What to Do When You Can t Pay Your Mortgage

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "What to Do When You Can t Pay Your Mortgage"

Transcription

1 What to Do When You Can t Pay Your Mortgage Marti Kilby, REALTOR Broker/Owner Steele Group Realty Distressed Property Consultant CA DRE License # Copyright 2013 Steele Group, Inc.

2 Introduction If you find yourself waking up at 2 a.m., wondering how you re going to pay your mortgage, you re not alone. Since the start of the Great Recession, thousands of people who never thought they d be worried about money are struggling every month just to stay afloat. Or, perhaps your home is now worth far less than what you owe and you wonder if it makes sense to continue to pay on negative equity. Everyone s situation is unique, and I certainly don t profess to have all of the answers, but over the last four years I ve been able to help many people find a solution to their mortgage woes. I am not an accountant or a lawyer, so I certainly encourage you to consult the appropriate professional for answers to your specific questions. This guide is designed to provide you with an overview of your different options so that you are in a better position to make the decision that s right for you. It begins with a one-page overview, followed by more in-depth discussion of the various options. If you can t pay your mortgage please don t ignore the problem. Chances are you won t win the lottery, and your financial troubles are real. As soon as you are 30 days late on your payment, the lender s clock starts ticking. There is help and you have several options. Start by reviewing all of the information found at and call HOPE (4673) to speak with a HUD approved housing counselor. It is okay to ask for help and advice. Just remember that time is of the essence. Acting early allows you to make the decision that is best for you. Wait too long and your choices disappear. My real estate practice is in San Diego County. Please don t hesitate to contact me if I can be of service to you. Sincerely, Marti Kilby, REALTOR Broker/Owner Steele Group Realty Distressed Property Consultant CA DRE License #

3 Overview of Your Options Do Nothing. It is likely the lender(s) will foreclose. Foreclosure information will stay on your credit report for up to 7 years and may make it difficult to buy again for up to 5 years. Refinance. This is generally only a viable option if there is equity in your home. However, you may qualify for a HARP 2.0 refinance even with no equity, so long as your loan is guaranteed by Fannie Mae or Freddie Mac, AND you are not behind on your payments. Reinstatement. This option means that you will have to pay all delinquent amounts due plus interest, attorney fees, late fees, and taxes and insurance if impounded. If withdrawing funds from a retirement account you should consult a tax advisor. If borrowing from friends or family make sure that all terms are in writing and that you can afford the repayment plan. Loan Modification. A loan modification re-writes your existing loan to make the monthly payments more manageable by reducing the interest rate, extending the term, and/or reducing the principal amount owed. Your lender may participate in the government s Home Affordable Modification Program (HAMP), which provides incentives for lenders to modify loans. This program has been extended through December 31, Forbearance. In a forbearance agreement your lender arranges a repayment plan that spreads out the defaulted amounts due over an extended period of time. It may include temporary payment reductions. You will need to supply information that shows your financial problems are temporary and you will be able to meet the repayment requirements. Deed in Lieu of Foreclosure. You voluntarily sign the deed back to the bank and vacate the home instead of the bank foreclosing. Generally this has the same impact on your credit report as a foreclosure. Bankruptcy. Consult a bankruptcy attorney. Filing Chapter 7 for liquidation of debt may stall foreclosure, but your lender may be allowed to resume proceedings. Chapter 13 may halt foreclosure, but the debt of the past due amounts will be included in a 3-5 year repayment plan. Short Sale. If your home has equity, you may sell the home without lender approval. Lacking equity, you can opt to sell the home for less than the amount owed. This is negotiated with your lender by a qualified Real Estate Professional. In a short sale the lender must agree to accept less than the amount of the debt owed. This option is more favorably reported on your credit report. The most important thing you can do is not bury your head in the sand. When a homeowner calls and tells me their home is going to auction in 5 days, there is little that can be done. Be realistic about your financial situation. Put it all down on paper and know exactly what you can afford today and your anticipated income over the next year. By taking control of the situation versus letting your lender direct the action, I guarantee you will have a less stressful, healthier outcome.

4 About Home Loan Modifications A loan modification occurs when your mortgage lender agrees to modify the terms of your loan in order to make it more affordable on a monthly basis. If there is equity in the property, or you qualify for HARP 2.0, (Home Affordable Refinance Program) this is accomplished through a refinance. With little or no equity a loan modification is accomplished in one of four ways: You are allowed to skip a certain number of payments and that amount is added to the end of your loan. This might also occur with a reduced payment for a set period, such as a forbearance agreement. The interest charged is reduced for a period of time, or permanently. The loan term is extended. The principal amount owed is reduced (rarely occurs). Over the last two years we have seen many lenders reach out to borrowers at the first sign of delinquency instead of waiting for serious default. The types of programs available to borrowers will vary from bank to bank, and will also vary depending on the degree of delinquency. If you think that loan modification is an option, it is better to apply as soon as possible, rather than wait for a Notice of Default to be filed. Home Affordable Modification Program (HAMP) HAMP was initiated by the Financial Stability Act of The program was built as a collaborative effort with banks, services, credit unions, the FHA, the VA, the USDA and the Federal Housing Finance Agency, to create standard loan modification guidelines for lenders to take into consideration when evaluating a borrower for a potential loan modification. Over 110 major lenders have already signed onto the program. The program has the following eligibility and verification criteria: Loans originated on or before January 1, 2009 First-lien loans on owner-occupied properties with unpaid principal balance up to $729,750 Higher limits allowed for owner-occupied properties with 2-4 units All borrowers must fully document income, including signed IRS 4506-T, proof of income (i.e. paystubs or tax returns), and must sign an affidavit of financial hardship Property owner occupancy status will be verified through borrower credit report and other documentation; no investor-owned, vacant, or condemned properties Incentives to lenders and servicers to modify at risk borrowers who have not yet missed payments when the servicer determines that the borrower is at imminent risk of default Modifications must be started before December 31, 2013; loans can be modified only once under the program.

