Is Your Mortgage Payment Dragging You Down?

Resources for Homeowners Behind on Payments

Is Your Mortgage Dragging You Down?There have been lots of promises that help is on the way—and lots scams and schemes preying on homeowners looking for a lifeline. So where’s a homeowner who’s underwater or overleveraged to turn?

Here’s the Bottom Line

The choices that homeowners make when they feel they are at the end of their rope will affect  their ability to qualify for credit, their job prospects, their security clearance and their overall finances for years to come.

Is a short sale the best solution? Strategic default? Loan modification?

Foreclosure is not inevitable

… and neither the government nor your bank wants to see that happen. Taking action early in the process will reveal options and solutions that you didn’t know were at your disposal.

Does it seem that all you hear is that short sales take 4-6 months – or longer?

I just obtained short sale approval from Bank of America on a first trust deed and a HELOC in only 24 days! There are several income tax liens filed against the property as well, and the IRS approved a release less than a week after the request was received; it appears the Franchise Tax Board is about to follow suit. We’ll end up closing escrow on this property less than 2.5 months after the initial package was submitted to Bank of America for approval.

That is clear evidence that the system can work, with the help of some tenacity and a good game plan.

Get more information in this month’s special report. A new report will be posted the first of every month, so check back often and please call if we can apply our short sale experience and expertise to help you.

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