ShortSaleSettlements.com is short sale realty firm
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Do you owe more then your home is worth?
Are you behind on your Mortgage Payments? Lenders will accept less then you owe! Find out How! Learn Your Options. Short Sale your Property Today! Learn more about Short Sales and how they work. Short Sales are the new exit strategy sweeping the nation!
Allowing your property to go into foreclosure will ruin your credit. Click Here and short sale your home. We stand by our promise to help you. Find a Short Sale Realtor today!
Frequently Asked Questions
+ I am late on my mortgage payments and might be heading to foreclosure. What options are available to me? How can Short Sales Settlements help me?
At Short Sale Settlements we understand that as a homeowner, falling behind on your mortgage payment or dealing with the dreaded possibility of foreclosure can be a traumatic experience and an extremely stressful prospect. If for whatever reason you are currently behind on your mortgage payments – or foresee that you will soon be unable to continue making your payments – take heart: you do have options. The best thing you can do in this situation is to get fully educated on your options and to be proactive about solving the problem.
Short Sale Settlements is here to help you identify and implement the best possible solution and to help you avoid foreclosure. Following a thorough analysis of your situation by our specialists, we will work with you and your lender to come up with the appropriate solution for your particular situation. Short Sale Settlements will diligently work on your behalf to negotiate and secure a fair agreement with your lender.
Quite understandably, many distressed homeowners simply give up and give in to the foreclosure process, often without being fully aware of the options available to them. Depending on your particular situation, the following options may be available to you:
Reinstatement: With a reinstatement, the homeowner brings the mortgage current by making up for all missed payments and paying any late fees and penalties.
Forebearance: Typically, when foreclosure is a result of a temporary loss of income, the lender may agree to a forebearance wherein they will allow the homeowner to delay payments for a short period or negotiate a payment plan to make up for missed payments over the course of several months. The lender may also agree to some combination between reinstatement and forbearance, enabling the homeowner to delay payment for a short period and then bring payments current by a specific date.
Loan modification: With a loan modification, then lender will agree to allow the homeowner to add the amounts due to the back of the loan. This agreement consists of adding the past-due payments and penalties to the remaining principal, so that the homeowner can pay-off the past-due amounts and penalties over the life of the loan.
Repayment plan: A repayment plan enables the homeowner to submit payment of a portion of the past-due amount and penalties with future payments until the past-due amount and penalties are paid-off.
Deed-in-lieu: Also known as voluntary conveyance, with a deed-in-lieu of foreclosure the borrower voluntarily transfers title back to the lender to avoid foreclosure. The lender then releases the borrower from the mortgage and repossesses the property.
Short sale: Also known as a real estate short pay-off or a pre-foreclosure workout, a short sale is an agreement with a lender to accept less than the amount owed by a borrower via a sale of the property to a third party. With this agreement, the lender releases the borrower from the mortgage, thereby preventing foreclosure.
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