Q. What is an Acceptable Hardship?
A. A material change in the financial situation of a homeowner that is or will affect their ability to pay their mortgage. A homeseller must have a hardship to qualify for a short sale. Examples of acceptable financial hardships are: Loss of job, Business Failure, Damage to property, Death of Spouse, Death of family members, Severe Illness, Divorce, Mandatory Job Relocation, Medical Bills, Military Service, Payment Increase or Mortgage Adjustment, Insurance or Tax Increase, Reduced Income, Separation, Too much debt, Incarceration.
Q. I just received a notice of foreclosure. How long do I have to make my decision on what to do?
A. When it comes to dealing with late mortgage payments, time is not your friend. The sooner you act, the better. Your lender will be much more confident in your willingness to make payments on your mortgage if you deal with the situation immediately, rather than waiting until your back is against the wall. The home foreclosure process can take anywhere from a few weeks to many months, depending on your state law and the method of foreclosure your lender chooses to use, but it is imperative that you take action as quickly as possible
Q. How much do you charge?
Our commissions are lender paid. There is no out of pocket expense to the home seller.
Q. Do I have enough time to stop my foreclosure?
A. There is always hope, although of course, the sooner you act the better. It has been possible in the past to even stop a house going on the sale block the day before it's scheduled, but that is a rare occurrence. Your best option is to take action immediately to stop foreclosure.
Q. I'm currently in bankruptcy. Can you still help?
A. It is possible to help you; it all depends on your unique situation. We cannot; however, negotiate a workout agreement with your lender until your mortgage has been discharged or dismissed from the bankruptcy proceedings.
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