How to Avoid Foreclosure
A free industry report has been created to explain in simple terms, the different options a borrower has at his disposition before letting his/her house go into foreclosure. This easy to understand report will answer most of the questions a borrower has during this trying situation:
What should I do when I get behind on my mortgage payments?
What are my options? This report will explain up to 10 different options:
Short Sale
What is a Real Estate Short Sale?
In Real Estate, a short sale is when a lender agrees to discount a loan balance due to an economic or financial hardship of the borrower.
Essentially, the borrower sells the mortgaged property for less than the outstanding balance of the loan and turns over all proceeds of the sale to the lender. Similarly, a Short Refinance option exists whereby a lender will reduce the principle balance of a mortgage to permit the homeowner to refinance with a new lender. Sometimes, but not always, a short sale can satisfy the borrower’s obligation to the lender. The negotiation is handled by a lender’s loss mitigation department and is one of many loan modification options afforded to a borrower.
Why Do Borrowers Use Short Sales?
A short sale is a loss mitigation option used to prevent foreclosure. A lender will allow a short sale as a way to lessen the risk and expense of foreclosure. The benefit to a borrower is that a Short Sale is often executed much faster than foreclosure. Plus, the borrower can avoid having a foreclosure on their credit history.
Is a Short Sale the Right Solution For Me?
A Short Sale is one of the many solutions that are negotiated by a lender’s loss mitigation department and is one of the options we can help you with. After we conduct an investigation into your unique situation, we may recommend that a short sale is your best option. Request your free report today.
his report will make it easier for the home owner to understand why they should consider negotiating with their bank vs letting the property go into Foreclosure and what are the potential ramifications of doing nothing. To learn more about this remarkable report simply fill out the information below and we will send you this Report completely Free and under no obligation on your part. You don’t have to pay any fees upfront, we negotiate with the Banks and they pay our fees. When you have completed the form just click the “Submit” button at the bottom of this page.
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