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    Foreclosure

     

    Pre Foreclosure…Don’t Panic.

    Many homeowners in our country are loosing hope. Getting behind on your mortgage payment can happen for many reasons. For example:

    • COVID Deferment plan has expired
    • Permanent Job Loss
    • Divorce
    • Death in the family

    List goes on and on….sound familiar?

    First off, DON’T PANIC. There is a solution but if you’re already getting letters in the mail from your bank or lender threatening foreclosure there isn’t a lot of time.

    A Short Sale

    A short sale is a process where we can negotiate the sale of your property back to the lender for less than the home is worth.

    Because without doing this your property would fall into foreclosure ruining your credit and your ability to re-qualify to buy for a LONG time. You do not want a foreclosure mark on your credit history and should be avoided at all costs!

    It is important to understand just like EVERY home is different so is EVERY person’s situation. The processes can be lengthy and LEGAL. You do not want to try and negotiate this on your own.

    Step #1 – Get a property valuation

    Step #2 – Obtain a hardship letter

    Step #3 – Contact the lender for a hardship application

    Step #4 – Prepare the sales contract

    Step #5 – Assemble the short sale package for lender review

    Step #6 – Loss mitigator reviews your short sale package

    Step #7 – Negotiate the short sale and go to closing

    (**More information can be found in our Short Sale and Foreclosure Survival Guide**)

    You CANNOT sit and do nothing! Do not try and face foreclosure on your own!

    Please Contact Us Today We Can Help!