5 Results Despite the fanfare, HAMP and private institutional loan modification results* are less than stellar. As of June 2012, 1.88 million loan modifications had been initiated. 40.2% of the trial modifications failed due to borrower default or bank cancellation. 43.5% of trial modifications were converted to permanent status. 11.9% of trial modifications that were converted to permanent status failed due to borrower default Beware of Scams If you are considering a loan modification, I encourage you to do it yourself. Beware of companies that require an upfront fee or make specific promises about what they can negotiate on your behalf. If advertised services sound too good to be true.well, you know the rest. Applying for a loan modification can be a frustrating experience, but it is something that you can attempt without hiring a specialist. Do not expect a principal reduction as banks rarely offer that as an option. * Source: ProPublica.org

6 Why so Few Loan Modifications? Ask the Servicers On May 24 th, 2011 The New York Times ran an article in their Opinion section that revealed a nasty, little-known truth about loan servicing. As most homeowners know, your mortgage is probably not owned or serviced by the bank or company from whom you originally borrowed. Not only was your loan probably sold in the secondary market, but it is likely that it is serviced by an entirely different company than the bank or company you actually owe. Loan servicing refers to the tasks associated with collecting your monthly payment, paying the investor, and often times, managing payments for insurance and property taxes. These servicers are also responsible for sending out notices associated with delinquencies, collection activities, and if needed managing defaults. In return, the servicer is paid a percentage of the principal amount owed, usually basis points (1bp = 0.01%). Additionally, the flat servicing fee may be augmented with a variety of incentives, all designed to create additional cash flow from each loan on the books. The total value of these fees and incentives are noted on the servicer s balance sheet as MSRs Mortgage Servicing Rights. Now here is the kicker: Banks make more from the fees and charges associated with managing a defaulted loan and foreclosure than they can make on a loan modification! Surprised? No wonder so few modifications are approved; the servicers have their MSRs to protect!

7 The Foreclosure Time Frame in California While foreclosure is probably not your best solution, it is important that you understand the process and time frame. Participation in a short sale or loan modification may, or may not, stall the foreclosure process. Notice of Default A Notice of Default is filed in the county where the property is located. This is usually recorded after 3 missed mortgage payments. The recording of the NOD starts the foreclosure clock ticking. The Redemption Period Day 1 Day 90 The borrower receives a copy of the recorded Notice of Default by certified mail within 10 business day of recording, and any junior lien holders are notified within 30 days. This time period is the borrower s opportunity to cure the default. The Publication Period Day 91 Day 110 The publication period lasts for 20 days from the end of the Redemption period. A Notice of Trustee s Sale is prepared and published in a newspaper with general circulation in the city in which the property is located. The Notice is published on time per week for three weeks. The sale date is at least 20 days after the date that the Notice of Trustee s sale was first published in the newspaper. The Notice is posted on the property and must be recorded at least 14 days prior to the Sale date. Trustee s Sale Day 111+ The Trustee s Sale is held a minimum of 21 days after first publication. The property is sold to the highest bidder, or if the bank s minimum bid is not satisfied, the property automatically reverts back to the beneficiary for the debt. A Trustee Deed Upon Sale is recorded transferring title and allowing the beneficiary to market the property for sale to recover the debt. If not sold, the property becomes part of the bank s REO (Real Estate Owned) inventory. Eviction How long a person can remain in the home after foreclosure depends entirely on who now owns the property. If the property was purchased at sale, the new owner can post a 3 Day Notice to Vacate which can be enforced by the Sheriff s department. If on the other hand it has reverted to the bank, it could be weeks or even months before they hire an asset management company, who in turn hires a local real estate agent to market and sell the property. Even then, they might offer cash for keys, offering $ $3000 for the property to be vacated in 7-14 days and left in broom-clean condition. If the foreclosed property is tenant occupied they have 60 days to vacate.

8 Additional Options Deed in Lieu of Foreclosure A Deed in Lieu of Foreclosure simply means that the lender has agreed to accept the deed to the property from the borrower instead of pursuing a foreclosure action. It is not a special form. It is simply the conveyance of the property to the lender by Grant Deed or Quitclaim Deed. In exchange for the deed, the lender cancels the promissory note that is secured by the property. In this way, the lender gains title to the property without the expense of foreclosing. However, this is not as simple as it may seem as the lender must approve of the conveyance in order for the borrower to be released from obligation of the debt. Most lenders do not agree to accept a deed in lieu of foreclosure when there are 2 loans on the same property, because the junior liens aren't released from the property. If the borrowers qualify according to HAFA guidelines they may receive $3,000 relocation assistance. Strategic Default A strategic default occurs when a borrower has sufficient income to continue to pay their mortgage, but decides to let the home go to foreclosure because the value has significantly dropped. This generally occurs when the amount owed on the mortgage is substantially greater than the current value. Given the drop in real estate values, many borrowers do not think that it makes sense to continue to put money into negative equity, waiting perhaps 10 or more years to recoup lost equity. Before considering a strategic default it is advisable to consult an attorney. In California, you may be protected by anti-deficiency laws which would prevent your lender from filing a judgment against you. One should also consider the negative impact on credit scores. A foreclosure will stay on your credit report for 7 years and may have a detrimental impact on your ability to purchase a home for up to 5 years, as well as other negative effects. Bankruptcy and Foreclosure If you qualify and file personal bankruptcy under Chapter 7, an automatic stay is put on all your creditors, including the foreclosing lender. However, this is only a temporary stay as filing Chapter 7 does not discharge your secured debts and your mortgage is a debt secured by your home. At any time before your unsecured debts, (such as credit cards), are discharged, the judge can allow your lender s request for relief from the automatic stay and the foreclosure can proceed. Filing Chapter 13 however may allow you to save your home from foreclosure. In a Chapter 13 bankruptcy you are allowed to make arrangements with your debtors for repayment of amounts owed, including your mortgage. However, foreclosure will be stopped only if you continue to make all payments, as agreed.

9 Short Sale vs. Foreclosure: You Be the Judge Short sales are often viewed negatively.largely because the review and approval process does take time. But, the upside can be considerable and allow you to get out from under your mortgage debt and make a fresh start. Future Ability to Purchase a Home: When you apply for a home loan, there is a question on the application that asks, Have you had a property foreclosed upon or given title or deed-in-lieu thereof in the last 7 years? A positive response may impact your ability to qualify for up to 5 years and will certainly influence the interest rate you are charged. Generally, after a short sale you can purchase again after 3 years, and in some cases 2. Impact on Credit Score: With a foreclosure, credit scores can drop points. Conversely, with a short sale only late payments will impact the credit score. After a short sale, the mortgage that was paid-off short will be reported as paid as agreed, negotiated, or settled for less than agreed. This can lower your score as little as 50 points and will usually have little to no effect in twelve to eighteen months. Impact on Credit History: Foreclosure remains on your credit history for seven years. Since short sales are not specifically reported their impact is only as great as the number of missed payments, as noted above. Relocation Allowance: Though a relocation allowance cannot be guaranteed, it is not uncommon for the seller to be paid $2,000 3,000 by the lender at the close of escrow to help with the costs of moving into a rental. It all depends on who the investor is on the loan, but there have been cases where relocation assistance has been upwards of $10,000. Deficiency Judgment: In California it is against the law for a bank to file a deficiency judgment when the loan was a first mortgage on a property from 1-4 units. Current and Future Employment and Security Clearance: Many employers require credit checks for all employees, and certainly for anyone hoping to attain a security clearance. While individual companies and agencies have different requirements, a foreclosure can have a negative impact on your ability to get a job, keep your job, or get certain clearances. No Cost to the Seller: In a traditional equity sale, the seller usually pays the real estate commissions to the listing and buyer s agent, along with his/her share of the closing costs. In a short sale, the bank pays those costs. Additionally, there is no expectation of the seller (or the bank) paying for any repairs to the home. The property is sold As Is. Of course I m not a lawyer or accountant, and each individual s situation is different, and not everyone will qualify for a short sale. You should always consult the appropriate professional for advice. But as a real estate professional, I would definitely give the short sale serious consideration before deciding to just walk away.

