Once a mortgage payment has been missed, the clock starts ticking in the foreclosure process. You receive important notices from the servicer generally between 30 and 90 days after you miss a payment. First is a notice of default, or official notice you've broken your mortgage agreement. Next is a notice of acceleration, asking for full payment to avoid foreclosure. Finally comes the notice of foreclosure. Your stakes are high as a borrower, so it's important to know the rules and your options.
We know that the possibility of short selling your home can be a hard decision to make.
GET MY FREE FORECLOSURE vs. Short Sale REPORT: FORECLOSURE vs. SHORT SALE Report!
An informed choice is always the best decision!
As a Las Vegas Short Sale Specialist who has earned the SFR and Certified HAFA Specialist certification, I know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and pre-foreclosure opportunities. The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk. As a Realtor® and experienced Las Vegas Short Sale Specialist providing comprehensive short sale services relating to all aspects of Short Sales, REO and residential property buying and selling; my greatest value comes in being able to stop the foreclosure process; help distressed Las Vegas homeowners avoid foreclosure and guide home owners and home buyers safely through the complex short sale process.
Trapped By Your Mortgage? Short Sale!
Why Should A Distressed Homeowner/Seller Consider A Short Sale vs Foreclosure?
Short Sale vs Foreclosure; borrowers current and future credit, employment, and liability.... A bankruptcy is not an easy way out, it can be a permanent security clearance issue. A bankruptcy can also effect current and future employment. Some forms of bankruptcy will require the debt be repaid. If a homeowner is declaring a bankruptcy, they can still do a short sale, it will typically just require trustee approval.
If you or someone you know is in danger of losing their home, contact me right away!
Call 702-677-8796 To Avoid Foreclosure
Homeowners facing foreclosure are at risk of becoming victims of a foreclosure scam. Individuals involved in such scams convince vulnerable homeowners that they can save the homeowner from foreclosure. They tell the homeowner that they have direct contact with the servicer. They advise the homeowner that there are “federal laws” that require your lender to work with them. They assure the homeowner that they can help and will most always ask for a fee.
In reality, they are not there to help the homeowner: They only want your money or your home. They encourage the homeowner to stop working with their lender, servicer and tell them that they will take care of everything.
Some common scams are:
• Bait and Switch – Homeowners believe they are signing documents for a new loan to make the mortgage current, but sign away their home and are left holding the mortgage on a home they no longer own.
• Phoney Counseling or Phantom Help – The person conducting the scam tells the borrower that he can negotiate a deal with the servicer to save the house if the borrower pays a fee first. Once the fee is paid, the person takes off with the money and provides no assistance.
• Bankruptcy Foreclosure - The rescuer promises to negotiate with the lender on the borrower’s behalf for a fee. The rescuer takes the fee and files a bankruptcy case in the borrower’s name and without the borrower’s knowledge. (A Bankruptcy foreclosure will prevent you from buying a home in the future. You will not be able to purchase a home again for several years and without written consent by the court when you can show the bankruptcy was due to extenuating circumstances and you will have to verify and document you are able to better manage your finances. Bankruptcy is recorded on your credit for 10 years).
New scams are always developing. If the assistance looks too good or too easy or if you are asked to pay a fee for foreclosure prevention services make sure, verify that the service and company contacting you is legitimate.
Linda Strasberg, Realtor, Certified Short Sale Specialist, 100% Success Rate
All Rights Reserved