Connect Realty of Puget Sound
Top-10 Questions About Loan Modifications
The loan modification process can be a difficult one; full of frustration and confusion. If you're one of these homeowners, considering contacting a bank about a loan modification to help avoid the dreaded foreclosure, you need to know the answers to these 10 questions.
Short Sales - a fast track to possibly resolving foreclosures
Finding yourself close to foreclosure can be a terrible reality and hard thing to admit. As soon as that reality sets in it touches off a tornado that sometimes can cause people to become lost and disoriented and cause breakdown and shutdown.
Most people are under the impression that short sales are an instant option, but there are many things that must be true before short selling is really a possible option.
Letter of Hardship for Loan Modifications
Date
Your Name
Your address:
Your Banks Name
Loan number: 123456789
To Whom It May Concern:
This letter explains the difficult situation which caused me to fall behind on my mortgage payments. I would like to be considered for a loan modification to decrease my payments, fix my interest rate at a lower rate, and recapitalize or forgive the delinquent payments in order to get me caught up and prevent future delinquency. My main goal is to keep my home for the long term.
Threat of Foreclosure?
Finding good advice in these difficult times is essential. Knowing where to find it is another matter. Everyone attempting to stop foreclosure needs to find reliable advice that they can trust, and knowing where to turn can mean the difference between paying off your mortgage and loosing your home. There are many different possible sources, ranging from law firms, which will help you navigate the red tape of foreclosures, to the banks themselves.