10 Do You Qualify for a Short Sale? A short sale is an attractive alternative to foreclosure, mainly because the impact on your credit is far less severe. However, just because you owe more on your mortgage than your home is worth doesn t necessarily mean that a short sale is a viable option. In a short sale, the lender agrees to accept a pay-off on your mortgage for less than the amount owed. Usually, the lender is not going to agree to receive less money if there is evidence that you can continue to pay your mortgage as promised. Thus, a homeowner hoping to sell their home in a short sale must generally demonstrate that they can no longer afford the mortgage payments. The first question the lender will ask is What happened? At the time of loan origination you were able to make your payments.why not now? You will be asked to identify one or more recent hardship factors that have negatively impacted your ability to pay. Examples of hardship factors include: Illness/Disability Death of a Spouse Unemployment Reduced Income Medical Bills Too much Debt Divorce/Separation Military Service Incarceration Business Failure The lender will also request that you complete a financial worksheet that lists all of your monthly expenses and income. You will need to provide bank statements and pay stubs to document the information on the financial worksheet. Contrary to popular belief, it is OK to have a small amount of money in savings and lenders do not expect you to drain your 401K to pay your bills. So the bottom line is that if you have experienced an event(s) that triggered a financial hardship and your monthly expenses are greater than your monthly income you probably qualify for a short sale. But, there are exceptions and more and more, we are seeing lenders approve a short sale, even if the borrower could continue to pay, but they owe more than the house is worth. Every loan needs to be evaluated on an individual basis. Please feel free to contact me with specific questions about your situation.

11 Improve Your Odds for Short Sale Approval Submit a quality offer. Here are a few things your Realtor should look for in any offer you receive: The offered price shouldn t be significantly less than market value. The lender is less likely to approve the sale if he feels that his loss is greater than necessary. 10% off full market value is usually the max that will be approved, but again this depends on the lender and whether or not there is mortgage insurance. The buyer can show more than sufficient funds to close the deal. The larger the down payment the better. Banks will consider a contribution to closing costs, but remember, they are looking for the highest possible net return on the sale. The buyer agrees to put his/her earnest money deposit into escrow before short sale approval. This shows the lender that the buyer is committed and less likely to walk away from the deal. If the sale is not approved, the deposit is of course returned to the buyer. The buyer should plan on paying for any needed repairs, including termite. Don t submit an offer that asks for repairs or a home warranty. The offer must not be contingent on the sale of the buyer s current home. Buyer should be flexible about when they need to move out of their current residence. The offer should be well written and easy to understand. Submit all required documents. Make sure your Realtor has confirmed with your lender regarding every required document. They should all be submitted at one time to help prevent certain items from getting lost in the lender s system. If additional (or yes, duplicate) documents are requested, submit them as quickly as possible and have your Realtor confirm receipt. Remember the squeaky wheel. Your Realtor who is representing your short sale to the bank, needs to be in regular communication with the lender, inquiring about progress on your file. The negotiator on the bank s side needs to understand that you are very serious about gaining their approval and selling your home. Ask for regular updates from your Realtor. Keep track of where you are on the foreclosure timeline. Make sure you immediately provide your Realtor with any letters you receive from your lender or any legal notices. There are many important details in a short sale that are very different from a standard equity sale. When listing your home, make sure you select a Realtor who is experienced with short sales. Saving your home from foreclosure is way too important a task to trust to an inexperienced agent.

12 Conclusion I hope that you have found this information helpful. As I mentioned in the Introduction, everyone s situation is different and it is important that you consult the appropriate professional for tax or legal advice. If you live in San Diego County and would like to discuss your options please give me a call or drop me an . I am happy to provide a no-cost, no-obligation consultation. References from satisfied clients who I have helped out of a mortgage they could no longer afford are available upon request. The important thing is to take action now! There is a way to end those sleepless nights. Marti Kilby, REALTOR Broker/Owner Steele Group Realty Distressed Property Consultant CA DRE License # Steele Group Realty 7317 El Cajon Blvd, Suite 222, La Mesa, CA 91942

8 Ways to Avoid or Stop Foreclosure...

8 Ways to Avoid or Stop Foreclosure... Free Special Report 8 Ways to Avoid or Stop Foreclosure... Dear Homeowner, If you are headed toward foreclosure, or are already in foreclosure, you need to know the rights and options available to you

More information

Do You HAFA? The HAFA Short Sale Program under Making Home Affordable 2

Do You HAFA? The HAFA Short Sale Program under Making Home Affordable 2 Table of Contents Do You HAFA? The HAFA Short Sale Program under Making Home Affordable 2 INTRODUCTION 2 Overview: Making Home Affordable ( MHA ) 2 HOME AFFORDABLE FORECLOSURE ALTERNATIVES PROGRAM ( HAFA

More information

Short Sale Seller Advisory

Short Sale Seller Advisory Short Sale Seller Advisory Short Sale Seller Advisory Recent economic challenges have resulted in many homeowners needing to sell their home but owing more on their home than the home is worth. This advisory

More information

Glossary of Foreclosure Fairness Mediation Terminology

Glossary of Foreclosure Fairness Mediation Terminology Glossary of Foreclosure Fairness Mediation Terminology Adjustable-Rate Mortgage (ARM) Mortgage repaid at the rate of interest that increases or decreases over the life of the loan based on market conditions.

