Short Sale Information
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Foreclosures And Your Foreclosures And Your Options Options Many homeowners when faced with the foreclosure of their home are overwhelmed with anxiety, fear, sometimes anger. As such many such individuals don't realize that there are options available to them that can help them avoid foreclosures through alternative solutions. Moving forward with these options do far less emotional and financial damage to individuals and families and in some cases may actually keep a homeowner in the home they've worked so hard to obtain. Alternatives To Foreclosures Alternatives To Foreclosures Forbearance or Repayment Plan - Reinstatement - Mortgage Modifications Property Rentals - Short Sale Dee Dee Sive Coastal Desert Properties 3620 5th Avenue Corona Del Mar, CA 92625
Transcript of Short Sale Information
Foreclosures And Your OptionsForeclosures And Your OptionsMany homeowners when faced with the foreclosure of their home are
overwhelmed with anxiety, fear, sometimes anger. As such many such individuals don't realize that there are options available to them that can help them avoid foreclosures through alternative solutions. Moving forward with these options do far less emotional and financial damage to individuals and families and in some cases may actually keep a homeowner in the home they've worked so hard to obtain.
Alternatives To ForeclosuresAlternatives To Foreclosures
Forbearance or Repayment Plan - Reinstatement - Mortgage Modifications Property Rentals - Short Sale
Dee Dee Sive Coastal Desert Properties
3620 5th Avenue Corona Del Mar, CA 92625 Office: (949) 706-3005 Fax: (949) 706-3115 Email: [email protected]
Forbearance or Repayment PlanForbearance or Repayment PlanThese days many banks/lenders are more willing to work with homeowners
because it is cheaper to keep them in their homes than it is to foreclose and resell a home. In a forbearance or repayment plan scenario a lender will allow a homeowner to repay back payments over a long period of time in order to ease the burden of debt. This option won't necessarily work for everybody who applies for it but it is indeed a very good and solid option that anyone facing a Huntington Beach foreclosures should seriously consider. Of course a lender must approve this plan and approval is done on a homeowner to homeowner basis.
ReinstatementReinstatementReinstatement much like a forbearance and repayment plan aren't going to be
right for everybody nor will everybody who applies for reinstatement be approved. In a reinstatement home owners can simply request the total amount owed to the mortgage company and then pay off. Reinstatement's like most other plans must first be approved by the lender in working with a Huntington Beach real estate agent who understands reinstatement's can better your chances for approval and success.
Mortgage ModificationsMortgage ModificationsIf there is one program that every homeowners facing foreclosure should look
into it's definitely mortgage modification. Not only is this option one of the more common and most sought after options for those looking to avoid foreclosure but many basic become much more lenient these days and are willing to with homeowners to keep them in the home and will therefore allow a mortgage to be modified to some degree. This can include the reduction of interest rates, the amount owed alone or even the principal the loan. Other times it can include any of the following together as well. If you're unsure of whether or not you'll qualify for mortgage modification be sure to speak with a Huntington Beach real estate agent before you ever consider contacting your lender.
Property RentalsProperty RentalsIndividuals and families looking to avoid foreclosure, should without a doubt,
look into the possible rental of their property. Like all others this program must first be approved by a lender and you'll definitely need the help of a Huntington Beach real estate agent but once approved renting your home out allows you keep your home while at the same time use the rental income as means to pay your mortgage.
Short SaleShort SaleA short sale is a fantastic option for an individual or family who is facing
foreclosure and has no other options left. A short sale generally occurs when a homeowner owes more than their current property is worth. When this happens a lender may qualify them for a short sale and buy back the property allowing homeowners to walk away with very little damage done to their credit or at the very least less damage than a foreclosure would have brought. Not all homeowners going to qualify for short sale so be sure to speak with a qualified Huntington Beach real estate agent if you think short sale is right for you.
Contact Deedee SiveContact Deedee Sive
If you have questions regarding foreclosures and the alternatives to that process don't hesitate to contact...
Deedee SiveDeedee Sive(949) 706-3005(949) 706-3005
