WORRIED? Are you going to lose your home to foreclosure or would you be able to save it?

 

 

More than 2.1 million Americans missed their loan payments at least once last year and the alarming rate of properties up for foreclosure hit a record high. The problem would likely get worse when the adjustable rate mortgages adjust to higher rates. The rate of borrowers having to face foreclosure is on the record high and it will get worse.

 

Knowing that you can have options is something you need to consider. For most borrowers, they had at some point a chance to negotiate with the lenders but were not aware of this options.

 

If you are not sure whether or not you have enough time to conduct a Short Sale, contact us so we can discuss your individual situation and find you the best solution.

 

A Short Sale is that other route that you can choose as a homeowner to avoid going into foreclosure, and we can offer the advice that you need to help you throughout the entire process as follows.

FORECLOSURE is a bad thing for both the borrowers and the lenders. The sooner we all understand that, the better it will be for us to look for other options.

 

Negotiating at the earliest possible time is critical.

 

FORBEARANCE - An agreement between the borrower and the lender that allows the lender to make reduced payment, or none, for a specific period. A larger payment maybe made once the crisis had passed. The lender will qualify the borrower after showing proof of expected bonus, a tax refund or other income that will let you catch up.

 

REINSTATEMENT - This happens when you agree to pay the full amount of your missed payments by a specific date. Reinstatement is sometimes combined with forbearance.

 

We all, at some point, go through some financial setbacks and there are programs that your lender may offer to get you back on track. They include:

 

MODIFICATION - An arrangement with your lender to change the terms of the loan to make the monthly payments more affordable. In this arrangement, missed payments can be added to your loan balance or extend the term of your loan, reducing the size of your payments.

 

Forbearance or Loan Modification is a process that require you as a borrower to establish the fact that you are in good faith in trying to pay your loan and capable of doing such.

 

If you are in a home that you cannot afford, loan FORBEARANCE is not going to solve the problem. But even if you have to move, you can take steps to avoid foreclosure.

 

ASHTON KLEIN MORTGAGE AND REALTY, INC founded its sister company shortsalerapid.com with professionals working diligently to assist its surrounding and distant communities. Financial hardship can be challenging on anyone.  We understand your difficulty and we are always a phone call away.  Please don’t hesitate to contact us at anytime; it will be our pleasure to LEND YOU A HELPING HAND.

 

PUT YOUR HOME UP FOR SALE

 

In some cases, you may need to consider putting your home up for sale if your home has built up some equity and the current status of your local real estate market allows you. Your lender may agree to forgo payments until the house is sold. The proceeds from the sale might cover your mortgage and selling costs.

 

In the event your home has no equity or your local real estate market is depressed, ask your Broker or Real Estate Professional to consider a "SHORT SALE" or contact us at shortsalerapid.com, we would gladly assist you and answer any questions you might have. 

 

In a short sale, the lender agrees to accept the proceeds from the sale of your home, even if they don't cover the amount you owe. Lenders will commonly work with Real Estate Professionals in the short sale process because "SHORT SALE" will often save them time, resources and money.

 

Foreclosure stays on your credit report for many years and can make it very difficult to obtain another loan to purchase a home. A short sale reduces the damage done to your credit and doesn't tarnish your good name.

 

For in-depth details about your options, call us for a free consultation. Our experts are ready to help you.

 

Please note that we, as real estate and mortgage professionals, cannot give any tax advice, so please consult your personal accountant if you have any questions or concerns.

 

 

Cess Bayani Aguilar, Loan Officer

Robert John Aguilar, Realtor

(888) 255-3460 – toll free number

(818) 487-2722 – fax