Category Archives: Avoid Foreclosure

Avoid Foreclosure Rescue Scams

Homeowners in distress are often the focus of “easy out credit scammers.” These entities call themselves foreclosure rescue companies, foreclosure assistance firms, or something similar. The scammer offers empty promises to the distressed homeowner in an attempt to make a quick profit from the distressed homeowner’s misfortune. With these companies, in the end the homeowner […]

What is a Loan Modification

Whether it’s called a loan modification, mortgage modification, restructuring, or workout plan, it’s when a borrower who is facing great financial hardship, having difficulty making their mortgage payments and is facing foreclosure, works with their lender to change the terms of their mortgage loan to make it affordable. The workout plan varies by lender, but […]

Short Sales

  With many Americans still facing the very real threat of foreclosure, many are looking for ways to avoid it. One option, and a topic that has garnered a lot of industry interest, is a real estate short sale. Short Sales have become an increasingly popular, and common foreclosure avoidance tactic for homeowners but what are […]

What is a Short Sale

So you’ve fallen behind on your mortgage. You need to sell your home or condo but you owe more than it’s worth. You’d like to enlist the assistance of a real estate agent and an attorney to help advise you but you don’t think you can afford to pay either of them. You are being […]

The Short Sale Package

Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what documentation the lender will require you submit and what  to expect. Submit Letter of Authorization  Lenders  will not  disclose any of your personal information without […]

FHA Short Sales

If you are the holder of a FHA mortgage and if you’re currently having trouble making your monthly mortgage payment, or one who is already in default, you’ll be happy to learn that FHA short sales are some of the easiest to process. The reason FHA short sales tend to be easier than conventional short […]