Mortgage Trouble? Get Help Fast!

Real Estate Agent with Keller Williams Premier

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     It's very scary trying to figure out what to do if you miss a mortgage payment.  Keep in mind that each state has different laws directing the mortgage companies as to what the time frame is that they can start the foreclosure process.  This means that if you live in Texas, the law allows mortgage companies to foreclose on a house in 60 days.  If you wait 30 days after missing a payment, you only have 30 more days before the mortgage company can foreclose on your house. 

     What this means for you is... Get Help Fast!  As soon as you miss the first payment, the clock starts ticking on the time that the mortgage company can foreclose.  This doesn't mean that they will foreclose this fast, but they can if they want. 

     You should get a qualified real agent to help you save your credit.  An agent that holds the Certified Distressed Property Expert designation (also known as CDPE) is qualified to help you.  A CDPE agent has gone through extensive training & education on helping homeowners in your situation.  It may feel like you are alone.  Know that you are not alone and help is only a phone call or email away.  All you need to do is contact a CDPE agent as quickly as possible.Clock : Conceptual image-grid of business photos: Forms of communacition Stock Photo

      Your CDPE agent will need some time to work on your behalf.  The first step is to get your house listed on the market and then to make contact with your mortgage company to get a short sale approved.  All of this takes time since the mortgage companies are understaffed to handle the amount distressed properties around the country.

     Basically, the quicker you get help, the better off you'll be.  Your CDPE may be able to save your credit and get your house sold.  If your house is foreclosed on, your credit will be like a major traffic accident and you probably can't buy another house up to 7 years from now.  If your CDPE agent is able to sell your house in a short sale, your credit will be like a fender bender and you might be able to buy another house in only 2 years.  

     The bottom line is simple... Get Help FAST!  If you haven't missed any payments but times are tough and money is tight and you might not be able to make a payment... call a CDPE agent today!  Help is available so there's no reason for your house to go into foreclosure without getting help.

Call David N. Slavin at (281)220-9082 today!

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