DISTRESSED HOME SALES SPECIALISTS
|WE OFFER HELP TO HOMEOWNERS IN DISTRESS If you are having trouble making your mortgage payments, we will meet with you to discuss all your options which include:
Forbearance. Lenders may let you make a partial payment, or skip payments, if you have a reasonable plan to catch up. Tell your lender if you expect a tax refund, a bonus, or a new job.
Reinstatement. Reinstatement refers to making a payment that covers all your late payments, usually at the end of a forbearance period. Repayment Plan. If you can’t afford reinstatement, but can start making payments to catch up, the lender may let you pay an additional amount each month until you are caught up.
Loan Modification. Your lender may agree to amend your mortgage to help you avoid foreclosure. The options include:
Sign Over The Property To Your Lender In Exchange For Debt Forgiveness. This can hurt your credit, but is better than having a foreclosure in your credit history. What is a short sale? A short sale is a program that allows the home-owner to sell the home for less than the amount owed on the mortgage.
Foreclosure vs. Short Sale
Foreclosures: • A foreclosure on your credit report is said by mortgage and credit experts to have the 2nd worst possible result… the 1st is bankruptcy. • The bank can still take full and legal & financial action against you after the foreclosure. • If you have multiple loans on your property you will have multiple late mortgage payments. This makes it difficult to get your credit back. • Foreclosure does not allow you to procure an offer of the highest price possible in order to minimize your potential tax consequence. • After a trustee sale, the lender can initiate a sheriff’s order to lockout and evict you and your family – leaving you unprepared to move.
• Allows you to list and sell your home as soon as hardship hits – minimizing the credit impact. • Property value is based on current market price – minimizing any tax liability. • Short sale sellers are widely seen as less risky than foreclosed sellers from a credit standpoint. • You may qualify for government assistance. • Allows you and your family the time to secure a new home. • Allows you to negotiate the outcome of a deficiency judgment before the close of escrow. • Short sales are about taking control of your future & finances, giving your family and you a fresh start.
Andrea Gressinger and the Gressinger Group are committed to helping you make the best decisions for you and your family. Andrea Gressinger is a certified Short Sale Specialist (SFR) by the National Association of Realtors (NAR).