In the event you are denied a loan modification & headed for Foreclosure, the lender will advise you to do a Short Sale (meaning your bank will accept a sale amount short of what is owed in order to avoid Foreclosure). If you can no longer afford your home the HAFA Program offers $3000 to help homeowner’s transition to more affordable housing when property owners complete a Short Sale. Many owner’s are upside down on their mortgage (owe more than the current market value of their property). Many are behind on their payments and their request for a modification has been denied. In these cases is it most advantageous to owners as well as the lender to do a Short Sale because the loss of equity is not considered a hardship by the bank & thus a modification request will be denied even when you are behind on your payments. Late payments are no longer a requirement for modification as long as you are in imminent danger of Foreclosure. Acting early on gives you and your family the most control over your future and in most cases a home owner can buy again soon after a Short Sale whereas it can take up to 5 years to qualify for a loan after Foreclosure.
As a Certified Distressed Property Specialist and Short Sale Specialist I will personally guarantee:
-Your Property will be Sold at a price your lender(s) will approve
-Within 30 Days of listing your Property will get an offer that is acceptable to you
-I Guarantee you will be 100% RELEASED from your Home Mortgage
OR I WILL PAY YOU $1000 CA$H at closing (specific state laws apply).
Loan Modification can be an important part of the Foreclosure Defense process. Modification is preferred for those seeking to keep their home and typically involves a reduction in the principal balance, interest rate or an extension of the length of the term of the loan without any costs of refinancing. Modifications in some cases offer a different type of loan or any combination of the three. A lender might be open to modifying a loan because the cost of doing so is less than the cost of Default or Foreclosure. Negotiating with the bank for a modification of your home loan can be an overwhelming process for many homeowners. As an experienced Licensed Real Estate Broker & Mortgage Broker, I can assist homeowners in preventing Foreclosure. Our clients often end up in one or more of the following possible resolutions:
· Interest rate reduction
· Term extension
· Principal Reduction
· Short Sale
Please be aware there are many companies advertising that they can stop your Foreclosure. Most of these companies will charge you a large retainer upfront and endless fees without resolving your situation lacing the knowledge and leverage to re-negotiate your mortgage. Lenders are always more willing to re-negotiate the terms of a mortgage when there is a licensed expert in the field on your side. Before you hire an expensive attorney, find out from us what the banks are looking for. Know the specific criteria needed to obtain a loan modification. For example, your monthly housing ratio must exceed 31% of your gross income or you will not qualify. When you are ready to confidentially discuss the modification or our guaranteed Short Sale process register or click “Contact Us”.
