The threat of foreclosure can be terrifying. What’s more terrifying is facing that threat alone. There are many options available in place to assist the mortgagee which they might not be aware of. Our network of experienced mortgage lenders and attorneys have fought hard on behalf of the homeowner to stop foreclosures and work out a solution with their mortgage company. You have rights as a homeowner in default, but time is not on your side. Here are some of the programs in which we offer assistance so you can have the best possible outcome in your situation.
Loan Modification
Under this option, you reach an agreement between you and your mortgage company to change the original terms of your mortgage—such as payment amount, length of loan, interest rate, etc. In most cases, when your mortgage is modified, you can reduce your monthly payment to a more affordable amount.
SHORTSALE
A short sale is the process by which a homeowner can sell a house for less money than he actually owes on the mortgage(s). This is done by the buyer or investor providing proper documentation to the mortgage lenders to convince them to reduce the mortgage balance to allow the sale. The mortgage lender (or bank) actually takes a loss (or write-off) on the mortgage
If you think you might have trouble making a mortgage payment your first call should be to your mortgage servicer (the company that receives your mortgage payments each month), they may be able to arrange a temporary mortgage assistance option. After that please contact us for a detailed plan that will help you see your way through the process with the best possible outcome available for you and your family.