Facing a Foreclosure? Seek Out a Trained Professional for Help
As a Certified Distressed Property Expert, or a “CDPE,” I have been trained to help distressed Denver homeowners avoid the horrible prospect of foreclosure. I will be writing a number of posts on this subject to help these homeowners work through this situation, one that is only less stressful a death, a divorce or a chronic illness.
Unfortunately, despite the dire circumstances that you may be facing, mortgage payments never take a holiday. When the calendar changes from one month to the next, or from one year to the next, another mortgage payment will be due. If you are stressed over the possibility of not being able to make your mortgage payments due to a loss of job, illness, divorce or any other financial occurrence, there are steps that you should take immediately to save your family home. Immediate communication with your lender is essential, since the mortgage company does not want your home. Over the past year, buyers have had a much easier time dealing with lenders. Keep in mind, if an individual or company offers to help you for an UPFRONT fee contacts you, do not pay them. Make this call right away – this problem will not go away, and the importance of an explanation of the situation to your lender cannot be overstated. Avoiding this phone call will only make matters much worse.
If you think your financial situation is only temporary, ask the lender if there is a loan modification program they can offer. The lender does NOT want another home on their books. They do want the loan to be paid back.
Call a Realtor who is knowledgeable and experienced in helping homeowners through the short-sale process. When you know for certain that you cannot make your payments, it is extremely important to seek out a Realtor who knows how to work through the process with you and your lender. You will need an advocate. Someone to help present your side of the problem to the lender. We strongly recommend that the Realtor be a CDPE, Certified Distressed Property Expert. A CDPE will also have the necessary documentation and a thorough understanding of how to deal with your situation. If you would like to know more about how a short sale may help or need assistance in working with your lender, call us today at 303-400-6060. We will be happy to offer our opinion, and can hopefully alleviate some of your stress.
Call a Realtor who is knowledgeable and experienced in helping homeowners through the short-sale process. When you know for certain that you cannot make your payments, it is extremely important to seek out a Realtor who knows how to work through the process with you and your lender. You will need an advocate. Someone to help present your side of the problem to the lender. We strongly recommend that the Realtor be a CDPE, Certified Distressed Property Expert. A CDPE will also have the necessary documentation and a thorough understanding of how to deal with your situation. If you would like to know more about how a short sale may help or need assistance in working with your lender, call us today at 303-400-6060. We will be happy to offer our opinion, and can hopefully alleviate some of your stress.
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