Monday, May 14, 2012
Money Monday: Distressed Real Estate Radio
Everyone likes good real estate advice especially if you're looking at the possibility of losing your home. Now there's help on the radio. 7's Lynn Martinez has more in today's Money Monday.
WSVN -- Tony Martinez: "Good morning everyone this is Tony Martinez and welcome to the OBP Realty distressed real estate show."
Tony Martinez has made it his mission to help people who are losing their homes to foreclosure.
Tony Martinez: "At this point about 22 percent of all Florida mortgages are going unpaid..."
Tony hosts the distressed real estate show every Monday at 10 on WZAB a.m. radio.
He's an expert on short sales and tries to help listeners make sense of the foreclosure crisis.
Tony Martinez: "I was growing so frustrated watching people make bad decisions and the radio seemed to be a venue, an avenue where I could reach a large number of people."
The show is helping people like Griselle Rodriguez.
Griselle Rodriguez: I'm having some problems making my payments. I lost my job I learned many things what is the foreclosure what is the short sale? I have alternatives."
Tony says his best advice if you get behind on your mortgage your first call should be to your lender.
Find out if there is anything they can do to help like a loan modification and be wary of scams.
Griselle Rodriguez: "When someone is telling them they can stay in their home rent free by just paying a minor fee to an attorney they may be liable for significant deficiancy judgement amounts, tax implications it can be very severe."
Tony says if you can't find a way to stay in the home then you need to plan an exit strategy like a short sale.
Tony Martinez: "We approach the bank and ask them to accept less than what is owed to allow the sale to happen."
Grisella's home is up for sale now she is looking forward to the future thanks to Tony's show.
If you'd like to listen to past shows you can find them online. And if you have story ideas for money monday, email us at MONEYMONDAY@WSVN.COM
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