More information

Foreclosure Options. Know Your Rights! Your Trusted Real Estate Resource

Foreclosure Options. Know Your Rights! Your Trusted Real Estate Resource Foreclosure Options Know Your Rights! Kirk Russell Managing Broker John L. Scott Firm Kirkrussell@johnlscott.com 206.390.5640 Your Trusted Real Estate Resource If you re listed with a license Realtor,

More information

GLOSSARY COMMONLY USED REAL ESTATE TERMS

GLOSSARY COMMONLY USED REAL ESTATE TERMS GLOSSARY COMMONLY USED REAL ESTATE TERMS Adjustable-Rate Mortgage (ARM): a mortgage loan with an interest rate that is subject to change and is not fixed at the same level for the life of the loan. These

More information

The Adam Lee Team 480-331-3501 Info@theadamleeteam.com. Alternatives to Foreclosure & REASONS WHY SHORT SALES ARE THE BETTER SOLUTION!

The Adam Lee Team 480-331-3501 Info@theadamleeteam.com. Alternatives to Foreclosure & REASONS WHY SHORT SALES ARE THE BETTER SOLUTION! The Adam Lee Team 480-331-3501 Info@ Alternatives to Foreclosure & REASONS WHY SHORT SALES ARE THE BETTER SOLUTION! Options When Facing Foreclosure 1. Do Nothing: If you choose to do nothing, you will

More information

Central Mortgage Company

Central Mortgage Company Central Mortgage Company Dear Borrower Are you struggling with your mortgage payment? We are concerned about your missed or potentially missed mortgage payment and want you to be aware of assistance available

More information

FORECLOSURE. I don t think I can make my mortgage payments but I don t want to go through a foreclosure. What are some of my options?

FORECLOSURE. I don t think I can make my mortgage payments but I don t want to go through a foreclosure. What are some of my options? FORECLOSURE When you borrow money to buy a house or land, the creditor usually takes a security interest in the property you buy. This means that if you don t pay, the creditor can foreclose upon (or take

More information

TEN LOOPHOLES THAT CAN STOP FORCLOSURE FAST

TEN LOOPHOLES THAT CAN STOP FORCLOSURE FAST TEN LOOPHOLES THAT CAN STOP FORCLOSURE FAST Copyright Notice All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means electronic or mechanical. Any

More information

Early Delinquency Intervention: Saving Your Home From Foreclosure

Early Delinquency Intervention: Saving Your Home From Foreclosure Early Delinquency Intervention: Saving Your Home From Foreclosure There are many circumstances in a homeowner s life that could result in missed mortgage payments: unexpected expenses, loss of overtime,

More information

FOR SALE. Sheeley Moving Co. AVOIDING FORECLOSURE & FORECLOSURE SCAMS

FOR SALE. Sheeley Moving Co. AVOIDING FORECLOSURE & FORECLOSURE SCAMS FAIR HOUSING UNIVERSITY FOR SALE Sheeley Moving Co. AVOIDING FORECLOSURE & FORECLOSURE SCAMS WHAT IS FORECLOSURE When a lender takes possession of a house from a homeowner who has not met the mortgage

More information

OPTIONS IN FORECLOSURE

OPTIONS IN FORECLOSURE Section II: KEEPING YOUR HOME OPTIONS IN FORECLOSURE Deciding whether or not to keep your home is something that only you, the homeowner, can determine. The best housing counselors will ask what you d

More information

HAFA Short Sales, US Treasury, Fannie Mae & Freddie Mac Programs. Learning Objectives

HAFA Short Sales, US Treasury, Fannie Mae & Freddie Mac Programs. Learning Objectives HAFA Short Sales, US Treasury, Fannie Mae & Freddie Mac Programs Learning Objectives Module 1: HARP, HAMP & HAFA Overview Upon completion of Module 1 the student will be able to: Explain the advantages

More information

How to STOP Foreclosure

How to STOP Foreclosure 1 How to STOP Foreclosure A Free Report from KentuckySolutions.com Kentucky s Real Estate Problem Solvers (Press Control-P to Print) 2 Introduction As Local Investors experienced in the Kentucky foreclosure

More information

For most families, a home is a place to live and raise children; it s a plan for the future, and also a source of pride. The Town of Davie promotes

For most families, a home is a place to live and raise children; it s a plan for the future, and also a source of pride. The Town of Davie promotes For most families, a home is a place to live and raise children; it s a plan for the future, and also a source of pride. The Town of Davie promotes home preservation. Your home is not only a significant

More information

What Are My Options When My Home Is. Scheduled For A Sheriff Sale

What Are My Options When My Home Is. Scheduled For A Sheriff Sale What Are My Options When My Home Is Scheduled For A Sheriff Sale 1. What is a sheriff sale? Once the lender has a judgment in its foreclosure case against you, it can then order your home to be sold at

More information

Q: Will I have to pay federal taxes on the money my lender loses in the short sale?

Q: Will I have to pay federal taxes on the money my lender loses in the short sale? Q: What is a Short Sale? Answer: In a short sale, the lender agrees to settle the debt owed on the property for less than the full amount. Settled means that the lender is writing off the debt (which is

More information

Homeowner Request for Assistance

Homeowner Request for Assistance Homeowner Request for Assistance In this packet. Thank you in advance for allowing your Credit Union to review your account for mortgage assistance. Homeowner Checklist Details the documents and forms

More information

Making Home Affordable

Making Home Affordable Making Home Affordable Overview of Programs What to Expect Overview of MHA Programs This presentation will: Provide an overview of Making Home Affordable (MHA) and its various components. Show you how

More information

To help you better understand the foreclosure process, these definitions are presented in a logical order, rather than alphabetical order.

To help you better understand the foreclosure process, these definitions are presented in a logical order, rather than alphabetical order. FORECLOSURE GLOSSARY NOTICE: This glossary of legal words and phrases related to foreclosure is provided to you by the Clermont County Common Pleas Court to help you better understand your legal problem

More information

Foreclosure Rescue. You Have Options! Inside: Powerful Strategies to Avoid Foreclosure. Are You at Risk of Losing Your Home in Foreclosure?

