Distressed Homeowners Don't Have to Let the Banks Win!
YOU HAVE OPTIONS!

As the economic climate continues to change, it can be challenging to know exactly which options you have if your financial situation has changed. While the housing market continues to fluctuate, many homeowners have found themselves up against the wall with a mortgage that far exceeds the value of their property. Understandably, as your home and property act also as investments, this can be typical in any marketplace; and if you are able to continue onward without facing financial hardship, then it is strongly suggested to continue to hold onto your property as the market will eventually rebound in your favor.

For those of you facing serious financial difficulty whereby you are struggling to make your mortgage payments, have fallen behind, or worse yet, are facing imminent foreclosure, know that I am here to guide you in your options that can help you avoid losing your home to the bank. A few options you may have at your disposal are:

• Loan Refinance
  Refinancing your loan may be an option, but usually only if your home's value exceeds your loan amount. When refinancing your home loan you are typically going through the same procedures that you did to purchase your home; Credit checks, income verification, appraisals, loan fees, etc. If your loan amount exceeds your home's value, or if your income has been diminished, then this probably is not an option for you. Contact me about loan refinancing.

• Loan Modification
  A loan modification is different from a loan refinance in that your lender is actually modifying the terms of your existing loan; either by readjusting the interest rate and payment, adjusting the loan amount, or both. In a loan modification homeowners negotiate with their lender to agree to terms that will allow the homeowner to continue making payments on their modified loan contract and keep their home. Some loan modifications are temporary, and some have sliding interest scales that ease the homeowner back into their regular payments over time. There are a variety of modifications that are dependent largely upon your lender's discretion. There are drawbacks, however, in that on average 91% of loan modification requests are not approved. In some cases, the lender grants a temporary loan modification, but still reserves the right to file foreclosure proceedings. Contact me with your questions about loan modification.

• Short Sale
  A short sale takes place when the lender agrees to allow the homeowner to sell his property at a loss. 
  Why short sell your home? 
  If you are facing financial hardship and are unable to qualify for the above options, then a short sale WILL save your home from foreclosure. 
  DID YOU KNOW A SHORT SALE COSTS YOU NOTHING? 
  In an approved short sale, the fees normally associated with the seller are paid for by your lender including: 
  Realtor Commissions
  Title and Escrow Fees
  Property Taxes
  Appraisals
  And more!
  
  Know that if the bank takes your home, it will be a minimum of SEVEN YEARS before you can qualify for another home loan. 
  In a short sale, you may qualify for a home purchase in AS LITTLE AS 24 MONTHS!

I am here to help you with your options. Even if you have received a Notice of Default from your bank, I can help turn the ship and help you avoid foreclosure. I will professionally a guide you through your options and help you make the best decisions that will get you moving forward again. 

If you or someone you know may be facing foreclosure, contact me for a free, no obligation pre-foreclosure consultation.