Redding CA – Short Sale – Behind in Mortgage Payments?
Posted By Jeanean Gendron, Realtor, DRE#01299346 on April 25, 2010
Redding CA – Short Sale – Behind in Mortgage Payments–If you are behind in payments on your mortgage and you cannot refinance because your home is worth less than the amount of money you owe the lender, you may be able to do a “workout” with the lender. This means that the lender may be receptive to looking at your financial situation and if you qualify, they may do one of several workout options.
If your lender is participating the HAMP (Home Affordable Modification Program) you may qualify for a loan modification if you have the financial model to support the modification. You lender will send you a work packet and ask for income verification. If you do not qualify for HAMP then your will qualify for HAFA. If the lender is not willing to consider a loan modification and advise that you do a short sale, then we can help.
If you would like to learn more about your options, please visit our short sale and foreclosure knowledge center. We have built this website to help our clients learn about their options. If you cannot qualify for the “workout” options with your lender, you may want to consider a “Short Sale”.
A Short Sale is when we get your home sold and present the lender with a strong and solid offer from a qualified buyer for less than you owe on the mortgage. The Lender must approve this short payoff. It is in the lender’s interest to move forward and accept this offer, rather than foreclose on your home. It will costs the lender much more to foreclose and then sell you home in today’s market. In order to do a Short Sale, we work it out so that in most cases, YOU DON”T PAY THE COMMISSION OR CLOSING COSTS. YOU DO NOT HAVE TO HAVE GOOD CREDIT FOR US TO DO A SHORT SALE.
By accepting this Short Sale, the lender is better off and in most cases you are better off from a credit basis. You also are in most cases able to avoid deficiency judgments in the state of California. Call us today and we can advise you on how to contact your lender about HAMP and see if you can qualify for a loan modification. We are here to help. Time is very critical and important in this situation.
If you have not missed any payments and you simply want to learn more about your options, then we can help you through our websites and links to information on foreclosure alternatives. You may want to seek legal and financial advice. These are critical decisions and you need to understand and consider what your options are.
Redding CA – Short Sale – Behind in Mortgage Payments–Visit our website to learn more and call us so that we can help you. We feel it is important to be helping people in this market and in this mortgage crisis. We have to try everything to save your home. Educate yourself by researching on the internet. Go to www.Google.com and search on alternatives to foreclosure.
Visit the California Association of Realtor’s website. Time is very crucial to you at this time.
Redding CA – Short Sale Success and Helping Sellers Facing Hardship–I have taken extensive training and continue to do so in order to help Sellers facing hardship. We have new Government Programs that are encouraging. Call today to learn more about your options. I hope we are seeing a trend with the banks to do loan modifications and short sales over foreclosures.
I am Jeanean Gendron your Redding and Shasta County Specialist. You can reach me at 530 276-7417.
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