Foreclosure Rescue. You Have Options! Inside: Powerful Strategies to Avoid Foreclosure. Are You at Risk of Losing Your Home in Foreclosure? inside >>> The Foreclosure Process Your Options: - Negotiate a Loan Modification - Work out a Forbearance Plan - Obtain A Deed in Lieu of Foreclosure - Refinance Your House - File for Bankruptcy - Sell

More information

Barbara W. Griest Trident Land Transfer Company

Barbara W. Griest Trident Land Transfer Company Barbara W. Griest Trident Land Transfer Company 1 Why learn about Short Sales & Foreclosures? Excellent opportunity to grow your real estate business! Changes in the Real Estate Market Declining Markets

More information

14 Options Every Home Owner Must Know When Faced With Foreclosure. By: Scott MacDonald

14 Options Every Home Owner Must Know When Faced With Foreclosure. By: Scott MacDonald 14 Options Every Home Owner Must Know When Faced With Foreclosure By: Scott MacDonald Foreclosure is affecting millions of Americans today. It can be a very frightening time for many families who do not

More information

T E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D T H E S T A T E B A R O F T E X A S FA CING

T E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D T H E S T A T E B A R O F T E X A S FA CING T E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D T H E S T A T E B A R O F T E X A S FA CING F ORECLOSURE FACING F O RECLOSURE "Facing Foreclosure" has been prepared as a public service by

More information

Presented by: Randy Roach of North American Realty of Nevada. A Guide To Understanding The Process

Presented by: Randy Roach of North American Realty of Nevada. A Guide To Understanding The Process Presented by: Randy Roach of North American Realty of Nevada A Guide To Understanding The Process What Is A Short Sale? It s a Real Estate transaction where two unique events must occur together. (1) Net

More information

SHORT SALES Frequently Asked Questions

SHORT SALES Frequently Asked Questions SHORT SALES Frequently Asked Questions This factsheet is provided for information purposes only. It is not a substitute for advice from legal, accounting, housing, or real estate professionals. Please

More information

Making Home Affordable Act Now to Get the Help You Need

Making Home Affordable Act Now to Get the Help You Need Making Home Affordable Act Now to Get the Help You Need Help for America s Homeowners SM MAKING HOME AFFORDABLE The Obama Administration s Making Home Affordable Program is a critical part of the effort

More information

Will Lenders or Banks do short sales if the mortgage is current?

Will Lenders or Banks do short sales if the mortgage is current? Frequently Asked Questions FAQ What is a short sale? A short sale is when your Lien Holder(s) agree to accept less than you owe in order for you to sell your home. They agree to a discount of the mortgage

More information

The 8 Fastest Ways to STOP FORECLOSURE in 48 Hours or Less

The 8 Fastest Ways to STOP FORECLOSURE in 48 Hours or Less The 8 Fastest Ways to STOP FORECLOSURE in 48 Hours or Less Copyright Notice All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means electronic or mechanical.

More information

BORROWER Q&AS. 2. I'm current on my mortgage. Will the Home Affordable Refinance help me?

BORROWER Q&AS. 2. I'm current on my mortgage. Will the Home Affordable Refinance help me? MAKING HOME AFFORDABLE BORROWER Q&AS 1. What is Making Home Affordable" all about? Making Home Affordable is part of President Obama's comprehensive strategy to get the housing market back on track. Through

More information

Making Home Affordable

Making Home Affordable Making Home Affordable Working Together to Help Homeowners The Crisis Continues Foreclosures continue to devastate families and communities across the country. 2 Response to the Crisis MHA is part of Administration

More information

Short Sale Guide for Homeowners

Short Sale Guide for Homeowners Love American Homes, LLC Short Sale Guide for Homeowners America s leading short sale authority! Homeowners that NEED TO SELL a home, but CANNOT AFFORD TO, because of the amount owed on the home, and/or

More information

Seller FAQs. If your question is not addressed in this document, please call us at 410-779-1000 and one of our Client Coordinators will assist you.

Seller FAQs. If your question is not addressed in this document, please call us at 410-779-1000 and one of our Client Coordinators will assist you. Seller FAQs You re thinking about a short sale, but want to know more about them. We ve compiled a list of commonly asked questions from sellers just like you. Please read through this document to answer

More information

DO NOTHING and as long as you can make the payments, this is probably the default option, and it really is not a bad one

DO NOTHING and as long as you can make the payments, this is probably the default option, and it really is not a bad one DO NOTHING This option is for those who do not consider their house as a Short-Term Investment, but rather they think of it as their home If your house still serves as shelter, you consider it your home,

More information

H O W T O A V O I D F O R E C L O S U R E F O R E C L O S U R E

H O W T O A V O I D F O R E C L O S U R E F O R E C L O S U R E U.S. Department of Housing and Urban Development H O W T O A V O I D F O R E C L O S U R E F O R E C L O S U R E This booklet explains how property owners can avoid losing their homes because of delinquent

More information

Making Home Affordable Program and Home Affordable Modification Program Frequently Asked Questions for Bankruptcy Filers

Making Home Affordable Program and Home Affordable Modification Program Frequently Asked Questions for Bankruptcy Filers Making Home Affordable Program and Home Affordable Modification Program Frequently Asked Questions for Bankruptcy Filers Q1. What do these FAQs cover? These FAQs provide information on the Home Affordable

More information

Homeownership Preservation Toolkit

Homeownership Preservation Toolkit Homeownership Preservation Toolkit A guide to understanding and avoiding foreclosure Sponsored and Endorsed by Loveland Berthoud Association of REALTORS CONSUMER CREDIT COUNSELING SERVICE OF NORTHERN COLORADO

More information

FTC FACTS for Consumers

FTC FACTS for Consumers ftc.gov FEDERAL TRADE COMMISSION FOR THE CONSUMER 1-877-FTC-HELP FTC FACTS for Consumers Mortgage Payments Sending You Reeling? Here s What to Do T he possibility of losing your home because you can t

More information

SHORT SALES (BOON OR BUST?)

SHORT SALES (BOON OR BUST?) SHORT SALES (BOON OR BUST?) Stephen B. Shell Board Certified Real Estate Attorney Shell, Fleming, Davis & Menge sshell@shellfleming.com www.shellfleming.com I. Q: What is a short sale? A short sale is

More information

Tired of the Foreclosure Threat?

Tired of the Foreclosure Threat? Y o u r R e a l E s t a t e S t r e s s R e l i e f Tired of the Foreclosure Threat? Learn about the 6 options available to you when you are facing foreclosure Loan Modification Foreclosure Prevention

More information

AVOID FORECLOSURE HOW TO A CONSUMER GUIDE. Open mail from your mortgage company. Can you afford your home? Contact your mortgage company

AVOID FORECLOSURE HOW TO A CONSUMER GUIDE. Open mail from your mortgage company. Can you afford your home? Contact your mortgage company HOW TO AVOID FORECLOSURE A CONSUMER GUIDE Open mail from your mortgage company Can you afford your home? Contact your mortgage company Keeping or not keeping your home What happens if you do not contact

More information

Call us today to learn more about your options. 866-743-4931

Call us today to learn more about your options. 866-743-4931 Hello from Umpqua, Thank you for requesting information about assistance with your mortgage loan. We Are Here to Help You It is critical that you work with us on a resolution for any issues that affect

More information

AVOIDING. Foreclosure. Learn What Steps You Can Take to Save Your Home

AVOIDING. Foreclosure. Learn What Steps You Can Take to Save Your Home AVOIDING Foreclosure Learn What Steps You Can Take to Save Your Home Don t Give Up Until You ve Explored Every Option Without a doubt, foreclosure is one of the scariest words in the financial dictionary.

