The Network has a documented record of success in matching owners with professionals that utilize all options and strategies. Our mission to do all that can be done to help you accomplish your desired outcome. Stop a sale, defend a foreclosure, find a way to work it out with the bank, short sell or bankruptcy as a last resort. Our team looks at each file as a long term process, and advocates credit repair and rebuilding from day one. You CAN apply for a mortgage with our mortgage partners one day out of foreclosure or short sale. So preemptive work is always in the works if that is the direction you want to go in.
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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.
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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."
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Biz Blurbs
- Good foreclosure attorneys have special skills developed over years of law school and many years of practical experience, as well as extensive knowledge about the complicated area of foreclosure law. Only an experienced foreclosure attorney will be aware of all the possible defenses in your situation and know the proper way to use them to fight a foreclosure in court.
- Look at it Chapter 13 is a way to save your home from foreclosure, and can indeed stop foreclosure so long as you continue to make the payments agreed to under the plan until all debt owed is totally paid off.