It seems that everyday we are hearing more and more news about the economy and the uncertainty of the housing market. If you are behind on your mortgage payments, this is an excellent time to negotiate with your lender. The banks don't want your house. They will try to work out a repayment plan but you must be able to show that you can pay the monthly payment. Unfortunately, many times, the circumstances that caused homeowners to fall behind on the payment is a loss of job, medical conditions, divorce, or other problems that can't be resolved immediately.
If you are in this position and don't see a way out, call us. We have helped many homeowners to negotiate payment plans or modify their current mortgage. The solution depends on your current situation.
We have heard that as much as 50% of the homeowners that get foreclosed have never contacted their mortgage company to work out a solution. It is distressing to feel that you can't overcome the problem, so many people just try to ignore it.
A foreclosure will take about 5 years to come off your credit report, but a short sale only affects your credit for about 2 years. Either way, you'll have to move. If you can start to work toward the future, planning a new start in a couple of years, that is certainly a better option than foreclosure.
Don't give up without at least knowing the options. Call me at 706-296-4395. I have experience in negotiating with the lenders and have all the forms that need to be completed to process a short sale.
The banks can be very difficult to deal with, especially when you're in a desperate situation. I am willing to help negotiation your current loan at no charge. If we decide that a short sale is your best option, there is still no charge to you. The real estate commission is negotiated with the bank after we get an offer on your home. A short sale means that the bank agrees to accept less than is owed on the mortgage.