More information

Agent s Short Sale Pre-Screening Checklist

Agent s Short Sale Pre-Screening Checklist Agent s Short Sale Pre-Screening Checklist Sellers Property Address Date: Short sale transactions can take a lot of time and effort. Pre-screening a prospective short sale listing is one of the best ways

More information

Frequently Asked Questions

Frequently Asked Questions Frequently Asked Questions On March 26, 2010, the Administration announced several enhancements to the existing Making Home Affordable Program (MHA) and the Federal Housing Administration (FHA) refinance

More information

I m behind in my mortgage payments, what should I do?

I m behind in my mortgage payments, what should I do? FORECLOSURES This handout was prepared by Legal Services of Greater Miami, Inc.(LSGMI) with support from the Institute for Foreclosure Legal Assistance. LSGMI represents homeowners in foreclosure and homeowners

More information

AVOID FORECLOSURE HOW TO A CONSUMER GUIDE. Open mail from your mortgage company. Can you afford your home? Contact your mortgage company

AVOID FORECLOSURE HOW TO A CONSUMER GUIDE. Open mail from your mortgage company. Can you afford your home? Contact your mortgage company HOW TO AVOID FORECLOSURE A CONSUMER GUIDE Open mail from your mortgage company Can you afford your home? Contact your mortgage company Keeping or not keeping your home What happens if you do not contact

More information

PATHS OF A FORECLOSURE IN NEW YORK STATE

PATHS OF A FORECLOSURE IN NEW YORK STATE PATHS OF A FORECLOSURE IN NEW YORK STATE BORROWER DELINQUENT 2-3 months late with mortgage payments Lender sends notices, bills, letters to borrower stating that he/she is delinquent Borrower has multiple

More information

Introduction. Lenders, Investors, and Servicers

Introduction. Lenders, Investors, and Servicers Introduction The Making Home Affordable Program was announced by the U.S. Department of the Treasury in February 2009 in an effort to help stabilize the housing market and provide relief for struggling

More information

Federal Housing Finance Agency

Federal Housing Finance Agency Fourth Quarter 20 FHFA Federal Property Manager's Report This report contains data on foreclosure prevention activity, refinance and MHA program activity of Fannie Mae and Freddie Mac (the Enterprises)

More information

MORTGAGE TERMS. Assignment of Mortgage A document used to transfer ownership of a mortgage from one party to another.

MORTGAGE TERMS. Assignment of Mortgage A document used to transfer ownership of a mortgage from one party to another. MORTGAGE TERMS Acceleration Clause This is a clause used in a mortgage that can be enforced to make the entire amount of the loan and any interest due immediately. This is usually stipulated if you default

More information

These sample documents are for your reference only and are not to be filled out or submitted as originals.

These sample documents are for your reference only and are not to be filled out or submitted as originals. 9000 Southside Blvd Jacksonville, FL 32256 FL9-400-01-21 Phone: 1 (866) 413-3757 Email: jaxhelocshortsales@bankofamerica.com The following is a sample of the Home Equity Line of Credit (HELOC) Welcome

More information

Foreclosure Overview

Foreclosure Overview Foreclosure Overview Foreclosure is the legal action that your financial institution can use to take back your home when you miss your monthly mortgage payments. When this happens, you lose your house,

More information

CALL TODAY: 480.948.6260. Options for Avoiding Foreclosure in Arizona ArizonaForeclosureRelief.com

CALL TODAY: 480.948.6260. Options for Avoiding Foreclosure in Arizona ArizonaForeclosureRelief.com Options for Avoiding Foreclosure in Arizona ArizonaForeclosureRelief.com Thank you for taking the time to request our free report on how to avoid foreclosure in Arizona. We greatly empathize with anyone

More information

PATHS OF A FORECLOSURE IN NEW YORK STATE

PATHS OF A FORECLOSURE IN NEW YORK STATE PATHS OF A FORECLOSURE IN NEW YORK STATE BORROWER DELINQUENT 2-3 months late with mortgage payments 90-DAY PRE-FORECLOSURE NOTICE Lender sends notices, bills, letters to borrower stating that he/she is

More information

How to Stop and Avoid Foreclosure in Today's Market

How to Stop and Avoid Foreclosure in Today's Market Solutions Home Buyers, Inc. 800-478-9213 ext. 700 SolutionsHomeBuyersFL.com How to Stop and Avoid Foreclosure in Today's Market This Guide Aims To Help You Navigate the foreclosure process [Type the company

More information

Common Mortgage and Foreclosure Terms

Common Mortgage and Foreclosure Terms H ELP FOR N EW Y ORK S TATE H OMEOWNERS C ONCERNED A BOUT F ORECLOSURE Common Mortgage and Foreclosure Terms Talking about mortgages can feel like speaking a foreign language and is even more confusing

More information

CitiMortgage Home Affordable Foreclosure Alternative (HAFA) Matrix

CitiMortgage Home Affordable Foreclosure Alternative (HAFA) Matrix CitiMortgage Home Affordable Foreclosure Alternative (HAFA) Matrix All servicers that have signed agreements with the U.S. Department of the Treasury (Treasury) to participate in the Home Affordable Modification

More information

How to Sell Your House Fast

How to Sell Your House Fast How to Sell Your House Fast If you are reading this report then you are interested in selling your house as fast as you possibly can. Usually this is because you are in foreclosure, are behind on payments

More information

Avoid Foreclosure. How to Help Yourself (or someone you know) A Step-By-Step Consumer Self-Help Kit. Plus: How to Spot & Report Loan Scams!

Avoid Foreclosure. How to Help Yourself (or someone you know) A Step-By-Step Consumer Self-Help Kit. Plus: How to Spot & Report Loan Scams! How to Help Yourself (or someone you know) Plus: How to Spot & Report Loan Scams! Avoid Foreclosure A Step-By-Step Consumer Self-Help Kit Open mail from your mortgage company Can you afford your home?

