Over the past few years I've been
contacted by many homeowners who are having trouble keeping up with their
mortgages. Allot of people have had health or employment issues,
others were granted loans with payments that they just could not afford.
It's not an uncommon problem, and nothing to be embarrassed or ashamed of.
There are solutions. It's important to look at your options as early as possible in the process while you still have
many available to you.
Your lender does not want to foreclose on you. It's a long expensive
process. There's a very good chance that a lender will agree to accept
less than they're owed to avoid the expenses of foreclosure.
I have successfully worked with many homeowners and
negotiated mortgage payoff amounts well below the outstanding balance. I
work closely with several attorneys that specialize in real estate and financial
matters.
Most lenders will postpone or cancel a foreclosure auction to
allow additional time for a short sale to be approved.
You can benefit from a short sale in several ways:
A short sale may not have as much of a negative impact on
your credit score and the effects may not last as long as a foreclosure.
The lender may release you from the unpaid liability of
the loan.
You can stay in your house while the sale is in process.
You have more time to make other living arrangements.
A short sale may help you avoid bankruptcy.
No additional costs to you. The lender will usually
pay the sale expenses.
Schedule an initial Consultation
Learn about the process in detail from someone who has been through it
many times.
