You are not alone, many home owners in the Fall River Ma area are facing foreclosure and are in the same boat as you. The economy, job losses, higher heating & gas prices and loan adjustments have forced many home owners to give up on their home.
You can avoid the stress and embarassement of a foreclosure. New laws are available to help you get a Loan Modification from your bank. The bank may re finance the home at a lower rate or add late payments to the end of the loan. Your first step would be to contact your lender tell them you are falling behind & ask if a loan modification is available for you. For more information on what to say & paperwork to submit to your lender visit my website www.ViewYourDreamHome.net and click on Foreclosure Help
If a loan modification is not available & you find you must sell your home, I invite you to give me a call to discuss the many options available to you. All enquiries are in the strictest of confidence.
Sellers facing foreclosure should always consider a short sale. Doing a "Short Sale" will avoid the humiliation and stress of a foreclosure & help save your credit. In a Short sale you put your home on the market & ask your mortgage holder to take less or "short" of what is owed to them. A short sale can be done even if you have a second mortgage on the home.
Benefits of Short sale over Foreclosure-
In a Short sale:
* negotiated settlement- the bank pays all fees including real estate agent
* seller's credit bruised May have 0 impact on credit
* no attorney fees
* peace of mind
* may be able to buy again in two years
* liens negotiated
* Graceful Exit not a forced exit from the home.
Foreclosure
* court settlement advertised in the local newspaper (embarassing)
* seller's credit ruined, may not even be able to rent if credit check is done
* Hefty attorney fees
* No peace of mind- Can be forced ( evicted ) out of the home on short notice by a Sheriff
* Cannot buy again for 5- 7 years
* all liens exhausted
Call me today at 774-930-8181 for more information All calls are confidential & you are under no obligation. Or email me at KarenAnn@AmericanDream-Realty.com
Karen Ann Martin Serving Home sellers in Fall River Ma, Somerset, Westport and Dartmouth Ma Real Estate
American Dream Real Estate Westport Ma (508) 636-3310
Comments(1)