Home
Foreclosure can be a stressful process and has a devastating effect on one's financial health.
Don't let that happen to you. We can help!
If you or someone you know is facing foreclosure and would like to learn more about what options avaliable,
you have come to the right place. We are dedicated to helping homeowners who are facing difficult economic times.
We believe that homeowners should be able to protect their financial status, both now and in the future.
We are passionate about educating homeowners about the foreclosure process and the options available to them to avoid that.
As a homeowner, it is extremely important that you know and understand your options.
Here is what you can do:
-
Bring your mortgage current - You will need to have enough cash to cover all of the back payments,
any late and administrative fees.
-
Refinance - You will need to qualify for the loan. To qualify,
you will need to have sufficient income and a fairly good credit score.
-
Mortgage Forbearance - An agreement between a lender and delinquent borrower in which
the lender agrees to postpone the forclosure and the borrower agrees to a mortgage payment plan that
will bring the borrower current on his/her payments.
A forbearance agreement is not a long-term solution for delinquent borrowers;
it is designed for borrowers who have temporary financial problems.
-
Loan Modification - Your lender agrees to permanently change one or more of the mortgage's terms
to make payments more manageable for you. Loan modification have strict qualifications.
Check with your lender to see if you are qualified.
Anyway, loan modification only offers a temporary fix (at best)
and you are still left with negative equity.
-
Sell Property - This is a good option if you have equity in the property and you can find a buyer who is
interested in your house and willing to pay what you are asking.
We have a network of buyers who are constantly looking for properties to buy.
Contact us to get access to a instant pool of buyers.
-
Short Sale - If you have no equity, the value of your house is upside down, and you want to save your credt,
this is the best choice for you. Completing a short sale you can buy a new home within 24 months.
Why work with us?
Because we will be the one making the offer on the property and negotiating with the bank!
Comparing to working with a short sale agent, he/she first has to list the property and then find a buyer.
But normal buyers don't have the patient for short sales due to the lengthy short sale process.
Simply put, working with us will have a much higher chance of success.
Contact us now, before it's too late, to schedule a FREE, no-obligation presentation.
-
Foreclosure - If you do nothing or just walk away from the house, the bank will repossess the property.
This will virtually destroy your credit and you will not be able to buy a house for 5 to 10 years.
Don't let this happen.
You can avoid foreclosure, let us help you complete a short sale.
| What Gets Affected |
Foreclosure |
Short Sale |
| Credit Score |
Credit score may be lowered anywhere from 250 to over 300 points
and will typically affect the credit score for minimum of 3 years.
|
Only the late payments will show up after the sale of the mortgage.
Bureaus will report PAID or NEGOTIAGED.
The credit score will not go down as much and can be as breif as 12 to 18 months.
|
| Credit History |
A foreclosure will remain as a public record on a person's credit report for 10 years or more.
|
Short sale is not reported on a person's credit history! There's no specific term for short sale
and it will be reported as PAID IN FULL or SETTLED.
|
| Future Mortgage Loans |
A homeowner who has a foreclosure is ineligible to purchase for 5 years.
7 years for investment property.
|
A homeowner or investor who does a short sale will be eligible to purchase another home in as little as 2 years.
|
| Deficiency Judgments |
Bank can pursue a deficiency balance on 100% of foreclosures (except in some states), if it was a purchase money loan.
|
In a successful short sale, it's possible to get the bank to release the homeowner of any deficiency balance and to waive any rights
to pursue a judgment in the future.
|
A Word of Caution
Be careful that there are loan-mod/stop-foreclosure scams that demand a fee in advance.
No legitimate organization that works with borrowers to avoid foreclosure will ever ask for money up front.
Don't Wait. Contact Us Now
Foreclosure is a mistake.
We are passionate about educating homeowners like you about the foreclosure process
and the options available to avoid it.
Contact us now and schedule a FREE consultation session.
No obligations.