IL – You may be in a situation where your income dropped for a few months and then went back to normal. During that time period, your got behind on your mortgage and other payments. Don’t worry, this isn't a doom and gloom problem. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Many people missed payments for up to 18 months and still kept their home. In two cases that come to mind, their lender simply forgave the missed payments. They started fresh with payments very close to their prior payments. In one of those cases, the homeowner's payments were reduced by $1,000 a month. The key is to convince your mortgage company that you can still afford your home. You will need to prove a couple of things: First, that the problem that caused your mortgage payment disruption was clearly beyond your control. An example of this could be an illness, temporary disability, or injury. Second, you will need to prove that you are now in a good position to stay current on your payments and make some progress towards repaying the unpaid amount. (They sometimes ask for you to repay the missed payments over the course of 6-12 months.) You will need to convince your mortgage company that you’re back on your feet financially. You need to show that you will be able to make your payments without a struggle. If you are in this situation, do not wait for your home to be sold without exploring the options available to you. Please contact me for more information on my free loan modification guide that will help you with a Forebearance or Loan Modifcation. Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at email@example.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (847) 338-0180 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, dennis toomey. dennis is a Real Estate Broker at RE/MAX Action. Short Sales Realtor: Phone: (847) 338-0180. firstname.lastname@example.org. For Real Estate that's hassle free, just pick up the phone and leave it TOoMEy! View My homes for sale at www.HouseByZip.com. Dennis Toomey specializes in loan modification assistance and short sales in Elgin Illinois. Elgin Loan Modification Help, Elgin Short Sales. Elgin Short Sale Realtor IL Short Sales. Realtor. Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved. Important Notice dennis toomey, RE/MAX Action, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why? Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit. However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification. We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale. The views expressed here are dennis's personal views and do not reflect the views of RE/MAX Action. This information on Short Sale Question: I Had A Temporary Income Problem. Do I Still Need To Sell My Home? is provided as a courtesy to our viewers to help them make informed decisions.
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