More information

8 WAYS TO AVOID FORECLOSURE

8 WAYS TO AVOID FORECLOSURE 8 WAYS TO AVOID FORECLOSURE A Free Consumer Guide In this report, you will discover: The #1 Secret Your Lender Doesn t Want You to Know 8 Common Ways to Avoid Foreclosure How the Foreclosure Process Works

More information

Updated March 2013 WHY SHOULD A BORROWER CONSIDER A HAFA SHORT SALE? ELIGIBILITY REQUIREMENTS

Updated March 2013 WHY SHOULD A BORROWER CONSIDER A HAFA SHORT SALE? ELIGIBILITY REQUIREMENTS CCO Mortgage, a Division of RBS Citizens NA Home Affordable Foreclosure Alternative (HAFA) Matrix All servicers that signed agreements with the U.S. Department of the Treasury (Treasury) to participate

More information

Your Guide to Proactive Foreclosure Avoidance STOP FORECLOSURE

Your Guide to Proactive Foreclosure Avoidance STOP FORECLOSURE Your Guide to Proactive Foreclosure Avoidance STOP FORECLOSURE Explains key elements of the foreclosure process with information essential to taking charge of your financial crisis today and in the future.

More information

Avoid a Foreclosure Notebook

Avoid a Foreclosure Notebook Avoid a Foreclosure Notebook A foreclosure is a catastrophic event for any property owner and has serious legal, credit and tax implications. Working with homeowners on the verge of foreclosure or in the

More information

Bank of America Home Affordable Foreclosure Alternative (HAFA) Matrix

Bank of America Home Affordable Foreclosure Alternative (HAFA) Matrix Bank of America Home Affordable Foreclosure Alternative (HAFA) Matrix If you do not qualify for the Home Affordable Modification Program (HAMP) or other modification programs that we offer, you will be

More information

10 Frequently Asked Questions About Foreclosure

10 Frequently Asked Questions About Foreclosure 10 Frequently Asked Questions About Foreclosure 1. Who can I call for help if I am in foreclosure or fear I may be soon? The best source of help is a HUD-Approved housing counselor. You can find a housing

More information

The Top Seven Financial Pitfalls Every Homeowner Facing Foreclosure Must Avoid

The Top Seven Financial Pitfalls Every Homeowner Facing Foreclosure Must Avoid The Top Seven Financial Pitfalls Every Homeowner Facing Foreclosure Must Avoid The foreclosure process is perplexing, even for those experienced in real estate. Real estate agents, attorneys, mortgage

More information

Definitions. In some cases a survey rather than an ILC is required.

Definitions. In some cases a survey rather than an ILC is required. Definitions 1. What is the closing? The closing is a formal meeting at which both the buyer and seller meet to sign all the final documentation required for the buyer's mortgage loan. Once the closing

More information

WHAT YOU SHOULD KNOW!! By Speare Valasakos & Lance D. Churchill, J.D. Compliments of:

WHAT YOU SHOULD KNOW!! By Speare Valasakos & Lance D. Churchill, J.D. Compliments of: TRUST DEED INVESTMENTS WHAT YOU SHOULD KNOW!! By Speare Valasakos & Lance D. Churchill, J.D. Compliments of: F FRONTLINE Financing L 967 E. Parkcenter Blvd., #311 Boise, ID 83706 Phone: 208 846 9644 Fax:

More information

GENERAL TIPS FOR BUYING/SELLING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422

GENERAL TIPS FOR BUYING/SELLING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422 GENERAL TIPS FOR BUYING/SELLING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422 TYPES OF HOMES Buying a house will be one of the biggest investments one will ever

More information

FTC FACTS for Consumers

FTC FACTS for Consumers ftc.gov FEDERAL TRADE COMMISSION FOR THE CONSUMER 1-877-FTC-HELP FTC FACTS for Consumers Mortgage Payments Sending You Reeling? Here s What to Do T he possibility of losing your home because you can t

More information

SPECIAL REPORT. How To Avoid Foreclosure!

SPECIAL REPORT. How To Avoid Foreclosure! SPECIAL REPORT How To Avoid Foreclosure! Homeowner Solutions, LLC Placing People Before Profits To Solve Real Estate Problems P.O. Box 5782, Aiken, SC 29804 Phone: (803) 602-3913 Fax: (877) 245-3646 www.housebuyingcompany.com

More information

6 Steps to Completing Your Loan Modification Yourself

6 Steps to Completing Your Loan Modification Yourself 6 Steps to Completing Your Loan Modification Yourself Page 1 of 12 You hear it in the news almost every day, more and more hard working Americans are falling behind on their mortgage payments. Many real

More information

Steps you can take to protect your home and your credit

Steps you can take to protect your home and your credit Steps you can take to protect your home and your credit Oregon Division of Finance and Corporate Securities Our mission To encourage a wide range of financial services, products, and information for Oregonians,

More information

Mortgage & Home Equity Reporting Guidelines In Response to Current Financial Conditions

Mortgage & Home Equity Reporting Guidelines In Response to Current Financial Conditions Mortgage & Home Equity Reporting Guidelines In Response to Current Financial Conditions General Reporting Guidelines Report accounts in the standard Metro 2 Format. Refer to the Credit Reporting Resource

More information

HOW TO AVOID FORECLOSURE

HOW TO AVOID FORECLOSURE U.S. Department of Housing and Urban Development HOW TO AVOID FORECLOSURE This booklet explains how property owners can avoid losing their homes because of delinquent payments. Este folleto explica a los

More information

FREE YOUR MIND http://freeyourmindonline.net. Stop House Repossession

FREE YOUR MIND http://freeyourmindonline.net. Stop House Repossession FREE YOUR MIND http://freeyourmindonline.net Stop House Repossession The purpose of this report is to open the curtains on the mortgage industry and give regular people in depth insights on foreclosure

More information

Step-by-step process to apply for a loan modification with your lender/servicer

Step-by-step process to apply for a loan modification with your lender/servicer Step-by-step process to apply for a loan modification with your lender/servicer Step 1: Determine your eligibility status before contacting your lender You must have a steady income and a positive budget

More information

AGENT GUIDE TO SHORT SALES

AGENT GUIDE TO SHORT SALES AGENT GUIDE TO SHORT SALES www.mzlaw.us TABLE OF CONTENTS 1. Timeline of who does what Page 3 2. Key Points every Agent needs to know Page 4 3. Listing Agent Procedures in the short sale Pages 5-6 4. Markve

More information

Foreclosure Prevention Guide

Foreclosure Prevention Guide Foreclosure Prevention Guide 8 Ways to Stop Your Foreclosure in Today s Challenging Economy About Foreclosure Foreclosure begins when a Homeowner is unable to make their mortgage payments on the scheduled

