Saving Your Home From Foreclosure - Home Loan Modification or Short Sale
Well, it has been a couple of months since I wrote my article, Home Loan Modification - Is it possible?
At the time I was terribly frustrated with what I was hearing from those seeking assistance and getting no where. I wonder if there have been any significant changes to the system that is supposed to help people who desperately want to remain in their homes. I say, don't give up.
Whatever your situation may be, don't just walk away. The first place I would visit is:
If they are unable to help you, the second thing I would consider is a short sale. At least with a short sale there are some benefits that are better than the alternative, which is foreclosure and all the pitfalls that go along with it. You can still do a short sale if you are current on your mortgage payments.
I have an excellent resource for information about short sales. Here in the greater Sacramento area we have a short sale guru. Her name is Elizabeth Weintraub. I don't know Elizabeth personally but I have had some interactions with her on the Active Rain Real Estate Network. We often read and comment on the same blogs. She is also a writer at About.com and specializes on short sale information.
People who live in the greater Sacramento area often contact me asking for mortgage help. When they owe more on their home than it is worth, all I can do is offer them resources. I wish I could do more.
So, now you have two things you can consider before foreclosure.
Here is a good video that explains HOW to go about getting a home loan modification.
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If at anytime I can be of service, please don't hesitate to call me. Sincerely,
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Chrystina Tovani, Mortgage Advisor MLO 241089, Stanford Mortgage Sacramento, California Mortgage Advisor, Chrystina Tovani Please note that all information is time and date sensitive. The real estate and mortgage industry changes daily. All thoughts and opinions expressed on my blogs are not necessarily those of my past or present brokers or employers. All information is deemed reliable but not guaranteed. Unless otherwise stated, photos used on this site are my own or from BigStockPhoto.com Copyright © 2010 Chrystina Tovani |
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