Are You Facing Foreclosure?

In today's market, chances are you or someone you know is having trouble making the mortgage payment each month. Facing the possibility of foreclosure is an overwhelming reality for homeowners already feeling the pressure of an upside down mortgage. 

If this is your situation, understand you are not alone! Millions of homeowners nationwide are in the same circumstances.

However, more than 70% of these homeowners proceed without seeking assistance and without getting the facts. Many do not realize that foreclosure is a process and there is time to make decisions that may result in a better outcome. 
                So Where Should You Start?

Step 1.  Take Action
Congratulations, you have already succeeded in taking your first step by clicking the link to this page! You are proactive about finding a solution and the answers to many of your questions can be obtained right here. 

Step 2.  Contact an Educated Agent
Be wary of any rescue scams or mediators that promise a quick resolution to a pending foreclosure process in exchange for upfront fees. A reputable Agent will not guarantee to stop the foreclosure process, no matter the circumstances.  Rather, an experienced Agent will look at all possibilities to your situation and make suggestions. Look for an Agent who has experienced contacts that specialize in situations like yours.

Step 3.  Organize your Personal Documents & Information

Prepare by gathering the documents listed below:
*Bank account statements
*Recent mortgage statements
*Notices from your mortgage holder
*Your past two tax returns
* Prepare a hardship letter

Don't worry if your missing some of these items or are not sure what exactly you need. Gather what you know you have, we can assist with the rest.

Step 4.  Contact Your Lender
If you have not already spoken to your lender, call them and discuss your situation.  If you have already spoken to them and are still not sure what to do, we can help.

Step 5.  Understand All of Your Options
You will hear some terms and programs that you may need help understanding to ensure you are making the right decision. Once again we can help you understand your options so you make an informed decision. Here are just a few options we can explain.

Short Sale- This is a dignified alternative to foreclosure, allowing a homeowner to sell their home for a price lower than what they owe. 

Deed-in-Lieu- This allows the homeowner to return the property to the lender rather than go through the foreclosure process.

Forebearance-This is a repayment plan that allows the homeowner repay back payments over a period of time.

Loan Modification- Involves a reduction in payments or equity or re-ammortizing the current loan.

Bankruptcy-may stop a foreclosure in some instances but is a challenging financial decision.
  
While this is just a few of the solutions to be examined, it's important that you understand them all to find the best solution for your situation.

Step 6. Get Started Today!

Time is of the essence! To ensure you have the most solutions available, give us a call today. We will get started on a CONFIDENTIAL  analysis of your situation. Let us get you back on the right track so you don't have to dread bill day any longer!

You can reach our Broker Brad Staplin directly at 916-802-4973 to answer any of your questions, or just simply fill out the form on the right. Don't forget that time is of the essence, please contact us today.