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We all know that life is unpredictable, and that circumstances often arise that can prevent you from making your mortgage payments. 

Even hard-working people can encounter unforeseen situations which may affect their ability to pay their mortgage in a timely manner. Many issues can be contributing factors such as temporary job loss, medical illness or injury, marital difficulties, unforeseen repairs or high utility rates, tenant problems, or even a death in the family. Just one of these situations can have a direct bearing on making home mortgage payments.
 

There are decisions that you as a homeowner in default must make. Whether you want to keep your home, do you want out?  Can your Lender modify your loan, are they willing?  If ultimately you decide to get out of the property, we are the best chance you have to short sale the property!  Our negotiation techniques not only allow you to have the Mortgage company paid off to their satisfaction but we also try to alleviate any chance of them seeking a deficiency judgment against you.    We cannot guarantee results as every Lender is different with different guidelines but our success rate is very high.   A Deficiency Judgment may only bring your credit rating down 10-20 points but a Foreclosure will absolutely drop it  50 points or more!  Not only will a Foreclose almost guaranteed you may never be able to buy another home with a mortgage but many Landlords will not rent to anyone who has had a Foreclosure. 

Our first and foremost objective in a short sale is to negotiate total release from the obligation of the Note securing your mortgage. Our success rate is very high with most lender at doing this. However on occasion, a 2nd lien holder may not give up their right to pursue a deficiency judgement. We have tactics that can change their mind but sometimes it is inevitable. One option is to convince the lender to issue a Promissory Note at 0% for 5-10 years. The benefit of this is:

     1. It halts the Foreclosure.

     2. the Note is Unsecured vs. being secured by real estate.

     3. It is re-negotiable within 6-12 months with the lender.

     4. May be settled for a fraction of the original debt at a later date without the destruction of a Foreclosure or Deed in Lieu.