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Non-Foreclosure Options

Have you or someone you know missed a payment or two and don't know what to do next? Has your loan adjusted to a higher rate? Have you had a change in employment status?  You may qualify for one of the following non-foreclosure options.

1. Loan Modification: A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.

2. Forbearance: A forbearance mortgage is when your lender agrees to let you delay your monthly mortgage payments for a short period of time. A forbearance mortgage is often combined with other programs that bring your monthly mortgage payments current after a negotiated period of time.

3. Short Sale: A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor.
 
4.  Refinance

Call me for a compassionate consultation at 530-370-4180.