USA – Homeowners who would prefer to get out from underwater may prefer to do a short sale compared to a loan modification. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. A short sale means the bank will accept a reduced payoff and release the loan. If your… Continue Reading
USA – You should put every little thing you have to show that your situation is real and that you cannot afford to make your mortgage payment. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Use numbers and percentages to explain the loss your of income or negative… Continue Reading
USA – When I interview sellers who want to short sale in my area, I ask them to describe their hardship. Agents who do a lot of short sales can sometimes become a little insensitive because we are focused on the statistics. For instance, when a seller says she is getting divorced, it’s possible that I… Continue Reading
USA – Many people think a hardship is mainly based on financial matters and that is not necessarily the case. Anything that makes it difficult for you to keep on making a mortgage payment might qualify to be a hardship. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. One… Continue Reading
USA – The Stop Foreclosure Institute recently received a question from John. Here was his question. “I am current on my mortgage with X Bank (one of the top 4 US banks.) However, I would like to short sale and move for my new job. I am current on my mortgage. Will my lender consider a… Continue Reading
USA – The type of hardship that your lender will consider legitimate depends on the mortgage company considering the Short Sale request. In general, so long as the hardship is real & acceptable and the mortgage company believes the loan is likely to become delinquent. As a result, the Short Sale request will be processed by… Continue Reading
USA – With a forbearance agreement, your bank agrees to hold back on its legal right to exercise foreclosure on you. They do this by coming up with a plan to bring you current on your mortgage payments after giving you some kind of a breather period. Click here to discover how other sellers successfully… Continue Reading
USA – Unfortunately, lenders do not always agree to loan modifications. That’s why when you decide to explore this option you need to get all the information you can on the subject. Lenders call the loan modification process “Loss Mitigation.” Loss mitigation is the act of lessening the lender’s losses whether they approve a loan… Continue Reading