
What Are Some Loan Modifications Options?
Different Types Of Loan Modifications For A Defaulted Mortgage Foreclosure are costly and a very lengthy process, banks prefer to
Owes more on the house than what it is worth: mortgage, fees, liens, taxes, etc.
Financial hardship:
Divorce, loss of income,
job relocation, etc.
Delinquent mortgage:
At least 30-90 days
behind on payments
A surprising number of people just accept what they see as the inevitable, and let a foreclosure run its course by ignoring communication from the lender. Don’t let it happen – the damage to your credit will follow you for years to come. Keep open and honest communication with your lender regarding your situation.
During the short sale process, you may be eligible for the relocation assistance program offered by your lender, only if you still reside in the home. Abandoning the property will automatically disqualify you.
Your cooperation is imperative throughout the entire process. Ensure you can comply, stay in contact, and provide the documentations required by your lender. You will also need to cooperate with scheduling showings.
If you don't qualify for a short sale and need to avoid foreclosure, contact your lender. Other programs that may be offered are: forbearance, loan modification, partial claims, deed-in-lieu, temporary indulgence, etc.
The short sale process is complex and requires a real estate agent who deals with short sales to handle the entire process from start to finish.
It is required by lenders to hire a real estate agent to represent you during the short sale process. I know the process and will stay in communication with you and the lender weekly for progress and updates.
I will provide the short sale packet and submit all paperwork to the lender on your behalf for review. In addition, maintain updated documents to keep the process moving along.
I will negotiate with the lender and other lien holders on your behalf to get your debts and fees settled for a short sale approval.
Sell your home and avoid foreclosure and damage to your credit.
If you have any question, concerns, or help determining if you qualify for a short sale contact me for a consultation.
If you eligible for a short sale you will need to provide documentation and complete a short sale packet required by the lender.
Buyer and seller can not be related or affiliated with each other.
Get news and updates from our latest blog posts
Different Types Of Loan Modifications For A Defaulted Mortgage Foreclosure are costly and a very lengthy process, banks prefer to
Forbearance plans have expired for some and about to come to an end for others. However, borrowers with a FHA
As a current homeowner or future homeowner, knowing state laws when it comes to foreclosures are crucial and imperative. Especially