Government Help To Save My House in Maryland. . .Do I Qualify?
How do I know if I qualify for Goverment Assistance to save my home when I can no longer make my mortgage payments?
The short answer is a mortgage modification. This generally occurs when both parties, in this case you, the borrower and lender get together to find a solution for your problem loan and mutually agree to workout the issues by creating new and better loan terms.
The hope is that the new improved mortgage will help the borrower to meet their obligations and avoid foreclosure.
The Goverment gets involved on this by creating incentives for your lender to come up with a solution to help you save your home.
Not everyone qualifies. .
The determining factors that your lender will look at are:
The bottom line is that your lender will make a decision based on what is better for them. . . not you!
Sometimes they elect to foreclose instead of helping you. . .simply because they realize you can not afford it!
So, be realistic when seeking help, does it make sense for you to work 2 jobs, borrow money from your credit cards just to keep a home you can not afford?
Make a decision based on the quality of life you want for your future. . .
By all means, if you CAN afford your home. . stay there, values will come up eventually and you'll feel better
But, if you CAN't afford your home, a loan modification is the first step to take.
Make certain that you and your lender can or can not agree to a loan work-out
Is this a blessing in disguise for you?
Doing a short sale should be your next step after a failed loan modification attempt.
I see it every day. .in some instances a loan modification is an attempt to prolong the inevitable by the banks. .reducing your payments so you can stay on a home that is severely underwater.
The bank does not want to get stuck with an underwater home. . .
They hope you do!
If you qualify, a short sale could be a sensible solution for you
www.Short-Sales-Expert.com
Click on my eBook about Short Sales.. .you will have a clearer vision when you are contemplating a short sale as an option.
Why Should You Call Us If You Are Short Selling Your Home?
Fernando Herboso is a Certified Distressed Property Expert 
and a Gold Member Certified Default Resolution SpecialistTM with (CDRS)
You can reach me (Fernando Herboso) by calling him directly@ 240-426-5754
or email : Fernando@Herboso.com
We can serve you in Maryland, DC or Virginia
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