More information

First Time Home Buyer Glossary

First Time Home Buyer Glossary First Time Home Buyer Glossary For first time home buyers, knowing and understanding the following terms are very important when purchasing your first home. By understanding these terms, you will make

More information

WELCOME TO THE MASCIA LAW FIRM NEW CLIENT PACKAGE

WELCOME TO THE MASCIA LAW FIRM NEW CLIENT PACKAGE In these trying times you need a law firm that believes in you, A firm that will make the impossible, POSSIBLE. WELCOME TO THE MASCIA LAW FIRM NEW CLIENT PACKAGE A WELCOME LETTER FROM MASCIA LAW FIRM On

More information

HOME PRESERVATION BASICS

HOME PRESERVATION BASICS HOME PRESERVATION BASICS - Know what to do and when to do it The current economic crisis has greatly affected the housing industry, and our local community is no exception. This has forced different households

More information

An Overview of Foreclosure

An Overview of Foreclosure An Overview of Foreclosure While the rising number of foreclosures is an alarming national trend, the real hardship is for any individual or family who knows the threat of foreclosure firsthand. Unfortunately,

More information

Home Affordable Modification Program (HAMP )

Home Affordable Modification Program (HAMP ) Home Affordable Modification Program (HAMP ) Training for Trusted Advisors April 2015 Making Home Affordable Objectives 1 2 3 4 5 6 Step 1 Step 2 Step 3 Step 4 Step 5 7 8 MHA Program Highlights HAMP Overview

More information

Ocwen Loan Servicing, LLC HELPING HOMEOWNERS IS WHAT WE DO! WWW.OCWEN.COM

Ocwen Loan Servicing, LLC HELPING HOMEOWNERS IS WHAT WE DO! WWW.OCWEN.COM 12/20/11 Paula Bachaman (203) 548-9046 paula@propertychoicesllc.com Property Address: 1024 Lindley Street, Bridgeport, CT 06606 Borrower Name: Jacqueline Muniz Antonio Muniz RE: Short Sale Request Package

More information

Home Affordable Foreclosure Alternatives (HAFA)

Home Affordable Foreclosure Alternatives (HAFA) Home Affordable Foreclosure Alternatives (HAFA) Training for Trusted Advisors Agenda 1 2 3 4 5 6 7 Overview HAFA Eligibility Criteria HAFA Policy HAFA Documentation Protections Against Unnecessary Foreclosure

More information

Frequently Asked Questions

Frequently Asked Questions Frequently Asked Questions 1) What is Florida HFA Hardest-Hit Fund (HHF)? (Florida Housing) was directed by US Treasury (Treasury) to create and administer foreclosure prevention assistance programs that

More information

FARM LEGAL SERIES June 2015 Mortgage Foreclosures

FARM LEGAL SERIES June 2015 Mortgage Foreclosures Agricultural Business Management FARM LEGAL SERIES June 2015 Mortgage Foreclosures Phillip L. Kunkel, Jeffrey A. Peterson, Jason Thibodeaux Attorneys, Gray Plant Mooty INTRODUCTION If a farm debtor is

More information

How to Avoid Foreclosure

How to Avoid Foreclosure How to Avoid Foreclosure M ost lenders do not want to foreclose. The process costs them money and they often sell the properties at less than the amount of the mortgage. Plus, lenders have some legal requirements

More information

FORECLOSURE & SHORT SALE GUIDE

FORECLOSURE & SHORT SALE GUIDE FORECLOSURE & SHORT SALE GUIDE Foreclosure Guide When a borrower stops making mortgage payments to the lender, the loan is in default. The lender may then initiate a legal proceeding to sell the property

More information

What is a Short Sale?

What is a Short Sale? What is a Short Sale? A Short Sale is used to describe the sale of a home in which the homeowner owes the bank more than the home is worth. The bank agrees to allow the home to be sold for less than what

More information

I Want To Sell My Home! What Are My Options?

I Want To Sell My Home! What Are My Options? I Want To Sell My Home! What Are My Options? Today over 25% of the homes in America have loan balances that exceed the home value. If you re one of them it s not your fault and you do have choices which

More information

Borrower FAQ. 1 of 12 8/6/2010 9:11 AM. In this section BORROWER FREQUENTLY ASKED QUESTIONS. Revised June 8, 2010

Borrower FAQ. 1 of 12 8/6/2010 9:11 AM. In this section BORROWER FREQUENTLY ASKED QUESTIONS. Revised June 8, 2010 Text A+ A- A Need urgent help? Contact the Homeowner s HOPE Hotline: (888) 995-HOPE ABOUT ELIGIBILITY LOAN LOOK UP FIND A COUNSELOR REQUEST A MODIFICATION RESOURCES AUDIO AND VIDEO EN ESPAÑOL Borrower

More information

Florida Foreclosure/Real Estate Law. E-Book. A Simple Guide to Florida Foreclosure/Real Estate Law. by: Florida Law Advisers, P.A.

Florida Foreclosure/Real Estate Law. E-Book. A Simple Guide to Florida Foreclosure/Real Estate Law. by: Florida Law Advisers, P.A. Florida Foreclosure/Real Estate Law E-Book A Simple Guide to Florida Foreclosure/Real Estate Law by: Florida Law Advisers, P.A. 1 Call: 800-990-7763 Web: www.floridalegaladvice.com TABLE OF CONTENTS INTRODUCTION...

More information

Information on Avoiding Foreclosure

Information on Avoiding Foreclosure Whitney Bank offers and provides financial products and services through its locations in Louisiana and Texas as "Whitney Bank" and as "Hancock Bank" in Mississippi, Alabama and Florida. Information on

More information

How to Stop and Avoid Foreclosure in Today's Market

How to Stop and Avoid Foreclosure in Today's Market How to Stop and Avoid Foreclosure in Today's Market This Guide Aims To Help You Navigate the foreclosure process [Type the company name] Discover all of your options [Pick the date] Find the solution or

More information

Short Sales and Foreclosures Supplemental Webinar Handout. Handout

Short Sales and Foreclosures Supplemental Webinar Handout. Handout Handout 1 WELCOME Welcome to the Short Sales and Foreclosures Supplemental Webinar from the Real Estate Buyer s Agent Council (REBAC) with presenter Lynn Madison. This Webinar is for students who took

More information

Guide. Completing the Mortgage Assistance Application

Guide. Completing the Mortgage Assistance Application Guide Completing the Mortgage Assistance Application Getting Started PNC Mortgage Assistance Application Early communication with PNC is very important to ensure your assistance options are not limited.

More information