On January 11th, local industry leaders will come together and give a free seminar to homeowners with unaffordable mortgages. Speakers at the event include: Nationally-renowned credit expert and speaker, Nabil Captan, OC Metroos 2011 40 Under 40 Honoree and owner of OC Short Sale 411, Robyn Webb, Director of Operations at CDA Law Center, Bill Baskin and Sergio Siderman, Managing Partner at L.A Bankruptcy Associates and recognized speaker for CNBC and Forbes.

San Juan Capistrano, CA, January 05, 2012 --(PR.com)-- On January 11th, local industry leaders will come together and give a free seminar to homeowners with unaffordable mortgages.

The distress homeowner market has become a breeding ground for scams and fraud, and even the most educated and sophisticated homeowners are getting persuaded into taking action that is either fraudulent, unethical or of no benefit to them. The result is the "head in the sand" approach, whereby homeowners do nothing, and their home forecloses. Or worse, these homeowners buy into one of these scams, and spend thousands of dollars on a lawsuit or loan mod with no positive outcome, ultimately leading the home into foreclosure. Lastly, there are the real estate agents that have suddenly become “short sale experts” that are convincing homeowners to miss payments and sell their homes. Unfortunately, these self-proclaimed “experts” are in over their head, and have a 60-70% success rate, so the unlucky 30-40% end up with a foreclosure.

Under Water Home 411 will give homeowners a safe place to get an accurate, unbiased education without any pressure to take action, pay any fees or sell their house.

“This event could not be more timely, with the Mortgage Forgiveness Debt Relief Act expiring at the end of 2012. We are seeing a dramatic increase in homeowners inquiring about the opportunity to relieve themselves of the stress of their unaffordable mortgage, while they still have the chance to do so without severe tax consequences,” states Robyn Webb, owner of OC Short Sale 411.

The most recent Orange County resale data is showing some surprising trends in the short sale vs. foreclosure subject matter. In 2010 there were less foreclosures and more short sales than in 2009. However, those numbers went in a negative direction in 2011. Recent data shows that there were 6463 closed short sales in 2011 in Orange County residential resale. This is a 5.4% drop from the 6829 closed short sales in 2010. And as for foreclosures, there were 4450 that closed in Orange County residential resale in 2011, which is up 8.2% from the 4086 that closed in 2010.

“The cause of this change could be the result of a few different factors. Some servicers and investors are deciding to foreclose faster than they used to, but it also shows that the need for homeowner education is still out there. If homeowners get too far down the wrong path, such as a fraudulent lawsuit or incompetent loan modification organization, they can get too close to the foreclosure date to be able to stop the foreclosure,” Webb says.

Speakers at the event include: Nationally-renowned credit expert and speaker, Nabil Captan, OC Metro’s 2011 40 Under 40 Honoree and owner of OC Short Sale 411, Robyn Webb, Director of Operations at CDA Law Center, Bill Baskin and rounding out the panel will be Sergio Siderman, Managing Partner at L.A Bankruptcy Associates and recognized speaker for CNBC, Forbes and CBS Market Watch.

Nabil Captan, Author and Producer of How to Rebuild a Credit Profile after Short Sale, Foreclosure and Bankruptcy, says “I am very pleased to offer my time and assistance to such worthy cause. Rebuilding your credit score after a short sale, deed in-lieu, foreclosure, and even bankruptcy requires discipline, hard work and patience. There’s a lot of misinformation out there that can lead you to a painful and costly journey to your return to home ownership. During the event, you’ll be equipped with tools and accurate information to allow you to make sound decisions to better your financial health.”

Under Water Home 411 is a non-profit organization, dedicated to giving Southern California homeowners unbiased education about their options on their unaffordable mortgages.

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Contact Information:
Under Water Home 411
Robyn Webb
855-696-2411
Contact via Email
www.underwaterhome411.org
Cell phone: (714)328-5999

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