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In Need of a Lifeline?  Chances are, you or someone you know is facing the possibility of foreclosure. But you need to understand that you are not alone. Today, 1 out of every 10 homeonwers in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it's important to indentify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged. If you would like to know more about your options, please call me at 508-477-6688 x 205 I'm here to help in anyway I can. Matilda Eliason Home Affordable Foreclosure Alternative - HAFA - explained Ways to Avoid Foreclosure: Deed in Lieu of Foreclosure: "friendly foreclosure" return keys. Forebearance: Temporary repayment plan. Loan Modification: Modify original loan terms. Reinstatement: Bring your loan current. Refinance: New loan with reduction in monthly payments. Sell the property: Use equity to payoff or pay difference. & Short sales allow sellers to repay the mortgage at a price that the home sells for, even though it is lower than what is owed on the property. With declining property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures. Negotiate with bank. For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances: - Financial Hardship - There is a situation causing you to have trouble affording your mortgage.
- Monthly income Shortfall - In other words. "You have more month than money" A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
- Insolvency - The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
Dont' delay, each day is important when your are exploring options. If you have exhausted options like refinance or mortgage modification, or simply can no longer afford your home due to hardship, a short sale may be the solution for you. If you or someone you know is in financial stress looking at options to their present situation please contact via e-mail: maeliason@comcast.net or phone: 508-477-6688 Learn the consequences of Short Sales Vs Foreclosure Call today! 508-524-3155 direct. Useful links: Check out Foreclosure Trends in your State Move your mouse and hold over your state Citizens' Housing & Planning Association, Inc The Housing Partnership Network Bankruptcy: Will stall foreclosure but not prevent it.
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