loan modification in Sacramento CA. 

Recently Nfinit, A Nehemiah Company, in cooperation with RE/MAX Gold announced a new program called Home Retention Advantage.  The purpose of the program is to help customers, through education and expert resources, to keep their homes and to avoid foreclosure.  

The role of the real estate professional is to serve as the starting point in this process.  When you contact a participating agent, such as myself, we begin the process of education toward achieving your best workout strategy leading to home retention whenever possible.  If retention is not possible I am experienced in short sales and other means of property disposition.

Strategies which Nfinit DRE Licensed Specialists can use to keep you in your home include:

1. Reinstatement: under this option the borrower pays the entire past due balance to bring the loan up to date.
2. Repayment Plan: this strategy allows the borrower to distribute late payments over a period of time.
3. Loan Modification: a loan modification is an agreement which restructures the terms of the borrower's current mortgage note.  A modification can include any combination of adjusting interest rates and mortgage term or deferring a portion of the principal balance or permanent principal write down.
4. Forbearance: a signed agreement between the borrower and the lender.  The plan itself may call for a reduced payments  or even a temporary suspension due to the reason for default (hardship).  A loan modification is different than a forbearance in that  your original agreement with the lender remains in effect with a forbearance: payments are mover to the end of the loan. The loan modification is a loan rewrite.

If loan modification fails other options for managed surrender of your home may include:

1. Short Sale: a short sale is an agreement that allows the borrower to sell the property for an amount less than the total amount due.  Usually this involves the borrower listing the property for sale with an agent.  This option should be considered if the borrower no longer has the ability to pay their mortgage and if the total due exceeds the amount of the sales price. Not all agents are equal in their ability to due short sales.  It is important to find one trained with an excellent team of negotiators as I do with Nfinit. 
2. Deed in Lieu: under this option a borrower gives the propery back to the lender with a release of Mortgage obligation.  This action effectively ends the foreclosure process and may be better than a foreclosure for the borrower's credit rating. 
3. Cash for keys: cash for keys is an arrangement a lender may make with a borrower for vacating a home. 

What to do if you are late on payments and need a loan modification

1. Call me so I can start you on the path to recovery.
2. Visit my website  for more information. 
3. Stay in the home. A deserted home has different legal implications than an occupied property.
4. Communicate with your lender.  
5. If possible, continue to make your payments.
6. Understand all documents that you sign.  If you don't understand them, contact an attorney.
7. Realize that any action you take may have tax consequences.  Ask a CPA.
8. Get all promises from the lender in writing.
9. Waiting and hoping are the worst things a homeowner can do when trouble looms. If you wait too long it's too late. 

1. Loan Modification with no upfront fees.
2. Some educational tools are free.
3. You have a full spectrum of solutions not just one or two.
4. You have licensed and experienced experts in the real estate industry.
5. You have dedicated follow-up and management resources.
6. You have expertise in lender negotiation.