Should I do a Loan Modification or a Short Sale?

This will depend on your particular situation. In general, we advice all our customers at first contact to be absolutely sure a loan modification will not help them. 

You will need to look at:

• Your financial situation

• The willingness of the bank

• Your desire to keep your home           

Most banks will not open two files at the same time. You will need to decide in advance whether you want to pursue a loan modification or a short sale. You should choose one or the other. . not both!

 Most of the short sale listings I sell in Maryland and Virginia involve sellers who were either denied a loan modification or the homeowner slowly realized that their home's value and what they owe to the bank is a big deficit that may take years to get even. . .and if they qualify for a short sale now. . .why not? I predict 2010 will be the year of the Strategic Default for many reasons.

Finally, having done negotiations with so many lenders we have a good idea about what financial numbers will be scrutinize by the lender to qualify them for a loan mod or a short sale.

Make sure is a loan modification that makes sense. . : 

Do not fall into a trap for a long commitment to pay and pay and pay and  could be 10 years before your loan catches up with the value of your home!

If you qualify for a short sale. . why not do it now?

Click on my eBook about Short Sales.. .you will have a clearer vision if you are contemplating a short sale as an option.

Why Should You Call Us If You Are Short Selling Your Home?

We are not investors. . we just want to help you.
If we can, the bank will pays us. . .
. . if we can't help you, we lose and we do not make a dime.
                        WE ARE IN THE SAME TEAM  WITH YOU!


Fernando Herboso is a Certified Distressed Property Expert


and a Gold Member Certified Default Resolution Specialist^TM with (CDRS)


You can reach Fernando Herboso by calling him directly@  240-426-5754
or email : Fernando@Herboso.com

Herboso & Associates is one of the Top Realtor Groups for the  most CLOSED SHORT SALES for 2009 in Montgomery and Frederick County Maryland

IF YOU ARE HAVING TROUBLE WITH MAKING YOUR PAYMENTS OR ARE HAVING ANY FINANCIAL DIFFICULTIES A SHORT SALE MIGHT BE YOUR BEST OPTION.

CONTACT US TODAY TO SEE IF YOU CAN QUALIFY. OUR SERVICES ARE FREE AND EVERYTHING IS KEPT IN THE STRICTEST CONFIDENTIALITY.

"We Bring you The Results When It Counts" 

Check this other question also: 

Am I too late to do a short sale?