Stop Foreclosure Suggested Reading

It is not too late to stop foreclosure and work out a win-win situation for the bank and yourself.  John and his Team can provide you with options to help you avoid foreclosure.  His specialized services minimize the burden of homeowners.  

Two of the options available are:

• Short Sales are possible when your lender will accept less than you owe on your loan or loans.  If you have a Notice of Default or Trustee Sale Date, it's not to late to save your credit from foreclosure.  John will market, negotiate with you lender and sell your home at no cost to you.  Your lender will pay most of the costs associated with the sale.  The government is allowing incentives to increase the likelihood of a successful negotiation between the homeowner and the lender. 
  
• Loan Modification is a permananet change in one or more terms of your mortgagor's loan, usually resulting in a lower monthly payment.  

Before considering a short sale or loan modification, here are some important answers to frequently asked questions:

What is a Loan Modification?

A loan Modification is the process where the Loan Terms Change, thus improving the overall monthly payment. 

What is a short Sale:

A short sale is the process where a home is sold for a price less than the current mortgage balance. The lender approves the sale and forgives the balance owed.

What’s the difference between a re-payment or forbearance plan vs. a loan modification?

A  re-payment plan or forbearance is a temporary plan where the accrued late payments are placed on a 12-18 month re-payment in addition to the current mortgage. This does not improve the borrower’s terms, but does prevent foreclosure.

Can you stop a foreclosure?

We have been able to stop a foreclosure the day of the sale. Don’t give up!

Do I have to be delinquent to qualify?

Yes and no. Although many modification programs require a borrower to be 90 days late many investors and lenders are becoming more proactive and modifying loans when they are current. The rules are constantly changing so the opportunities could be greater over time.