Foreclosures and Distressed Real Estate
I Can Help If You:
- Need To Sell Before Foreclosure
- Are Behind on House Payments
- Are Making Two House Payments
- Are Being Transferred on Short Notice
- Need to Move Fast
What to Do If You Find Yourself in Foreclosure
Time is of the essence to protect your home and your credit rating! If you have gotten behind on a few payments, call the Mortgage Company immediately, let them know you are having problems, and attempt to make payment arrangements as they will usually try to work with you. Make sure you write down the name of the person with whom you speak, his/her position, and a log of all correspondence or conversations you have with your mortgage company. However, if your mortgage company is starting foreclosure proceedings despite your attempts, you have several options:
- Contact a real estate agent that is experienced with the foreclosure process. He/she will assist you in listing your home and will work with your mortgage company and the substitute trustee to stop the process. You can sell your home and hopefully walk away with the equity in your home and start anew. Call me and I will help you get your home sold.
- Contact your mortgage company and attempt to get a loan modification; they will add the delinquent amount to your original loan. You will need to show your income and be prepared to come up with two months’ mortgage payments. The mortgage company really does not want your home, they want their money.
- Contact an attorney to check on your options about bankruptcy. Please remember: if you go this route, you are making not only your mortgage payment but also another payment to pay off the bankruptcy. For many people in this situation, they do not realize that they are now making two payments. If you miss one payment, you may go back into foreclosure. Call Attorney Olaf Gebhart at (757) 596-0456. Please let him know I referred you!
- Several individuals and businesses may knock on your door, leaving brochures and letters, attempting to convince you that they can help. Be very cautious when dealing with these people. Most of the time, they make empty promises and are solely focused on acquiring your home, regardless of your interests. If you do work with one of these individuals, ask them for references of people they have helped, contact those people and see what they have to say about the person or business offering their assistance to you. You know the saying: "If it’s too good to be true, it usually is."
Call me and I will be straight forward about any options you want to consider.
