another Chance, private and institutional portfolio lenders offer home loans for the purchase of residential properties. Full-documentation underwriting guidelines are followed and at least a 20 percent down payment is required. These 15- or 30-year, fixed-rate loans carry interest rates that are typically higher than traditional mortgage rates. Borrowers may close within 30 days from the time of loan approval.

“Our phones have been ringing off the hook from people who are interested in Another Chance and want to buy a home at today’s unbelievably low prices. We lead them through a mortgage prequalification process to help them learn whether buying a home at this time is a possibility,” Piette said. “Our clients are willing to pay the higher interest rate in the short-term in order to buy a home at today’s prices and because they value homeownership. Then after they build up their credit scores, we want them to refinance as quickly as possible.”

“By helping people buy homes now, we can get Southern Nevada’s economy and housing market rolling again.”

An Another Chance mortgage can be used on the purchase of a brand-new home in addition to a re-sale. The lender is currently working with many of the valley’s major builders, including Beazer Homes, D.R. Horton, Dunhill Homes, Harmony Homes, KB Home, Pardee Homes, Pulte Homes and Del Webb, Ryland Homes, and William Lyon Homes.

The first step in participating in the program is to meet with a loan officer for complimentary prequalification. According to Piette, more than half of those who have participated in our prequalification process have learned that they can obtain a loan through Another Chance

For details about the Another Chance Loan Program, mortgage prequalification, or to schedule an appointment, call 485-6600 or visit AnotherChanceNevada.com.

Premier Mortgage Lending (NMLS 393282) is located at 8689 W. Sahara Ave., No. 100, Las Vegas, Nev., 89144 and is a member of the Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

Financing after Foreclosure or Short Sale Seminar

New loan programs now make it possible to obtain financing as little as ONE DAY after a foreclosure or short sale. Is this program right for your clients? Should they wait for traditional financing? How long do they have to wait? Financing experts from Premier Mortgage Lending will present to you what’s in the ‘manuals’ and what the realities are. Special guest speaker, Jamie Cogburn of the Cogburn Law Offices will also be talking about his view on short sales and contingent liability and provide valuable information as to what you should and shouldn’t be telling your short sale clients! With over 100,000 people in our valley who have lost their homes to foreclosure or short sale – this seminar may provide you with the information you need to get them back into a home and increase your sales in this challenging market.

The seminar will take place March 26, 2012 from 10:00 to 11:30 am. Call today and RSVP at (702) 784-5051, as seats are limited.

Premier Mortgage Lending (NMLS 393282) is located at 8689 W. Sahara Ave., No. 100, Las Vegas, Nev., 89144 and is a member of the Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.