Should You Represent Yourself in Foreclosure Defense?
 



If you are struggling to pay your mortgage, there are some things you can do on your own to avoid foreclosure or pursue another option. For example, you may be able to apply for a loan modification to make your payment more manageable or sell your home through a short sale with the help of a real estate agent. But fighting a foreclosure in court is not one of the procedures that lend itself to self-representation.

Short Sale or Loan Modification
 

These are unprecedented times in our country’s economic history. Unfortunately, foreclosure and financial distress is reaching into the lives of millions of American homeowners. If you or anyone you know is experiencing hardship we want to let you know we are here to help, and are happy to assist you in discussing your options and determining which solution is best for you. All consultations are at NO cost and completely confidential.



 

If you’re having trouble deciding whether your property qualifies for a short sale or you want to stay in your home and request a mortgage modification, give us a call.



 

Do Loan Modifications Affect Your Credit?
 

If you're thinking about a loan modification, chances are your credit has already taken a hit. "Most customers in the process are already delinquent," Broeker says.
 

When you proceed with a loan modification, a comment code will appear on your credit report that says something like "paying by modified terms."
 

But getting back on track with payments could have enough of a positive effect on your credit over time to make up for this derogatory remark.
 

If you're still unsure whether a loan modification is a good idea and hesitate to extend your loan term, remember that you can refinance later, when you're on better financial footing.
 

"I don't think loan modification fits everybody," Broeker says, "but it's the single best tool we have from a loss mitigation perspective to keep people in their homes."