1) Write hardship letter to your lender and let them know that you can no
longer afford to pay the mortgage because: due to disability, lost of
jobs,divorce, car accident, etc.(I mean good reasons).
2) Put your house in the market and try to do Short Sale, make sure you hired
a Real Estate Agent that has experience doing Short Sale.
3) Make sure that your house is clean, the lawn is maintained and looks like a
model home so when a buyer sees your house, he/she will remember the
beauty of your house and will compare to the ones they’ve seen and will
definitely make an offer. Make sure light, water, gas is on so when buyer
check your house, they will see that everything is in order and working.
4) Once you get an offer from a buyer you will give your agent an
Authorization to talk to your lender and your agent will be sending the
Short Sale package to your lender.
5) Your agent will negotiate the short sale for you, your lender’s negotiator
will negotiate the offer to the investor.
6) Patience is a virtue when doing Short Sale, it takes about 4-10 months to
close a deal in Short Sale. You have to wait, but be persistent.
7) Your credit will be hit but not as much as foreclosure and deed in lieu.
Short sale – you will be hit 150-200 points
Foreclosure/deed in lieu – you will be hit 300 to 400 points or more.
You can stay in your house rent free until you get a foreclose notice. It takes 4-8 months before the Sheriff takes over the house during which time you can save up money for the security deposit and first and last month’s rent when you move. Even if your credit gets dinged with all of the current foreclosures property owners are pretty understanding. You may have to pay a higher security deposit if your credit is low. If you know where you want to move (e.g. an apartment complex) another option is to apply while your credit is good but set the move in date to 90 days out and then defer if possible. Since they’ve already run your credit and approved you they shouldn’t have to run it again.
Walk Away With Legal Help!
Are you ready to walk away? Walk away with the Law Office of Griswold & Agdeppa, A Professional Law Corporation by calling 888-516-6789 or filling out the form below to protect yourself legally.
Are you facing foreclosure and have made a “business” decision to leave your underwater property? Don’t do it until you speak with an attorney about your options and also the legal and tax implications that this can have on you and your future!
● No equity in your home and it’s going further underwater every day?
● Are your considering a short sale or deed in lieu of foreclosure?
● Are you stressed to the point where that you are having trouble sleeping and or functioning?
● Do you have a 401k, IRA and other assets that you want to protect?
● What if we could take that stress away and help you possibly live payment free for several months?
A foreclosure can have serious implications to you financially and emotionally. This is by no means something that should be taken lightly. The Law Office Griswold & Agdeppa understands that you are experiencing something that is one of the most stressful situations that you can ever go through. Our goal is to take your stress away by giving you solutions to your foreclosure problems and give you hope by helping you plan your exit strategy.
The quicker you get started, the faster our firm can work to mitigate damage to your financial and credit positions.
If you qualify our walk away “Homeowner Protection Plan” :
● We will stop your lender or servicer from contacting you
● You will be able to stay in your home for several months without having to make another mortgage payment
● We will work with your to protect your assets from the bank
● We will help you plan a complete exit and recovery strategy that will make this as painless as possible.
Helping You Walk Away Safely!
This advertising on this web site has been prepared by The Law Office Griswold & Agdeppa, A Professional Law Corporation only for informational purposes. This web site does not contain or constitute legal advice. No attorney-client relationship is established by virtue of your visiting this web site. The information contained in this web site is not provided in the course of any attorney-client relationship and is not intended to substitute for legal advice from an attorney licensed in your jurisdiction.
The Law Office Griswold & Agdeppa asks that you do NOT send confidential information or requests for legal advice via e-mail. We will delete all communications of this nature AND WE WILL NOT RESPOND. The information contained in this web site is provided only as general information, which may or may not reflect the most current legal developments.
The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free, written information about our qualifications and experience. There are absolutely no guarantees in obtaining a loan modification when hiring a lawyer or any other firm to represent you in the process of dealing with your lender and or mediating your mortgage. There are no lender or mortgage servicer guidelines in the loan workout process to follow. However, the hiring of legal council can and may improve your chances considerably.